Bicanalicular Lacrimal Duct Stent Tube Holds Nearly 3/4th Share
Bicanalicular lacrimal duct stent tubes continue to be top-selling owing to their easier usability, improved patient compliance, material compatibility, and better clinical outcomes. Bicanalicular lacrimal duct stent tubes represent nearly 75% share of global market value which would be a continuing trend in the market through 2029.
Further, monocanalicular lacrimal duct stent tubes, though have been observing a healthy adoption rate in the recent past, will see subsequent decline in sales during the foreseeable period.
North America and East Asia at Forefront
The growth of healthcare industry has been inflating in developed regions that are embracing a value-centric business model. This is bolstering the adoption of lacrimal duct stent tubes in developed regions such as North America, which accounted for around 46% revenue share in global market. On the back of rising per capita healthcare spending and numerous government initiatives for integrated healthcare systems in the region, East Asia also remains a key contributor to the global market value. Furthermore, the swelling patient pool for retinal diseases in both the regions is again attracting stakeholders’ investments.
?Gaining Competitiveness with Product Innovation and Promotional Activities
Manufacturers must focus on product innovations for lacrimal duct stent tubes. For instance, FCI Ophthalmic developed a complete line of BIKA stents - BIKA, BIKA for DCR, and Infant BIKA - covering a range of sizes that will be helpful in treating most of the congenital nasolacrimal duct obstruction (CNLDO) and dacryocystorhinostomy (DCR) cases. Market players should also raise awareness among healthcare professionals about the benefits of devices for nasolacrimal duct obstruction management via promotional activities in order to reap significant returns.
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How Growth will Unfold
By capturing a market share of around 50% throughout the period of projection, hospitals are slated to remain the prominent end-users of lacrimal duct stent tubes. As lacrimal duct stent tubes along with DCR procedure are minimally invasive, their adoption across hospitals has promisingly increased.
Moreover, outpatient clinics such as ophthalmic clinics and ambulatory surgical centers (ASC) are showcasing rapid adoption of lacrimal duct stent tubes, which are again garnering manufacturers’ attention.
FREQUENTLY ASKED QUESTIONS ABOUT LACRIMAL DUCT STENT TUBE MARKET
Which region is expected to lead in terms of revenue in lacrimal duct stent tube market?
North America remains most lucrative region in terms of revenue and is anticipated to grow at an impressive rate during the forecast period. India, China, and Brazil are expected to be targeted geographies for incremental opportunity for regional and major players.
Which product segment would be most attractive for investments?
Bicanalicular lacrimal duct stent tube emerged as the attractive segment by product type representing 3/4th of revenue share in the lacrimal duct stent tube market. Easier usability, improved patient compliance, material compatibility of bicanalicular lacrimal duct stent with patient without causing any adverse reaction are key pointers in driving growth of the segment.
Which end users would contribute maximum revenue during the forecast period?
Hospitals are expected to hold half of the total market revenue share during the forecast period. Ophthalmic clinics are anticipated to be second most attractive segment owing to increase in number of surgeries and number of cases related to nasolacrimal duct obstruction.
Who are the major players in the lacrimal duct stent tube market?
FCI Ophthalmics, Kaneka Corporation are the key players in the lacrimal duct stent tube market. New product development is the key strategy folowed by these players. Effective marketing strategy among ophthalmologists and cost effectivity are other criterias that manufacturers are competing on.
What complications associated with stent tubes are hampering market growth?
Corneal abrasion is the most common complication encountered during treatment procedure. To overcome this complication, manufacturers in the lacrimal duct stent tube market are focusing on altering the length of stent, material used for manufacturing, etc. The process still has risk of complications, considering the age group in which stenting is carried out. These complications may hamper the potential growth of the market.
LACRIMAL DUCT STENT TUBE MARKET TAXONOMY
The global lacrimal duct stent tube is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Monocanalicular Lacrimal Duct Stent Tube
- Bicanalicular Lacrimal Duct Stent Tube
- Ophthalmic Clinics
- Ambulatory Surgical Centers
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Asia (MEA)