The lacrimal devices market is anticipated to grow at a significant pace owing to proliferating demand for safe lacrimal treatment procedures. Ophthalmologists mostly prefer balloon catheter dilation for treating patient in the pediatric age group. Product benefits like ease of procedure will lead to increase in number of patient admissions and surge in adoption of lacrimal devices.
With increasing adoption lacrimal treatment procedures, industry players are focusing on further diversifying their associated product portfolios. These efforts are expected to translate into lucrative revenues for the overall industry over the forthcoming years. Taking October 2019 for instance, pharmaceutical firm, AlphaMed gained approval from the U.S. FDA (Food and Drug Administration) for marketing its new punctum plug in the U.S. The plugs are specifically developed to be inserted in the canaliculus in an effort to restrict lubricating tears from coming down through the eye surface.
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With respect to product, the lacrimal devices market is bifurcated into tubes, intubation sets, punctal plugs, dilators, cannula and spatula, stents, and others. Among these, the punctal plugs segment is projected to observe significant demand in the forthcoming future due to the growing number of eye surgeries across the globe. In fact, in 2019, the segment accounted for a substantial valuation of $25.9 million. Punctal plugs are witnessing immense demand as they can be easily inserted into the eye. These plugs also resist migration, decrease dry eye symptoms, and help the patient in retaining tears. In addition, rapid growth in the number of infants suffering from nasolacrimal duct obstruction is projected to push the segment size over the coming years.
Meanwhile, presence of an immense patient pool, that is prone to different kinds of eye disorders, across highly populated nations like China and India would majorly favor Asia Pacific lacrimal devices market expansion. In fact, the regional market is projected to expand at a significant rate of 5.3% through the forthcoming timespan. Taking 2017 for instance, people suffering from DED (dry eye disease) ranged from 18.4% to 54.3% in India. An upsurge in the number of dry eye diseases along with growing investments in healthcare infrastructure in the region will positively impel the regional market size. Furthermore, a strong presence of regional manufacturers across Southeast Asia should further impel the Asia Pacific lacrimal devices industry size.
Likewise, an upsurge in the number of eye surgeries performed each year is projected to push the lacrimal devices market share in the near future. In fact, according to the Stein Eye Institute, about 700,000 refractive eye surgeries are performed every year. Additionally, the U.S. alone reports over 2.5 million eye injuries. Given the high prevalence of eye-related medical procedures, the adoption of lacrimal devices is set to increase significantly over the coming years.
The competitive landscape of the lacrimal devices market is inclusive of players such as JEDMED, Bess Medical Technology gmbh, Rumex International, Lacrimedics, BVI, Cook Group, Kaneka Corporation, and FCI Ophthalmic among others.
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Partial Chapter of the Table of Content
Chapter 4. Lacrimal Devices Market, By Product
4.1. Key segment trends
4.2. Intubation sets
4.2.1. Market size, by region, 2015 - 2026 (USD Million)
4.3.1. Market size, by region, 2015 - 2026 (USD Million)
4.4.1. Lacrimal Devices Market size, by region, 2015 - 2026 (USD Million)
4.5. Cannula & Spatula
4.5.1. Market size, by region, 2015 - 2026 (USD Million)
4.6.1. Market size, by region, 2015 - 2026 (USD Million)
4.7. Punctal plugs
4.7.1. Market size, by region, 2015 - 2026 (USD Million)
4.8.1. Market size, by region, 2015 - 2026 (USD Million)
Chapter 5. Lacrimal Devices Market, By Application
5.1. Key segment trends
5.2. Dry eye
5.2.1. Market size, by region, 2015 - 2026 (USD Million)
5.3.1. Market size, by region, 2015 - 2026 (USD Million)
5.4.1. Market size, by region, 2015 - 2026 (USD Million)
5.5. Drainage obstruction
5.5.1. Market size, by region, 2015 - 2026 (USD Million)
5.6. Lacrimal gland inflammation
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