Market Size of Oculoplastic Surgery Industry
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 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 | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Oculoplastic Surgery Market Size Summary
The oculoplastic surgery market is poised for growth, driven by an increasing prevalence of eye-related disorders and advancements in surgical technologies. Despite the challenges posed by the pandemic, which disrupted manufacturing and supply chains and led to a decline in consumer demand, the market is expected to recover and expand. The aging population is a significant factor contributing to market growth, as age-related disorders of the face and eyelids become more common. Key industry players are actively seeking regulatory approvals for innovative surgical devices, which is anticipated to further propel market expansion. However, the high cost of surgeries and the lack of comprehensive reimbursement policies may pose challenges to market growth.
North America is projected to maintain a substantial share of the global oculoplastic surgery market, supported by a growing elderly population, increased disposable income, and a strong inclination towards aesthetic procedures. The region's well-developed healthcare infrastructure and rising awareness levels are also contributing to market growth. Additionally, the trend of medical tourism, where patients seek cost-effective cosmetic treatments abroad, is bolstering the market. The competitive landscape is characterized by the presence of several major players, with ongoing innovations and strategic acquisitions enhancing their market positions. These factors collectively underscore the dynamic nature of the oculoplastic surgery market and its potential for continued growth.
Oculoplastic Surgery Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Increasing Number of Eye Related Disorder
-
1.2.2 Growing Number of Age-Related Oculoplastic Surgeries
-
1.2.3 Technological Advancement
-
-
1.3 Market Restraints
-
1.3.1 High Cost of Surgeries and Lack of Reimbursement
-
-
1.4 Porter's Five Force Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Procedure Type
-
2.1.1 Eyelid Surgery
-
2.1.2 Brow Lift and Forehead Lift
-
2.1.3 Facelift
-
2.1.4 Pediatric Oculoplastic surgery
-
2.1.5 Other Procedure Types
-
-
2.2 By End User
-
2.2.1 Hospitals
-
2.2.2 Ambulatory Surgical Centers
-
2.2.3 Other End Users
-
-
2.3 By Geography
-
2.3.1 North America
-
2.3.1.1 United States
-
2.3.1.2 Canada
-
2.3.1.3 Mexico
-
-
2.3.2 Europe
-
2.3.2.1 Germany
-
2.3.2.2 United Kingdom
-
2.3.2.3 France
-
2.3.2.4 Italy
-
2.3.2.5 Spain
-
2.3.2.6 Rest of Europe
-
-
2.3.3 Asia-Pacific
-
2.3.3.1 China
-
2.3.3.2 Japan
-
2.3.3.3 India
-
2.3.3.4 Australia
-
2.3.3.5 South Korea
-
2.3.3.6 Rest of Asia-Pacific
-
-
2.3.4 Middle East and Africa
-
2.3.4.1 GCC
-
2.3.4.2 South Africa
-
2.3.4.3 Rest of Middle East and Africa
-
-
2.3.5 South America
-
2.3.5.1 Brazil
-
2.3.5.2 Argentina
-
2.3.5.3 Rest of South America
-
-
-
Oculoplastic Surgery Market Size 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.