Press release
Nasal Splints Market Report 2024: Strategies And Recent Developments | Boston Medical Products Inc., Innovia Medical, Medtronic Plc, Olympus Corporation, Smith & Nephew plc
Nasal Splints Market Characteristics
The Business Research Company offers in-depth market insights through Nasal Splints Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 in the historic period can be attributed to postoperative recovery, trauma and fractures, rhinoplasty procedures, improved patient comfort.
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 growth in the forecast period can be attributed to minimally invasive techniques, emerging markets growth, regulatory support, telehealth and remote consultation. Major trends in the forecast period include advanced materials, customized solutions, digital health integration, sustainable and eco-friendly practices.
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Market Segmentation:
The main types of nasal splints market are malleable nasal splints, airway nasal splints, and bivalve nasal splints. The bivalve nasal splints are designed to provide septal support and reduce or prevent adhesions between the septum and lateral nasal wall following surgery. The various applications involved are plastic surgery, rhinological operations, ENT surgery, and others. The various end-users are hospitals and clinics, home care, research centres, and others.
Major Driver - Rhinoplasty Surge In Popularity And Impact On Nasal Splint Market Growth
Rhinoplasty is one of the most commonly performed reconstructive cosmetic surgery across the globe and Rhinoplasty accounted for 62% of the procedures performed on women and 79% of procedures performed on men in 2021. As part of the post-operative procedure, intranasal splints are used to promote hemostasis, structural support and minimize scar formation. Therefore, owing to the rising numbers of rhinoplasty surgery and the use of nasal splints for post-operative care, the market for nasal splints is forecasted to grow.
Competitive Landscape:
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
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Top Trend - Rise Of Biodegradable Nasal Splints: Advantages And Key Players In The Market
Nasal splints made from biodegradable materials are gaining popularity in the industry, as they do not require surgical removal after implantation. The biodegradable materials in nasal splints include plant-based and bioresorbable materials. They help in controlling bleeding after surgery or nasal trauma, eliminating the need for painful nasal packing removal for patients, and act as an adjunct to aid in the natural healing process. For instance, Smith & Nephew offers a dissolvable nasal splint Nasastent composed of plant-based carboxymethyl cellulose that helps to support the soft nasal tissue and provides pressure to prevent bleeding. This implant eventually converts into a hydro colloidal gel after absorbing nasal fluid and drains from the patient naturally. Some of the other companies offering biodegradable nasal splints are Hemostasis LLC., Medtronic and others. As per the US FDA, nasal splints are classified as Class I medical devices that are exempted from premarket notification. However, nasal splint manufacturers must register their establishment and list the generic category or classification name.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nasal Splints Market Characteristics
3. Nasal Splints Market Trends And Strategies
4. Nasal Splints Market - Macro Economic Scenario
5. Nasal Splints Market Size And Growth
…..
27. Nasal Splints Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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