Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Eyelid Surgery market.
Trusted Business Insights presents an updated and Latest Study on Eyelid Surgery Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Eyelid Surgery market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Eyelid Surgery Market
The global eyelid surgery market size was valued at USD 3.3 billion in 2018 and is expected to expand at a CAGR of 5.8% by 2026. As the skin ages, it gradually loses its elasticity, thereby causing wrinkles and bulges around the eyelid. Thus, rising geriatric population and growing demand for non-invasive surgical procedures are some of the major factors driving the market.
Eyelid surgery or blepharoplasty treatment is mainly performed to enhance the aesthetic appeal of eyes by correcting baggy eyelids, droopy eyelids, and other eyelid defects & disfigurations. Through blepharoplasty, excess fatty deposits can be altered, which reduces puffiness of the eyes. Thus, increasing incidence of such conditions is propelling demand for eyelid surgery, thereby driving growth.
Moreover, surgeons are increasingly using non-surgical technologies for eyelid surgery owing to its various advantages over traditional surgical techniques. As compared to conventional surgeries, which consist of surgical procedure, anesthetization, and long recovery time, modern technological procedures overcome these drawbacks. For instance, modern technologies using plasma exeresis method are cost-effective & non-invasive and have immediate effect. Such technological advancements are expected to drive the market over the forecast period.
Growing prevalence of eye-associated problems, especially in geriatric population, is expected to aid growth. Eye conditions such as droopy eyes, blurry vision, & wrinkles near the eyes are increasing globally, thereby stimulating the need for the targeted surgeries. This will ultimately boost demand in the forecast period. In addition, the demand for better appearance is also fueling market growth.
Eyelid problems are highly prevalent in Asia Pacific, especially China. Annually, millions of young people in China undergo eyelid surgery due to rising disposable income, the desire to look younger, or professional reasons. According to a report by the International Society of Aesthetic Plastic Surgery, approximate 1.3 million individuals globally underwent eyelid surgery in 2017, exhibiting the high demand for the procedure across the globe.
Type Insights of Eyelid Surgery Market
By procedure type, global eyelid surgery market is divided into upper eyelid and lower eyelid surgeries. Upper eyelid surgery segment held the largest share in 2018 and is expected to be the fastest growing segment in the forecast period owing to its high popularity compared to lower eyelid surgery.
Upper eyelid surgery removes excess skin along the upper eyelids & tightens drooping skin for better vision, which was earlier obstructed. Smoother forehead and more youthful appearance are few benefits that this surgery offers. These benefits attract consumers, which ultimately increases demand for eyelid surgeries.
The lower eyelid surgery segment is also expected to grow significantly in the forecast period owing to its benefits. Lower eyelid surgery removes fats, loose skin, & excessive skin in the lower lids, improves under bags, reduces circles, and smoothens eyelid lines & wrinkles. Awareness of these benefits among the large population is propelling the market.
By end use, the market is categorized into hospitals and clinics & surgery centers. Clinics & surgery centers segment held the maximum share in 2018 and is anticipated to dominate the market in the forecast period owing to increasing number of clinics and skilled cosmetic & plastic surgeons and rising preference for blepharoplasty. Moreover, increasing use of Botox or Dysport by clinic surgeons is propelling market growth. These injections effectively help raise eyebrows, thereby attracting customers for cosmetic surgeries.
The hospitals segment is also expected to grow significantly in the forecast period owing to factors such as improving infrastructure of hospitals, especially in the developing economies. In addition, the availability of high number of surgeons and advanced medical instruments is propelling growth of hospitals segment.
Regional Insights of Eyelid Surgery Market
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated in 2018 due to the availability of improved facilities and growing demand for cosmetic surgery from the large millennial and geriatric population. Moreover, quick adoption of innovative techniques and devices by the region is fueling the market.
Asia Pacific is expected to witness rapid growth over the forecast period. This can be attributed to increasing aging population, rising demand for cosmetic surgery, and gaining popularity of blepharoplasty as a medical treatment. In addition, growing number of patients undergoing eyelid surgery in economies such as South Korea & Japan and expanding cosmetic industry in India & China is expected to fuel growth in the forecast period. Rising number of eyelid surgeries in China is majorly due to increasing disposable income, growing acceptance of various cosmetic surgeries, and willingness to spend on improving appearance.
Latin America is also expected to grow considerably in the forecast period owing to rise in the number of cosmetic surgeries. For instance, in 2015, Brazil recorded total of 2,324,245 cosmetic procedures, just behind the U.S. Latin America offers medical surgeries at relatively lower cost compared to the U.S., thereby increasing medical tourism in this region.
Market Share Insights of Eyelid Surgery Market
Some of the key players are Stanford Health Care, USA Plastic Surgery, London Bridge Plastic Surgery, Montenegro Clinic of Plastic Surgery, and Shoyukai. The abovementioned players are focusing on increasing their credibility to provide enhanced services to blepharoplasty patients. The board-certified surgeons at these clinics & hospitals are specifically trained and have extensive experience in cosmetic procedures. Hence, all the surgeries are performed in an accredited surgical facility. The team of surgeons and medical experts at The University of Michigan guide their patients through every step of the procedure for best results. They also provide personalized care by conducting pre-operative and post-operative visits at Dominos Farms.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Eyelid Surgery Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this report, this market research report has segmented the global eyelid surgery market report on the basis of procedure type, end use, and region:
Procedure Type Outlook (Revenue, USD Million, 2019 – 2030)
Upper Eyelid Surgery
Lower Eyelid Surgery
End-use Outlook (Revenue, USD Million, 2019 – 2030)
Clinics & Surgery Centers
Quick Read Table of Contents of this Report @ Eyelid Surgery Market Size, Share, Global Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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