Absorbable punctum plugs are also referred as tear lacrimal plug or punctal occluders. Absorbable punctum plugs majorly used for the treatment of dry eye. Absorbable punctum plugs is a tiny device which is inserted into the teat duct of an eye. The insertion of Absorbable punctum plugs in the tear duct, blocks the opening of duct which prevents the drainage of liquid from eye. This ultimately increases eye’s tear films which mist the surface of the eye to relieve the dry eyes. Absorbable punctum plugs are widely accepted device for the treatment of dry eyes though it is safe, painless, quick and completely reversible. Absorbable punctum plugs are temporary plugs which are initially recommended by the doctor to observe, how a patient with dry eye react to this treatment method. Absorbable punctum plugs are made up of collagen material, hence it dissolves naturally in the human body. If a patient body reacts well for absorbable punctum plugs then the doctor may prescribe them for permanent punctum plugs which are made up of silicon or acrylic.
Rising patent pool suffering from dry is the key factor propelling the revenue growth of absorbable punctum plugs market over the forecast period. Absorbable punctum plugs are preferred as the first line of treatment for dry eyes, hence the demand for absorbable punctum plugs will increase rapidly over the next decade. Moreover, absorbable punctum plugs are a completely safe and reversible option for the treatment of dry eyes which has also increase the demand for absorbable punctum plugs in the global market. Also, increasing advancement in design and technique; and availability of absorbable punctum plugs in different sizes as per patient has propelled the growth of absorbable punctum plugs market. There are few drawbacks associated with absorbable punctum plugs market such as irritation of after insertion, and formation of biofilm which may deter the growth of absorbable punctum plugs market. Also, lack of availability trained ophthalmic specialist to insert the absorbable punctum plugs within the eye may lead to sluggish growth of absorbable punctum plugs market.
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The global absorbable punctum plugs market is classified on the basis of size, sterility, distribution channel and region.
Based on size, absorbable punctum plugs market is segmented into the following:
- Extra Small
Based on sterility, absorbable punctum plugs market is segmented into the following:
Based on distribution channel, absorbable punctum plugs market is segmented into the following:
- Institutional Sales
- Ophthalmic Clinics
- Retail Sales
- Retail Pharmacies
- Online Pharmacies
Rising prevalence of dry eye is the key factor behind the significant growth of absorbable punctum plugs market throughout the globe. According to Journal of Ophthalmology, 25% of patient visiting ophthalmic clinics are diagnosed with dry eye. Journal of Ophthalmology also stated that around 8% of global population are suffering from dry eye in 2016. Sterile absorbable punctum plugs are more proffered by the patients, hence sterile segment by sterility is dominant segment for absorbable punctum plugs market. Also, patient prefers to buy the absorbable punctum plugs market directly from hospital or ophthalmic clinic, hence institutional sales segment will gain majority of revenue share by distribution channel for absorbable punctum plugs market.
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Among the regional presence, North America is the lucrative region for absorbable punctum plugs market which is then followed by Europe. North America registers to be the leading revenue generating segment due to the rising adoption of absorbable punctum plugs in U.S. and Canada. North America and Europe cumulatively account for a substantial revenue share in absorbable punctum plugs market. However, due to high prevalence of dry eye India and China is the key factor behind the robust the growth of absorbable punctum plugs market in South Asia and East Asia region. However, Middle East and Africa are expected to account for being least lucrative market for Absorbable Punctum Plugs due to lack of availability skilled ophthalmic specialist.
Some of the key players across the value chain of Absorbable Punctum Plugs market are BioTeck, Inc., I-MED Pharma Inc., Surgical Specialties Corporation, Lacrimedics, Inc., Beaver-Visitec International, FCI Ophthalmics, Stephens Instruments, Medennium Inc. and others.