Oculoplastic surgery market is anticipated to grow at a considerable CAGR of 5.7% during the forecast period (2024-2031).An oculoplastic procedure is a type of surgery done around the eyes. This procedure is done to correct a medical problem or for cosmetic reasons. Oculoplastic procedures are usually done by eye doctors (ophthalmologists) who have special training in plastic or reconstructive surgery. In some cases, procedures are performed by doctors who specialize in head and neck surgery.

Market Dynamics

Rising prevalence of eye-related disorders

Increasing prevalence of eye-related disorders, such as blurry vision, wrinkles near the eyes, and droopy eyes is expected to aid the market growth. According to the American Society of Aesthetic Plastic Surgery, over 1.3 million eyelid procedures were performed in 2017, globally. The report also highlights that in the same year, approximately 17 million plastic surgery procedures were performed in U.S. alone. Increasing medical tourism and improved reimbursement policies in both developed and developing economies are anticipated to positively influence the growth of the oculoplastic surgery market in the foreseeable future.

Increasing medical tourism and reimbursement policy

Increasing medical tourism and improved reimbursement policies in both developed and developing economies are anticipated to positively influence the growth of the oculoplastic surgery market. Medical tourism allows people from countries with limited access or high costs for oculoplastic surgery to travel to other countries for treatment. This increases the pool of potential patients for oculoplastic surgeons, leading to higher demand for surgeries and overall market growth.As more procedures are performed, surgeons gain more experience and potentially drive innovation in oculoplastic surgery techniques. This can lead to better outcomes, attracting more patients and further expanding the market.

Market Segmentation

Our in-depth analysis of the global oculoplastic surgery market includes the following segments by procedure,and end users:

• Based on procedure, the market is sub-segmented intoeyelid surgery, face lift, brow lift & forehead lift, pediatric oculoplastic surgery and orbital surgery.

• Based on end users, the market is augmented into hospitals & clinics, ambulatory surgical centers, ophthalmology clinics and eye research institutes.

Ambulatory Surgical Centers is Projected to Emerge as the Largest Segment

Based on the end users, the global oculoplastic surgerymarket is sub-segmented into hospitals & clinics, ambulatory surgical centers, ophthalmology clinics and eye research institutes. Among these, the ambulatory surgical centers is anticipated to grow at a considerable CAGR.. The segmental growth is attributed to the increasing number of outpatient surgeries that do not require a hospital stay. Availability of ambulatory surgery center is helping in transforming healthcare facilities as well as the market for medical equipment. These surgical centers can offer surgical procedures at 35.0% to 50.0% lower price compared to hospitals. In 2018, there were 5,700 ambulatory surgical centers operating in the US with a combined revenue accounting to $35.0 billion. 

Eyelid Surgery Sub-segment to Hold a Considerable Market Share

Eyelid surgery also known as an eye lift or blepharoplasty removes excess skin from the upper eyelids and reduces bagginess from the lower eyelid. Rising geriatric population prone to various vision impairment problems and issues such as sagging upper eyelids is anticipated to drive the growth of the segment during the forecast period.

Regional Outlook

The globaloculoplastic surgerymarket is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). The cost of plastic surgery performed in developed as compared to developing countries varies significantly which is the primary regional growth driver. Japan is leading in Asia-Pacific region owing to a large number of beauty conscious people and rising aging population. According to the International Society of Aesthetic plastic, approximately 90.0% of all cosmetic surgeries were performed on the face in 2017. Latin America is also expected to grow significantly in the forecast period due to the rise in a number of eye-related surgeries.

Global Oculoplastic Surgery Market Growth by Region 2024-2031

North America Holds Major Market Share

Among all the regions, North America holds a significant share 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 US, 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.According to the American Society of Aesthetic Plastic Surgeons, blepharoplasty-removal of excess tissue around the eyelids-is one of the most common cosmetic procedures performed in the country. In 2018, 115,000 blepharoplasty procedures were performed in US.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global oculoplastic surgerymarket include INTEGRA LIFESCIENCES,    KARL STORZ SE & Co. KG, Stanford Health Care., Zimmer Biomet.,among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in 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.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global oculoplastic surgerymarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.