Tear Duct Plug Market to Rise at CAGR of 9% to Reach US$ 886.6 Million by 2034: Fact.MR Study

The global tear duct plug market is worth US$ 375.6 million in 2024. Additionally, the market is expected to grow at a CAGR of 9% to reach US$ 886.6 million by 2034.

The tear duct plug device market, which offers innovative treatments for eye conditions, including dry eye syndrome, is a significant segment of the overall ophthalmology industry. These small medical devices, inserted into the tear ducts to prevent the passage of tears, have gained popularity since they keep the eye surface moist, thereby alleviating the symptoms of dry eye syndrome.

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Tear duct plugs are small biocompatible devices placed in the tear ducts to obstruct drainage. Tear duct plugs are referred to as punctal plugs or lacrimal plugs. Tear duct plugs diminish dry eye symptoms by maintaining the eye moist and healthy.

Tear duct plugs are an easy treatment for long-term dry eye diseases. Dry eye is a widespread disease in which insufficient moisture and lubrication on the eye surface causes dry eye syndrome.

The alternative medical terms for dry eye are keratitis sicca, keratoconjunctivitis sicca, and dysfunctional tear syndrome. Dry eye symptoms among others include blur, burning, and scratchy sensation. Plugging tear duct plugs obstructs the tear drainage channel found in the inner part of the eye.

Drivers and Restraints

Today, dry eye syndrome is emerging as one of the most frequent complaints in the ophthalmologist's office. Dry eye symptoms are drastically minimized with the application of artificial tears of different viscosities. Tear duct plugs minimize the load of dry eye syndromes, which is likely to be the key driver for the growth of the global market.

The rising geriatric population and rapid growth in technological advances are also anticipated to fuel the growth of the global market, as per the tear duct plug industry outlook.

As per the American Academy of Ophthalmology, it is seen that prevalence of dry eye syndrome rises with age. An estimated 3.2 million women and 1.7 million men over the age of 50 in the United States suffer from dry eye syndrome. Nevertheless, other treatment methods discourage the expansion of the global tear duct plug market.

Regional Outlook

Geographically, the global tear duct plug market is divided into North America, Latin America, Europe, CIS & Russia, Asia Pacific excluding Japan (APEJ), Japan, and the Middle East and Africa (MEA). According to the tear duct plug industry analysis, North America is likely to capture a considerable share of the global market due to the presence of major market players in the region.

This is followed by Europe because of the increasing product innovation and high tear duct plug adoption. Because of the increasing prevalence of eye diseases in potentially high growth nations, manufacturers are also focusing on potentially high growth markets.

Asia Pacific region is believed to be at a significant rate owing to the extensive patient pool as well as the increasing geriatric population. Nevertheless, other regions including Latin America and Middle East and Africa are anticipated to develop at an imperative CAGR throughout the forecast period.

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Key Players
Examples of some of the key players operating in the global market are

Lacrimedics, Inc.
OASIS Medical
Beaver-Visitec International
FCI Ophthalmics Inc.
Surgical Specialties Corporation
Segmentation of the Tear Duct Plug Market Research
· By Product Type :
Silicone
Temporary/Dissolvable
Intracanalicular
· By End User :
Hospitals
Ambulatory Surgical Centers
Ophthalmology Surgery Centers
Others
· By Region :
North America
Western Europe
Eastern Europe
Latin America
East Asia
South Asia & Pacific
Middle East & Africa

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