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Lacrimal Devices: Introduction

  • Lacrimal is an ophthalmic protective system that helps keep the eye moist and free of dust particles. Lacrimal devices are usually limited to the eye's nasal punctum and lacrimal ducts. The aim of the lacrimal devices is to repair the lacrimal drainage system. A catheter or a balloon made of silicone is inserted into the punctum during a nasal punctum procedure. Subsequently, the balloon is inserted into the lacrimal duct in order to hold the nasolacrimal duct intact and allow the drainage of tear fluid from the eye.
  • High demand for safe lacrimal treatment procedures for improved patient outcomes is a significant factor boosting the market of lacrimal devices. For instance, ophthalmologists highly prefer balloon catheter dilation for better patient compliance with the pediatric age group. This ease of operation would lead to an increase in the number of patient admissions, number of procedures, and adoption of lacrimal devices.
  • The COVID-19 pandemic has disrupted the continuum of ophthalmic practice, as numerous countries have limited or suspended screening systems and services to some degree. For instance, the Canadian Society of Ophthalmologists has recommended that all non-emergency operations, including lacrimal surgery and endoscopic dacryocystorhinostomy, be delayed. It is therefore predicted that the unprecedented effect of COVID-19 would have a slightly negative impact on the market. However, companies operating in the market are focused on development of innovative products for eye surgery, thereby fueling the industry.

Market Dynamics of Global Lacrimal Devices Market

  • Technological advancements to drive market
  • Advancements in technology, new product launches, and rising demand for eye care are expected to drive the lacrimal devices market. For instance, Dacryocystitis is an inflammation or infection of the nasolacrimal sac that is usually followed by nasolacrimal duct blockage. The need for eye care would increase the prevalence of such diseases.
  • Expansion of the market is expected to be driven by the development of novel products for eye surgery. The market is estimated to expand owing to the rising attention of industry players on highly accurate, improved, and cost-effective lacrimal devices. For instance, in October 2019, AlphaMed received approval from the U.S. FDA for its Dissolvable Punctum Plugs for Tear Pool. The plugs are meant to be inserted into the canaliculus, temporarily limiting the natural lubricating tears from draining from the eye surface
  • Rise in prevalence of obstruction of the nasolacrimal duct to boost market revenue
  • Major factors contributing to a rise in the incidence rate of drainage obstruction are age-related risks, inflammation and injury & trauma, and congenital blockage. Furthermore, increased prevalence of obstruction of the nasolacrimal duct coupled with the ease of lacrimal treatment procedures is likely to boost product demand.
  • Risk of postoperative complications associated with lacrimal devices to hamper market
  • Postoperative complications associated with lacrimal devices is estimated to hinder the global lacrimal device industry in the near future. Market leaders are seeking to create novel lacrimal devices; however, their acceptance rate could be adversely affected by side effects. For instance, side effects associated with lacrimal devices are estimated to decrease their adoption in hospitals and ophthalmic clinics, especially in low-income countries, thereby hindering business. Moreover, low disposable income of the population in developed countries results in lower healthcare spending; consequently, restricting the development of the industry.

Lacrimal Devices Market: Segmentation

  • Global lacrimal devices market can be segmented into product, application, and end-user
  • Based on product, global lacrimal devices market can be classified into intubation sets, tubes, stents, cannula & spatula, dilator, and punctal plugs
  • Based on application, global Lacrimal Devices market can be segregated into dry eye, glaucoma, epiphora, drainage obstruction, and lacrimal gland inflammation
  • Based on end-user, global lacrimal devices market can be split into hospitals, ophthalmic clinics, and diagnostic centers

Asia Pacific Lacrimal Devices Market to Expand at a Rapid Pace

  • In terms of region, the global lacrimal devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Demand for lacrimal devices was significantly high in North America in 2019 followed by Europe. Expansion of the market in North America is driven by an increased occurrence of eye diseases and the availability of advanced technology products. Increase in understanding of safe treatment of lacrimal gland tumors among individuals is estimated to propel the market. Furthermore, the involvement of major industry players has significantly boosted the market in North America.

Leading Players Operating in Global Lacrimal Devices Market

The global lacrimal devices market was highly fragmented in 2019. Key players operating in the global Lacrimal Devices market are:

  • FCI Ophthalmic
  • Kaneka Corporation
  • Cook Group
  • BVI
  • Lacrimedics
  • Rumex Internationa
  • Bess Medical Technology GmbH

Global Lacrimal Devices Market: Research Scope

Global Lacrimal Devices Market, by Product

  • Intubation Sets
  • Tubes
  • Stents
  • Cannula & Spatula
  • Dilator
  • Punctal Plugs

Global Lacrimal Devices Market, by Application Type

  • Dry Eye
  • Glaucoma
  • Epiphora
  • Drainage Obstruction
  • Lacrimal Gland Inflammation)

Global Lacrimal Devices Market, by End-users

  • Hospitals
  • Ophthalmic Clinics
  • Diagnostic Centers

Global Lacrimal Devices Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Lacrimal Devices Market

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