Lacrimal Devices Market Analysis Growth Drivers and Forecast 2023-2030 Scrutinized in New Research

Lacrimal Devices: Introduction

Lacrimal is an ophthalmic protective system that helps keep the eye moist and free of dust particles. Lacrimal devices are usually limited to the eye’s nasal punctum and lacrimal ducts. The aim of the lacrimal devices is to repair the lacrimal drainage system. A catheter or a balloon made of silicone is inserted into the punctum during a nasal punctum procedure. Subsequently, the balloon is inserted into the lacrimal duct in order to hold the nasolacrimal duct intact and allow the drainage of tear fluid from the eye.

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High demand for safe lacrimal treatment procedures for improved patient outcomes is a significant factor boosting the market of lacrimal devices. For instance, ophthalmologists highly prefer balloon catheter dilation for better patient compliance with the pediatric age group. This ease of operation would lead to an increase in the number of patient admissions, number of procedures, and adoption of lacrimal devices.

The COVID-19 pandemic has disrupted the continuum of ophthalmic practice, as numerous countries have limited or suspended screening systems and services to some degree. For instance, the Canadian Society of Ophthalmologists has recommended that all non-emergency operations, including lacrimal surgery and endoscopic dacryocystorhinostomy, be delayed. It is therefore predicted that the unprecedented effect of COVID-19 would have a slightly negative impact on the market. However, companies operating in the market are focused on development of innovative products for eye surgery, thereby fueling the industry.

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Market Dynamics of Global Lacrimal Devices Market

Technological advancements to drive market

Advancements in technology, new product launches, and rising demand for eye care are expected to drive the lacrimal devices market. For instance, Dacryocystitis is an inflammation or infection of the nasolacrimal sac that is usually followed by nasolacrimal duct blockage. The need for eye care would increase the prevalence of such diseases.

Expansion of the market is expected to be driven by the development of novel products for eye surgery. The market is estimated to expand owing to the rising attention of industry players on highly accurate, improved, and cost-effective lacrimal devices. For instance, in October 2019, AlphaMed received approval from the U.S. FDA for its Dissolvable Punctum Plugs for Tear Pool. The plugs are meant to be inserted into the canaliculus, temporarily limiting the natural lubricating tears from draining from the eye surface

Rise in prevalence of obstruction of the nasolacrimal duct to boost market revenue

Major factors contributing to a rise in the incidence rate of drainage obstruction are age-related risks, inflammation and injury & trauma, and congenital blockage. Furthermore, increased prevalence of obstruction of the nasolacrimal duct coupled with the ease of lacrimal treatment procedures is likely to boost product demand.

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Risk of postoperative complications associated with lacrimal devices to hamper market

Postoperative complications associated with lacrimal devices is estimated to hinder the global lacrimal device industry in the near future. Market leaders are seeking to create novel lacrimal devices; however, their acceptance rate could be adversely affected by side effects. For instance, side effects associated with lacrimal devices are estimated to decrease their adoption in hospitals and ophthalmic clinics, especially in low-income countries, thereby hindering business. Moreover, low disposable income of the population in developed countries results in lower healthcare spending; consequently, restricting the development of the industry.

Lacrimal Devices Market: Segmentation

  • Global lacrimal devices market can be segmented into product, application, and end-user
  • Based on product, global lacrimal devices market can be classified into intubation sets, tubes, stents, cannula & spatula, dilator, and punctal plugs
  • Based on application, global Lacrimal Devices market can be segregated into dry eye, glaucoma, epiphora, drainage obstruction, and lacrimal gland inflammation
  • Based on end-user, global lacrimal devices market can be split into hospitals, ophthalmic clinics, and diagnostic centers

Asia Pacific Lacrimal Devices Market to Expand at a Rapid Pace

In terms of region, the global lacrimal devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Demand for lacrimal devices was significantly high in North America in 2019 followed by Europe. Expansion of the market in North America is driven by an increased occurrence of eye diseases and the availability of advanced technology products. Increase in understanding of safe treatment of lacrimal gland tumors among individuals is estimated to propel the market. Furthermore, the involvement of major industry players has significantly boosted the market in North America.

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Leading Players Operating in Global Lacrimal Devices Market

The global lacrimal devices market was highly fragmented in 2019. Key players operating in the global Lacrimal Devices market are:

  • FCI Ophthalmic
  • Kaneka Corporation
  • Cook Group
  • BVI
  • Lacrimedics
  • Rumex Internationa
  • Bess Medical Technology GmbH

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