The global oculoplastic surgery market size is expected to reach USD 11.0 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a 5.72% CAGR over the forecast period. The market is primarily driven by the rising geriatric population, increasing number of oculoplastic surgical procedures, and technological advancements in the medical aesthetics industry. Furthermore, increasing patient awareness and rising disposable income are also fueling the growth. Factors such as the rising disposable income, standard of living, social media influence, and awareness among people are anticipated to bode well for the growth.
According to the results from a survey conducted by the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS), social media has massive impact on aesthetics, especially in the way consumers perceive and project themselves. The survey results highlighted that 55% of facial plastic surgeons consulted patients who wanted to look better in selfies in 2017, showing a 13% increase from the previous year.
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With a wide range of oculoplastic surgery procedures available in the market, more people are willing to undergo such treatment due their affordability and feasibility. Furthermore, rising medical tourism and better reimbursement policies are also boosting the market growth. According to the Journal of Medicine, the number of medical tourists to all countries was estimated to be 14 million to 16 million in 2017. The medical tourism market is anticipated to witness significant growth over the forecast period, which is expected to bode well for the overall market for oculoplastic surgery.
Oculoplastic Surgery Market Report Highlights
• North America accounted for the largest market share in 2018, owing to the presence of favorable reimbursement policies, presence of key players, and supportive government initiatives
• By procedure, eyelid segment accounted for the largest market share and is expected to maintain its dominance during the forecast period. In 2015, over 1,264,702 eyelid surgeries were performed globally
• Browlift and forehead lift segment is expected to register the fastest growth during the forecast period owing to high adoption of this surgery
• Some of the key companies in the oculoplastic surgery market are Integra Life Sciences; Anthony Product, Inc.; Sklar Surgical Instruments; B. Braun Melsungen AG; Blink Medical Ltd.; Bolton Surgical Ltd.; Integra Life Sciences; and Karlz Storz. These players are focusing on new product launches to introduce advanced services
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Oculoplastic Surgery Market Segmentation
Grand View Research has segmented the global oculoplastic surgery market on the basis of procedure, end use, and region:
Oculoplastic Surgery Procedure Outlook (Revenue, USD Million, 2015 - 2026)
• Eyelid Surgery
• Face Lift
• Brow Lift & Forehead Lift
• Pediatric Oculoplastic surgery
• Orbital Surgery
Oculoplastic Surgery End Use Outlook (Revenue, USD Million, 2015 - 2026)
• Hospitals & Clinics
• Ambulatory Surgical Centers
Oculoplastic Surgery Regional Outlook (Revenue, USD Million, 2015 - 2026)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
o Colombia
• Middle East & Africa
o South Africa
o Saudi Arabia
o UAE
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.