Aesthetic implants market in India to grow at 6.5% annually through 2025: GlobalDataOctober 12, 2021
Driven by rise in the number of surgical procedures, increasing prevalence of breast cancer and developing healthcare infrastructure, the aesthetic implants market in India is expected to grow at a compound annual growth rate of 6.5 percent between 2020 and 2025, forecasts GlobalData, a leading world industry and market data analytics company.
GlobalData’s latest report reveals that breast implants is the largest segment by value, accounting for around 60% of the total market in 2021 in India. Penile implants is the fastest growing segment in the aesthetic implants market.
Johnson & Johnson, Boston Scientific, GC Aesthetics and Coloplast are currently the leading market players, together accounting for up to 50 percent of the overall aesthetic implants market in 2021.
“The COVID-19 pandemic had a major impact on the market until the second quarter of 2021. However, the market started to recover from the third quarter of 2021 as several clinics began resuming aesthetic surgeries,” says Vinita Sippy, Medical Devices Analyst at GlobalData.
Currently, India ranks third in terms of volume of breast implant procedures after China and South Korea in the Asia-Pacific region. Round and shaped gel breast implants are increasingly used as they retain a better shape.
“While shorter recovery and hospitalization period for aesthetic procedures and increasing participation of middle-class population are likely to drive growth, high cost of surgery coupled with the need for re-surgery due to complications could restrain the growth of the aesthetic implants market,” Sippy added.