NEW YORK, May 30, 2022 (GLOBE NEWSWIRE) — U.S global mastopexy market size is projected to reach a value of approximately USD 2,175 million by 2030, with a CAGR of over 5.8% from 2022 to 2030.
According to the Association of Aesthetic Society, a mastopexy (breast lift) is a cosmetic procedure that lifts or repositions sagging, sagging breasts while improving the shape and size of the breasts. Thousands of women have effective breast lift procedures every year.
The rise in medical tourism is fueling the global mastectomy market
The increase in medical tourism is one of the factors driving the growth of the market. In a developed country, the cost of medical care is exorbitant. Although the treatments are believed to be of high quality, the procedures are believed to be on the expensive side. In addition, basic health care products are relatively expensive. Medical tourism has provided a way for people who cannot afford to wait in their own country for treatment to bypass huge queues by traveling abroad for treatment. As a result, many people rely on medical tourism and travel abroad to countries that offer procedures immediately in order to save time and prevent their medical difficulties from worsening. In addition, many governments are focusing on encouraging health and wellness tourism in their countries through various tactics. As a result, strong government support is expected to drive market expansion.
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The impact of COVID-19 on the mastectomy industry
The unprecedented impact of the COVID-19 pandemic and its impact on the global economy has wreaked havoc on various businesses due to significant uncertainty in commodity prices for medical and industrial applications, along with increased volatility in supply chain and manufacturing productivity. The outbreak of COVID-19 that has swept the world has had a significant impact on the mastectomy business. The COVID 19 outbreak has also damaged the core medical tourism industry, including prominent medical tourism destinations such as Thailand, Malaysia, India, China and other developing countries.
The high cost of mastoplasty procedures could hinder growth
A mastopexy operation can be more expensive than a breast implant. According to 2020 data from the American Society of Plastic Surgeons, the average cost of a breast lift is over $5,000. This average cost is only a part of the total cost. Anesthesia, operating room facilities and other related charges are not included. The fee for breast lift surgery can be determined by the experience of the surgeon, the type of surgery performed, and the geographic location of the office. Taking all these factors into account, the cost of a mastectomy surgery could reach up to US$12,000.
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Increasing spending on cosmetic plastic surgery is one of the trends in the mastopexy market
According to the American Society of Plastic Surgeons (ASPS), Americans spent more than $16.5 billion in 2018 on cosmetic plastic surgery and minimally invasive procedures. Among them, the most expensive procedures were breast augmentation and reduction. In 2018, breast augmentation surgeries performed were 313,735, while breast reduction surgery amounted to 43,591.
Growing female geriatric population is directly proportional to increasing mastopexy procedures
In 2020, the elderly population accounted for more than 13% of the world’s population, with 70% of these people living in developing countries. By 2025, there will be 604 million older women in the world, with 70% of them living in developing countries and 70% in rural areas. The tissue and structure of women’s breasts change as they grow. This is due to changes in reproductive hormone levels caused by the natural aging process. As a result of these changes, the breasts of older women begin to lose firmness and fullness.
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Mastopexy Market Segmentation
The global mastopexy market has been segmented on the basis of type, end user, and geography. Based on type, the market is segmented into benelli lift, crescent breast lift, benelli-lollipop lift and full mastopexy. Among these, the full mastopexy segment generated the largest revenue of the mastopexy market, while the benelli lift segment achieved the fastest growth rate throughout the forecast period 2022 – 2030.
By end user, the market is segmented into specialty clinics and hospitals. In 2021, specialty clinic end-users accounted for the majority of the mastopexy market share. Furthermore, specialty clinics are expected to achieve the fastest growth rate in the coming years.
Regional Overview
North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional classification of the global mastopexy market. Based on our analysis, the North America region gathered a significant share in 2021. Increasing spending on cosmetic surgery, growing elderly population, and the presence of top cosmetic surgery professionals are fueling the growth of the mastopexy market in North America. Meanwhile, the Asia Pacific region is expected to achieve the fastest growth rate in the coming years due to the increasing number of cosmetic procedures in countries such as Thailand, Malaysia, and Australia. Additionally, increasing government spending on healthcare infrastructure, growing awareness about women’s welfare, and rising disposable income are secondary factors driving the market growth.
Key players
Key players covered globally in ALLERGAN, Cynosure, Inc., Galderma, GC Aesthetics, Mentor Worldwide LLC, POLYTECH Health & Aesthetics, LIPOELASTIC, Lumenis, Sientra, Inc., SOLTA Medical and Syneron Medical.
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