Saggy nipples, can anything be done? (Photo)

Thank you for the question.
Nipple reduction is an excellent procedure for the patient suffering from prominent nipples. This procedure can reduce the height and width of the nipple, usually preserving sensation. It can be done under local anesthesia or in combination with other procedures (under general anesthesia).
I like to use the “sleeve” technique to reduce the height of the nipple. This procedure leaves the core of the nipple intact preserving nerves and lactiferous ducts. The suture line generally heals very nicely in this area. The width of the nipple can be reduced by removing a triangular segment from the tip area. 
I hope this, and the attached link, helps.

Hello, some doctors report that they are able to reduce the size of the nipples without affecting the ability to breastfeed, so if you are seeking nipple surgery I would suggest specifically asking the surgeon if their technique will affect breastfeeding.  If this is important to my patients I recommend they wait until after they have finished having children.

Nipple reduction techniques usually preserve the ability to breast feed if you are simply interested in reducing the height.  Reducing the width is a little bit more involved but it looks like a height reduction with nipple flaps will fit the bill.  Find a board certified plastic surgeon who does alot of breast surgery for an individual consultation.