Punctal plug device is a small biocompatible device made of materials such as silicone or collagen, resembling a plug, used to treat dry eye syndrome. It helps to retain natural tears on the surface of the eye by blocking the discharge of tears, thereby increasing eye hydration and alleviating symptoms related to dry eye syndrome, such as irritation, redness, and burning sensation. This device is non-invasive therapy, easy to install, and can be removed at any time.
Overview of Market Development
In recent years, with the increasing number of patients with dry eye syndrome, the market for punctal plug devices has shown a steady growth trend. According to our research data, the estimated revenue scale of the global punctal plug device market in 2024 is $59.87 million, an increase of 6.38% compared to 2023, and is expected to continue to increase to $80.81 million by 2029. The CAGR for 2024-2029 is estimated to be 6.18%.
Segmented Market Analysis
From the perspective of product types, punctal plug devices can be divided into temporary punctal plug devices and permanent punctal plug devices to meet the treatment needs of different patients. Research shows that temporary punctal plug devices dominate the market, with an expected market share of 65.21% by 2024.
From an application perspective, the market can be segmented into hospitals and clinics. Among them, the hospital segment market dominates, with an estimated market share of 62.30% in 2024.
Global Punctal Plug Device Market Revenue Forecast and Market Segment Analysis
Source: www.globalmarketmonitor.com
Analysis of Market Competition Pattern
From the perspective of market competition, the concentration of the global punctal plug device market is moderate. According to the data, the total revenue of the punctal plug device market for the top 3 companies in 2023 was $22.88 million, with a total revenue share of 40.66%. The top three companies were Katena Products (EagleVision), Surgical Specialties Corporation, and Beaver Vistec International. In 2023, these three companies accounted for 16.06%, 12.96%, and 11.64% of the global market revenue for punctal plug devices, respectively.
Punctal Plug Device Market Revenue and Revenue Share of Top3 Companies in 2023
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Companies
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Market Revenue (Million USD)
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Revenue Share
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Katena Products (EagleVision)
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9.04
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16.06%
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Surgical Specialties Corporation
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7.29
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12.96%
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Beaver-Visitec International
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6.55
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11.64%
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Top3 Companies
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22.88
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40.66%
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Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Punctal Plug Devices Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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