Lacrimal Devices Market by Growth, Regional Overview and Forecast to 2028
The healthcare industry is well versed with the benefits of advanced technologies like 3D printing, which has already made its mark in drug delivery devices and personalized drug development applications
The lacrimal devices market is set to surpass USD 186.4 million by 2028, given the strong potential of the solution to repair and maintain the lacrimal draining system.
Approaches for the management and treatment of dry eyes range from the addition of tears using artificial OTC (over-the-counter) tear solutions to the conservation of naturally produced tears using therapeutic solutions like lacrimal plugs. These devices are essential to preserving the functionality of the lacrimal system, which is an important ophthalmic protective system responsible for keeping the eyes moist and free of foreign particles like dust.
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Ophthalmic disorders like dry eye have become increasingly common health issues worldwide, especially among older adults, which has led to a significant rise in demand for suitable treatment options like lacrimal devices. Dry eyes typically occur due to an imbalance in tear production and drainage.
To sustain this growth, lacrimal devices industry contenders are undertaking various strategic initiatives aimed at improving the scope of lacrimal treatment procedures, three of which are enlisted below:
Innovia Medical’s acquisition of Lacrimedics, Inc.
In recent years, medical device manufacturers across the world are turning their focus toward establishing themselves as globally renowned suppliers of trusted ophthalmic treatment products, mainly through strategic takeover maneuvers.
A notable example of this is Innovia Medical, which acquired Du Pont, Washington-based occlusion therapy producer and distributor Lacrimedics, Inc. in November 2021. The aim behind this acquisition was to boost Innovia’s existing portfolio of ophthalmic treatment devices with the addition of novel solutions like the OPAQUE Herrick Lacrimal Plugs, Dissolvable VisiPlug, and AccuFlo Punctal Occluders, among others. The addition of Lacrimedics’ products would not only bolster Innovia’s already strong portfolio but also give medical professionals and patients better access to comprehensive solutions for occlusion therapy, in turn strengthening its position in the lacrimal devices market.
FabRX, UCL & USC’s development of 3D printed lacrimal plug
The healthcare industry is well versed with the benefits of advanced technologies like 3D printing, which has already made its mark in drug delivery devices and personalized drug development applications. Although still in its developmental phase, the use of 3D printing is gradually gaining traction in the lacrimal devices market as well.
This is evident from the partnership forged between FabRx, UCL (University College London), and USC (Spanish Universidade de Santiago de Compostela) in October 2021 to examine the effectiveness of 3D printed medical devices as a potential treatment alternative for dry eye. As part of this experiment, the team used DLP (digital light processing)-based 3D printing process to produce punctal plugs or lacrimal plugs. These 3D printed plugs, loaded with anti-inflammatory drugs like dexamethasone, were designed to be inserted into the tear duct to block it and prevent drainage of fluid, thus proving to be a suitable alternative method to topical solutions for alleviating dry eye symptoms.
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Ocular Therapeutix, Inc.’s Phase 3 clinical trial to test intracanalicular insert DEXTENZA for AC
With the burden of ailments like allergic conjunctivitis on the rise, the need for effective treatments is a major driving force for the lacrimal devices market expansion. While primary treatment options for the condition involve the use of topical antihistamines or eye drops, the hassle of using these solutions is an addition to physicians’ worries regarding non-compliance are proving to be major challenges. Furthermore, the onset of the COVID-19 pandemic has also made a compelling case in recent years for solutions like physician-administered inserts that minimize a patient’s need to touch their face multiple times a day, a trend that has caught the attention of major biopharma entities.
To illustrate, in April 2020, Ocular Therapeutix revealed topline results from a Phase 3 clinical trial aimed at examining the efficacy and safety of the bioresorbable, intracanalicular insert DEXTENZA for the treatment of AC (allergic conjunctivitis)-induced ocular itching. Demonstrating significant potential as a hands-free therapy for AC, the insert was designed to release corticosteroid dexamethasone to the ocular surface over 30 days.
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