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Colored Contact Lenses Refractive Surgery Refractive Lasers
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Colored Contact Lenses

Refractive Surgery
Refractive Lasers

Cosmetic Surgery

Cosmetic Products

Vitiligo

Colored Contact Lenses

Coloured contact lenses is a predominantly used for aesthetic value. There are various colur and size options available for colured contact lenses. The increasing importance of aesthetic value in the younger population has skyrocketted the demand for colored contact lenses. The rise in the influence of social media presence has dramatically increase the demand for coloured lenses. Technological advancements have helped develop a natral look to these artificial lenses

Owing to the increase in the influence of social media, the generation Z population have increasingly accepted the use of color contact lenses to enhance or alter their appearance. Additionally, owing to the increase in number of players offering economic value to these products have assisted in the growth of accessibility to its customers. All these factors are estimated to drive the market of coloured contact lenses in the coming years.

However, an increasing popularity of these coloured contact lenses have increase the risks associated with the use of the product. The improper use of these highly sensitive product has led to adverse reaction in customers. These factors are estimated to hamper the growth of the market in globally.

MARKET SEGMENTATION:

Globally, the coloured contact lenses market can be segmented on the basis of product type, by material, by distribution channel, and region. Based on the product type, the market can be segmented into soft contact lenses, RGB lenses and hybrid lenses. By the segmentation of material, the market can be categorised into hydrogel and polymers. Based on the distribution channel, retail stores, online stores and others.

Geographically, the coloured contact lenses market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

KEY PLAYERS COVERED:

Some of the major companies that are present in the coloured contact lenses market are Johnson and Johnson Services, Inc., Coopervision, Bausch & Lomb, Alcon, Innovision Lens, VIEWELL.INC, Grandvision, QualiMed, among others.

REGIONAL ANALYSIS:

Based on segmentation of geography, the coloured contact lenses market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North American region is likely to dominate the coloured contact lenses market and is projected to follow the same trend over the projected timeframe. The growth is attributed to the high awareness regarding new product launches and trends in colored contact lenses. Combined with this, higher investment in R&D for such products is anticipated to foster the coloured contact lenses market in the North America. Europe is projected to be the second highest valued market globally over the forecast duration. Favorable reimbursement policies, robust government initiative for public awareness regarding Coloured Contact Lenses and active government funding in healthcare sector is projected to bolster the market growth in the region. China and countries like South Korea is estimated to witness the highest growth in the coloured contact lenses market. Increasing influence of K-pop culture in the countries of Asia-Pacific is estimated to impellthe growth of the market. The market in Latin America and the Middle East and Africa are expected to capture lower share in the global coloured contact lenses market owing to lower availability of coloured contact lenses in the regions.

Colored Contact Lenses Market Analysis and Size

The increasing incidence of ophthalmic disorders is a key driver contributing to the growth of the colored contact lenses market. The rising popularity of colored contact lenses over traditional spectacles, driven by the desire for improved facial aesthetics, especially among youth and the entertainment industry, is expected to boost the colored contact lenses market. Additionally, the increasing preference for branded cosmetic contact lenses is likely to support market growth. However, cost disparities between branded and unbranded options may hinder the market’s growth in the foreseeable future.

Data Bridge Market Research analyses that the global colored contact lenses market which was USD 4.33 billion in 2022, is expected to reach USD 7.19 billion by 2030, and is expected to undergo a CAGR of 6.54% during the forecast period of 2023 to 2030. “Opaque Tint “dominates the type segment of global colored contact lenses market, due to its popularity in altering eye color significantly, meeting both cosmetic and medical needs for individuals seeking a dramatic change. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Market Definition

The colored contact lenses are thin, curved devices placed directly on the eye’s cornea to enhance or change the natural eye color temporarily. They are primarily used for cosmetic purposes but can also serve as corrective lenses for vision correction.

Global Colored Contact Lenses Market Dynamics

Drivers

  • Growing Cosmetic and Aesthetic Trends

The market for colored contact lenses is flourishing due to the increasing popularity of these lenses for cosmetic and aesthetic purposes. Many consumers seek to enhance their appearance by changing their eye color, and colored contact lenses offer a non-permanent and versatile option. As fashion trends evolve, the demand for a variety of colors and designs continues to grow, driving market expansion.

  • Increase in the Ophthalmic Disorders

The prevalence of ophthalmic disorders and vision problems is a significant driver of the colored contact lenses market. These lenses are not only used for cosmetic reasons but also as therapeutic solutions. Colored lenses can aid in managing conditions like astigmatism or photophobia while offering vision correction, making them a preferred choice for individuals with various eye health needs.

Opportunities

  • Emerging Markets for Colored Contact Lenses

Emerging markets present promising opportunities for colored contact lenses. These regions, characterized by rising disposable incomes and changing lifestyles, have witnessed a surge in demand for cosmetic and therapeutic lenses. Market players can tap into these markets by offering a diverse range of products and tailored solutions to cater to the preferences of consumers in these regions.

  • Advancements in Lens Technology

The global colored contact lenses market holds potential in expanding its use in medical applications. These lenses can serve as prosthetic or therapeutic solutions for individuals with eye conditions, injuries, or post-surgical needs. As advancements in lens technology continue, there are opportunities to develop specialized medical lenses that can address a broader spectrum of eye health issues.

Restraints/Challenges

  • Health and Safety Concerns

One of the challenges facing the global colored contact lenses market is addressing health and safety concerns. Proper usage, care, and maintenance of these lenses are essential for eye health. Ensuring that consumers are well-informed about the safe handling and hygiene practices associated with colored lenses is crucial to mitigate risks and build trust in the market.

  • Regulatory Compliance and Standards

Stringent regulations and standards governing the manufacturing and sale of contact lenses can act as a restraint on market growth. Complying with these regulations, obtaining necessary approvals, and ensuring product safety and quality can be resource-intensive and time-consuming for manufacturers and may impact product availability and distribution.

This white goods market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the white goods market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In June, 2023, Alcon will exhibit innovative eye care solutions at Optometry’s Meeting, featuring the TOTAL30 portfolio of reusable Water Gradient lenses, bridging the comfort gap for patients. Experts will share insights and previews of upcoming innovations
  • In September, 2022, Johnson & Johnson Vision Care launched ACUVUE OASYS MAX 1-DAY and ACUVUE OASYS MAX 1-Day MULTIFOCAL contact lenses with TearStable Technology and OptiBlue light filter. These innovations address digital device-related eye strain and presbyopia, offering comfort and visual clarity amid increasing screen time.

Global Colored Contact Lenses Market Scope

The global colored contact lenses market is segmented on the basis of type, distribution channel and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

 

Global Colored Contact Lenses Market Regional Analysis/Insights

The global colored contact lenses market is analysed and market size insights and trends are provided by region, country, type, distribution channel and application as referenced above.

The countries covered in the global colored contact lenses market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of the Middle East and Africa

Asia-Pacific is expected to dominate the global colored contact lenses market and is also the fastest growing region during the forecasted period of 2023 to 2030, due to its large population, rising disposable incomes, increasing cosmetic trends, and growing awareness of eye health, creating a substantial demand for colored contact lenses.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Colored Contact Lenses Market Share Analysis

The global colored contact lenses market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global colored contact lenses market.

Refractive Surgery

LASIK Eye Surgery Market Research Report: Information By Application (Wavefront Optimized, Wavefront-guided, Topography-guided, and Laser), By End-User (Hospitals, Eye Care Clinics, and LASIK Facilities) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/MED/1242-HCR | 85 Pages | Published By Kinjoll Dey on January 2024

Global LASIK Eye Surgery Market Overview

The LASIK Eye Surgery Market Size was valued at USD 2.5 Billion in 2022 and is projected to grow from USD 2.64 Billion in 2023 to USD 4.08 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2023 – 2032). Increased demand for partially invasive or non-invasive surgical treatments and technological advancement in LASIK eye surgery are the key market drivers contributing to the market’s growth and expansion.

 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

The growth rate of the LASIK eye surgery market is being propelled by the increasing demand for minimally invasive surgical procedures. Increases in the prevalence of eye diseases, in healthcare spending, in the demand for minimally invasive surgical treatments, in the number of eye care facilities offering individualized LASIK technology, in patient education about the benefits and risks of these procedures, and in governmental support have all contributed to the growth of the LASIK Eye surgery market.

Key market drivers contributing to the growth and expansion of the market include rising demand for minimally invasive or non-invasive surgical procedures and advances in LASIK eye surgery technology. One reason for the industry’s growth is the development of various highly effective therapies that reduce the need for corrective lenses or glasses. The market is expected to grow as a result of increased interest in minimally invasive surgical techniques.

Furthermore, almost any surgical procedure can have unintended consequences, although LASIK has earned a stellar reputation for its relative safety. With a risk of adverse events of fewer than 1%, it is among the safest surgical procedures now in use. Opportunities will arise as a result of growing older populations in developing economies, increased healthcare R&D spending, and technological advances in paracetamol production.

 

LASIK Eye Surgery Market Trends

  • The growing demand for partially invasive surgical treatments is driving the market growth.

Market CAGR for LASIK eye surgery is driven by the rising demand for partially invasive surgical treatments. The growing number of individuals struggling with these eye conditions, along with increased care spending, increased need for minimally invasive surgical treatments, the increasing quantity of eye care centers providing personalized LASIK technology, growing knowledge about the effectiveness and security of advances in technology, and rising funding from the government officials, are all leading to the development of the LASIK Eye surgery the sector. One of the key drivers for the expanding industry is the discovery of numerous extremely successful therapies that lessen the patient’s reliance on lenses or glasses. Furthermore, rising demand for less invasive surgical procedures will likely drive market expansion.

Additionally, nearly all surgeries have the risk of problems and adverse effects, yet LASIK is widely recognized as a safe technique with minimal complications. It is considered one of the healthiest surgical procedures available today, with an adverse event risk of less than 1%. A review of current research, LASIK has a 90% success rate for reaching 20/20 vision with an achievement rate of 95% in attaining 20/40 vision or better. Contour Vision represents one of the contemporary developments in Eyewear Removal using Laser Vision Correction. Expanding technical developments and modernization in paracetamol manufacturing, expanding R&D efforts in the healthcare industry, and developing emerging economies with an increasing senior population base will all generate new opportunities.

As COVID-19 spreads worldwide, the illness is causing concern in the medical profession, especially within the ophthalmologist community. CMS released guidelines to medical professionals asking them to remove adult optional surgeries and operations, especially ocular therapies. The move aims to safeguard patients and personnel against COVID infection while maintaining ventilation supplies and personal protective gear such as masks and robes. The initial drop in ophthalmic operations is likely offset by a reduction in limitation and a drop in COVID-19 instances. Furthermore, the long-term influence of COVID-19 will contribute to market expansion throughout the projection period. With the improvement of multiple sectors and medical practices, the market is predicted to increase again.

For instance, as per WHO’s research, epidemiological investigations indicate that myopia impacts 1.89 billion individuals worldwide, with estimates indicating that if prevalence rates remain unchanged, it will affect 2.56 billion individuals. This factor is fueling the growth of the myopic group, which is predicted to grow at a considerable CAGR during the forecast time frame. Therefore, it is anticipated that demand for LASIK Eye Surgery will increase throughout the projection period due to the rising demand for partially invasive surgical treatments. Thus, driving the LASIK Eye Surgery market revenue.

LASIK Eye Surgery Market Segment Insights

LASIK Eye Surgery Application Insights

The market segments of LASIK eye surgery, based on application, includes wavefront optimized, wavefront-guided, topography-guided, and laser. Wavefront optimized dominated the market, accounting for 46% of the market share (USD 1.2 Billion) in 2022. This market increase might be attributed to advancements in areas like visual perception, higher-order aberrations, and predictability. These therapies can effectively and safely cure myopia in each eye, either with or without distortion. Therefore, this is considered the stimulus behind the industry’s expansion.

LASIK Eye Surgery End-User Insights

The LASIK eye surgery market segmentation, based on end-user, includes hospitals, eye care clinics, and lasik facilities. The LASIK facilities category generated the highest revenue of about 44% (USD 1.1 billion) in 2022. The development of LASIK facilities worldwide has contributed to this market’s growth. Reasons driving the advancement of this market category include a rise in the number of individuals with eye disorders and an increase in the need for less-invasive operations. Eye care clinics are expected to grow rapidly during the projected timeframe due to the availability of advanced technology and experts.

Figure 1: LASIK Eye Surgery Market by End-User, 2022 & 2032 (USD Billion)

 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

March 2023,The most recent innovation in glasses-free vision correction, called Contoura Vision, debuted in India. This procedure has been deemed safe by the Food and Drug Administration in the United States. The machine works on the visual axis to cure corneal imperfections in addition to refractive flaws of the eye and the power of prescription glasses. The Contoura Vision treatment does not require blades and is completely painless. No hospitalization, injections, or stitches are necessary. Without the need for glasses or contacts, anyone can have their eyesight corrected in a single day with a bespoke treatment.

July 2023,LASIK by OCLI Vision is an offshoot of OCLI Vision with the mission of becoming the region’s go-to center for laser eye surgery. OCLI Vision is well positioned to set a new benchmark for LASIK surgery in the United States due to its unwavering dedication to customer satisfaction and its dedication to constant innovation. Bladeless, monovision, bespoke, and photorefractive keratectomy (PRK) LASIK eye surgery are just some of the options available from their team of top-tier eye doctors. Spectrum Vision Partners helps fund their extensive eye care services, which they offer in a number of convenient locations, giving patients easy access to cutting-edge methods of treatment.

LASIK Eye Surgery Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American LASIK Eye Surgery market area will dominate this market because of advanced technology, a rising population impacted by vision disorders, significant spending on healthcare, and greater government support for development and research. In addition, increased R&D activities and the dominance of large firms in this sector will boost market growth in this region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Lasik Eye Surgery Market Share by Region 2022 (USD Billion)

 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’ LASIK Eye Surgery market accounts for the second-largest market share. Government funding for technological advancement and the accessibility of research funds will boost overall market growth. Further, the German market of LASIK Eye Surgery holds the largest market share, and the UK market LASIK Eye Surgery is expected to grow rapidly in the European region during the projected timeframe.

The Asia-Pacific LASIK Eye Surgery Market is expected to grow fastest during the projected timeframe. This is due to rapidly advancing medical technology, a huge patient population, and expensive healthcare expenditures that will boost the overall market growth. Moreover, China’s LASIK Eye Surgery market dominates the market share, and the Indian market LASIK Eye Surgery is expected to grow and expand steadily in the Asia-Pacific region during the projected timeframe.

LASIK Eye Surgery Key Market Players & Competitive Insights

Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the market of LASIK Eye Surgery grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The LASIK Eye Surgery industry must offer cost-effective and sustainable options to survive in a dynamic market.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the LASIK Eye Surgery industry to benefit customers and capture untapped market share and revenue. The LASIK Eye Surgery industry has recently offered significant advantages to the medicine and service industry. Moreover, more industry participants are utilizing and adopting surgery, and cutting-edge technology has grown substantially. Major players in the LASIK Eye Surgery market, including Abbott Inc. (U.S.), Alcon Laboratories Inc. (U.S.), AMO Manufacturing USA, LLC (U.S.), Bausch & Lomb Incorporated (U.S.), Carl Zeiss, Inc. (Germany), LaserSight Technologies, Inc (U.S.), Nidek Inc. (Japan).and others, are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.

Stanford University, School of Medicine, is Stanford University’s medical institution in Stanford, California. It was established in San Francisco in 1858. The Stanford School of Medicine has an extensive record of innovation in healthcare research, higher education, and treatments. Its close link with Stanford’s other main institutions, connected adult and pediatric healthcare facilities, and continued ties to Silicon Valley provide it an excellent position to expedite the velocity at which new information is transformed into concrete medical advantages. A research investigation was launched in October 2022 by the Stanford University School of Medicine (United States) to compare the outcomes of wavefront-guided LASIK against topography-guided LASIK in shortsighted persons’ randomized contralateral buddy eye examinations.

Nidek Technologies is Dedicated to the research, development, and manufacture of technologically advanced, novel diagnostic software and instruments for ophthalmology that meet the highest quality requirements. They use creativity and ingenuity to create products to build distinctive solutions for different clinical uses. They specialize in optics and developing specialized software for their equipment, as well as computations, interactions, and automation (AI & DL). They provide the most advanced high-tech rapid prototyping methods to achieve unmatched efficiency during the shortest time to marketplace. Nidek Technologies SRL acquired Nidek Medical SRL in July 2022 to extend its ophthalmic medical devices and enhance sales. This strategy will allow the firm to create a strong LASIK Eye Surgery sector presence.

Key Companies in the LASIK Eye Surgery market include

  • Abbott Inc. (U.S.)

  • Alcon Laboratories Inc. (U.S.)

  • AMO Manufacturing USA, LLC (U.S.)

  • Bausch & Lomb Incorporated (U.S.)

  • Carl Zeiss, Inc. (Germany)

  • LaserSight Technologies, Inc (U.S.)

  • Nidek Inc. (Japan)

LASIK Eye Surgery Industry Developments

October 2022:A research investigation was launched in October 2022 by the Stanford University School of Medicine (United States) to compare the outcomes of wavefront-guided LASIK against topography-guided LASIK in shortsighted persons’ randomized contralateral buddy eye examinations.

July 2022:Nidek Technologies SRL acquired Nidek Medical SRL in July 2022 to extend its ophthalmic medical devices and enhance sales. This strategy will allow the firm to create a strong LASIK Eye Surgery sector presence.

August 2021:Nielsen Eye Centre will join the Eye Health Association of America in August 2021. This purchase will improve the consistency of Eye Health of America’s patient care in the Tampa Bay Area.

LASIK Eye Surgery Market Segmentation

LASIK Eye Surgery Application Outlook

  • Wavefront optimized

  • Wavefront-guided

  • Topography-guided

  • Laser

LASIK Eye Surgery End-User Outlook

  • Hospitals

  • Eye care clinics

  • LASIK facilities

LASIK Eye Surgery Regional Outlook

  • North America

  • US

  • Canada

  • Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Refractive Lasers

Global Refractive Surgery Devices  Market, By Product Type (Laser, Phakic Intraocular Lens (IOL), Aberrometer/Wavefront Aberrometry, Surgical Instruments & Accessories, Refractive Surgery Kits, Pupillary Diameter Meters, Epikeratomes, Microkeratomes, Thermokeratoplasty, Limbal Relaxing Incision Kits and Others), Surgery Type (LASIK (Laser In-Situ Keratomileusis, Photorefractive Keratectomy (PRK), Phakic Intraocular Lenses (IOL), Astigmatic Keratotomy (AK), Automated Lamellar Keratoplasty (ALK), Intracorneal Ring (INTACS), Laser Thermal Keratoplasty (LTK), Conductive Keratoplasty (CK), Radial Keratotomy (RK) and Others), Application (Nearsightedness (Myopia), Farsightedness (Hyperopia), Astigmatism and Presbyopia), End User (Hospitals, Speciality Clinics, Ambulatory Surgical Centers  and Others), Distribution Channel (Direct Tender, Third Party Distributors and Others) Industry Trends and Forecast to 2029.

 

 Market Definition and Insights

Refractive surgery devices are used to improve or correct refractive errors such as nearsightedness (myopia), farsightedness (hyperopia), presbyopia, or astigmatism. These devices include excimer lasers, YAG Lasers, microkeratomes, and femtosecond lasers. Refractive surgeries highly reduce the dependency on eyeglasses or contact lenses. Various refractive devices are used in the market to treat vision defects.

 

 

Refractive errors are caused due to the improper shape of the cornea or eyeballs. Refractive surgery procedure includes the reshaping of the eyeballs or cornea using various refractive surgery devices such as advanced lasers, LASIK treatments, photorefractive keratectomy, and various lenses such as phakic intraocular lenses and toric intraocular lenses.

Global refractive surgery devices market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.2% in the forecast period of 2022 to 2029 and is expected to reach USD 2,611.13 million by 2029 from USD 1,420.96 million in 2021.

REPORT METRIC

 

DETAILS

 

Forecast Period

 

2022 to 2029

 

Base Year

 

2021

 

Historic Years

 

2020 (Customizable to 2019 – 2014)

 

Quantitative Units

 

Revenue in USD Million

 

Segments Covered

 

By Product Type (Laser, Phakic Intraocular Lens (IOL), Aberrometers/Wavefront Aberrometry, Surgical Instruments & Accessories, Refractive Surgery Kits, Pupillary Diameter Meters, Epikeratomes, Microkeratomes, Thermokeratoplasty, Limbal Relaxing Incision Kits and Others), Surgery Type (LASIK (Laser In-Situ Keratomileusis, Photorefractive Keratectomy (PRK), Phakic Intraocular Lenses (IOL), Astigmatic Keratotomy (AK), Automated Lamellar Keratoplasty (ALK), Intracorneal Ring (INTACS), Laser Thermal Keratoplasty (LTK), Conductive Keratoplasty (CK), Radial Keratotomy (RK) and Others), Application (Nearsightedness (Myopia), Farsightedness (Hyperopia), Astigmatism and Presbyopia), End User (Hospitals, Speciality Clinics, Ambulatory Surgical Centers  and Others), Distribution Channel (Direct Tender, Third Party Distributors and Others)

 

Countries Covered

 

U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Netherlands, Russia,  Switzerland, Belgium, Turkey, Austria, Norway, Hungary, Lithuania, Ireland, Poland Rest of Europe, China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Rest Of Asia-Pacific, Brazil, Argentina, Peru, Rest Of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Kuwait, Rest of the Middle East and Africa

 

Market Players Covered

 

Tracey Technologies, Bausch + Lomb Incorporated, BD, STAAR SURGICAL, SCHWIND eye-tech-solutions, Hoya Surgical Optics, Johnson & Johnson Services, Inc., Ophtec BV, Glaukos Corporation, Amplitude Laser, Reichert, Inc., NIDEK CO., LTD., Ziemer Ophthalmic Systems, ROWIAK GmbH, Moria, LENSAR, Inc., Topcon Canada Inc. (A subsidiary of Topcon Corporation), Aaren Scientific Inc., Rayner Intraocular Lenses Limited., iVIS Technologies, Alcon among others

The Market Dynamics of the Refractive Surgery Devices Market include

Drivers

  • Increase in technological advancement

Acceleration in technology development in the healthcare sector has tremendously increased in the last few years. Advancement in the technology of refractive surgery devices supports painless and uncomplicated treatment during the management of a disease. Moreover, innovation and up gradation in various refractive surgery devices assist in a precise and rapid result of disease diagnosis. Innovation in refractive surgery devices also provides the cost-effectiveness of technology-based therapeutic tools during disease treatment.

For instance,

  • As per Contoura Vision India, it is found that Contoura vision surgery is the latest advanced eye surgery in the removal of specs. It is one of the safest technological advancements in eye surgery, which not only corrects the power of the spectacles but also works for corneal irregularities
  • According to the Eye and Laser Centre Organisation, in May 2017, it was found that Visumax Femtosecond Laser technology is one of the most advanced refractive surgical treatments. It is capable of performing visual defects of the eyes

The increased technological advancements in various refractive surgery devices, such as advancements in lasers variable spot scanning, are expected to drive the refractive surgery devices market. Hence, growing innovation and technological advancement in refractive surgery devices are expected to bolster the market growth during the forecast period.

  • Rise in healthcare expenditure

Over the last decade, healthcare expenditure has risen drastically for better patient healthcare service. The U.S. is the largest healthcare market, where the total health expenditure has increased drastically in the last few years. The fundamental purpose behind growing expenditure is to provide appropriate, affordable, and high-quality refractive surgery devices. To promote a healthier population and address the healthcare emergencies in developed and developing countries, respective government bodies and healthcare organizations are taking the initiative under accelerating healthcare expenditure.

For instance, 

  • According to the Health Affairs Organisation, U.S. health care spending has increased 9.7% to reach USD 4.1 trillion in 2020, which is a much faster rate than that seen in 2019
  • According to the U.K. government, in 2020, the government have provided nearly GBP 250 million, which is about USD 300 million, to digitalize and advance diagnostics care across the NHS (National Health Service) using the latest technology. This funding has been allocated specifically for technological improvements to the NHS diagnostic services to detect and begin treating health conditions as early as possible
  • The National Free Diagnostic Service Initiative has been rolled out as part of the National Health Mission by the Government of India. This was important to provide comprehensive and quality healthcare free of cost under one roof. With this initiative by the Indian government, several states have attempted several models to ensure the availability of diagnostics in public health facilities

Growing healthcare expenditure is also beneficial for further economic growth as well as healthcare sector growth. It significantly affects the development of new diagnostic tests and new surgical tools. Hence, huge health care expenditure is a favourable factor for the market’s growth.

 

Opportunities

  • Achievements in LASIK surgeries

The LASIK success rate or LASIK outcomes are well understood, with thousands of clinical studies looking at visual acuity and patient satisfaction. Recent research reported 99 percent of patients achieve better than 20/40 vision, and more than 90 percent achieve 20/20 or better. Furthermore, LASIK has an unprecedented 96 percent patient satisfaction rate, the highest of any elective procedure.

For instance, 

  • A 2016 study in the Journal of Cataract & Refractive Surgery found that LASIK has a 96% patient satisfaction rate

As per the article, “LASIK: Know the Rewards and the Risks,” 2018

  • Eric Donnenfeld, MD, a former president of the American Society of Cataract and Refractive Surgery, completed around 85,000 procedures over his 28-year career
  • According to Market Scope, around 10 million Americans have had LASIK surgery since the FDA first approved it in 1999. Around 700,000 LASIK surgeries are done each year, but that’s down from a peak of 1.4 million in 2000

Henceforth, the rising number of successful LASIK surgeries worldwide is positively associated with product development, product registration, and product launch. Thus, this is expected to drive the refractive surgery devices market in the coming years.

  • Strategic initiatives by market players

An increase in the burden of refractive errors across the world have created more demand for the refractive surgery devices market. The main aim is to improve health management with the development of innovative products and surgery types for quality care with the convenient application. The key players in the refractive surgery devices market have taken strategic initiatives, which include product launches, acquisitions, and many more, and are expected to lead and create more opportunities in the refractive surgery devices market.

For instances,

  • In June 2021, Glaukos Corporation received regulatory approval from the Therapeutic Goods Administration (TGA) of Australia for PRESERFLO MicroShunt. PRESERFLO MicroShunt aimed to lessen intraocular pressure (IOP) in the eyes of patients with primary open-angle glaucoma where IOP would remain uncontrollable along with being the maximum tolerated medical therapy and/or where glaucoma progression requires surgery
  • In June 2021: Bausch & Lomb Incorporated signed an agreement with Lochan, a company in the Information Technology Services Industry. These companies aimed to develop the next generation of Bausch & Lomb Incorporated’s eyeTELLIGENCE clinical decision support software. By utilizing the prevailing cloud-based infrastructure of eyeTELLIGENCE, this software would be developed to allow surgeons to effortlessly combine all factors of the cataract, retinal, and refractive surgery procedures to boost their total practice efficiency
  • In March 2021, NIDEK unveiled RT-6100 CB for Windows, optional control software for the RT-6100 Intelligent Refractor, and the TS-610 Tabletop Refraction System. This software attunes to the distinct requirements of patients and operators. Moreover, the software enables refractions, which fulfill social distancing requirements

These many strategic products launched and acquisitions by major companies in the refractive surgery devices market have opened up an opportunity for companies worldwide. These strategies are allowing the companies to strengthen their footprints in the market. Therefore, it is predicted that strategic initiative is the golden opportunity for the market players to accelerate their revenue growth in the market.

Challenges/ Restraints

  • Lack of awareness and people trust regarding the benefits of the procedure

In many countries, the general population is not aware of refractive surgery or its various benefits for refractive errors such as myopia astigmatism, presbyopia, and others. People are scared of surgeries that it will lead to some serious side effects which are expected to give a market a great challenge.

For instance,

  • According to the study by the National Institute of Health (NIH) 2021, it stated that people refused to undergo surgery because they were worried about its complications and lacked information regarding the procedure. Moreover, the study showed that 82.5% of participants were unaware that refractive surgery could enhance their visual acuity due to the lack of awareness
  • According to the study by the International Journal of Medicine in Developing Countries in 2019, it was stated that-
  • 32.2% of the total participants thought that refractive surgery was dangerous and 9.5% thought that it causes advanced complications
  • Also, the study from India showed that 64% of participants did not know that refractive surgery was able to improve their vision

The lack of awareness regarding the benefits of refractive surgery and people’s fear of surgery complications is expected to create a great challenge for the market growth.

  • Lack of healthcare facilities for eye treatment

The poverty-stricken population in low- and middle-income countries suffer more from blindness and ophthalmic disorders than the wealthier population. The advancement and strategic plans taken in developed countries are not equally initiated in low-income countries. Many low-income countries usually rely on community health workers, physician assistants, and cataract surgeons for their initial primary eye care. Ophthalmology in low-income countries (LIC) is very challenging due to its complexities such as tropical climates, frail electric grids, poor road and water infrastructure, limited diagnostic capability, and limited treatment options.

For instance,

  • As per the article, “Innovative Diagnostic Tools for Ophthalmology in Low-Income Countries,” the 2020 report states that the prevalence of blindness and ocular disorders in high-income countries is 0.3 per 1,000 people, but in low-income countries, the estimation is 1.5 per 1,000. This shows the unmet need for ophthalmology care in low-income countries

Another major problem in low-income countries is the lack of awareness among people regarding ocular pain and other disorders. Many research studies report the high requirement of low-income countries for eye health care, and their unmet needs are still gaining attention among many health care organizations.

For instance,

  • In 2014, the British Journal of Ophthalmology reported that the vision 2020 plan initiated by the government is still far from achieved due to the lack of initiatives taken targeting middle and low-income countries

Hence, the poor healthcare facility for eye treatments in low and middle-income countries are considered the greatest challenge to the growth of the refractive surgery devices market.

Post COVID-19 Impact on Refractive Surgery Devices Market

The COVID-19 has affected the market. Lockdowns and isolation during pandemics restricted the movement of the masses. As a result surgeries date and times were delayed. Hence, the pandemic has negatively affected this market

Recent Development

  • In July 2021, Johnson & Johnson Vision launched the VERITAS Vision System, next-generation phacoemulsification (phaco) system. This system is developed to look after three important areas: surgeon efficiency, patient safety, and comfort. This has increased the company’s product portfolio

Global Refractive Surgery Devices Market Scope 

Global Refractive surgery devices market is segmented into product type, surgery type, application, end user, and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product Type

  • Laser
  • Phakic Intraocular Lens (IOL)
  • Aberrometers / Wavefront Aberrometry
  • Surgical Instruments & Accessories
  • Refractive Surgery Kits
  • Pupillary Diameter Meters
  • Epikeratomes
  • Microkeratomes 
  • Thermokeratoplasty
  • Limbal Relaxing Incision Kits
  • Others

On the basis of product type, the refractive surgery devices market is segmented into a laser, phakic intraocular lens (IOL), aberrometer/wavefront aberrometry, surgical instruments & accessories, refractive surgery kits, pupillary diameter meters, epikeratomes, microkeratomes, thermokeratoplasty, limbal relaxing incision kits, and others.

Surgery Type

  • Lasik (Laser In-Situ Keratomileusis)
  • Photorefractive Keratectomy (PRK)
  • Phakic Intraocular Lenses (IOL)
  • Astigmatic Keratotomy (AK)
  • Automated Lamellar Keratoplasty (ALK)
  • Intracorneal Ring (INTACS)
  • Laser Thermal Keratoplasty (LTK)
  • Conductive Keratoplasty (CK)
  • Radial Keratotomy (RK)
  • Others

On the basis of surgery type, the refractive surgery devices market is segmented into LASIK (laser in-situ keratomileusis), photorefractive keratectomy (PRK), phakic intraocular lenses (IOL), astigmatic keratotomy (AK), automated lamellar keratoplasty (ALK), intracorneal ring (INTACS), laser thermal keratoplasty (LTK), conductive keratoplasty (CK), radial keratotomy (RK), and others.

Application

  • Nearsightedness (Myopia)
  • Farsightedness (Hyperopia)
  • Astigmatism
  • Presbyopia

On the basis of application, the refractive surgery devices market is segmented into nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia.

End User

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers
  • Others

On the basis of end user, the refractive surgery devices market is segmented into hospitals, specialty clinics, ambulatory surgical centres, and others.

Distribution Channel

  • Direct Tender
  • Third Party Distributors
  • Others

On the basis of distribution channel, the refractive surgery devices market is segmented into direct tender, third party distributors, and others.

Refractive Surgery Devices Market Regional Analysis/Insights  

The refractive surgery devices market is analysed and market size insights and trends are provided by country, product type, surgery type, application, end user, and distribution channel as referenced above.

The countries covered in the refractive surgery devices market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the market due to the growing demand of refractive surgeries among the population.

The country section of the report also provides individual market impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, and impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Refractive Surgery Devices Market Share Analysis

The refractive surgery devices market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies’ focus on refractive surgery devices market.

Some of the major companies dealing in the refractive surgery devices market are Tracey Technologies, Bausch + Lomb Incorporated, BD, STAAR SURGICAL, SCHWIND eye-tech-solutions, Hoya Surgical Optics, Johnson & Johnson Services, Inc., Ophtec BV, Glaukos Corporation, Amplitude Laser, Reichert, Inc., NIDEK CO., LTD., Ziemer Ophthalmic Systems, ROWIAK GmbH, Moria, LENSAR, Inc., Topcon Canada Inc. (A subsidiary of Topcon Corporation), Aaren Scientific Inc., Rayner Intraocular Lenses Limited., iVIS Technologies, Alcon, among others.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs. Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.v

Cosmetic Surgery

Report Overview

The Global Cosmetic Surgery Market size is expected to be worth around USD 145.3 Billion by 2032 from USD USD 66.8 Billion in 2022, growing at a CAGR of 8.3% during the forecast period from 2023 to 2032.

The demand for aesthetic treatments has increased in recent years due to the innovative products that manufacturers have created. There are lucrative growth opportunities for technologically advanced products such as non-surgical body contouring, which uses fat-freezing technology.

The cosmetic market was significantly affected by the COVID-19 pandemic. The cosmetic medicine market was initially negatively affected by social distancing, a sudden sharp drop in the income levels of consumers. A decline in product demand, limited operations, and temporary closures of beauty centers caused a period of negative growth in the market. This was followed by disruptions in the supply chain.

Nowadays, individuals are more conscious about their appearance. Botox is one of the most popular cosmetic procedures. The interest in non-surgical procedures is rising, while surgical procedures are declining in popularity.

 

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The market has seen a significant increase in demand over the last few months. The demand for aesthetic treatments has increased in developing countries due to a growing fitness consciousness and desire to look younger. Consumers in developing countries, such as India, South Korea, etc., are increasingly interested in aesthetic procedures such as liposuction and nose reshaping.

According to the International Society of Aesthetic and Plastic Surgery (ISAPS), India was among the top five countries performing non-surgical procedures globally. This highlights the potential for high growth in India for aesthetic manufacturers.

Key Takeaways

  • Market Growth and Size: The Global Cosmetic Surgery Market is expected to reach approximately USD 145.3 Billion by 2032, growing at a CAGR of 8.3% from USD 66.8 Billion in 2022.
  • Shift to Non-Surgical Procedures: Non-surgical procedures are gaining popularity over surgical ones due to less pain, quicker recovery, and lower healthcare costs. Botox injections and soft tissue fillers are among the most sought-after non-surgical procedures.
  • Gender Dominance: The female market dominates cosmetic surgery procedures, but there’s an increasing demand for cosmetic procedures among men, driven by age-related concerns and non-surgical options.
  • Age Group Trends: Individuals between 30 and 54 years of age dominate the market, with liposuction as a standard procedure.
  • Key Players: The market is competitive, with local and international players. Top players are expanding through partnerships and product launches.
  • Regional Analysis: North America and Europe dominate, while Latin America is expected to show significant growth.

Procedure Analysis

The market can be further divided into non-surgical and surgical procedures based on the type of procedure. The non-surgical segment dominated the market with a revenue share of 56.0%. This segment is expected to grow at the fastest CAGR while maintaining its dominant market position for the entire forecast period. Non-surgical procedures are more popular because they offer less pain and can be performed quickly. Botox injections and soft tissue fillers are some of the most popular non-surgical procedures.

Allergan Cosmetic (a subsidiary of AbbVie Inc.) received FDA approval for JUVEDERM(r). VOLUMA(TM). XC to enlarge the chin area in adults over 21 years old. Jeuveau was approved by the FDA in 2019. It is similar to Botox but costs less than Botox. It is effective in reducing wrinkles. Some of the most popular aesthetic procedures include liposuction and breast augmentation. Surgical procedures are increasingly in demand due to the increasing importance of physical appearance.

Gender Analysis

It can be divided by gender into male or female. Because women are increasingly conscious of their physical appearance and desire to improve their aesthetic value, the female market was the largest for cosmetic surgery procedures. Cosmetic surgical procedures are in high demand due to the increasing importance of a beautiful facial structure or physique. This includes procedures that affect the appearance of the eyes, lips, nose, and cheekbones.

Labiaplasty, vaginoplasty, and other parts of the body are also available for cosmetic surgery. These procedures have made a significant contribution to the market’s growth. As a result, the demand for aesthetic perfection is increasing, which also increases the contribution of men. Obesity has risen due to unhealthy eating habits and a more modern lifestyle. Cosmetic surgery has seen a rise in demand due to the increasing number of procedures that can be performed to remove excess fat.

Age Group

Among the age group segment, individuals between 30 and 54 years of age dominated the market with the largest revenue share. These are expected to continue to dominate in the future. This age group has seen liposuction as a standard cosmetic surgery procedure. This has led to an increase in demand for cosmetic surgery procedures among this age group.

End-User Analysis

Based on end-users, the market can be classified into ambulatory surgical facilities, hospitals, clinics, cosmetic surgical centers & others. Among these end-users, the hospitals and specialty clinics segment held the largest market share in 2022. The majority of cosmetic procedures are performed at hospitals & specialist clinics rather than in other facilities.

This is due to the increased demand for minimally surgical procedures and the shift in patients towards specialty clinics. Plastic surgeons are more likely to associate with hospitals and specialist clinics that provide various services.

However, the spas and cosmetic surgery centers segment is expected to grow positively in the coming years because of the strong growth of medical tourism as well as the emergence and expansion of new spas and clinics. The segment’s growth is also fueled by a gradual rise in cosmetic center procedures during the forecast period.

 

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Key Market Segments

By Procedure

  • Surgical Procedures
    • Breast augmentation
    • Eyelid surgery
    • Liposuction
    • Rhinoplasty
    • Others
  • Non-surgical Procedures
    • Botulinum Toxin
    • Hyaluronic Acid
    • Hair Removal
    • Nonsurgical Fat Reduction
    • Photo Rejuvenation
    • Others

By Gender

  • Female
  • Male

By Age Group

  • 13 to 29
  • 30 to 54
  • 55 and above

 By End-User

  • Ambulatory Surgical Facility
  • Hospital and Clinic
  • Cosmetic Surgical Center
  • Other End Users

Drivers

As cosmetics have become an integral part of everyday life, the demand has changed over recent years. The market has promising prospects due to increased attention to aesthetic features. The demand for cosmetic procedures is rising because of the increasing interest of women in cosmetic procedures such as breast augmentation and liposuction, breast augmentation, eyelid surgery (abdominoplasty), breast augmentation, and other procedures.

The International Society of Aesthetic Plastic Surgery 2022 found that women make up 88.0% of all cosmetic surgeries worldwide. Patients are choosing non-invasive, minimally surgical cosmetic procedures over surgery. On-surgical procedures are preferred due to their many advantages, including reduced recovery times, pain, and healthcare costs. These factors, along with increased research and development investment and new product launches from key players, are driving market growth and contributing to market growth.

Restraints

More cosmetic procedures are being performed due to the increasing popularity of aesthetic procedures in countries such as the U.S., Germany, and Brazil. This has led to increased complications, which in turn has impacted the market growth. Several complications can arise during and after a cosmetic procedure. Non-physicians performing procedures in salons, spas, or other non-medical settings are creating more complications. Scarring, infection, nerve damage, and swelling are common complications from aesthetic procedures.

Side effects are also holding the market back from facial fillers. Redness, skin pigmentation, and bruising are the most common side effects. Individuals have safety concerns, and that limits the number of who can undergo cosmetic procedures. This has resulted in a reduction in demand for cosmetic procedures and a decrease in market growth.

Trends

Due to increasing age-related concerns, cosmetic procedures are becoming more popular and common among men. More men are adopting these procedures to keep their youthful appearance. The market is also growing due to the increased demand for non-surgical procedures like botulinum toxins and dermal fillers. Eyelid surgery, liposuction, and gynecomastia are the most popular non-surgical procedures for men. These factors, along with a steadily improving gender balance, are leading to a greater demand for cosmetic procedures in the male population.

Regional Analysis

In 2022, North America Accounted for 25.3 Billion Dollars in Market Value.

In 2022, North America accounted for 34.9% market share. This region’s dominance is due to its high number of qualified plastic surgeons who perform various cosmetic procedures. Also, the increasing number of aesthetic clinics in Canada and the U.S. is responsible for this region’s growth. This region is also experiencing rapid growth due to the adoption of advanced aesthetic devices on the market. Europe occupied the second spot in the global market. This region is experiencing market growth due to the increasing use of non-surgical procedures and new spas opening in France, Germany, and other countries.

According to data from the German National Tourist Board, there are approximately 350 medical spas in Germany. The highest CAGR is expected in Latin America during the forecast period. This market is driven by the growing demand for medical tourism and the acceptance of new techniques in different aesthetic clinics. It also offers affordable cosmetic procedures to patients.

 

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Key Regions

North America

  • The US
  • Canada
  • Mexico

Eastern Europe

  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe

Western Europe

  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe

APAC

  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC

Latin America

  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America

Middle East & Africa

  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Globally, the market is fragmented, and many local players compete with international players. The market is restricted by strict regulatory approvals that limit the ability to introduce new products. The main factors that affect the market’s competitiveness are technological advancement and the rapid adoption of new devices. The top players have turned to mergers and acquisitions to gain maximum market share.

Market Key Players

With the presence of many local and regional players, the cosmetic surgery market is fragmented. Market players are subject to intense competition from top players, particularly those with strong brand recognition and high distribution networks. Companies have gained various expansion strategies, such as partnerships and product launches, to stay on top of the market. The following are some of the major players in the global cosmetic surgery industry

  • Abbvie Inc.
  • Bausch Health Companies Inc.
  • Candela Syneron
  • cynosure Inc.
  • Galderma SA
  • Merz Pharma GmbH and Co. KGaA
  • Sientra Inc.
  • Sinclair Pharmaceuticals Limited
  • Teoxane Laboratories
  • Johnson and Johnson
  • Other Key Players

Recent Developments

  • In July 2022, Cutera announced that AviClear was approved by the FDA. This is the first and only laser treatment to treat mild, moderate, and severe acne in the United States.
  • In June 2022, Cynosure launched the PicoSure Pro Device. It features a sophisticated lens focus array made from Platinum that would reduce wrinkles, scars, and pores while increasing the amount of collagen and elasticin.
  • In May 2022, Apyx Medical received 510(k) FDA clearance to use the Renuvion dermal handpiece for specific dermal resurfacing procedures.
  • In February 2021, GALDERMA was granted FDA approval for Restylane Defyne to treat mild to moderate chin retrusion.
  • In February 2021, Merz Pharma announced the US launch of BELOTERO + Lidocaine. The BELOTERO BALANCE filler is made from hyaluronic acids (HA). It can be used to fill in etched-in lines and the advantages of lidocaine. This product provides a perfect finish for filler patients.
  • In July 2020, Solta Medical, Bausch Health Companies Inc. released Thermage FLX, a radiofrequency device that tightens skin. The FDA-approved only treatment for eyelids is ThermageFLX.

Report Scope

Report FeaturesDescription
Market Value (2022)US$ 66.8 Bn
Forecast Revenue (2032)US$ 145.3 Bn
CAGR (2023-2032)8.3%
Base Year for Estimation2022
Historic Period2016-2022
Forecast Period2023-2032
Report CoverageRevenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
Segments CoveredBy Procedure: Surgical Procedures (Breast augmentation, Eyelid surgery, Liposuction, Rhinoplasty, Others); Non-surgical Procedures (Botulinum Toxin, Hyaluronic Acid, Hair Removal, Nonsurgical Fat Reduction, Photo Rejuvenation, Others)
By Gender: Female, Male;
By Age Group: 13 to 29, 30 to 54, 55 and above;
By End-User: Ambulatory surgical facility, hospital, and clinic, cosmetic surgical center, other end users
Regional AnalysisNorth America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
Competitive LandscapeAbbvie Inc., Bausch Health Companies Inc., Candela Syneron, cynosure Inc., Galderma SA, Merz Pharma GmbH and Co. KGaA, Sientra Inc., Sinclair Pharmaceuticals Limited, Teoxane Laboratories, Johnson and Johnson, Other Key Players
Customization ScopeCustomization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
Purchase OptionsWe have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

Cosmetic Products

The global cosmetics market size was valued at USD 299.77 billion in 2022 and is projected to grow from USD 313.22 billion in 2023 to USD 417.24 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period.

Cosmetics are beauty & personal care products used for skin cleansing and beautification purposes. Rising consciousness among the global population regarding personal appearance and wellbeing is propelling the cosmetics market growth. These products can enhance an individual’s overall appearance. The manufacturing of such items has been controlled by a handful of multinational corporations. They offer a wide variety of skincare, hair care, and lip care products, which are essential to fulfill specific cosmetic requirements of a client. Moreover, increasing launches of anti-aging products, developing innovative & convenient packaging designs, and compact containers that can be easily carried are also attracting consumers. Manufacturers are focusing on developing a diverse product portfolio that can cater to the specific requirements of every individual.

COVID-19 IMPACT

Product Sales Declined during COVID-19 due to Store Closures

The industry was severely affected by the COVID-19 crisis as there was a significant decline in the demand for cosmetic products. Additionally, the consumers’ purchasing patterns changed dramatically across the beauty & personal care space due to the imposition of strict lockdowns and closure of several beauty stores across the world in the first half of 2020.

As per news published by the Estee Lauder Companies Inc. in April 2020, most retail stores operated by the company or its customers had to be closed down since mid-March 2020 across its operating regions, including the Americas, Europe, and the Middle East & Africa. The company’s travel retail business was negatively affected due to strict restrictions imposed on travel, particularly air travel. However, the firm took efforts to participate in COVID-19 relief activities through funds and product donations. Estée Lauder’s production site, located at Whitman, U.K., started to manufacture hand sanitizers under its brands Jo Malone London and Estée Lauder due to its intensified demand, which were donated to employees and front-line workers.

Moreover, the growing necessity to control the spread of COVID-19 through hand-shaking practices and initiatives by governments to promote hand hygiene & care have also spiked the demand for hygiene products. According to the latest article ‘Namaste. Not Handshakes, to prevent COVID-19’, published by India Times News, in May 2020, the Singaporean government unveiled a ‘no-contact’ policy to minimize the transmission of flu-like viruses & germs from handshaking practices.

Retail store closures led to a rapid shift toward online channels, thereby providing growth opportunities to manufacturers. As per L’Oréal’s annual results for 2020, the company’s e-commerce sales increased by 62% across all divisions and regions, accounting for about 26.6% of its total sales in 2020.

Therefore, players operating in the beauty market are trying to streamline their supply chain and focus on increasing their online sales. The opening of offline stores will further boost product sales in the future.

LATEST TRENDS 

Growth of E-commerce Industry and Improved Marketing Activities by Manufacturers 

Various players in the market are initiating digital marketing strategies, preparing interactive advertisements, and making substantial efforts to promote their products through social media, which is likely to foster product demand. The rising influence of social media and increasing internet penetration are attracting consumers toward e-commerce to buy personal care products. For instance, in August 2019, Grupo Boticário, a Brazil-based beauty products company, announced its plans to acquire Beleza na Web, an e-commerce platform, for selling its products. Therefore, manufacturers are focusing on offering a large number of products through online channels to meet consumer demand. In addition, companies are largely focusing on the utilization of recyclable & sustainable materials for the packaging of cosmetic products to reduce carbon emissions and contribute toward environmental sustainability. Therefore, various waste management practices are being implemented by prominent companies to minimize wastage from production. For example, in May 2019, the Body Shop, a beauty brand, partnered with Terracycle, a U.S.-based waste management company to promote minimal plastic waste generation.

DRIVING FACTORS

Rising Awareness Regarding Health, Hygiene, and Grooming to Fuel Product Demand

The trend of self-care and grooming has skyrocketed across the world in recent years, with women being at the epicenter of the cosmetics industry. Concerns regarding body and well-being are increasing daily due to a busy schedule, changes in routine, eating habits, and fluctuations in the sleep cycle. Beauty products can alter the quality, cleanse, and beautify external body parts and thereby can help individuals to look healthier and more attractive. Therefore, these are some of the factors that resulted in flourishing product demand from younger and aged population. The increasing trend of using sun care products, night skin repair creams, refreshing fragrances, and hair colors, and others, is also expected to boost the product demand. For instance, according to the ‘Sun Safe Behavior Survey 2018’ of the Canadian Dermatology Association, the number of individuals using sunscreen all year round increased from 17% in 2015 to 26% in 2018 in Canada. The ever-expanding glamour industry is further boosting the demand for makeup products among the young generation to help them enhance their appearance. Social media has a strong influence on this generation, with attractive product promotions showcasing newer trends.

A wide range of product offerings from manufacturers, such as lotions, creams, and gels that are suitable for an individual’s skin & hair is expected to augment the market growth. Manufacturers are focusing on introducing personalization and digitalization in cosmetic products to attract a customer base. For instance, in February 2020, L’Occitane Group launched its new personalized skincare system, ‘Duolab,’ having a countertop device operated using artificial intelligence. This device can diagnose an individual’s skin condition as and when required and then provides a customized face care solution in the form of freshly blended cream. Brands, such as SA.AL & Co., Bulldog Skincare, David Beckham’s House 99 range, and Chanel’s BOY makeup line are focusing on offering products that cater to men’s skincare needs.

Adoption of Sustainable Cosmetics to Drive Market Growth

Rising consumer preference toward organic and therapeutic formulations has accelerated research & development activities among manufacturers to seek novel ingredients that can attract consumers. For instance, as per the ‘U.S. Organic Industry Survey 2020’ by the Organic Trade Association, the total sales of organic non-food products in the U.S. were about USD 5 billion in 2019, which increased by nearly 9.2% from 2018.

Products formulated with naturally derived ingredients are gaining more popularity across the globe owing to their safe and non-toxic nature. Demand for eco-friendly products is expected to grow in the future, owing to increasing awareness regarding sustainability among the population. This awareness is rising as clients are being exposed to more information on the adverse effects of synthetic chemicals on their health and the environment. Lowering the use of synthetic chemicals that majorly include preservatives and pigments has pushed the concept of refrigerated BPC products, wherein the shelf life of products can be extended with the help of colder temperature without the addition of toxic preservatives. Several brands including FaceTory, Beautigloo, and The Quick Flick Beauty Fridge launched their mini cosmetic fridge products in 2019.

According to the ‘Organic Beauty and Wellbeing Market’ report published in the Soil Association Certification report, the organic personal care market in the U.K. witnessed a growth rate of 7% in 2018. Additionally, consumer preference is shifting toward vegan products that do not contain any ingredient derived from animals. Furthermore, manufacturers are also focusing on providing sustainable packaging solutions, such as paper-based, degradable, and refillable packaging options to attract more users and reduce their carbon footprint.

RESTRAINING FACTORS

Rising Awareness of the Side-effects and Access to Surgical Options to Hamper Market Growth

Cosmetic formulations are a mixture of numerous natural and synthetic ingredients, such as sulfates and phthalates. Rising awareness regarding the adverse health effects and toxicity of a few ingredients is likely to limit the product demand. Synthetic chemicals, such as preservatives, pigment molecules, and other additives have serious side-effects on the body, such as allergic reactions, formation of black patches, acne or discoloration, and others. Prolonged exposure to such products results in the continuous deposition of toxic ingredients in the body’s cells that can eventually cause adverse reactions. Excessive use of certain makeup and hair coloring products can result in rashes or patches on skin and permanent hair greying. These factors are also shifting the consumer preference toward cosmetic surgeries, which can alter their appearance permanently and help them reduce the daily use of beauty products. These factors will restrain the market growth. In addition, the higher cost of certain products, such as makeup and anti-aging skin care items is also expected to hinder the market growth. This factor has also resulted in the development of low-cost counterfeit products that contain low-quality ingredients and are not safe to use.

SEGMENTATION

By Category Analysis

Rising Awareness About Skincare Routines to Boost Demand for Skincare Products

Based on category, the market is segmented into hair care, skincare, makeup, and others. The skincare segment is expected to hold a significant cosmetics market share during the forecast period as a vast majority of the population uses skincare products daily as compared to hair care products. For instance, according to the ‘Consumer Survey on Cosmetic Dermatologic Procedures 2018’ conducted by the American Society for Dermatologic Surgery (ASDS), about 80% of consumers spent more than USD 100 per month on skincare products in the U.S.

People who have skin problems are using skincare products on a large scale. Several skincare products are being developed to quicken the healing process of the skin while also eliminating scars and rashes. According to the data issued by the National Health Interview Survey, in 2018, 9.2 million children in the U.S. who were 18 years and under were reported to have skin allergy.

Haircare includes several products, such as shampoos, hair colors, oils, serums, and others. The growing number of people experiencing hair issues, such as dry hair, dull hair, spit ends, hair loss, and others is escalating the consumption of hair care products. These products can control hair thinning and breakage and also repair damaged, dry, and chemically treated hair. According to the article ‘Hair Loss in Women’ published by Cleveland Clinic in May 2018, more than 50% of women in the U.S. experienced noticeable hair loss.

Makeup products include face powders, blush, mascara, and lipstick, which further enhance a person’s appearance. Innovative color shades and affordable makeup products are expected to drive the segment growth.

The others segment includes fragrances and hygiene & oral care products. And the need for products including fragrances, teeth whitening creams, and breath fresheners is increasing globally owing to growing hygiene awareness, thereby boosting the segment growth.

By Gender Analysis 

Cosmetic Products to be Widely Used by Working Women to Enhance Their Appearance

Based on gender, the market is divided into men and women. The women segment is anticipated to hold the larger market share as a more manufacturers are producing products that are specifically targeted toward women. A large percentage of women are more inclined to beauty products as compared to men. Young girls and working women are increasingly exploring beauty care solutions. Therefore, an increasing number of working women globally is expected to boost the product demand and support the market growth. For instance, according to the data released by the Australian Government in February 2020, among all the employed individuals in Australia, women held a share of about 47% in 2019.

Additionally, the promotion of beauty contests, such as Miss World, Miss Universe, and Victoria’s Secret is generating more traction for cosmetic products among women as it prompts them to emulate their looks. For instance, according to the Indian Express, Miss World 2019 was estimated to have a viewership of 900 million from 140 countries.

The men segment is displaying a strong presence in the market owing to the increasing consciousness among men regarding their looks and wellbeing. This factor has escalated the sales of men grooming products. A large number of men are working in professions, such as sales, hospitality, aviation, and others, which requires dealing with clients or customers on a daily basis. This has surged the usage of cosmetic products among men as they need to look presentable. For instance, according to a survey conducted by The Bluebeards Revenge in the U.K. in 2018, 52% of the men surveyed said that they wished to pay more for grooming products in the coming year.

By Distribution Channel Analysis 

Wide Availability of Products under One Roof to Boost Consumer Preference for Hypermarkets/Supermarkets

In terms of distribution channel, the market is segmented into hypermarkets/supermarkets, specialty stores, online channels, and others. The hypermarkets/supermarkets segment is expected to hold the largest market share during the forecast timeframe. These stores are known to showcase a vast variety of several brands and their products that are provided under the mass market. Products used for daily purposes are purchased at these stores as they offer the option to buy products in bulk at lower prices. Value packs of body lotions, shampoos, conditioners, and a bundle of roll-ons/antiperspirants are easily available at these market that attract consumers.

Specialty stores offer a wide range of products under specific brands. These stores are explored particularly for makeup products, anti-aging cosmetics, and fragrance products from luxury brands. Therefore, these stores are gaining momentum among customers as they cater to their specific product requirements. The online stores segment is projected to grow significantly due to the ease and convenience offered by online purchasing. Additionally, these stores provide different benefits, such as free home delivery, discounts on bulk orders, and gift coupons, while also saving their time going to offline stores.

REGIONAL INSIGHTS

Asia Pacific dominated the global market share and was valued at USD 112.57 billion in 2022, owing to a large pool of aging population in countries, such as China and Japan, that have surged the demand for anti-aging, anti-wrinkle, and dark spot treatment products. According to data released by the Ministry of Economy, Trade, and Industry of Japan in 2019, the production of cosmetic products increased from 434,000 tons in 2017 to 455,000 tons in 2018.

According to a survey report ‘World Population Aging: 2019’, published by the Department of Economic & Social Affairs of the United Nations, in 2019, nearly 164.49 million people in China were in the age group of 65 years and above.

The rising middle-class population in the region is also responsible for the burgeoning demand for beauty products. For instance, according to the article ‘The Middle Class in India – From 1947 To The Present and Beyond’ published by the Association for Asian Studies in 2018, the middle-class population in India was about 5-10% of the country’s total population in 2005, which is expected to increase to about 90% by 2039.

Moreover, growing consumer preference toward buying high-quality and premium cosmetic items and rising income of the population are further propelling the demand for branded cosmetic items in the region. According to statistics presented by the U.S. National Library of Medicine National Institute of Health, in December 2019, nearly 25.8% of males and 74.2% of females preferred to buy Korean luxury cosmetics in China.

The market in North America has witnessed strong growth owing to higher spending power of the population and increased demand for luxury and premium products. Growing incidence of skin-related problems, such as cancers, rashes, and wrinkles among the population in countries, such as the U.S. and Mexico is primarily driving the demand for dermatologically proven skincare products. According to the data published by the American Academy of Dermatology Association, every year, nearly 50 million Americans are affected by acne.

The Europe market holds a considerable share of the global market owing to a large number of on-street salons that support the consumption of skincare & haircare cosmetics. Increased number of beauty salons and rising number of millennials and generation Z in the region are expected to propel the demand for various cosmetic products. For instance, according to Annual Report 2018-2019 of the German Cosmetic, Toiletry, Perfumery and Detergent Association, between the years 2013 to 2018, the skin & face care products market witnessed an average growth of 2.7% per year, and it was about 4.1% per year for decorative market in Germany.

Additionally, increasing import of essential oils in countries, such as France, Italy, and others, indicates increased demand for essential oil-based perfumes in the region. According to the analysis report ‘Organic imports in the EU’ published by the European Commission, in 2018, Europe imported 178 tons of essential oils from Tunisia.

 

The market in South America and the Middle East & Africa is expected to hold a comparatively lower share than other regions. The growing online presence of key players and rising online shopping in the Middle Eastern countries, such as Saudi Arabia, Qatar, and Egypt, are propelling cosmetic companies’ revenues from online stores in the region. Additionally, rising disposable income, increasing access to international products, and growing availability of affordable products are expected to drive the market growth in these regions.

KEY INDUSTRY PLAYERS

Market is Highly Fragmented with Varied Product Portfolios of Companies

The cosmetics industry is highly fragmented, owing to the presence of several domestic and international players across the globe. Additionally, these companies are focusing on developing organic and natural products, which will propel the market growth. Several domestic and small- scale players in the market are adopting various strategies to expand their business operations. Strategic partnerships of key players with companies offering innovative techniques and packaging solutions are expected to further consolidate their market positions.

For instance, in February 2021, Kao Corporation introduced a serum named SOFINA iP INTERLINK SERUM Pore Refining Moisture. This product is said to condition the skin and conceal pores to provide a clear, moist texture.

LIST OF KEY COMPANIES PROFILED:

KEY INDUSTRY DEVELOPMENTS:

  • February 2023: Shiseido Company Limited announced the launch of two new moisturizers from SIDEKICK, its skincare brand that focuses on common skin concerns that young men face.
  • December 2022: Beiersdorf AG acquired a majority stake in S-Biomedic NV, Belgium-based life-science company. With this acquisition strategy, the company will be able to strengthen its expertise in the field of acne treatment.
  • September 2022: Shiseido Europe S.A., a subsidiary of Shiseido Company, Limited, entered an agreement to acquire all the outstanding shares of Gallinée Ltd, a London-based beauty brand. 
  • February 2021: Revlon partnered with MDR Brand Management for new product launches, wider retail reach, deeper consumer engagement across the EMEA, APAC, and the Americas.
  • February 2020: Beiersdorf AG acquired ‘STOP THE WATER WHILE USING ME’, from the T.D.G. Vertriebs GmbH & Co., which helped the company accelerate the shared efforts on climate & resource protection and bolstered the impact of sustainable skincare.

Vitiligo

The global vitiligo treatment market size was valued at USD 1,243.8 Million in 2018 and is projected to reach USD 1,944.5 Million by 2026, exhibiting a CAGR of 5.8% in the forecast period

There is an ever-increasing demand for new and innovative treatment for the management of vitiligo, a disease that causes an extensive loss of pigmentation in the human skin. Among the treatment segment, the largest share of the market was attributed to topical treatment in 2018.

The ever grossing need for new treatment options for vitiligo, with an aim to gain the first regulatory approval for the vitiligo treatment, has been instrumental in the increasing R&D initiatives for itiligo treatment. Market players are constantly focusing on the development of new vitiligo treatment options, to improve the efficiency and outcomes of the treatment in the patient population. This is anticipated to contribute to the swelling of the vitiligo treatment market size. In June 2019, Incyte reported positive results from a Phase 2 study of ruxolitinib cream in patients suffering from vitiligo.

“Strong R&D pipeline and positive results of clinical studies to drive the market growth”

A large patient pool is globally suffering from vitiligo and the increasing awareness regarding the disease and the subsequent need for advanced and effective treatment options are driving the vitiligo treatment market growth. As of now, there is no approved treatment option for vitiligo, and this has led to increasing demand for vitiligo treatment options in both developed and developing markets. According to the American Academy of Dermatology (AAD), an estimated 84.5 million or one in four Americans, suffer from vitiligo.

Also, in the existing vitiligo treatment options there is a distinct lack of effective treatment options which can often lead to the relapse of vitiligo in the patches of skin previously treated. These factors, combined with the strong R&D pipeline of new vitiligo treatment options of key market players, are some of the major factors driving the market in 2018. However, lack of awareness among the patient population regarding vitiligo treatment in emerging countries, combined with long procedure for regulatory approvals, are factors limiting the growth of global market.

MARKET SEGMENTATION

Based on the treatment, the market segments include topical treatment, light therapy, surgical procedures, and others. The topical treatment segment dominated the market in 2018. The segment accounted for 54.7% share of the market in 2018. Based on disease type, the market segments include nonsegmental vitiligo, and segmental vitiligo. Based on end user, the global market segments include hospitals, aesthetic clinics (SLT), and others.

REGIONAL ANALYSIS

“High prevalence of vitiligo in the U.S. and the presence of key market players are fueling the demand for vitiligo treatment in North America”

There is a large patient pool in emerging countries including China, India, and other South-east Asian countries in the Asia Pacific suffering from vitiligo and this has resulted in the need for effective treatment options for vitiligo. The countries in the Latin America and Middle East & Africa has potential for future growth due to vitiligo being more noticeable in darker skinned individuals. However, there is a high number of R&D initiatives and higher adoption of vitiligo treatment among healthcare providers in the U.S., and the number of patients suffering from vitiligo are increasing.

The increasing demand of advanced vitiligo treatment options is also anticipated to drive the vitiligo treatment market revenue in Europe. The market for Vitiligo Treatment in North America was valued at USD 314.1 Million in 2018. The market in Asia Pacific is projected to demonstrate a comparatively higher CAGR during forecast period, owing to high patient pool. The market in Middle East & Africa, and Latin America accounted for a comparatively small share of the market in 2018.

KEY MARKET PLAYERS

“Incyte, Astellas Pharma, Ltd., and Bausch Health Companies Inc., dominated the global vitiligo treatment market in 2018”

In the market, a number of key market players are competing for gaining the dominant market share. A well-established R&D pipeline in the vitiligo treatment, combined with recent positive clinical results is instrumental in the dominance of these players in the vitiligo treatment market share. However, other market players are expanding their R&D portfolio of vitiligo treatment, along with focusing on the subsequent product approvals, and are expected to gain market share during the forecast period.

LIST OF COMPANIES PROFILED

  • Incyte Corporation
  • Astellas Pharma Inc.
  • Bausch Health Companies Inc.
  • Baxter International Inc.
  • Pfizer Inc.
  • STRATA Skin Sciences
  • Reddy’s Laboratories Ltd.
  • Other players

REPORT COVERAGE

According to the American Academy of Dermatology (AAD), vitiligo affects an estimated one in four individuals in the U.S. Also, an estimated 1%-2% of the global population is estimated to be suffering from vitiligo. This large patient pool suffering from vitiligo, combined with increasing demand for advanced treatment options, is leading to rising demand for vitiligo treatment globally. The anticipated introduction of new products in the market, along with an increasing number of patients undergoing vitiligo treatment globally is projected to further augment the demand for vitiligo treatment during the forecast period.

The vitiligo treatment market report provides qualitative and quantitative insights on the industry trends and detailed analysis of market size and growth rate for all possible segments in the market. The market segments include treatment, disease type, end user, and geography. On the basis of the treatment, the vitiligo treatment market segments include topical treatment, light therapy, surgical procedures, and others. Based on disease type, the global market is segmented into nonsegmental vitiligo, and segmental vitiligo. Based on end user, the market is segmented into hospitals, aesthetic clinics, and others. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.

Along with this, the report analysis includes market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of vitiligo by key countries, overview of pipeline analysis, recent industry developments such as mergers & acquisitions, recent developments in R&D, and others.

 SEGMENTATION

 SEGMENTATION

 DETAILS

By Treatment

  • Topical Treatment
  • Light Therapy
  • Surgical Procedures
  • Others

By Disease Type

  • Nonsegmental Vitiligo
  • Segmental Vitiligo

By End User 

  • Hospitals
  • Aesthetic Clinics
  • Others

By Geography

  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

KEY INDUSTRY DEVELOPMENTS

  • In June 2019, Incyte reported positive results from a Phase 2 study of ruxolitinib cream in patients suffering from vitiligo
  • In June 2014, Dr. Reddy’s announced the launch of Melgain lotion, the first peptide-based drug for the treatment of vitiligo in India

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