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| Nasal Splints Market |
Nasal splints are medical devices that are placed inside the nasal cavity after
surgeries such as septoplasty, nasal fracture correction, rhinoplasty, sinus
surgeries etc. to provide internal support and aid in healing. Made from
materials such as silicone, acrylic or cotton, nasal splints prevent trauma,
stabilize and protect the nasal structures post-surgery. They allow nasal
passages to remain patent for breathing while avoiding collapse or scarring.
Rising number of nasal surgeries due to trauma injuries, deviated septum
corrections and cosmetic rhinoplasties are fueling demand for nasal splints.
The Global Nasal Splints Market is estimated to be
valued at US$ 159.44 Bn in 2024 and
is expected to exhibit a CAGR of 7.8% over
the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Nasal Splints market are AccountancyManager, Aero
Workflow, Adra Accounts, ApprovalMax, EasyCloud Consultants Pvt Ltd, IRIS
Software Group, Nexus1040, I-SPIRIT, Omni Accounts, and Attach Accounting
System. These players are focusing on developing advanced nasal splint designs
and materials to offer improved patient comfort post-surgery.
The Nasal
Splints Market Size is expected to witness several growth opportunities
due to rising medical tourism in Asia Pacific region especially in countries
like India and China. Affordable treatment costs for nasal surgeries is
attracting patients from Western countries. Manufacturers are expanding their
presence in Asian countries to leverage this opportunity.
Major players are also expanding globally especially in developing regions to
tap into the large untapped market. Strategic partnerships and mergers and
acquisitions with local players help achieve faster market penetration. For
instance, in 2023 Adra Accounts partnered with local Nasal Splint distributor
in Africa to supply their latest acrylic nasal splint range and establish
manufacturing unit to serve African market.
Market Drivers
The growing number of trauma cases and nasal bone fractures caused due to
sports injuries and road accidents is a major market driver. It is estimated
that around 1.5 million facial injuries are reported annually in the US alone
out of which majority involve nasal bone fractures requiring stabilizing nasal
splints. Rising health awareness and availability of medical insurance is
encouraging people to opt for corrective nasal surgeries thereby fuelling
demand.
Market Restrains
High cost of newly developed advanced nasal splint designs made from costly
materials may restrain the market especially in price sensitive developing
regions. Lack of awareness about available nasal splint options in remote areas
also poses a challenge for market growth. Concerns over biocompatibility of
certain material used in nasal splints can also limit their adoption. However,
initiatives undertaken by leading players to develop affordable nasal splints
are expected to overcome these restraints.
Segment Analysis
Nasal splints are of mainly four types: Nasal conforms, Nasal splints, Custom-made,
Pre-shaped. Nasal conforms segment holds the largest market share as it
provides overall stability to nose and have maximum contact area with nasal
wall. These splints are made of high-quality medical-grade materials and are
customized as per individual anatomy. They are preferred more over the
pre-shaped splints for effective treatment.
Global Analysis
North America dominates the global nasal splints market due to presence of
major key players, increasing healthcare expenditure, and rising cases of nasal
injuries. The market in Asia Pacific is expected to witness highest growth rate
during the forecast period owing to growing awareness regarding nasal splints,
increasing spending on healthcare services, and expanding medical tourism
industry. China, India, and Japan are emerging as lucrative markets for nasal
splints in Asia Pacific region.
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Splints Market