Lacrimal Duct Stent Tube Market to Exhibit 6% CAGR Through 2029; Coronavirus Threat to Restrict Growth in Near Future
Major lacrimal duct stent tube manufacturers are focusing on minimally invasive DCR procedures to bolster adoption rates through hospitals, outpatient clinics, and ambulatory surgical centers.
The global lacrimal duct stent tube market will display a promising 6% CAGR through the forecast period 2019 – 2029. According to a new study by Future Market Insights (FMI), the market for lacrimal duct stent tube is largely influenced by the expenditure on healthcare, and a widening pool of patients suffering from nasolacrimal duct obstruction. The growing popularity of non-invasive surgeries will also contribute to growth.
“Improved success rates, minimally invasive surgery, superior outcomes, and increasing awareness among ophthalmologists are key factors bolstering growth in the lacrimal duct stent tube market,” reveals the FMI report.
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Key Research Findings
- On the basis of type, bicanalicular lacrimal duct stent tube will account for three quarters of the overall revenue share through the forecast period.
- Hospitals will hold a larger market share through the forecast period, followed closely by ophthalmic clinics.
- Gains of the global lacrimal duct stent tube market will remain largely concentrated in North America, driven by expanding numbers of retinal disease cases.
- The East Asia Market will display lucrative opportunities, driven by the rising number of relevant health professionals.
Key Growth Drivers
- The growing patient pool and rising expenditure on the healthcare sector play major roles in the growth of market.
- Advancements and the growing demand for non-invasive surgeries add to the global footprint of players.
- Increasing global incidences of retinal diseases is a major factor contributing to market growth.
- The rising promotional activities about nasolacrimal duct obstruction management for health care professionals will drive adoption.
- The risk of corneal abrasion from treatment procedures continues to be a key restraint to the global market.
- Risk of complications among patients of younger demographics, could hamper the potential market growth.
The Coronavirus Impact
Governments around the world have set up financial relief packages for healthcare professionals being impacted by the global coronavirus pandemic. However, guidelines have also been encouraging doctors to stop providing all treatments of a non-urgent nature, for the foreseeable future, till the outbreak is brought under control.
This trend is likely to hamper the global market for lacrimal duct stent tubes in the near future. The decline in demand will impact profits and production schedules in the months ahead. With advances in ophthalmology tech, recovery of the industry is likely to be sluggish in the near future, as countries seek to conserve their medical supply stocks, for applications that have a higher priority.
Explore the complete lacrimal duct stent tube market report with 119 illustrative figures, 38 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-9649
Competition Structure Analysis – Lacrimal Duct Stent Tube Market
The competition landscape of lacrimal duct stent tube market remains moderately consolidated. Key players are investing in research and development activities in a bid to bolster product development to meet patient needs with better outcomes. Innovations towards treating dacryocystorhinostomy (DCR), and congenital nasolacrimal duct obstruction (CNLDO) remain major strategies.
Some of the key players in the lacrimal duct stent tube market include, but are not limited to Bess Medizintechnik Gmbh, FCI Opthalmics, Gunther Weiss Scientific Glass, and Kaneka Corporation.
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About the Report
This report offers global, regional, and national level analysis on the latest trends in the industry influencing the lacrimal duct stent tube market. The study provides actionable insights on the lacrimal duct stent tube market on the basis of product (monocanalicular lacrimal duct stent tube and bicanalicuar lacrimal duct stent tube), and end user (hospitals, ophthalmic clinics, and ambulatory surgical centers) across 30 countries spanning seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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