PUBLISHER: The Business Research Company | PRODUCT CODE: 1387731
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387731
“Nasal Splints Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nasal splints market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nasal splints? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The nasal splints market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Nasal splints are specialized devices created to offer support and stability after nasal surgery. Intranasal splints are inserted into the nasal passages to maintain septal stability and prevent the formation of intranasal adhesions after septal surgery. On the other hand, external nasal splints are applied to the outside of the nose to immobilize and protect it following rhinoplasty or nasal contouring procedures.
The key types of nasal splints on the market include malleable nasal splints, airway nasal splints, and bivalve nasal splints. Bivalve nasal splints are specifically designed to provide support to the septum and minimize or prevent adhesions between the septum and the lateral nasal wall that might occur post-surgery. Nasal splints find applications in various medical fields, such as plastic surgery, rhinological operations, and ear, nose, and throat (ENT) surgery. These devices are utilized by a variety of end-users, including hospitals, clinics, home care providers, and research centers.
The nasal splints market research report is one of a series of new reports from The Business Research Company that provides nasal splints market statistics, including nasal splints industry global market size, regional shares, competitors with a nasal splints market share, detailed nasal splints market segments, market trends and opportunities, and any further data you may need to thrive in the nasal splints industry. This nasal splints market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nasal splints market size has grown strongly in recent years. It will grow from $6.87 billion in 2023 to $7.54 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%.
The growth observed during the historic period in the nasal splints market can be attributed to several key factors, including the need for postoperative recovery support, the treatment of trauma and fractures, the performance of rhinoplasty procedures, and efforts to enhance patient comfort and overall surgical outcomes.
The nasal splints market size is expected to see strong growth in the next few years. It will grow to $10.68 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The expected growth in the forecast period in the nasal splints market can be attributed to various factors, including the adoption of minimally invasive surgical techniques, the expansion of emerging markets, regulatory support, and the integration of telehealth and remote consultation services. Noteworthy trends anticipated during the forecast period encompass the use of advanced materials in nasal splint design, the development of customized solutions to meet individual patient needs, the integration of digital health technologies, and a focus on sustainable and eco-friendly practices in the manufacturing and use of nasal splints.
Rhinoplasty stands as one of the most frequently performed reconstructive cosmetic surgeries worldwide. In the year 2021, Rhinoplasty accounted for 62% of the procedures conducted on women and a significant 79% of the procedures on men. Following these procedures, intranasal splints are employed as a post-operative measure to support hemostasis, provide structural support, and minimize scar formation. Given the increasing numbers of rhinoplasty surgeries and the widespread use of nasal splints for post-operative care, the nasal splints market is expected to experience growth.
The growing demand for minimally invasive procedures is anticipated to be a driving force behind the expansion of the nasal splints market. Minimally invasive treatments entail medical interventions that aim to achieve therapeutic or diagnostic outcomes with minimal disruption to the body's tissues and structures. Nasal splints play a pivotal role in many minimally invasive nasal procedures. They assist in supporting nasal tissues, maintaining the desired shape of the nose or sinuses, and promoting healing. For instance, in January 2023, data from Intuitive Surgical Inc., a US-based manufacturer of robotic products, revealed a noteworthy 18% increase in surgical procedures performed using the Vinci Surgical System, totaling approximately 1,875,000 procedures, as compared to around 1,594,000 procedures in 2021. Therefore, the surging demand for minimally invasive procedures is a key factor fueling the growth of the nasal splints market.
The nasal splints market has been hindered by a scarcity of skilled surgeons and professionals in many developed and developing countries. The fabrication and integration of equipment require specialized expertise in nasal surgeries, electronics, and software. As indicated by a survey conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), some Middle Eastern countries, like Iran, had just 238 surgeons available to perform 37,423 nose jobs. Specialized skillsets related to nasal surgeries are predominantly concentrated in a limited number of organizations, with most of them situated in the USA and Europe. This shortage of skilled professionals constitutes a significant impediment to the market's growth.
Nasal splints constructed from biodegradable materials have been gaining traction in the industry due to their unique properties. These materials, which include plant-based and bioresorbable materials, aid in controlling bleeding after surgery or nasal trauma. They eliminate the need for the painful removal of nasal packing for patients and serve as an adjunct to assist in the natural healing process. For example, Smith & Nephew offers a dissolvable nasal splint called Nasastent, composed of plant-based carboxymethyl cellulose. This splint provides support to the soft nasal tissue, applies pressure to prevent bleeding, and ultimately transforms into a hydrocolloidal gel after absorbing nasal fluid, which drains naturally from the patient. Several other companies, such as Hemostasis LLC and Medtronic, also offer biodegradable nasal splints. As per the US FDA, nasal splints are classified as Class I medical devices exempted from premarket notification. However, nasal splint manufacturers are required to register their establishment and list the generic category or classification name.
Major companies operating in the nasal splints market are committed to developing innovative products, including rinastent, bioresorbable nasal splints designed for use in nasal surgeries. These bioresorbable nasal splints are engineered to prevent the movement of the septal flap and reduce postoperative bleeding. For instance, in December 2021, Stryker Corporation, a US-based medical technology company, introduced the rinastent bioresorbable nasal splint for use in nasal surgeries. Rinastent is constructed from biodegradable polyurethane foam that gradually disintegrates within several days and naturally drains from the nasal cavity via mucous flow. Stryker's bioresorbable nasal packing products are available in various sizes, with different fragmentation times, compression strengths, and hemostatic properties to ensure a comfortable post-operative experience for patients.
Major companies operating in the nasal splints market include Boston Medical Products Inc., Innovia Medical, Medtronic PLC, Olympus Corporation, Smith & Nephew PLC, DTR Medical, Mentor Worldwide LLC, Network Medical Products Ltd., Summit Medical Group, Surgiform Technologies LLC, Shippert Medical Technologies, Spiggle & Theis Medizintechnik GmbH, Stryker Corporation, Acclarent Inc., Cook Medical, KARL STORZ SE & Co. KG, Integra LifeSciences, Medline Industries LP, B. Braun Melsungen AG, Merit Medical Systems, Intersect ENT, ArthroCare Corporation, Lumenis, ConMed Corporation, DePuy Synthes Companies, Zimmer Biomet, KLS Martin Group, Becton Dickinson and Company, Terumo Corporation, Johnson & Johnson, 3M, Teleflex Medical OEM
Asia-Pacific was the largest region in global nasal splints market in 2023. North America was the second-largest region in the nasal splints market. The regions covered in the nasal splints market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the nasal splints market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The nasal splints market consists of sales of instruments such as malleable nasal splints, airway nasal splints, and bivalve nasal splints. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.