Oculoplastic Surgery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oculoplastic Surgery Market Analysis
The oculoplastic surgery market is expected to register a CAGR of 5.5% during the forecast period.
Surgery markets across the world have been negatively impacted due to the disruptions experienced by their respective manufacturing and supply-chain operations as a result of precautionary lockdowns and other restrictions enforced by governing authorities across the globe. Moreover, consumer demand has also subsequently reduced as individuals are now more keen on eliminating non-essential expenses from their respective budgets as the general economic status of most people has been severely affected by the pandemic. The aforementioned factors are expected to burden the revenue trajectory of the global oculoplastic surgery market during the forecast period. This may be attributed to the increasing number of eye-related disorders, age-related oculoplastic surgeries, and technological advancements. For instance, in August 2021, as per the National Library of Medicine, contributors to the burden of eye disease at the global level are refractive errors (27.7 million DALYs), cataracts (17.7 million DALYs), macular degeneration (9.3 million DALYs), glaucoma (4.7 million DALYs), trachoma (1.3 million DALYs), etc. Thus, the increasing number of eye-related disorders is driving the growth of the market studied.
With the growing aging population, there would be an increase in disorders related to the face and eyelids, resulting in the market's growth. For instance, according to the World Health Organization, by 2030, one in six people in the world will be aged 60 years and above. At this time, the share of the population aged 60 years and above will increase from 1 billion in 2020 to 1.4 billion.
Key players operating in the market are focusing on submitting applications for the approval of intraocular lenses, oculoplastic surgery devices, etc., for use in ocular surgery, which is expected to drive the growth of the global oculoplastic surgery market over the forecast period. For instance, in April 2021, Bausch & Lomb Incorporated, a US-based eye health products company, received the United States Food and Drug Administration (FDA) approval for ClearVisc, a dispersive ophthalmic viscosurgical device (OVD) to be used in ocular surgery. ClearVisc contains sorbitol which protects from free radicals during cataract surgery. Moreover, in February 2021, Johnson & Johnson Vision announced that it received the United States Food and Drug Administration (FDA) approval for its TECNIS Eyhance Toric II monofocal intraocular lens (IOL) that can be used in cataract surgery of patients with or without astigmatism, an imperfection in the curvature of the eye.
However, the high cost of surgeries and lack of reimbursement policies may hamper the growth of the market to a certain extent.
Oculoplastic Surgery Market Trends
This section covers the major market trends shaping the Oculoplastic Surgery Market according to our research experts:
Eyelid Surgery in Oculoplastic Surgery is Expected to Witness a Healthy Growth in Future
The eyelid surgeries segment is expected to witness healthy growth in the future, attributed to the growing number of eyelid surgeries worldwide. For instance, as per the American Society of Plastic Surgeons, an estimated 1.3 million eyelid procedures were carried out globally in 2021. Eyelid surgeries are also called eyelifts and blepharoplasty, where an excess of skin is removed from the upper eyelid and reduces bagginess from the lower eyelid.
As per the American Society of Plastic Surgeons, eyelid surgery is often performed for cosmetic reasons. The source also revealed that blepharoplasty was one of the five most popular procedures among both men and women and the single most popular procedure among patients aged 65 and older. Blepharoplasty removes excess skin from the eyelids. With age, eyelids stretch, and the muscles supporting them weaken. As a result, excess skin and fat can gather above and below the eyelids. This can cause sagging eyebrows, droopy upper lids, and bags under the eyes. Besides aging, severely sagging skin around the eyes can reduce side vision (peripheral vision), especially the upper and outer parts of the visual field. Blepharoplasty can reduce or get rid of these vision problems. The surgery can also make the eyes look younger and more alert.
Thus, the advantages of eyelid surgery and the growing geriatric population are driving the growth of the market studied.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to hold a significant market share in the global oculoplastic surgery market due to the increasing aging population, rising disposable income, and willingness to spend on aesthetic surgeries. As per the American Society of Plastic Surgeons, in 2021, around 23 million plastic surgery procedures were performed in the United States, leading to a boost in the market in this region.
Rising awareness levels and developed healthcare infrastructure would raise the market in this region. An ophthalmologist performs LASIK surgery using a laser or microkeratome to reshape the eye's cornea and improve visual acuity. As of 2021, roughly 12 million Americans had LASIK. The prevalence of presbyopia was estimated at nearly 80% by ages 45-55 in North America, with an estimated 16.5% of these individuals without adequate correction.
Forty million people around the globe had LASIK surgery. In the United States, over ten million Americans have chosen to improve their vision and their quality of life with this treatment. In 2020, 718,000 people in the United States opted for LASIK surgery to ditch their eyeglasses or contacts.
Moreover, growing medical tourism, increasing healthcare expenditure, and the presence of well-established healthcare infrastructure are also greatly fueling the overall growth of the market in North America. In April 2021, as per the national library of medicine, many American patients visited South or Central American countries like Brazil, Argentina, or Costa Rica for cosmetic treatment, as they can travel cost-effectively and avail themselves of advanced cosmetic surgery. Mexico is a popular destination for American patients who need primary and dental care.
Thus, the aforementioned factors are boosting the growth of the market in the region.
Oculoplastic Surgery Industry Overview
The oculoplastic surgery market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Sklar Surgical Instruments, TEKNO-MEDICAL Optik-Chirurgie GmbH, Zimmer Biomet Holdings Inc., Integra Life Science, B. Braun Melsungen AG, Katena (Blink Medical Ltd), Karl Storz, Bolton Surgical Ltd, Stanford Health Care, and Blink Medical Ltd.
Oculoplastic Surgery Market Leaders
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TEKNO-MEDICAL Optik-Chirurgie GmbH
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Integra Life Science
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B. Braun Melsungen AG
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Karl Storz
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Katena (Blink Medical Ltd.)
*Disclaimer: Major Players sorted in no particular order
Oculoplastic Surgery Market News
- August 2021: The Light Adjustable Lens and Light Delivery Device from RxSight Inc. were the first systems that allowed a physician to make minor adjustments to the implanted lens to improve vision after the procedure.
- August 2021: Alcon Inc., a subsidiary of Novartis, acquired Ivantis Inc. and its HydrusMicrostent for surgical glaucoma. The acquisition supports Alcon's commitment to further strengthen its industry-leading portfolio across refractive, retina, cataract, and glaucoma.
Oculoplastic Surgery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Eye Related Disorder
4.2.2 Growing Number of Age-Related Oculoplastic Surgeries
4.2.3 Technological Advancement
4.3 Market Restraints
4.3.1 High Cost of Surgeries and Lack of Reimbursement
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Procedure Type
5.1.1 Eyelid Surgery
5.1.2 Brow Lift and Forehead Lift
5.1.3 Facelift
5.1.4 Pediatric Oculoplastic surgery
5.1.5 Other Procedure Types
5.2 By End User
5.2.1 Hospitals
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 TEKNO-MEDICAL Optik-Chirurgie GmbH
6.1.2 Zimmer Biomet Holdings Inc.
6.1.3 Integra Life Science
6.1.4 B. Braun Melsungen AG
6.1.5 Blink Medical Ltd
6.1.6 Karl Storz
6.1.7 Bolton Surgical Ltd
6.1.8 Stanford Health Care
6.1.9 Katena (Blink Medical Ltd)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oculoplastic Surgery Industry Segmentation
The oculoplastic surgery market deals with a number of surgeries carried out around the eyelid or face. The oculoplastic surgery market is segmented by procedure type (eyelid surgery, brow lift and forehead lift, facelift, pediatric oculoplastic surgery, other procedure types), end user (hospitals, ambulatory surgical centers, and other end users), and geography (North America, Europe, Asia-Pacific, and Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers values in USD million for all the above-mentioned segments.
| By Procedure Type | |
| Eyelid Surgery | |
| Brow Lift and Forehead Lift | |
| Facelift | |
| Pediatric Oculoplastic surgery | |
| Other Procedure Types |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Other End Users |
| By Geography | ||||||||
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Oculoplastic Surgery Market Research FAQs
What is the current Oculoplastic Surgery Market size?
The Oculoplastic Surgery Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Oculoplastic Surgery Market?
TEKNO-MEDICAL Optik-Chirurgie GmbH, Integra Life Science, B. Braun Melsungen AG, Karl Storz and Katena (Blink Medical Ltd.) are the major companies operating in the Oculoplastic Surgery Market.
Which is the fastest growing region in Oculoplastic Surgery Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Oculoplastic Surgery Market?
In 2024, the North America accounts for the largest market share in Oculoplastic Surgery Market.
What years does this Oculoplastic Surgery Market cover?
The report covers the Oculoplastic Surgery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oculoplastic Surgery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oculoplastic Surgery Industry Report
Statistics for the 2024 Oculoplastic Surgery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oculoplastic Surgery analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
