Lacrimal Devices Market growth predicted at 4%+ through 2026: Global Market Insights, Inc.

Major lacrimal devices market players include CI Ophthalmic, Kaneka Corporation, Cook Group, BVI, Lacrimedics, Rumex International, Bess Medical Technology gmbh and JEDMED.

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Selbyville, Delaware, Sept. 14, 2020 (GLOBE NEWSWIRE) --

According to latest report “Lacrimal Devices Market by Product (Intubation Sets, Tubes, Stents, Cannula & Spatula, Dilator, Punctal Plugs), Application (Dry Eye, Glaucoma, Epiphora, Drainage Obstruction, Lacrimal Gland Inflammation), End-use (Hospitals, Ophthalmic Clinics, Diagnostic Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of lacrimal devices will cross $200 million by 2026.

High demand for secure lacrimal treatment procedures for better patient outcome is a major impact rendering factor for the lacrimal devices market growth. For instance, ophthalmologists highly prefer balloon catheter dilation for better patient compliance of pediatric age group. Such ease of procedure will lead to increase in number of patient admissions, number of procedures and adoption of lacrimal devices. Moreover, high demand for safe treatment for various types of lacrimal gland tumor across the globe will further foster the industry expansion.

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The punctal plugs segment valuation was around USD 25.9 million in 2019 due to increasing number of eye surgeries across the globe. These plugs are easy to insert and can resists migration, help in retain tears and reduce the symptoms of dry eye. Furthermore, rapid increase in number of nasolacrimal duct obstruction cases among infants will drive the segment growth.

The epiphora application segment accounted for USD 14.8 million revenue in 2019 owing tolack of drainage related to eyelid disease and reflux hypersecretion as well as other environmental factors. Additionally, increasing prevalence of eye disorders in the emerging economies will further boost the segment value.

Diagnostic centers end-use segment held over 10.1% market share in 2019. Diagnostic centers are healthcare facilities that provide wide range of laboratory procedures to aid the healthcare professionals efficient management and treatment of patients. Diagnostic centers use various lacrimal devices for accurate diagnosis of one or more lacrimal gland disorders.

Asia Pacific Lacrimal devices market will showcase growth of more than 5.3% till 2026. Presence of large patient pool in highly populous countries such as India and China that are prone to various types of eye disorders will favor market size expansion.  In addition, presence of large number of local manufacturers in Southeast Asia will further fuel the APAC market growth.

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A few notable companies operating in the lacrimal devices market include FCI Ophthalmic, Kaneka Corporation, Cook Group, BVI, Lacrimedics, Rumex International, Bess Medical Technology gmbh and JEDMED, among others. Industry players are focusing on various strategies such as acquisition, business expansion and novel product launches to consolidate their market presence.

Table of Contents (ToC) of the report:

Chapter 3.    Lacrimal Devices Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 - 2026

3.3. Industry impact forces

3.3.1.    Growth drivers

3.3.2.    Industry pitfalls & challenges

3.4. Growth potential analysis

3.4.1.    By product

3.4.2.    By application

3.4.3.    By end-use

3.5. COVID-19 impact analysis

3.6. Porter’s analysis

3.7. Competitive landscape

3.7.1.    Company matrix analysis, 2019

3.8. PESTEL analysis

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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