New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nasal Splints Global Market Report 2023" - https://www.reportlinker.com/p06277204/?utm_source=GNW
The global nasal splints market will grow from $6.25 billion in 2022 to $6.9 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The nasal splints marke is expected to grow to $9.68 billion in 2027 at a CAGR of 8.8%.
The nasal splints market consists of sales of instruments such as malleable nasal splints, airway nasal splints, and bivalve nasal splints.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Nasal splints are devices meant specifically to fit into or on the nose for providing support following nasal surgery.Nasal splints include intranasal splints and external nasal splints.
Intranasal splints are placed into the nose and are used to maintain septal stability and prevent intranasal adhesions following septal surgery. External nasal splints are placed on the outer part of the nose and used to prevent the nose from moving following rhinoplasty or nasal contouring procedures.
Asia Pacific was the largest region in nasal splints market in 2022.North America was the second-largest region in the nasal splints market.
The regions covered in the nasal splints market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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.
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.
The nasal splints market was limited by a shortage of skilled surgeons and other professionals in most developed and developing countries.Equipment fabrication and integration require specialized skillsets relating to nasal surgeries, and electronics and software.
According to a survey conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), in the Middle Eastern countries such as Iran, there were only 238 surgeons to perform 37,423 nose jobs.The specialized skillsets relating to nasal surgeries are available to a limited number of organizations, most of which are located in the USA and Europe.
This shortage of skilled surgeons and other professionals is a significant deterrent to the growth of 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 countries covered in the nasal splints market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The nasal splints market research report is one of a series of new reports that provides nasal splints market statistics, including nasal splints industry global market size, regional shares, competitors with a nasal splints market share, detailed nasal splints market segments, market trends and opportunities, and any further data you may need to thrive in the nasal splints industry. This nasal splints market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06277204/?utm_source=GNW
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