Press release
The global epistaxis market was valued at US$ 130.0 million in 2016 and is expected to witness a CAGR of 5.7% during the forecast period (2017 – 2025).
Epistaxis, also known as nosebleed, occurs due to rupturing of a small blood vessel in the lining of nose, as the interior of the nose is highly delicate and sensitive and could not tolerate certain factors that make them fragile and prone to burst resulting in bleeding. Nosebleeds are common mostly during winter, as more of the upper respiratory infections occur during this season.
In most cases, epistaxis responds effectively to nasal cauterization or nasal packaging or both the treatments. People experiencing recurrent bouts of nosebleeds are usually recommended to undergo surgical options or embolization procedures that are available in the hospitals and ENT clinics. The most common treatment employed on the epistaxis patients is either chemical or electrical cautery. The method is easy to perform, cheap, and does not involve any serious risk. Cauterization refers to a procedure in which a small tissue at the bleeding site is removed or burnt with the help of chemicals such as silver nitrate or mild electric shocks. There are a number of topical applications such as tranexamic acid that is also available in the market that helps to curtail nosebleeds. According to a research article published in International Journal of Otolaryngology in 2015, epistaxis is estimated to affect around 10-12% of the total population of which around 80% patients require medical attention as majority of epistaxis cases are not self-limiting and cannot be resolved due to intervention. Increasing number of cases in nosebleeds are thus expected to foster the growth of global epistaxis market.
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Increasing prevalence of hypertension and change in environment are expected to drive the growth of global epistaxis market
Rising cases of cardiovascular disorders, mainly hypertensive diseases, which are highly susceptible to hemorrhage are the leading causes of epistaxis. According to the Medical Statistics of World Health Organization in 2015, there were approximately 289,000 cases of hypertension recorded among pregnant women. According to the American Pregnancy Organization, the circulatory system expands during pregnancy so as to accommodate the baby. The expansion leads to increase in creation and circulation of blood that may lead to problematic issues and frequent nosebleeds during pregnancy. Thus, the rising number of pregnant women suffering from hypertensive diseases is expected to boost the global epistaxis market. Additionally, rising awareness among public regarding the benefits of medical assistance for frequent bouts of bleeding also support the growth of global epistaxis market. Alongside, rise in the geriatric population, as well as rapid technological development in the healthcare sector, add up to the market growth. However, side effects of cauterization procedures such as chemical allergies and pain, swelling, bruises, and running nose may hinder the market growth.
Key players are involved in research and development for technological advancements and innovation of epistaxis products. For instance, in 2016, Smith & Nephew launched a range of epistaxis devices with RAPID RHINO technology that has a blend of carboxymethylcellulose (CMC) within them exhibiting self-lubricating properties that provide gentle and even compression to the nasal area and helps in the quicker re-conformation of the nasal anatomy. Various similar technological advancements and strategic implementations by emerging and established market players are expected to foster the global epistaxis market growth.
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