Global Lacrimal Duct Stent Tube Market - 2022-2029

Global Lacrimal Duct Stent Tube Market - 2022-2029

Market Overview

Lacrimal Duct Stent Tube Market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 5.2% during the forecast period (2022-2029).

Lacrimal devices are a protective ophthalmic device that helps keep the eye moist and free of dust particles. These devices are generally considered the eye's lacrimal ducts and nasal punctum. These devices play a vital role in repairing and treating lacrimal drainage systems. Lacrimal stents and intubation sets are solely used to treat epiphora both in adults and infants, obstruction, stenosis, and treat conditions necessitating dacryocystorhinostomy. Lacrimal duct stent tubes are small diameter tubes placed within the nasolacrimal system to maintain patency. Typically, the tubes are silicone or similar semi-rigid yet flexible material with an open central lumen. Nasolacrimal tubes are used primarily in lacerations or obstructing one or more parts of the tear drainage system. The global lacrimal duct stent tube market growth is augmented by increasing demand for ophthalmology treatments with better success rates, minimal invasions, and a rise in patients for nasolacrimal duct obstruction.

Market Dynamics: The introduction of advanced and high success rate treatments propel the market growth during the forecast period.

Adopting precise and upgraded lacrimal devices such as the new lacrimal cannula, which combines flexibility and strength to reduce trauma by allowing easy access to the canaliculus, is a key factor proliferating the market growth. As lacrimal duct stent tubes and dacryocystorhinostomy (DCR) surgery are minimally invasive, their adoption has significantly increased across hospitals. Moreover, the growing demand for lacrimal duct stent tubes from an optometrist or general physicians and hospitals performing lacrimal dilation and irrigation is likely to spur product revenue in the following years. Also, outpatient clinics such as ambulatory surgical centers (ASC) and ophthalmic clinics adopt lacrimal duct stent tubes due to the ease and high success rates in lacrimal treatment procedures. Additionally, effective results obtained by using cost-effective lacrimal duct stent tubes further bolster industry growth.

Moreover, the Growing number of patients suffering from dacryostenosis drives the product demand during the review period. Nasolacrimal duct obstruction (NLDO) or dacryostenosis is the most common lacrimal system disorder. According to the article ‘Nasolacrimal Duct Obstruction’ published in 2020, around 6.0% to 20.0% of newborn patients present with some symptoms. There is a high rate of spontaneous resolution of NLDO, with about 70% of affected children being free of the symptoms within 3 months and more than 90% recovering within a year old. In some cases, 20% of healthy newborn babies were at high risk of defective lacrimal drainage during the first year of life. Lacrimal intubation has been adopted as a very prevalent surgery for congenital NLDO in the past few years. This surgery does not respond to conservative medical treatments or failed probing. Moreover, there are other related health conditions to lacrimal duct obstruction, such as dacryocystitis, an inflammation caused in the nasolacrimal sac and is generally followed by nasolacrimal duct blockage. Due to the high incidence of such health conditions, there is significant demand for the product over the forecast timeline.

Complications related to lacrimal duct stent tubes are expected to hamper the market growth.

Various complications associated with lacrimal duct stent tubes are likely to restrain the product demand. A common difficulty with silicone stents is the displacement of tubes or lateral migration, which is difficult to correct. Also, the lack of optometrists and physicians to perform ophthalmic surgeries in underdeveloped countries further hinders market growth.

Market Segmentation: Bicanalicular lacrimal duct stent tube segment accounted for the highest share in global lacrimal duct stent tube market.

Bicanalicular lacrimal intubation has gained popularity in treating children with nasolacrimal duct obstruction, and the younger the children, the higher the success rate. Bicanalicular lacrimal tubes consist of two probes with an overriding stent. One probe is passed over the upper punctum while the other over the lower punctum. The probes are removed, and the free ends of the silicone tube are tied in the nose and are sometimes secured with a suture. The results are better with a longer duration of tube retention. This duct stent tube continues to be most-selling in the medical sector, improving patient compliance, easier usability, better clinical outcomes, and material compatibility, thus driving product demand.

Based on end-user, the lacrimal duct stent tube market is classified into hospitals, ophthalmic clinics, and ambulatory surgical centers.

The hospital segment is expected to witness the largest market share globally due to significant hospital infrastructure advancements and a rise in hospitals in emerging countries. As lacrimal stent tubes are minimally invasive with DCR procedures, their adoption in hospitals has increased considerably. A significant increase in healthcare expenditure to develop new hospitals in developed countries to provide better medical facilities offers lucrative opportunities for the market players.

Geographical Penetration: North America is the dominating region during the forecast period.

The North American region is projected to register the highest market share during the review period due to the strong medical industry and high healthcare expenditure. Advanced and modern medical and ophthalmology facilities with substantially rising lacrimal diseases increase the demand for lacrimal duct stent tubes. Growing per capita healthcare spending and favorable government initiatives for integrated healthcare systems in the U.S. and Canada drive regional market growth. Moreover, the rising number of retinal patients is creating ample opportunities for market players. The U.S. dominated the regional market due to its better regulatory framework for surgical devices and rising awareness among the population for such procedures in lacrimal duct obstruction and related health conditions. The industry players possess well-established direct channel collaboration with hospitals and ophthalmology clinics to cater to their patients effectively. Besides, the companies have strategized acquisitions with well-known clinics and hospitals to expand their business operation in North America.

Competitive Landscape:

The lacrimal duct stent tube market is moderately competitive, with the presence of regional and global players. Some global market players include FCI Ophthalmics, Kaneka Medical America LLC, Gunther Weiss Scientific Glassblowing Co., Inc., Aurolab, and Beaver-Visitec International, Inc, among others. The major players are implementing various growth strategies such as acquisitions, product innovation, and expansion, contributing to the lacrimal duct stent tube market's growth globally. In February 2021, FCI Ophthalmics Announced the Availability of LacriJet for Monocanalicular Nasolacrimal Intubation. LacriJet was launched in the United States. According to FCI Ophthalmics, it is the first self-retaining monocanalicular nasolacrimal intubation preloaded on a single-use injector. It consists of a single-use injector handpiece into which a silicone tube is preloaded inside a metallic probe. It has been specifically designed to reduce operating time during intubation and removal of the device. It is indicated for epiphora, congenital nasolacrimal duct obstruction (CNLDO), and canalicular laceration. In June 2020, Kaneka Corporation completed a partnership with Rohto Pharmaceutical Co., Ltd. This partnership helped to grow the business of lacrimal duct tubes. Both companies worked together to increase the sales of the product.

COVID-19 Impact: Negative impact on the global lacrimal duct stent tube market.

The nasal tissues have demonstrated the shedding of the SARS-CoV-2 virus, and nasal interventions are potential aerosol generators. It increases the risk of viral exposure from aerosols or droplets for lacrimal surgeons and optometrists. This risk can be further compounded by the face-to-face position with the patients during surgery or examination, possible coughing, and sneezing caused by the surgical procedures, thus risking medical practitioners' lives. The cancellation of non-urgent and elective lacrimal surgical procedures affects the lacrimal duct stent market.

The global lacrimal duct stent tube market report would provide an access to approximately 50 market data tables, 40 figures and 170 pages