LONDON--(BUSINESS WIRE)--The global nasal implants market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
The prevalence of medical conditions such as polyps, cancer, chronic sinusitis, and non-allergic rhinitis is increasing globally. According to the CDC, in 2017, around 30.80 million adults were diagnosed with sinusitis in the US. Sinusitis can occur due to various reasons such as polyps, deviated septum, or other structural problems. People having sinusitis due to deviated septum opt for nasal implants with drug-eluting stents such as SNUVA sinus implant. Further, there is a high demand from people for improving their aesthetic appearance. Thus, the growing number of ENT-based medical conditions and the rising adoption of cosmetic surgery for aesthetic reasons will increase the demand for nasal implants during the forecast period.
As per Technavio, the development of biodegradable nasal implants and nasal dressings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global nasal implants market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global nasal implants market: Development of biodegradable nasal implants and nasal dressings
The conventional nasal implants have various disadvantages such as headache/pressure, nasal airway obstruction, pharynx dryness, and sore mouth due to prolonged oral breathing. As a result, many companies are coming up with biodegradable or absorbable biomaterial nasal packing. Vendors are developing products with bioresorbable materials that can absorb drainage and bleeding during or after nasal surgery, which help in preventing adhesions by effectively stenting mucosal tissue structures. Thus, the development of biodegradable nasal implants and dressings will increase their adoption due to fewer disadvantages associated with them. This will drive the overall market growth during the forecast period.
“A large number of vendors in the market are focusing on improving product portfolio to attract end-users. As a result, they are forming strategic alliances to advance their product development. Thus, the expansion of product portfolio and growing demand for nasal implants for improving aesthetic appearance will drive market growth during the forecast period,” says a senior research analyst at Technavio.
Global nasal implants market: Segmentation analysis
This market research report segments the global nasal implants market by end-user (hospitals and clinics, and ambulatory surgical centers (ASCs)) and geographic regions (North America, Europe, ROW, and Asia).
The hospitals and clinics segment held the largest nasal implants market share in 2018. The growth of the hospitals and clinics segment is driven by the growing adoption of rhinoplasty and sinusitis procedures in multispecialty hospitals.
The North America region led the market in 2018, followed by Europe, ROW, and Asia respectively. The market growth in North America can be attributed to the increasing number of patients with chronic sinusitis, and the growing adoption of drug-eluting nasal implants.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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