New Study: The Nasal Splints Market Enhancement in Various Sector 2023 to 2030 Market Will Radically Change Globally in Next Eight Years | Olympus Corporation, Medtronic, Stryker

Market Overview:

Global nasal splints market size is estimated to be valued at US$ 2.79 Bn in 2023 and is expected to reach US$ 3.45 Bn by 2030, exhibited a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030. Nasal splints are medical devices used internally or externally in the nasal cavity after surgery or trauma injury to aid healing and support the nasal passages and structures. They come in various sizes and designs made from materials such as silicone, latex or plastic.

Market Dynamics:

The growth of the nasal splints market is driven by the increasing number of nasal injuries due to accidents and trauma cases globally. According to the World Health Organization (WHO), road accidents caused around 1.3 million deaths annually across the globe. Facial bone fractures are common in road traffic accidents and around 50-60% of them involve nasal fractures. Immediate treatment of nasal fractures involves closed reduction and stabilization with the help of nasal splints to support the internal nasal valve and nasal bones as they heal. Additionally, rising number of nasal surgeries like septoplasty, functional endoscopic sinus surgery (FESS) for conditions like deviated septum and chronic sinusitis also require nasal splints post operatively, thus boosting adoption.

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Major companies are:

✤ Olympus Corporation
✤ Medtronic
✤ Stryker
✤ Smith & Nephew.
✤ Summit Medical
✤ Surgiform
✤ Mentor Worldwide LLC (Johnson & Johnson), Intersect ENT Inc.
✤ Cook Medical
✤ Network Medical Products Ltd

Market Drivers for Nasal Splints Market

Rising Prevalence of Nasal Injuries

Nasal injuries are quite common with increasing participation in contact sports and road accidents. It is estimated that nasal fractures account for around 45% of all facial bone fractures. Nasal splints play a crucial role in post-operative care and healing of nasal fractures. They help stabilize and support the fractured nasal bones and cartilage to allow proper alignment during recovery. With rising number of nasal injuries, the demand for nasal splints is also increasing steadily.

Growing Number of Rhinoplasty Procedures

Cosmetic rhinoplasty or nose reshaping surgery is a very popular cosmetic procedure globally. The procedure aims to improve the appearance, proportion or symmetry of the nose. Nasal splints are commonly placed after rhinoplasty surgery to stabilize and protect the nasal bones and cartilage during healing. They help maintain the shape achieved during surgery. The growing cosmetic consciousness and improving economic conditions have boosted the rhinoplasty market worldwide. This is positively impacting the sales of nasal splints.

Market Restrain for Nasal Splints Market

Risk of Improper Placement

Nasal splints need to be properly sized and placed in the nose post-procedure for optimum results. Any error in placement can lead to complications like infection, improper healing or need for removal and reinsertion. Poor placement can also distort the shape achieved during surgery. Lack of adequate training and skills among healthcare staff placing the splints poses the risk of improper placement. This can negatively impact market growth to some extent.

Market Opportunity for Nasal Splints Market

Development of Absorbable Nasal Splints

Traditional nasal splints made of plastic or silicone need manual removal after healing which can be painful and disturbing for patients. Researchers are working on developing fully absorbable nasal splints made of polymers or biocompatible materials. These splints will dissolve gradually in the nasal cavity eliminating the need for removal. Absorbable splints can provide better patient comfort and compliance. Their adoption can open new opportunities in the nasal splints market.

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Key Questions Answered In The Report:

• Which regional market will experience the greatest and most rapid growth?

• Who are the top five Market players?

• How will the Market evolve over the next six years?

• What application and product will dominate the Market?

• What are the market drivers and constraints for Nasal Splints Market?

• What will be the Market's CAGR and size during the forecast period?

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