Lacrimal Devices Market Size By Product (Intubation Sets, Tubes, Stents, Cannula & Spatula, Dilator, Punctal Plugs), By Application (Dry Eye, Glaucoma, Epiphora, Drainage Obstruction, Lacrimal Gland Inflammation), By End-use (Hospitals, Ophthalmic Clinics, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI4811  |  Authors: Sumant Ugalmugale, Rupali Swain

Report Format: PDF   |   Pages: 148   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Lacrimal Devices Market size surpassed USD 150 million in 2019 and is estimated to grow at over 4.2% CAGR between 2020 and 2026. Growing prevalence of eye diseases will drive market growth.
 

The dacryocystitis infection and dry eye disease has been prevalent in past few years in the developed and developing economies. According to the National Center for Biotechnology Information, congenital dacryocystitis occurs roughly in 1 in 3,884 live births. Thus, this has led to increase in demand of lacrimal devices.
 

Lacrimal Devices Market

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Dry eye disease (DED) is considered as a critical and significant public health issue in the U.S. There has been a noticeable rise in the number of patients suffering from dry eye diseases across the world. For instance, according to the American Journal of Ophthalmology, in 2017, nearly 11.1 million women were diagnosed by dry eye disease (DED) compared to about 5.3 million men. This have led to a surge in demand for various treatment procedures, including surgical procedures. Such rising cases of dry eye diseases in both geriatric population as well as middle aged people will further augment the lacrimal devices market expansion.
 

The COVID-19 pandemic has disrupted the spectrum of ophthalmic practice, as the screening programs and services have decreased or suspended to a certain extent in many countries. For instance, Canadian Ophthalmologists Society have recommended to defer all non-emergency procedures including lacrimal surgeries and endoscopic dacryocystorhinostomy. Thus, the unprecedented effect of COVID-19 is expected to slightly have a negative impact on the market demand. However, market players are focusing on novel product development for eye surgeries, thereby supplementing the industry growth.
 

Lacrimal Devices Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 152.2 Million (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.2% 2026 Value Projection: 203.0 Million (USD)
Pages: 148 Tables, Charts & Figures: 217
Geographies covered (19): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE
Segments covered: Product, Application, End-use and Region
Companies covered (11): FCI Ophthalmic, Medennium, BVI, Lacrimedics Inc, Rumex International Co., Cook Group, Bess Medical Technology gmbh, Kaneka Corporation, Brainstree Scientific, JEDMED, Walsh Medical Devices Inc
Growth Drivers:
  • Growing prevalence of eye disease
  • Ease of lacrimal treatment procedures
  • Technological advancements in lacrimal devices
Pitfalls & Challenges:
  • High risk of side effects

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High risk of side effects may hamper the market growth

High risk of side effects during or after the treatment may hamper the growth of global lacrimal devices market. The side effects associated with lacrimal gland tumor surgery may cause damage to retinal blood vessels or optic nerve. Such postsurgical complications will restrict the market size expansion. Furthermore, regulatory bodies such as European commission and U.S. FDA have issued guidelines and regulations to enhance public health and safety with respective to eye disease or disorders, thus declining the entry of new players.
 

Advantages associated with stents will impel the lacrimal devices market demand

Lacrimal Devices Market

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The stents segment accounted for market share of 26.6% in 2019. Stents are used to keep the lacrimal pathway patent after the surgery. Moreover, advantages offered by these stents including mechanical support to the canalicular wall and self-retaining nature with minimal intranasal manipulation will further propel the segment growth.
 

Increasing prevalence of dry eye disease will foster the segment value

Dry eye segment in the lacrimal devices market crossed revenue of USD 62.4 million in 2019. Dysfunction of lacrimal gland will result in inflammation, infection and aging leading to dry eye syndrome. Rising number of dry eye disease (DED) cases will fuel the segment growth. Furthermore, easy availability of lacrimal devices for disease treatment is another key factor influencing the market growth trends.
 

Patient preference for high quality care in hospital settings

Hospital segment held around 46.7% lacrimal devices market share in 2019 due to presence of large number of doctors along with advanced technologies in hospitals. Additionally, patients prefer hospitals as they offer high quality care. Increase in hospital admissions for surgeries and treatments will further stimulate the segment size.
 

Presence of key market players along with technological advancements in lacrimal devices will fuel the North American market growth

Lacrimal Devices Market

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North America dominated the global lacrimal devices market with revenue share of 34.6% in 2019 and is poised to reach USD 68 million by 2026. Rising incidence of eye diseases along with availability of technological advanced products will drive the North America industry growth. Growing awareness among individuals regarding secure treatment of lacrimal gland tumors will further enhance the market size. In addition, presence of major industry players has significantly triggered the North American market expansion.
 

Adoption of various business strategies will provide new growth avenues for companies operating in the market

Prominent players operating in the lacrimal devices market include FCI Ophthalmic, Kaneka Corporation, Cook Group, BVI, Lacrimedics, Rumex International and Bess Medical Technology gmbh among others. Geographical expansion, product launch & approval and partnerships are the most adopted business strategies to sustain market competition.
 

Some of the recent industry developments:

  • In June 2020, Kaneka Corporation entered strategic partnership with Rohto Pharmaceutical, an FMCG and OTC pharma corporation company. The partnership was aimed to develop lacrimal duct tubes business, thereby strengthening their business growth.
     
  • In October 2019, AlphaMed received approval from U.S. FDA for its Tear Pool Dissolvable Punctum Plugs. The plugs are designed to insert into the canaliculus that temporarily restricts the natural lubricating tears from draining off the surface of the eye. This strategy enabled company to add value to their existing ophthalmic product portfolio.
     

The lacrimal devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

Market, By Product

  • Intubation sets
  • Tubes
  • Stents
  • Cannula & spatula
  • Dilator
  • Punctal plugs
  • Others

Market, By Application

  • Dry eye
  • Glaucoma
  • Epiphora
  • Drainage obstruction
  • Lacrimal gland inflammation
  • Others

Market, By End-use

  • Hospitals
  • Ophthalmic clinics
  • Diagnostic centers
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Frequently Asked Questions (FAQ) :

Global market size of lacrimal devices, in 2019, was worth USD 150 million, and may depict 4.2% CAGR through 2026, driven by rising prevalence of eye diseases.
The stents segment held 26.6% of market share in 2019 and will depict appreciable growth as stents provide mechanical support to the canalicular wall and possess a self-retaining nature.
The dry eye segment, in 2019, exceeded USD 62.4 million. The growth of the segment will be driven by the increasing cases of dry eye disease (DED).
In 2019, hospital segment accounted for 46.7% of market share, owing to the presence of numerous doctors as well as the availability of advanced technologies in hospitals.
North America led the global market, with a share of 34.6% in 2019, and may cross USD 68 million by 2026. This can be credited to the rising number of eye diseases.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 148
  • Tables: 201
  • Charts / Figures: 16
  • Companies covered: 11
  • Countries covered: 19

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