Lacrimal Stent and Tube Systems Market Report Overview
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The global lacrimal stent and tube systems market size was USD 36.32 million in 2022 and market is projected to touch USD 72.2 million by 2031, at a CAGR of 7.11% from 2022 to 2031.
Lacrimal stent is small diameter tubes kept within the nasolacrimal system to maintain patency. It is hollow silicone tubing with a non-traumatic tip. It provides a bypass path for tear drainage when the usual tear ducts fail and alternative drainage mechanisms are unavailable. It helps to keep the eye moist and free of dust particles. It also plays a prominent role in repairing and treating lacrimal drainage systems. It is used to treat epiphora both in adults and infants, obstruction, stenosis, and treat conditions necessitating dacryocystorhinostomy.
Lacrimal stent and tube systems have been used in past to keep the lacrimal pathways patent after surgery, trauma and reconstruction. Market players have disclosed innovative techniques for developing new treatments with a focused strategies. Growing pharmaceutical industry, innovative and high-success-rate treatments, and increasing investment by manufacturers are factors that will help to increase demand for lacrimal stent and tube systems.
COVID-19 Impact: Pandemic Increased the Market Demand
The COVID-19 pandemic's implementation of lockdown resulted in a temporary ban on production and processing, as well as import and export, across a variety of enterprises and utilities. However, the pandemic had a positive effect on the expansion of the market for lacrimal stent and tube systems due to the rising demand for medical supplies and respiratory support equipment like oxygen generators and atomizers. The growth of the market was impacted by the rising number of cases worldwide, the requirement for medical supplies and personal protective equipment, government aid to the healthcare sector, population growth, and expanding pharmaceutical industries.
Latest Trends
"Increasing Preference for High Quality Care to Drive the Market Growth "
Rising healthcare facilities, development of infrastructure, increase in the number of skilled doctors and nursing staff for proper care, awareness regarding benefits of lacrimal stent and tube systems are expected to boost the growth of market during the forecast period. In 2019, “Kaneka Pharma America LLC”, launched “LACRIFLOW CL”, a Nasolacrimal Duct Obstruction (NLDO) device which can help physician to treat Nasolacrimal Duct Obstruction (NLDO). In 2019, “Aurolab” has launched “Lacrimal Incubation Set” used in conventional dacryocysto rhinostomy (DCR) procedure. In November 2021, Innovia Medical announced the acquisition of Lacrimedics Inc, an occlusion therapy device for treating dry eye diseases. These recent developments are anticipated to propel market growth.
Lacrimal Stent and Tube Systems Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Monocanalicular Stents and Bicanalicular Stents.
- By Application Analysis
Based on application, the market can be divided into Hospitals, Clinics and Others.
Driving Factors
"Increasing Prevalence of Eye Disease to Stimulate Market Demand"
In recent years, healthcare costs have risen. The prevalence of various eye conditions like dry eye, epiphora, drainage obstruction, high costs of diagnostic tests, growing public awareness of the advantages of lacrimal tubes, advancements in the healthcare sector, development of highly sophisticated equipment, and other similar reasons are driving the lacrimal stent and tube systems market growth.
"Advancements in Lacrimal Stent to Boost Market Growth"
Rapid technical development has contributed to the expansion of the healthcare industry and improvements in medical facilities, which support the manufacturing of high-quality and reasonably priced lacrimal stents. In order to gain market share, the major players in the business are also developing fresh concepts and innovations. Variety of new products in the market is anticipated to fuel market expansion.
Restraining Factors
"Risk of Side Effects to Hamper Market Demand"
Incorporation of lacrimal stents and tubes during surgery or after surgery is associated with certain side effects which may cause irritation and inflammation in the tear ducts. There is always a risk of scarring and damage. In addition to this, lacrimal gland tumor surgery can lead to damage of optic nerve or retinal vessels. These factors are responsible to hinder the growth of market.
Lacrimal Stent and Tube Systems Market Regional Insights
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"Increasing Awareness Regarding Lacrimal Stent in North America Anticipated to Boost Market Expansion "
North America is thought to be the most dominant region in terms of lacrimal stent and tube systems market share due to rising awareness of surgical process and lacrimal stents, advanced medical and ophthalmology facilities, and rapid improvements in technology. The development of new products by major players and robust government backing for healthcare professionals are the main factors projected to contribute to the industry's growth.
Key Industry Players
"Adoption Innovative Strategies by Key Players Influencing Market Development "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Bess Medizintechnik GmbH, Sinopsys Surgical, Kaneka, Cook Medical and FCI Ophthalmics. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the market demand.
List of Market Players Profiled
- Bess Medizintechnik GmbH
- Sinopsys Surgical
- Kaneka
- Cook Medical
- FCI Ophthalmics
Report Coverage
This report examines an understanding of the lacrimal stent and tube systems market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 36.32 Million in 2021 |
Market Size Value By |
US$ 72.2 Million by 2031 |
Growth Rate |
CAGR of 7.11% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global lacrimal stent and tube systems market expected to touch by 2031?
The global lacrimal stent and tube systems market is expected to touch USD 72.2 million by 2031.
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What CAGR is the lacrimal stent and tube systems market expected to exhibit during 2031?
The lacrimal stent and tube systems market is expected to exhibit a CAGR of 7.11% over 2031.
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Which are the driving factors of the lacrimal stent and tube systems market?
Growing prevalence of eye diseases and increased demand for ophthalmic treatments with greater success rates are the driving factors of market.
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Which are the top companies operating in the lacrimal stent and tube systems market?
Bess Medizintechnik GmbH, Sinopsys Surgical, Kaneka, Cook Medical and FCI Ophthalmics