Facial Implants Market

Facial Implants Market Size by Product Type (Chin and Mandibular, Nasal, Cheek, Injectables and Others), Material Type (Metal, Polymer, Ceramic and Biologics), Procedure, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-13270
  • Published Date: Jan, 2023
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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The global facial implants market is expected to grow from USD 3.28 billion in 2022 to USD 6.71 billion by 2030, at a CAGR of 9.36% from 2022-2030. The North American facial implants market is expected to maintain its dominance during the forecast period.

Market Introduction:

The rising emphasis on physical appearance, given the rise of social media, has increased the demand for cosmetic surgeries. The importance of physical appearance, especially the face, is preserved in the real world. It influences an individual's chance of getting several employment opportunities or personal relationships. Face forms the first and last impression. The populace resorts to several methods, including yoga, exercising, facials, skincare, and massages, to improve their appearance. With the increasing disposable income of the population and the rise in healthcare institutions offering advanced surgical procedures, there is a growing demand for cosmetic surgeries. These surgeries enhance the facial appearance by tightening the facial muscles, offering it definition, structure, and contour, making it look younger, healthy, and glowing. Facial implants are utilized to perform these cosmetic surgeries. These facial implants are made of several materials, namely, ceramic, metal, polymer, and biologics. They are easy to inject, and they do not degrade over time. Facial implants are a more permanent option, unlike other skin care solutions. Facial implants are used in eyelid surgery, rhinoplasty, facelift, chin augmentation, cheekbone surgery, forehead surgery, and paranasal procedures. As much as they are in demand for aesthetic purposes, they can also improve the quality of life for individuals. For instance, several surgeries involving the nose can open up the nasal cavity, enabling the patient to breathe better.

Facial Implants Market Size

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Recent Development

June 2022 - A young male patient's facial abnormalities were effectively corrected through a series of procedures by doctors in Dubai using 3D-printed titanium implants. Many benign tumours had seriously injured the patient's facial bones, and the surgery entirely rebuilt them, according to the medical team, who claimed it was a unique occurrence worldwide. Professor Dr. Jehad Al Sukhun, an expert maxillofacial surgeon at the Emirates Hospital, who oversaw the procedure, told Periodical Today: "We have for the first time used 3D printing technology to manufacture 3D titanium face implants to rebuild the deficiency of the facial bones".

March 2022 - Zoriox Innovation Labs is a medical device company with a young and energetic team founded by Dr. Karthik Balaji, Krishna Chaitanya Gurijala, and Krishna Vaka Reddy. The group has been working with ground-breaking technology in Patient-Specific Implants (PSI). They are working with facial surgeons to reconstruct a complete solution to facial reconstruction and its needs; Zoriox has a team of surgeons, dentists, mechanical engineers, biomedical engineers, software engineers, graphic designers, prosthetists, and anatomists.

Market Dynamics:

Drivers

The rising demand for cosmetic surgeries – The contemporary world is living in the age of social media. Social media surround everything. There has been a significant rise in the number of users of Instagram, Facebook, TikTok, and other social media apps. These apps emphasize photographs and videos, basically visual representations of the users. Furthermore, the emphasis on aesthetics and an excellent physical appearance has gained popularity in the real world, besides the virtual one globally. The need to look a certain way has garnered pace in the younger population. Several celebrities with large followings have opted for cosmetic surgeries, including facial implants, to enhance their appearance. These actions of famous figures influence their followers to get the same procedures.

Furthermore, getting cosmetic surgeries is a norm in several countries to increase chances of employment, entering the entertainment business, or finding a partner. The increase in the population's disposable income and the rising awareness about the presence of facial implants as an option to enhance facial features have contributed to the market's growth. Establishing several institutions offering these services has also facilitated the market's growth. The increasing advertisement expenditure has also expanded the market scope. Technological advancements have made facial implants a quicker, cheaper, and high-end product in the global market, propelling its growth for the foreseeable future.

Restraints:

The complications associated with cosmetic surgeries – Any surgery has its own set of complications that may occur during or post-op. Despite having a relatively positive patient outcome, cosmetic surgeries with facial implants pose difficulties. The complications may respond to certain environmental factors, medications, or the body's immune system. The complications may lead to infections, blood loss, or permanent disfiguring of the face. The facial implants may rupture, the likelihood of which is very low, months after surgery. Several celebrities have botched cosmetic surgeries, and their experience discourages many from undertaking the procedure. Therefore, the complications associated with cosmetic surgeries that use facial implants will restrict the market's growth.

Opportunities:

Increasing accidents and trauma cases – The rise in accidents and trauma cases will increase the demand for cosmetic surgeries to fix facial disfigurement. Furthermore, congenital facial deformities are on the rise globally, which will also contribute to a greater need for cosmetic surgeries. The increase in accidents can be attributed to improper infrastructure, inadequate staff to overlook safety, intoxicated drivers, and negligence. Trauma cases can range from accidental injuries to the face, cooking, and sports injuries. The increasing healthcare expenditure will improve the medical infrastructure and offer better care to patients. Technological advancements would reduce costs and enhance cosmetic surgeries' efficiency, patient outcome, recovery, and effectiveness. All the factors combined would offer lucrative opportunities in the global facial implants market.

Challenges:

Lack of qualified and skilled medical professionals – There is a chronic shortage of medical professionals in the global market, especially in low-and-middle-income countries. Furthermore, there have been multiple reports of cosmetic surgeries that could have been performed better which were performed by qualified personnel. There are instances of cosmetic surgeries performed illegally to save money, and these individuals are not duly registered, licensed, or qualified to perform the surgeries. The lack of qualified and skilled medical professionals will challenge the market's growth.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the most significant global facial implants market, with a 46.11% market revenue share in 2022. Hollywood culture has a substantial following in the North American market. Celebrities, singers, and pop stars are followed closely by the media, paparazzi, and average individuals. There is a significant emphasis on appearance in the entertainment business, and many celebrities resort to injectable and cosmetic surgeries to maintain a younger appearance. Their choices of opting for cosmetic surgery influence millions to make similar choices. Several individuals opt for cosmetic surgeries to look like their favourite celebrities. The younger population is drawn towards cosmetic surgeries to enhance their physical appearance, which is greatly important given the rise of social media.

Furthermore, cosmetic surgeries are also chosen as a viable option to treat sports injuries or genetic medical conditions that may have impacted the individual's appearance. The well-established healthcare infrastructure of the region offers these surgeries to the populace on demand. Insurance coverage or several payment methods and processes provide the patient with payment flexibility. Technological advancements have improved the materials, procedures, and patient outcomes of cosmetic surgeries over the past years, encouraging more individuals to opt for the same. The minimally invasive, safe, and efficient surgical procedures instil confidence in patients, thereby contributing to the region's growth.

North America region Facial Implants Market Share in 2022 - 46.11%

 

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Product type segment analysis

The product type segment is divided into the chin and mandibular, nasal, cheek, injectables and others. The chin and mandibular segment dominated the market with a market share of around 36% in 2022. The lower part of our mouth is movable. The jaw is referred to as the mandible. The end tip, where the two halves of the mandible meet, is referred to as the chin. Chin and mandible implants offer lower face structure, contour, and definition. They tighten the lower face muscles and enhance the facial appearance by improving jawline appearance. Several celebrities and influencers have a much defined jawline and chin, making them attractive. They influence millions of followers who try to get similar definitions through various means like facial yoga, face massage, or facial implants for those who can afford it. Chin and mandible are combined with other popular cosmetic surgeries, namely, double chin surgery, rhinoplasty, facelift, facial reconstruction surgery, and genioplasty. The aging population is not concerned with their receding chin and often opts for facial implants as a painless and quick solution. Therefore, the rising demand for chin and mandible reconstruction surgeries explains its dominance in the market.

Material type segment analysis

The material type segment is divided into metal, polymer, ceramic and biologics. The polymer segment dominated the market with a market share of around 45% in 2022. The polymer has several beneficial properties that are ideal for use as medical biomaterials, including facial implants, thereby explaining its dominance in the market. Firstly, the polymer is easy to manufacture. Its flexibility enables it to be reshaped and sized according to any requirements. They are excellent tensile strength along with being biocompatible or biodegradable, which is a positive for environmental conservation. Their thermal, electrical, and chemical stability and resistance contribute to their rising popularity and adoption. They have a broad scope of applications and can be used to manufacture cheek, chin, mandibular and nasal implants.

Procedure segment analysis

The procedure segment is divided into eyelid surgery, rhinoplasty, facelift, chin augmentation, cheek bone surgery, forehead surgery, paranasal procedures and others. The eyelid surgery segment dominated the market with a market share of around 37% in 2022. Eyelid surgery is also called blepharoplasty. Eyelid surgery aims to remove excess skin or fat from the eyelids. The eyes open up as a result and become a significant figure of the face. It aesthetically enhances the physical appearance of the person and instils confidence in them. Eyelid surgeries offer functional benefits besides the obvious aesthetic ones. It improves the vision of the field. It improves peripheral vision while it makes one look younger. The growing geriatric population is a significant consumer market. The minimal to no scarring increase the popularity and adoption of this procedure. It is relatively safe and a quicker option to improve vision or aesthetics.

Some of the Key Market Players:
  • Anthony Products Inc.
  • DePuy Synthes
  • Eurosurgical Limited
  • Hanson Medical Inc.
  • Integra Lifesciences
  • Johnson & Johnson
  • Kanghui Medical Innovation Co. Ltd.
  • Medartis AG
  • Stryker Corporation
  • Zimmer Biomet

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 3.28 Billion
Market size value in 2030 USD 6.71 Billion
CAGR (2022 to 2030) 9.36%
Historical data 2019-2020
Base Year 2021
Forecast 2022-2030
Regional Segments The regions examined for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa.
Segments  The research segment is based on product type, material type, and procedure.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the facial implants market was valued at USD 3.28 billion in 2022 to USD 6.71 billion by 2030.

Global facial implants market is growing at a CAGR of 9.36% during the forecast period 2022-2030.

The market's growth will be influenced by the rising demand for cosmetic surgeries.

The complications associated with cosmetic surgeries could hamper the market growth.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Product Type
          4.3.2. Market Attractiveness Analysis by Material Type
          4.3.3. Market Attractiveness Analysis by Procedure
          4.3.4. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The rising demand for cosmetic surgeries
    5.3. Restraints
          5.3.1. The complications associated with cosmetic surgeries
    5.4. Opportunities
          5.4.1. Increasing accidents and trauma cases
    5.5. Challenges
          5.5.1. Lack of qualified and skilled medical professionals

6. Global Facial Implants Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Chin and Mandibular
    6.3. Nasal
    6.4. Cheek
    6.5. Injectables
    6.6. Others

7. Global Facial Implants Market Analysis and Forecast, By Material Type
    7.1. Segment Overview
    7.2. Metal
    7.3. Polymer
    7.4. Ceramic
    7.5. Biologics

8. Global Facial Implants Market Analysis and Forecast, By Procedure
    8.1. Segment Overview
    8.2. Eyelid Surgery
    8.3. Rhinoplasty
    8.4. Facelift
    8.5. Chin Augmentation
    8.6. Cheek Bone Surgery
    8.7. Forehead Surgery
    8.8. Paranasal Procedures
    8.9. Others

9. Global Facial Implants Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Facial Implants Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in the Facial Implants Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Anthony Products Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. DePuy Synthes
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Eurosurgical Limited
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Hanson Medical Inc.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Integra Lifesciences
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Johnson & Johnson
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Kanghui Medical Innovation Co. Ltd.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Medartis AG
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Stryker Corporation
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Zimmer Biomet
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis

List of Table

1. Global Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

2. Global Chin and Mandibular Facial Implants Market, By Region, 2019-2030 (USD Billion) 

3. Global Nasal Facial Implants Market, By Region, 2019-2030 (USD Billion) 

4. Global Cheek Facial Implants Market, By Region, 2019-2030 (USD Billion) 

5. Global Injectables Facial Implants Market, By Region, 2019-2030 (USD Billion) 

6. Global Others Facial Implants Market, By Region, 2019-2030 (USD Billion) 

7. Global Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

8. Global Metal Facial Implants Market, By Region, 2019-2030 (USD Billion) 

9. Global Polymers Facial Implants Market, By Region, 2019-2030 (USD Billion) 

10. Global Ceramic Facial Implants Market, By Region, 2019-2030 (USD Billion) 

11. Global Biologics Facial Implants Market, By Region, 2019-2030 (USD Billion) 

12. Global Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

13. Global Eyelid Surgery Facial Implants Market, By Region, 2019-2030 (USD Billion) 

14. Global Rhinoplasty Facial Implants Market, By Region, 2019-2030 (USD Billion) 

15. Global Facelift Facial Implants Market, By Region, 2019-2030 (USD Billion) 

16. Global Chin Augmentation Facial Implants Market, By Region, 2019-2030 (USD Billion) 

17. Global Cheek Bone Surgery Facial Implants Market, By Region, 2019-2030 (USD Billion) 

18. Global Forehead Surgery Facial Implants Market, By Region, 2019-2030 (USD Billion) 

19. Global Paranasal Procedures Facial Implants Market, By Region, 2019-2030 (USD Billion) 

20. Global Others Facial Implants Market, By Region, 2019-2030 (USD Billion) 

21. Global Facial Implants Market, By Region, 2019-2030 (USD Billion) 

22. North America Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

23. North America Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

24. North America Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

25. U.S. Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

26. U.S. Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

27. U.S. Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

28. Canada Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

29. Canada Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

30. Canada Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

31. Mexico Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

32. Mexico Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

33. Mexico Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

34. Europe Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

35. Europe Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

36. Europe Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

37. Germany Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

38. Germany Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

39. Germany Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

40. France Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

41. France Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

42. France Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

43. U.K. Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

44. U.K. Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

45. U.K. Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

46. Italy Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

47. Italy Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

48. Italy Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

49. Spain Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

50. Spain Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

51. Spain Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

52. Asia Pacific Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

53. Asia Pacific Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

54. Asia Pacific Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

55. Japan Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

56. Japan Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

57. Japan Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

58. China Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

59. China Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

60. China Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

61. India Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

62. India Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

63. India Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

64. South America Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

65. South America Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

66. South America Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

67. Brazil Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

68. Brazil Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

69. Brazil Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

70. Middle East and Africa Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

71. Middle East and Africa Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

72. Middle East and Africa Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

73. UAE Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

74. UAE Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

75. UAE Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

76. South Africa Facial Implants Market, By Product Type, 2019-2030 (USD Billion) 

77. South Africa Facial Implants Market, By Material Type, 2019-2030 (USD Billion) 

78. South Africa Facial Implants Market, By Procedure, 2019-2030 (USD Billion) 

List of Figures 

1. Global Facial Implants Market Segmentation

2. Facial Implants Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Facial Implants Market Attractiveness Analysis by Product Type

9. Global Facial Implants Market Attractiveness Analysis by Material Type

10. Global Facial Implants Market Attractiveness Analysis by Procedure

11. Global Facial Implants Market Attractiveness Analysis by Region

12. Global Facial Implants Market: Dynamics

13. Global Facial Implants Market Share by Product Type (2022 & 2030)

14. Global Facial Implants Market Share by Material Type (2022 & 2030)

15. Global Facial Implants Market Share by Procedure (2022 & 2030)

16. Global Facial Implants Market Share by Regions (2022 & 2030)

17. Global Facial Implants Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the facial implants market based on below mentioned segments:

Facial Implants Market by Product Type:

  • Chin and Mandibular
  • Nasal
  • Cheek
  • Injectables
  • Others

Facial Implants Market by Material Type:

  • Metal
  • Polymer
  • Ceramic
  • Biologics

Facial Implants Market by Procedure:

  • Eyelid Surgery
  • Rhinoplasty
  • Facelift
  • Chin Augmentation
  • Cheek Bone Surgery
  • Forehead Surgery
  • Paranasal Procedures
  • Others

Facial Implants Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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