[173 Pages Report] From 2022 through 2029, global demand for medical Lacrimal Devices 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.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2021 | US$ 25.6 Million |
| Market Value 2022 | US$ 27.3 Million |
| Market Value 2029 | US$ 39.7 Million |
| CAGR 2022 to 2029 | 5.5% |
| Market Share of Top 5 Countries | 80% |
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.
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.
| Particulars | Details |
|---|---|
| H1, 2021 | 5.83% |
| H1, 2022 Projected | 5.83% |
| H1, 2022 Outlook | 5.83% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 45 ↓ |
A comparative analysis about the market growth rates and development prospects in the global lacrimal devices market has been presented by FMI. The market is subject to be influenced by device regulations and rate of procedure adoption in accordance, with impact of macro and industry factors. The development and launch of the E>Eye IRPL® Treatment device is a major progress in this market.
As per the analysis by Future Market Insights, the market is expected to show a dip in Basis Point Share (BPS) by 45 BPS units in H1-2022 (O) when compared with H1-2021. Major reasons for this decrease in BPS are attributed to the advent of the COVID-19 pandemic and subsequent proliferation of infectious agents, and the side effects associated with surgical incorporation of lacrimal devices.
The variation between the BPS values observed in the lacrimal devices market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 10 BPS.
Furthermore, due to a restricted number of manufacturers for lacrimal devices, there is a limited product availability, as well as lower awareness regarding device functionality. These factors are thus responsible for the subsequent reduction in the BPS value for the lacrimal devices market.
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The lacrimal devices market holds less than 1% in overall ophthalmic device market which is valued at 50.85 Bn in 2021 and projected to grow in forecast periods.
Over the last few years, medical and technological advancements have accelerated dramatically. The technological advancements are advantageous over traditional method in different perspectives.
In the traditional method such as dacryocystorhinostomy, the subarachnoid area is inadvertently accessed in, problems such as cutaneous scarring, harm to medial canthal structures, haemorrhage, infection, and cerebrospinal fluid rhinorrhoea have been reported.
In comparison to the traditional approach, the lacrimal devices offers a variety of advantages to patients, including improved minor incisions during surgery, more precision, lower infection risks, better patient outcomes with less healing time, and a longer lifespan.
The most frequent lacrimal system disease is nasolacrimal duct blockage. According to the article "Nasolacrimal Duct Obstruction" from 2020, published by NCBI, roughly 6 percent to 20% of babies suffer from various symptoms of nasolacrimal duct obstruction along with punctal agenesis or congenital fistulas.
Congenital nasolacrimal duct obstruction has a high incidence of spontaneous resolution, with roughly 70% of affected children free of symptoms by 3 months of age and over 90% recovering by their first birthday. Infants with trisomy 21, ectrodactyly-ectodermal dysplasia-cleft lip/palate syndrome, branchiooculofacial syndrome, CHARGE (coloboma, heart anomaly, choanal atresia, and retardation, genital and ear abnormalities) syndrome, and Goldenhar syndrome are at a higher risk for this disorder.
As a result, market growth is likely to be driven by the increased prevalence of such health disorders over the forecast period.
Bicanalicular lacrimal devices remain the most popular, because of its ease of use, increased patient compliance, material compatibility, and better clinical outcomes. Bicanalicular lacrimal devices account for maximum shares of global market value, and this trend is expected to continue through 2029.
The market is expected to expand at a considerable growth rate over the next seven years at a CAGR of close to 5.5%.
The lacrimal devices are more effective and is a minimal invasive procedure for the management of the lacrimal duct obstruction expected to generate more revenue generation opportunity with due to enhanced product efficacy. Increased awareness of the availability of Lacrimal Devices, as well as subsequent adoption, is predicted to produce significant income.
Improved adoption of devices for nasolacrimal duct obstruction management is predicted to be aided by increased awareness of their availability and efficacy among healthcare practitioners. There are many different types of Lacrimal Devices on the market, which means there's a lot of money to be made.
Because of the restricted number of producers and thus limited product availability, there is a significant unmet demand in the efficient management of lacrimal duct obstruction in both developing and developed countries.
According to research studies published in NCBI, the prevalence of nasolacrimal duct blockage disease is projected to rise dramatically as the number of new-borns each year rises. Furthermore, the DCR procedure's one-time treatment strategy reflects superior management of lacrimal duct occlusion.
As a result of these advancements, the lacrimal devices market is expected to be profitable over the forecast period.
Principal Consultant
Several complications such as corneal abrasion, canaliculitis, prolapse, and others can develop after a dacryocystorhinostomy (DCR) operation. Stent tubes in the lacrimal duct can become dislodged and travel via the lacrimal duct to the eye or nasal cavity, causing discomfort and, in rare cases, false channel construction during intubation, or cheese wiring of the punctum.
Despite the fact that producers in the lacrimal devices market are fixing problems by changing the length, manufacturing material, and other factors, the method still poses a risk of difficulties, especially given the age range for which stenting is performed. These problems may limit the market's future expansion.
The majority of lacrimal devices manufacturers are based in developed regions such as North America and Europe. Latin America, East and South Asia, and other developing nations frequently rely on western manufacturers. As a result, product availability is constrained in a number of high-revenue-potential locations, stifling market expansion.
Manufacturers who do not have a regional production plant rely on multiple regional or country-level distributors to get their goods into the market. It frequently leads to increased product costs and limited availability. Despite the fact that manufacturers are eager to expand their regional product footprints, their efforts are still limited.
The evaluation of lacrimal devices safety is an important part of the development process, which can be challenging. The market for lacrimal devices is hampered by the problems described above.
The U.S. dominates the North American region with a total market share of over 95.9% in 2021, and is projected to continue experiencing high growth throughout the forecast period.
U.S. is expected to have the biggest market share over the research period, because of its strong medical industry and high healthcare spending, The need for lacrimal devices is increasing due to advanced and contemporary medical and ophthalmology facilities, as well as a significant increase in lacrimal disorders.
The regional market is growing because of rising per ca-pita healthcare spending and favourable government initiatives for integrated healthcare systems in U.S. Furthermore, the growing number of individuals with retinal illnesses provides more chances for market participants.
Germany has a higher CAGR of 6.2% in the European medical lacrimal devices market during the forecast period and holds a majority share of 33.5% in 2021. This is majorly due to its improved regulatory environment for surgical devices and increased awareness among the population for such treatments in lacrimal duct obstruction and related health concerns. To efficiently serve their patients, industry companies have well-established direct channel collaborations with hospitals and ophthalmic clinics. Furthermore, the corporations have planned acquisitions with well-known clinics and hospitals in order to extend their business operations in the United Kingdom.
China is projected to increase at a CAGR rate of 6.5% during the forecast period. China maintains a significant contributor to global market value, thanks to increase per capita healthcare spending and several government programmes for integrated healthcare systems in the region.
Japanese lacrimal device market is projected to increase at a CAGR 6.3% during forecast period and holds a majority share of 81.1% in the East Asian market due its well-developed manufacturing capacity and supply chain globally.
Indian lacrimal devices market is expected to grow from US$ 0.42 Mn in 2021 to US$ 0.67 Mn by 2029 end. This represents CAGR of 5.8% over the opportunity assessment period. This is attributable to improved surgical device regulations and increased public knowledge of the need for such procedures in the event of lacrimal duct obstruction and other related disorders.
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The global lacrimal devices market is dominated by bicanalicular lacrimal duct stent tubes with total market share of over 74.5% in 2021. . Two probes with an intermediate stent are used in bicanalicular lacrimal tubes. For children with nasolacrimal duct obstruction, bicanalicular lacrimal intubation is an effective treatment, and the younger the children are, the better the success rate.
Easier use, higher patient compliance, and the material compatibility of the bicanalicular lacrimal duct stent with the patient without producing any adverse reactions are all major factors in the segment's growth.
In terms of revenue, hospitals with total market share of over 48.7% led the global lacrimal devices market, and this trend is expected to continue during the opportunity assessment period. Hospitals are predicted to be the most profitable segment as hospitals provides maximum availability of device to patients who visit these facilities for the treatment purpose.
North America continues to be the most profitable region in terms of revenue with total market share of over 47.2% in 2021 and it is expected to increase at a rapid pace during the projected period.
The COVID-19 pandemic originally had a restrictive impact on growth of lacrimal devices market. This impact was registered principally due to the guidelines published by different regulatory bodies, advising that patients getting treatment for non-urgent medical issues are at a greater risk of spreading of COVID-19 infections.
The rise in the prevalence of infectious diseases, chronic diseases and the increasing disease burden over the globe due to the COVID-19 pandemic led to advancements in digital solutions as well as automated testing solutions.
Leading lacrimal device manufacturers are focusing on geographic growth in order to increase revenue and expand their sales presence in emerging markets by acquiring local market players.
Manufacturers use strategic alliances, acquisitions, expansion, new launches, agreements, and research sponsorship as essential tactics to improve product sales in various geographies. With regional and worldwide competitors, the Lacrimal Devices market is moderately competitive.
FCI Ophthalmics, Kaneka Medical America LLC, Gunther Weiss Scientific Glassblowing, and Bess Medizintechnik GmBH are some of the global market participants. The key companies are pursuing various growth strategies such as acquisitions, product innovation, and expansion, all of which are contributing to the global growth of the Lacrimal Devices market.
Similarly, the Future Market Insights team has kept track of recent developments involving firms that manufacture Lacrimal Devices goods, which are detailed in the complete research.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | Million for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, UK, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, North Africa, GCC Countries, Turkey and South Africa |
| Key Market Segments Covered | Product, End User and Region |
| Key Companies Profiled |
|
| Pricing | Available upon Request |
The lacrimal devices market is expected to reach US$ 39.7 Mn by the end of 2029, with sales revenue expected to register 5.5% CAGR with present market value of
The U.S., Germany, France, Japan and China re expected to drive demand in Lacrimal Devices market.
By product, bicanalicular lacrimal devices emerged as the most appealing segment, accounting for 3/4 of the revenue share in the lacrimal devices market.
The prominent participants in the Lacrimal Devices market are FCI Ophthalmics and Kaneka Corporation. These companies' primary goal is to produce new products. Manufacturers compete on additional parameters such as good marketing strategy among ophthalmologists and cost effectiveness.
FCI Ophthalmics, Kaneka Corporation (Kaneka Pharma America LLC), Gunther Weiss Scientific Glass, Bess Medizintechnik GmBH are the key exporters of lacrimal devices market.
The lacrimal devices market was around US$ 25.6 Mn in 2021, with sales revenue registering growth of 5.2% CAGR between 2014 and 2021.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
4.1. Global Lacrimal Devices Market : Pricing Analysis
4.2. Epidemiology of Nasolacrimal Duct Obstruction ( with Treatment Seeking Rate & Untreated Population)
5. Global Lacrimal Devices Market - Pricing Analysis
5.1. Regional Pricing Analysis By Product
5.2. Global Average Pricing Analysis Benchmark
6. Global Lacrimal Devices Market Value (US$ Mn) Analysis 2014-2021 and Forecast, 2022-2029
6.1. Historical Market Value (US$ Mn) Analysis, 2014-2021
6.2. Current and Future Market Value (US$ Mn) Projections, 2022-2029
6.2.1. Y-o-Y Growth Trend Analysis
6.2.2. Absolute $ Opportunity Analysis
7. Market Background
7.1. Macro-Economic Factors
7.2. Forecast Factors - Relevance & Impact
7.3. Market Dynamics
7.3.1. Drivers
7.3.2. Restraints
7.3.3. Opportunity Analysis
8. Global Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029, by Product
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) & Volume Analysis By Product, 2014–2021
8.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Product, 2022-2029
8.3.1. Monocanalicular Lacrimal Duct Stent Tube
8.3.2. Bicanalicular Lacrimal Duct Stent Tube
8.4. Market Attractiveness Analysis By Product
9. Global Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029, by End User
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Mn) Analysis By End User, 2014–2021
9.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By End User, 2022-2029
9.3.1. Hospitals
9.3.2. Ophthalmic Clinics
9.3.3. Ambulatory Surgical Centers
9.4. Market Attractiveness Analysis By End User
10. Global Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029, by Region
10.1. Introduction / Key Findings
10.2. Historical Market Size (US$ Mn) Analysis By Region, 2014–2021
10.3. Current and Future Market Size (US$ Mn) Analysis and Forecast By Region, 2022-2029
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. East Asia
10.3.5. South Asia
10.3.6. Oceania
10.3.7. Middle East and Africa (MEA)
10.4. Market Attractiveness Analysis By Region
11. North America Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
11.1. Introduction
11.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
11.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
11.3.1. By Country
11.3.1.1. U.S.
11.3.1.2. Canada
11.3.2. By Product
11.3.3. By End User
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Product
11.4.3. By End User
11.5. Drivers and Restraints - Impact Analysis
12. Latin America Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
12.1. Introduction
12.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
12.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
12.3.1. By Country
12.3.1.1. Brazil
12.3.1.2. Mexico
12.3.1.3. Argentina
12.3.1.4. Rest of Latin America
12.3.2. By Product
12.3.3. By End User
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Product
12.4.3. By End User
12.5. Drivers and Restraints - Impact Analysis
13. Europe Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
13.1. Introduction
13.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
13.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
13.3.1. By Country
13.3.1.1. Germany
13.3.1.2. Italy
13.3.1.3. France
13.3.1.4. U.K.
13.3.1.5. Spain
13.3.1.6. BENELUX
13.3.1.7. Russia
13.3.1.8. Rest of Europe
13.3.2. By Product
13.3.3. By End User
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product
13.4.3. By End User
13.5. Drivers and Restraints - Impact Analysis
14. South Asia Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
14.1. Introduction
14.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
14.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
14.3.1. By Country
14.3.1.1. India
14.3.1.2. Thailand
14.3.1.3. Indonesia
14.3.1.4. Malaysia
14.3.1.5. Rest of South Asia
14.3.2. By Product
14.3.3. By End User
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product
14.4.3. By End User
14.5. Drivers and Restraints - Impact Analysis
15. East Asia Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
15.1. Introduction
15.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
15.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
15.3.1. By Country
15.3.1.1. China
15.3.1.2. Japan
15.3.1.3. South Korea
15.3.2. By Product
15.3.3. By End User
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product
15.4.3. By End User
15.5. Drivers and Restraints - Impact Analysis
16. Oceania Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
16.1. Introduction
16.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
16.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
16.3.1. By Country
16.3.1.1. Australia
16.3.1.2. New Zealand
16.3.2. By Product
16.3.3. By End User
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product
16.4.3. By End User
16.5. Drivers and Restraints - Impact Analysis
17. Middle East and Africa Lacrimal Devices Market Analysis 2014-2021 and Forecast 2022-2029
17.1. Introduction
17.2. Historical Market Size (US$ Mn) Analysis By Market Taxonomy, 2014–2021
17.3. Current and Future Market Size (US$ Mn) & Volume Analysis and Forecast By Market Taxonomy, 2022-2029
17.3.1. By Country
17.3.1.1. GCC Countries
17.3.1.2. Turkey
17.3.1.3. Northern Africa
17.3.1.4. South Africa
17.3.1.5. Rest of Middle East and Africa
17.3.2. By Product
17.3.3. By End User
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Product
17.4.3. By End User
17.5. Drivers and Restraints - Impact Analysis
18. Emerging Countries Lacrimal Devices Market Analysis 2022 & 2029
18.1. Introduction
18.1.1. Market Value Proportion Analysis, By Key Countries
18.1.2. Global Vs. Country Growth Comparison
18.2. China Lacrimal Devices Market Analysis
18.2.1. Introduction
18.2.2. PEST Analysis
18.2.3. Market Value Analysis by Market Taxonomy
18.2.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy
18.2.4.1. By Product
18.2.4.2. By End User
18.3. India Lacrimal Devices Market Analysis
18.3.1. Introduction
18.3.2. PEST Analysis
18.3.3. Market Value Analysis by Market Taxonomy
18.3.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy
18.3.4.1. By Product
18.3.4.2. By End User
18.4. Brazil Lacrimal Devices Market Analysis
18.4.1. Introduction
18.4.2. PEST Analysis
18.4.3. Market Value Analysis by Market Taxonomy
18.4.4. Market Value (US$ Mn) Analysis and Forecast by Market Taxonomy
18.4.4.1. By Product
18.4.4.2. By End User
19. Competition Analysis
19.1. Competition Dashboard
19.2. Competition Benchmarking
19.3. Competition Deep Dive
19.3.1. FCI Ophthalmics
19.3.1.1. Overview
19.3.1.2. Product Portfolio
19.3.1.3. Profitability by Market Segments(Product/Channel/Region)
19.3.1.4. Sales Footprint
19.3.1.5. Strategy Overview
19.3.1.5.1. Marketing Strategy
19.3.1.5.2. Product Strategy
19.3.1.5.3. Channel Strategy
19.3.2. Kaneka Pharma America LLC
19.3.2.1. Overview
19.3.2.2. Product Portfolio
19.3.2.3. Profitability by Market Segments(Product/Channel/Region)
19.3.2.4. Sales Footprint
19.3.2.5. Strategy Overview
19.3.2.5.1. Marketing Strategy
19.3.2.5.2. Product Strategy
19.3.2.5.3. Channel Strategy
19.3.3. Gunther Weiss Scientific Glass
19.3.3.1. Overview
19.3.3.2. Product Portfolio
19.3.3.3. Profitability by Market Segments(Product/Channel/Region)
19.3.3.4. Sales Footprint
19.3.3.5. Strategy Overview
19.3.3.5.1. Marketing Strategy
19.3.3.5.2. Product Strategy
19.3.3.5.3. Channel Strategy
19.3.4. Bess Medizintechnik Gmbh
19.3.4.1. Overview
19.3.4.2. Product Portfolio
19.3.4.3. Profitability by Market Segments(Product/Channel/Region)
19.3.4.4. Sales Footprint
19.3.4.5. Strategy Overview
19.3.4.5.1. Marketing Strategy
19.3.4.5.2. Product Strategy
19.3.4.5.3. Channel Strategy
20. Assumptions and Acronyms Used
21. Research Methodology
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Lacrimal Devices Market
