According to a recent analysis by Future Market Insights (FMI), a leading market research firm, the Lacrimal Devices Market is projected to reach a value of USD 39.7 million by the end of 2029. This signifies a significant rise from its approximate valuation of USD 25.6 million in 2021, reflecting a healthy Compound Annual Growth Rate (CAGR) of 5.5%.
Lacrimal devices, notably Nasolacrimal stents, have emerged as a groundbreaking advancement in ophthalmic care. These devices provide a novel solution for tear drainage in cases where traditional tear ducts are nonfunctional, and alternative drainage options are limited. The inception of lacrimal stents dates back to 1932 when Dr. Graue introduced the concept, of utilizing silver wire as the primary material.
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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 Devices 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.
Lacrimal Devices Market Competitive Landscape
- FCI Ophthalmics
- Kaneka Corporation (Kaneka Pharma America LLC)
- Gunther Weiss Scientific Glass
- Bess Medizintechnik GmBH
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Key Segments Covered In Lacrimal Devices Market 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 clients face 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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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