Segment of punctual traffic jams exceeded $24.7 million in 2021 and is expected to experience a significant CAGR through 2028 due to the increasing incidence of eye disorders globally. Punctal plugs are tiny medical devices commonly used to prevent drainage of tears to maintain optimal moisture in the eye. These biocompatible devices are inserted into the tear ducts to block tear drainage. Additionally, punctal plugs increase the tear film of an eye and keep the eye moist to help relieve some forms of dry eye. Thus, these above-mentioned factors are predictable to boost the tear device market landscape.
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The diagnostic centers segment accounted for 10.1% revenue share in 2021. Diagnostic centers are equipped with various technological diagnostic tools for accurate diagnosis of one or more lacrimal gland disorders. These centers offer a wide range of laboratory procedures to help healthcare professionals effectively manage and treat patients. These factors mentioned above will boost the outlook for the industry.
Some major findings of the Tear Devices Market report include:
- The widespread use of punctal plugs, especially in the drainage of tears to maintain optimum moisture in the eye, will boost the landscape of the industry.
- A large patient population with various eye diseases will propel the Asia Pacific market outlook.
- Market players have adopted various strategies such as mergers and acquisitions, new product launches and approvals, and business expansion to generate significant revenue growth.
Browse key industry information spread over 145 pages with 199 market data tables and 16 report figures and graphs, “Lacrimal Devices Market Forecast by Application (Dry Eye, Glaucoma, Drainage Obstruction, Epiphora, Lacrimal Gland Inflammation), Product (Tubes, Intubation Sets, Stents, Cannula & Spatula, Dilator, Punctal Plugs), End Use ( Hospitals, Eye Clinics, Diagnostic Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share and Forecast, 2022-2028” in detail with the table of contents:
The glaucoma segment tear devices market is expected to exceed USD 45.9 million by 2028. Glaucoma is an eye condition that damages the optic nerve due to high eye pressure that can also lead to blindness. For example, according to the World Health Organization (WHO), glaucoma causes irreversible blindness, and it is the second leading cause of blindness after cataracts. Glaucoma can occur at any age, but most often occurs in people over the age of 60. Hence, the availability of advanced glaucoma treatment along with the use of glaucoma drainage system implantation devices including tear devices will drive the market demand.
Asia Pacific tear device market is expected to grow at a CAGR of 4.8% through 2028. Large patient population in densely populated countries such as China and India are prone to various types of eye disorders such as dry eye and glaucoma will drive business expansion. In addition, the presence of a large number of local manufacturers in South East Asia will fuel regional market revenue.
A few prominent companies operating in the tear device industry include FCI Ophthalmic, Kaneka Corporation, BVI, Lacrimedics, Rumex International, Bess Medical Technology GmbH, and JEDMED among others.
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