The Global Lacrimal Devices Industry is poised for remarkable growth, as forecasted by industry experts, with a projected value of US$ 39.7 million expected to be achieved by the close of 2029. This upward trajectory is underpinned by a robust Compound Annual Growth Rate (CAGR) of 5.5%, following a market value of approximately US$ 25.6 million in 2021.
At the forefront of this surge is the revolutionary domain of lacrimal devices, notably Nasolacrimal stents, which have emerged as a breakthrough in ophthalmic care. These devices provide a groundbreaking solution for tear drainage in cases where conventional tear ducts are nonfunctional, and alternative drainage options are limited.
The genesis of lacrimal stents dates back to 1932 when Dr. Graue introduced the concept, of utilizing silver wire as the primary material. Since then, continuous innovation and advancements have propelled lacrimal devices into a pivotal role in enhancing patient care within the ophthalmic landscape.
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Over the years, the lacrimal devices landscape has witnessed significant advancements, with various materials like silk, nylon, polyethylene, and polypropylene being employed to enhance performance and patient comfort. These small tubes are typically constructed from silicone or other semi-rigid yet flexible materials, featuring an open center lumen for optimal tear drainage.
The Global Lacrimal Devices Industry’s impressive growth can be attributed to ongoing innovations and increasing demand for effective tear drainage solutions. With a 5.5% CAGR driving the market’s expansion, it is clear that lacrimal devices are becoming an integral part of the ophthalmic industry, offering hope and improved quality of life to countless individuals worldwide.
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.
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Manufacturers Emphasizing Advanced Product Development
Numerous organizations are focusing on new product development for lacrimal duct stent tubes. 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.
Key Takeaways – Lacrimal Duct Stent Tube Market Study
- Bicanalicular lacrimal duct stent tube is expected to contribute a fourth of the revenue share in the lacrimal duct stent tube market owing to its high success rate in stent placement.
- Hospitals captured the maximum share of the lacrimal duct stent tube market owing to the highest patient footfall followed by ophthalmic clinics.
- Attributed to the 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 the availability of the treatment for nasolacrimal duct stent obstruction among caregivers of prematurely born babies and an increasing number of skilled professionals are expected to drive the growth of the lacrimal duct stent tube market in East Asia.
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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
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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