The Septoplasty Market to bask in the glory of continued innovations

The pharmaceutical industry is making use of AI for discovering new-fangled drugs. January 2020 witnessed the invention of the very first drug molecule using AI, whose patent lay with Japanese and British scientists. The medicine is being used for treating OCD (obsessive-compulsive disorder). Likewise, several promising formulas are being discovered as an outcome of AI-enabled lab experimenting. This would how the Septoplasty Market look in the near future.

Septoplasty is a surgical technique for bone and cartilage straightening that separates the region between two nostrils (septum). When the septum is crooked, it's known as a deviated septum.

Some people are born with a deviated septum, but an injury to their nose may also cause it. There is one nasal passage in most persons with a deviated septum that is much narrower than the other. This can cause breathing problems. Frequent nosebleeds and facial pain can be other signs of a deviated septum. Surgery is the only way for a deviated septum to be replaced.

Septoplasty is one of the most common procedures in the United States for the ear, nose, and throat (ENT).

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The Septoplasty market growth is primarily driven by technological advancement in septoplasty producers. For instances, on sept, 2019, Dr. Aaron Rogers and Specialized Ear Nose & Throat Associates, a leading medical practice in Otolaryngology located in Atlanta, announced more advance techniques in nasal surgery based in the office.

New techniques allow a broad range of corrective nasal surgery to be performed with only limited recovery in the office now. On the other hand, increase with the advent of technologically advanced treatment methods, such as 3D computer assisted techniques, is expected to drive the growth of septoplasty market. Besides, it is expected that increased understanding of facial aesthetics and physical grooming will fuel market development.

Further, increasing prevalence of empty nose syndrome is expected to boost the demand for septoplasty. According to American Society of Plastic Surgeons, up to 80 percent of Americans estimate that the septum, the bone and cartilage that runs up and down the middle of the nose, is off-centered.

However, risk associated with septoplasty such as excessive bleeding, poor healing of incisions and many others are expected to hamper the growth of septoplasty market.

COVID-19 which, originated in the city of Wuhan, Mainland China, has spread aggressively to evolve into a global pandemic involving more than 170 countries. This pandemic has affected lives across the economic, social and political sphere. Treating COVID-19 infected patients is the primary focus of doctors and physicians alike at the moment, as this infection has no available cure.

A breakthrough at this moment have negatively impact on septoplasty manufacturers due to decrease patient pool thereby hampering the growth of septoplasty procedures.

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Septoplasty Market: Segmentation

The global Septoplasty market is segmented on the basis of indication type, based on technique, end user and region.

Based on Indication Type, the Septoplasty market is segmented as:

Deviated Nasal Septum
Correction of Cleft Defects
Enlarged Turbinates
Others

Based on Technique, the Septoplasty market is segmented as:

Closed Septoplasty
Open Septoplasty

Based on End User, the Septoplasty market is segmented as:

Hospitals
Ambulatory Surgical Centers
ENT (Ear, Nose, And Throat Specialists)
Others

Based on the indication, deviated nasal septum is expected to increase the demand for septoplasty. This is due to for some people it is present at birth and other factors such as caused by an injury which include playing contact sports, not wearing seat belt while riding in a motorized vehicle and many others.

Based on the technique, the open septoplasty market is expected to show a robust growth over the market forecast, due to more precise diagnosis of septal deviation, improved visualization of the contributing factors, avoidance of mucosal tears, and visualization of the surgical fields for residents and operating room personnel are the benefits of using an open septoplasty technique.

Based on end user, the hospital segment is expected to hold the major share in terms of revenue during the market forecast, this is due to in most cases, either a hospital or surgical center conducts the procedure as an outpatient also quality health care is offered.

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Globally the Septoplasty market is segmented into seven key regions viz. North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa. North America is expected to be the prominent market followed by Europe for Septoplasty.

This is due to the use of advanced technology, combined with growing customer perception of physical appearance, is projected to drive the growth of the market. For instance, according to the American Society of Plastic Surgeons (ASPS), in 2017, the U.S. topped the list of countries with the world's highest number of cosmetic surgeons.

Asia pacific is likely to witness the fastest growth during forecast period, due to the availability of low cost of procedures and improvements in healthcare facilities, attributed to growing disposable income coupled with medical tourism. China is among the top three countries to have the highest number of cosmetic surgeons, which is around 6.4 percent of the total number of cosmetic surgeons in the world, according to the International Society of Esthetic Plastic Surgery.

Due to the affordability of medical services, the Middle East and Africa are expected to witness lucrative growth over the projected period, due to growing medical tourism.

Septoplasty Market: Key Players

Medtronic plc.
Intersect ENT Inc.
Acclarent Inc.
Olympus Corporation Smith & Nephew plc
Entellus Medical Inc.
dalENT Medical
Jilin Coronado Medical Ltd.
InAccel

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