Market Trends of Oculoplastic Surgery Industry
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.
