InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Punctal Plug Devices Market- (by Product Type: Temporary Punctal Plug Devices, and Permanent Punctal Plug Devices; and End-user: Hospitals, and Clinics)), By Region, Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Punctal Plug Devices Market is valued at US$ 73.50 Bn in 2023, and it is expected to reach US$ 148.34 Bn by 2031, with a CAGR of 9.3% during the forecast period of 2024-2031.
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Growth is driven by a rising number of dry eye sufferers due to aging populations, more screen time, and environmental factors. The market offers temporary and permanent plugs made from various materials to suit patient needs. Asia Pacific is also expected to see rapid growth due to similar dry eye factors and increasing healthcare access. The punctal plug devices market focuses on medical devices used to treat dry eye syndrome by blocking the tear ducts to conserve moisture on the eye surface. The market growth is accelerated by the rising prevalence of dry eye conditions, the increasing geriatric population, and advancements in minimally invasive ophthalmic procedures. Key factors include the growing demand for effective, long-term treatment options and technological innovations enhancing product efficacy and patient comfort. The market is forecasted to grow rapidly due to heightened awareness and increasing adoption of these devices globally.