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Punctal Occlusion Devices Market to Reach $148.34 Billion by 2031

Punctal Occlusion Devices Market to Reach 8.34 Billion by 2031

InsightAce Analytic Pvt. Ltd. announced the publication of a market assessment report on ” (“https://www.insightaceanalytic.com/report/punctal-plug-cihaz-pazarı/2550)- (By Product Type: Temporary Punctal Occlusion Devices and Permanent Punctal Occlusion Devices; and End User: Hospitals & Clinics)), By Region, Trends, Industry Competition Analysis, Revenue, and Forecast to 2031.”

According to the latest research by InsightAce Analytic, the Global Point Plug Devices Market is valued at USD 73.50 Billion by 2023 and is expected to reach USD 148.34 Billion by 2031, with a CAGR of 9.3% during the forecast period 2024-2031.

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The growth is driven by the increasing number of dry eye patients due to aging population, increased screen time, and environmental factors. The market offers temporary and permanent plugs made of various materials to suit patient needs. Asia Pacific is also expected to witness rapid growth due to similar dry eye factors and increasing access to healthcare. The punctal plug devices market focuses on medical devices used to treat dry eye syndrome by occluding the tear ducts to maintain moisture on the surface of the eye. Market growth is being accelerated by the increasing prevalence of dry eye conditions, increasing elderly population, and advancements in minimally invasive ophthalmic procedures. Key drivers include the increasing demand for effective, long-term treatment options and technological innovations that enhance product efficacy and patient comfort. The market is anticipated to grow rapidly due to increasing awareness and adoption of these devices globally.

List of Leading Players in the Punctal Occlusion Devices Market:

* Innovia Medical
* OASIS Medical, Inc.
* Medennium Inc.
* Corza Eye Diseases
* Zeiss
* British Virgin Islands
* Sunways India Pvt Ltd.
* Lacriver

Market Dynamics:

Drivers:

The increasing prevalence of dry eye syndrome is said to be a major driver. Factors such as digital device use, air pollution, and hormonal changes contribute to the increasing incidence of dry eye cases. Punctal plug devices offer a non-invasive and reversible treatment option for dry eye syndrome, leading to their widespread adoption as a first-line treatment for mild to moderate dry eye cases. Advances in punctal plug designs and materials have improved their efficacy, comfort, and biocompatibility. The development of biodegradable and biodegradable plugs has further expanded the market potential. Increasing awareness of dry eye syndrome and its impact on eye health has led to increased patient awareness and proactive treatment-seeking behavior.

The increasing aging population is a major driving force, as the natural aging process makes older individuals more prone to dry eye syndrome.

Challenges:

Challenges facing the punctal plug devices market include competition from alternative dry eye treatments such as ointments and artificial tears, which are limiting market penetration. Additionally, the risk of complications associated with punctal plug insertion, such as chronic irritation, epiphora, migration, and extrusion, pose concerns for both patients and healthcare providers, affecting adoption rates. Market dynamics such as regulatory hurdles, pricing pressures, and reimbursement issues also pose challenges to the market growth and adoption of punctal plug devices. Moreover, the need for continuous innovation to meet evolving patient needs and preferences adds complexity to the market landscape.

Regional Trends:

In North America, temporary punctate occlusions have emerged as the dominant segment in the punctate occlusion devices market and have held a significant market share during the forecast period. These can be attributed to several factors driving the adoption of temporary occlusions. Temporary punctate occlusions offer a minimally invasive and convenient treatment option for ocular conditions such as dry eye syndrome. Their dissolvable nature eliminates the need for removal procedures, thus improving patient comfort and compliance. Furthermore, Europe and Asia Pacific are the regions that are trailing for significant market share.

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Recent developments:

* In September 2023, OASIS Registered Medical Inc., manufacturer and distributor of SOFT PLUG trademarked eyedrops and Oasis TEARS Preservative-Free Lubricating Eye Drops, introduced new dietary supplements Oasis TEARS Vision Trademark and Oasis TEARS Omega at OASIS Medical’s booth MS6052 at Vision Expo West in Las Vegas, September 19-21.

* Introduced in April 2021, MY OASIS Trademark Facilitates a Unique Approach for Dry Eye Clinics. MY OASIS Trademark is a cyber platform for eye care providers to build their brand as a dry eye resource, expand the reach of their practices, and provide access to solutions that can improve the quality of life for dry eye patients in their local communities.

* In September 2023, Mati Therapeutics Inc., a company developing ocular drug delivery platforms for the treatment of ocular indications, announced that it has completed and acquired a facility dedicated to manufacturing all products formulated on Mati’s proprietary Evolute sustained ocular drug delivery platform. The 10,000 square foot facility is located in Bryan, Texas, and has the capacity to meet all manufacturing needs for both development and commercial purposes in the near future.

* In April 2023, Inverness Graham, a Philadelphia-based buyout firm, announced that it has acquired Innovia Medical, a global manufacturer of branded disposable surgical products and sterile processing systems serving the ENT, ophthalmic, gynecological and aesthetic end markets. The acquisition represents Innovia Medical’s new platform investment for Inverness Graham, joining several existing and past investments in the healthcare space, including Vista Apex, VitalPath, Danville Materials and AdvancedCath.

Punctal Occlusion Devices Market Segmentation

Punctal Occlusion Devices Market – By Product Type

* Temporary Punctal Plugs
* Permanent Point Plugs

Point Plug Devices Market – By End User

* Hospitals
* Clinics

Point Plug Devices Market – By Region

North America-

* United States
* Canada
* Mexico

Europe-

* Germany
* United Kingdom
* France
* Italy
* Spain
* Rest of Europe

Asia Pacific-

* Chinese
* Japan
* India
* South Korea
* Southeast Asia
* Rest of Asia Pacific

Latin America-

* Brazil
* Argentina
* Rest of Latin America

Middle East and Africa-

* Gulf Cooperation Council Countries
* South Africa
* Rest of the Middle East and Africa

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