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Lacrimal Devices Market Trends

Report ID: GMI4811
Published Date: Mar 2022
Report Format: PDF

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Lacrimal Devices Market Trends

Lacrimal devices market is expected to witness significant growth owing to the development of novel products for eye surgeries. Increasing focus of market players on highly precise, upgraded, and cost-effective lacrimal devices will augment the industry statistics. For instance, 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. Such devices will increase the product acceptance, thereby fuelling the market trends.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for lacrimal devices surpassed USD 144.7 million in 2021 and is expected to expand at a CAGR of 3.7% from 2022 to 2028 considering the increasing prevalence of various eye diseases across the globe.

Dry eye lacrimal devices demand is estimated to grow at a CAGR of 3.4% through 2028 driven by the rising incidences of dry eyes syndrome on account of aging and the side effect of certain drugs like antihistamines.

North America market for lacrimal devices accounted for around 34.3% of the total revenue share in 2021 and is anticipated to register appreciable growth owing to soaring disposable income and increasing awareness regarding secure treatment for numerous eye disorders.

Key companies operating in the lacrimal devices industry comprise BVI, FCI Ophthalmic, Lacrimedics, Kaneka Corporation, Bess Medical Technology GmbH, Rumex International, and others.