Lacrimal Devices Market is Growing 5.5% CAGR Over the Forecast Period Through 2029
Introduction of upgraded and highly precise lacrimal duct stent tube for canalicular stenosis or obstruction and congenital nasolacrimal duct obstruction remains a key booster to the growth of lacrimal duct stent tube market. The global market for lacrimal duct stent tube is projected for a promising 5.5% CAGR during 2022 – 2029, as suggested by a new Future Market Insights (FMI) report.
There has been higher preference for bicanalicular lacrimal duct stent tube over its monocanalicular counterpart, attributing to the former’s high success rate, suitability for stenting in older patients, and better clinical outcomes.
Moreover, increasing prevalence of retina-related conditions, primarily imperforation of nasolacrimal duct, epiphora both in infants and adults, and conditions necessitating dacryocystorhinostomy are other factors responsible for propelling revenue growth of the lacrimal duct stent tube market.
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Manufacturers Emphasizing Advanced Product Development
Numerous organizations are focusing on new product development for lacrimal duct stent tube. In June 2019, FCI Ophthalmic offered a complete line of BIKA stents namely, BIKA, BIKA for DCR, and Infant BIKA covering a range of sizes that will benefit most of the congenital nasolacrimal duct obstruction (CNLDO) and dacryocystorhinostomy (DCR) cases.
Key Takeaways – Lacrimal Duct Stent Tube Market Study
- Bicanalicular lacrimal duct stent tube is expected to contribute three fourth of revenue share in the lacrimal duct stent tube market owing to its high success rate in stent placement.
- Hospitals captured maximum share of the lacrimal duct stent tube market owing to highest patient footfall followed by ophthalmic clinics.
- Attributed to growing patient pool for retinal diseases, especially due to premature births, contributed to the dominance of North America in the lacrimal duct stent tube market.
- Increasing awareness for availability of the treatment for nasolacrimal duct stent obstruction among caregivers of prematurely born babies and increasing number of skilled professionals are expected to drive growth of the lacrimal duct stent tube market in East Asia.
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Key Market Segments Covered In Lacrimal Devices Industry Research
- Monocanalicular Lacrimal Duct Stent Tube
- Bicanalicular Lacrimal Duct Stent Tube
By End User:
- Ophthalmic Clinics
- Ambulatory Surgical Centers
- North America
- Latin America
- South Asia
- East Asia
- Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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