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Epistaxis Market: Technological Improvements Steering Growth during 2017-2026 | Key Players are Bristol-Myers Squibb Company, Pfizer Inc., Medline Industries Inc., Smith & Nephew, GlaxoSmithKline PLC, etc.
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Conditions that predispose a person to nosebleeds include dry and less humid weather conditions and increasing prevalence of hypertension. According to World Health Organization (WHO), over 12% of the deaths caused globally are due to hypertension. Incidence of nosebleeds continue to increase with the increasing cases of hypertension. Moreover, prevalence of hypertension in pregnant women leads to increasing blood flow towards the mucous membrane. Such factors continue to rev up demand for the epistaxis products in the global market.
Epistaxis continues to remain a common health problem observed among the adults and children. Impact of extreme weather conditions can lead to crusting of the mucous secretion processes, which can result into cracks in the nose lining. Extreme dryness and heat in the air can result in dry nasal membrane and eliminates the amount of moisture required to be maintained in the nose. Frequent changes in the environmental conditions such as less humid weather and extremely cold winters lead to increasing instances of dry nasal membrane. Dry nasal membrane leads to increasing occurrences of nosebleeds during the hot, cold and dry weather. Increasing incidences of dry nasal membrane and abnormal nosebleeds is expected to boost demand for epistaxis products during the forecast period.
Innovative Surgeries to Underscore Lucrative Growth Opportunities
Manufacturers are focusing on developing epistaxis products that offer improved performance and result. Incorporation of innovation in the epistaxis products has led to more effective and advanced treatment procedures for epistaxis. Innovative treatment procedures include various surgical and non-surgical interventional procedure. Innovative treatment for nasal packing, embolization and warm water irrigation are a few non-interventional surgeries.
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Endoscopic litigation of sphenopaletine artery, maxillary, artery litigation and nasal cauterization are the innovative treatments that include surgical intervention. Adoption of innovative surgeries are significantly changing the trends in the global epistaxis market. Moreover, manufacturers are increasingly focusing on developing epistaxis products for the treatment of patients with special medical conditions such as asthma, pregnancy, diabetes and cancer. These factors are expected to contribute towards growth of the global epistaxis market during the forecast period.
Anterior Indication to Represent a Leading Segment
With the growing incidences of nose cauterization among the children and adults has led to surge in demand for cauterization agents in the global market. On the basis of product type, the cauterization agents segment is expected to represent the highest revenue growth, accounting for a value of over US$ 30 Mn by the end of 2026. On the other hand, the antibiotic ointment product type segment is expected to register a significant CAGR during the forecast period.
Based on distribution channel, the retail pharmacies segment is expected to generate significant revenues, accounting for a value of nearly US$ 20 Mn by the end of 2017. However, the specialty clinics distribution channel segment is expected to register a robust CAGR through 2026.
By indication, the anterior segment is expected to represent a robust revenue growth, recording a value of nearly US$ 80 Mn by the end of 2026. In contrary, the posterior indication segment is expected to register a healthy CAGR throughout the forecast period.
Competition Tracking
Leading market players operating on the global epistaxis market include Bristol-Myers Squibb Company, Ciron Drugs & Pharmaceuticals Pvt. Ltd., Pfizer Inc., Medline Industries, Inc., Smith & Nephew, GlaxoSmithKline PLC and Ferring B.V.
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