Lacrimal Devices Market is projected to reach US$ 39.7 Million by the end of 2029 | FMI

The lacrimal devices market is expected to reach US$ 39.7 million by the end of 2029, with sales revenue expected to register 5.5% CAGR. The Global Lacrimal Devices market growth is predicted to expand at a 5.5% compound annual growth rate (CAGR), with a market value of roughly US$ 25.6 million in 2021.

Lacrimal devices like Nasolacrimal stents are small tubes which establishes a new channel for tears to drain. When the usual tear ducts fail and alternative drainage mechanisms are unavailable, they provide a bypass path for tear drainage. Graue employed the first described stent, which was constructed of silver wire and used in 1932.

Since then, numerous materials such as silk, nylon, polyethylene, and polypropylene have been employed. The tubes are usually made of silicone or another semi-rigid yet flexible material with an open centre lumen.

Market Outlook:

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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 worldwide lacrimal devices market.

During the projected period, the introduction of innovative and high-success-rate treatments will move the market forward. 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

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Key Market Segments Covered In 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

About FMI:

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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