ID: MRFR/HC/5655-HCR | February 2021 | Region: Global | 90 pages
The nasal splints market size is projected to register a CAGR of 4.0% over the forecast period. The nasal splints are devices that are used to prevent the movement of nasal bones from their respective location after any reconstructive surgery or rhinoplasty to maintain the shape of the nose. Further, it may also avoid other adverse side-effects of the surgery such as nose bleeding and inflammation inside the nostrils. In 2016, it is estimated that the nasal splints market is approximately around 12% of the overall ENT devices market globally. The market was the smallest market in the global ENT devices market in 2016 accounting for about half-a-billion USD.
The prominent factor that are responsible for influencing this market is the growing demand for minimally invasive procedures coupled with the increased adoption of nasal splints accustomed to cosmetic advances. However, factors such as, the stringent regulatory framework for medical devices, and lack of skilled surgeons and other professionals are expected to restrict the market growth during the forecast period.
The nasal splints market is segmented on the basis of type, application, end-users. The market, by type, the market is segmented into malleable nasal splints, airway nasal splints, and bivalve nasal splints. On the basis of application, the market is bifurcated into plastic surgery, rhino logical operations, ENT-surgery, and others. On the basis of end-user, the market is segmented into hospitals & clinics, homecare, research centres, and others.
On the basis of region, the nasal splints market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is sub-segmented into North America and South America. The North American region is further segmented into the US and Canada. The European region is divided into two, namely, Western Europe and Eastern Europe. Western Europe is further classified into Germany, Italy, France, the UK, Spain, and the rest of Western Europe. The Asia-Pacific region is sub-segmented into Japan, China, India, Australia, the Republic of Korea, and the rest of Asia-Pacific. The Middle Eastern and African region is sub-segmented into the United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar, and the rest of the Middle East and Africa.
Some of the key players in the nasal splints market are Network Medical Products (UK), Summit Medical Group (US), Surgiform Technologies LLC (US), Mentor Worldwide LLC (US), DTR Medical (UK), Boston Medical Product Inc. (US), Medtronic plc (US), Olympus Corporation (Japan), Innovia Medical, LLC (US), Smith & Nephew (US), and others.
Regional Market Summary
Global Nasal Splints Market Share (%), by Region, 2017
Sources: Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), US Department of Health and Human Services, National Institutes of Health, Company’s Annual Report
The Americas region dominated the nasal splints market in 2017, owing to the growth in the North America region which is largely attributed to the factors such as the high demand for rhinoplasty due to changing trend for increasing the beauty appeal and aesthetic appearance has further led to fuel the growth of the market.
Europe hoisted as the second largest region for the nasal splints market owing to increasing awareness of disease-causing nasal deformities along with the rise in the number of numerous cosmetic surgeries is are expected to provide this market with lucrative growth opportunities.
Asia-Pacific was projected to be the fastest growing region for the nasal splints market in 2017. The factors attributed to the due to the increasing number of accidentals leading to nasal deformities and advancement in the surgical techniques, further increasing the demand for various diagnostic testing.
The Middle East and Africa holds the least share in the market due to the presence of poor health expenditure and economically diverse countries. However, the market is expected to witness growth due to increasing healthcare programs in the Middle East.
Market Segmentation and Key Market Players
Market of Nasal Splints, by Type:
Market of Nasal Splints, by Application:
Market of Nasal Splints, by End-Users:
Market of Nasal Splints, by Region:
Market of Nasal Splints, by Key Players:
|Market Size||Significant Value|
|CAGR||4.0% (2018 - 2023)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Application, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Network Medical Products (UK), Summit Medical Group (US), Surgiform Technologies LLC (US), Mentor Worldwide LLC (US), DTR Medical (UK), Boston Medical Product Inc. (US), Medtronic plc (US), Olympus Corporation (Japan), Innovia Medical, LLC (US), Smith & Nephew (US)|
|Key Market Opportunities||Strategic collaborations, product launches, strategies undertaken by key players in the market|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Nasal splints market is projected to grow at a 4.0% CAGR between 2018-2023.
The Americas is expected to lead the nasal splints market.
Different end users of the nasal splints market include research centers, homecare, hospitals and clinics, and others.
Increasing use of nasal splints and increasing acceptance of innovative surgical techniques are the key factors driving the nasal splints market.
Lack of skilled professionals may limit the nasal splints market.