The Global Lacrimal Devices Industry is experiencing remarkable growth, with expectations of reaching a substantial US$ 39.7 million by the end of 2029. This impressive rise in market value is underpinned by a steady 5.5% Compound Annual Growth Rate (CAGR).
In 2021, the Global Lacrimal Devices Industry was valued at approximately US$ 25.6 million. The market’s consistent growth trajectory and its remarkable 5.5% CAGR are indicative of its promising future.
Lacrimal devices, particularly Nasolacrimal stents, play a pivotal role in offering a solution for individuals facing issues with tear drainage. These small tubes provide an alternative channel for tears to drain when the natural tear ducts become compromised, and other drainage mechanisms are unavailable.
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The increased demand for ophthalmic treatments with greater success rates and minimum intrusions, as well as an increase in patients with nasolacrimal duct obstruction, are driving the Global Lacrimal Devices Industry.
During the projected period, the introduction of innovative and high-success-rate treatments will move the market forward. The adoption of precise and updated lacrimal devices, such as the new lacrimal cannula, which combines flexibility and strength to prevent trauma by providing easy access to the canaliculus, is a fundamental driver of market expansion.
Manufacturers Emphasizing Advanced Product Development
Numerous organizations are focusing on new product development for lacrimal duct stent tube. In June 2019, FCI Ophthalmic offered a complete line of BIKA stents namely, BIKA, BIKA for DCR, and Infant BIKA covering a range of sizes that will benefit most of the congenital nasolacrimal duct obstruction (CNLDO) and dacryocystorhinostomy (DCR) cases.
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Key Takeaways – Lacrimal Duct Stent Tube Market Study
- Bicanalicular lacrimal duct stent tube is expected to contribute three fourth of revenue share in the lacrimal duct stent tube market owing to its high success rate in stent placement.
- Hospitals captured maximum share of the lacrimal duct stent tube market owing to highest patient footfall followed by ophthalmic clinics.
- Attributed to growing patient pool for retinal diseases, especially due to premature births, contributed to the dominance of North America in the lacrimal duct stent tube market.
- Increasing awareness for availability of the treatment for nasolacrimal duct stent obstruction among caregivers of prematurely born babies and increasing number of skilled professionals are expected to drive growth of the lacrimal duct stent tube market in East Asia.
Competitive Landscape
- FCI Ophthalmics
- Kaneka Corporation (Kaneka Pharma America LLC)
- Gunther Weiss Scientific Glass
- Bess Medizintechnik GmBH
Key Market Segments Covered In Global Lacrimal Devices Industry Research
By Product:
- Monocanalicular Lacrimal Duct Stent Tube
- Bicanalicular Lacrimal Duct Stent Tube
By End User:
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgical Centers
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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