Lacrimal Device Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2027 - Medtronic, Stryker, Smiths Group, ConMed

The Lacrimal Device Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Lacrimal Device Market Size is Projected to Reach at a CAGR of 5% during 2021-2027.

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Market Overview:

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
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.

Top Leading Companies:

Braun, Cook Group, Medtronic, Stryker, Smiths Group, ConMed, Hill-Rom Holdings

Recent Development:

Medtronic has acquired 60 companies, including 14 in the last 5 years. A total of 15 acquisitions came from private equity firms. It has also divested 4 assets. Medtronic’s largest acquisition to date was in 2014 when it acquired Covidien for $42.9B. Its largest disclosed sale occurred in 2017 when it sold Medtronic - Patient Care Deep Vein Thrombosis & Nutritional Insufficiency Businesses to Cardinal Health for $6.1B. Medtronic has acquired in 14 different US states, and 8 countries. The Company’s most targeted sectors include medical products (88%) and healthcare services (8%). Medtronic is a global medical technology company whose products aim to alleviate pain, restore health, and extend life. Medtronic serves hospitals, physicians, clinicians, and patients in approximately 160 countries worldwide. Medtronic was founded in 1949 and is based in Dublin, Ireland with its operational headquarters in Fridley, Minnesota.

Stryker has acquired 45 companies, including 21 in the last 5 years. A total of 16 acquisitions came from private equity firms. It has also divested 4 assets. Stryker’s largest acquisition to date was in 2019 when it acquired Wright Medical Group N.V. for $5.4B. Its largest disclosed sale occurred in 2007 when it sold Physiotherapy Associates to Wind Point Partners for $150M. Stryker has acquired in 20 different US states, and 10 countries. The Company’s most targeted sectors include medical products (75%) and healthcare services (15%). Stryker is a medical technology company. Stryker's products include implants used in joint replacement and trauma surgeries; surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment; neurosurgical, neurovascular and spinal devices; as well as other medical device products used in a variety of medical specialities. Stryker was formed in 1941 and is based in Kalamazoo, Michigan.

Lacrimal Device Market Segmentation by Type:

Lacrimal Cannula
Lacrimal Dilator
Others

Lacrimal Device Market Segmentation by Application:

Hospitals
Ophthalmic Clinics
Ambulatory Surgical Centers
Others

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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. An increase in understanding of the safe treatment of lacrimal gland tumours among individuals is estimated to propel the market. Furthermore, the involvement of major industry players has significantly boosted the market in North America.

Regional Lacrimal Device Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Lacrimal Device Market Report:

Detailed overview of Lacrimal Device Market
Changing the Lacrimal Device market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Lacrimal Device market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Lacrimal Device Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Lacrimal Device Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Lacrimal Device industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

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