by Market Overview:
Nasal splints are medical devices that are used internally to support the nasal structures after nasal surgeries or trauma injuries. They help in stabilizing fractured nasal bones and promote healing. Common types of nasal splints available in the market include silicon splints, gel splints, chemical/thermal reactive nasal splints. Key applications of nasal splints include treating deviated septum, epistaxis, nasal fracture, and nasal valve collapse.
The Nasal Splints market is estimated to be valued at US$ 138.4 Mn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The Nasal Splints market is primarily driven by the increasing prevalence of nasal injuries and rising number of reconstructive rhinoplasty procedures performed globally. According to the Facial Pain Association, nasal fractures represent approximately 15% of all facial fractures, with nearly 250,000 nasal fractures occurring each year in the U.S. alone. Rising number of road accidents and physical assaults have contributed to the increasing incidence of nasal injuries globally. Moreover, changing lifestyles and increasing focus on aesthetics have boosted cosmetic nasal surgeries driving greater demand for nasal splints during post-surgery recovery period.
Segment Analysis
The global nasal splints market is dominated by the silicone segment owing to its biocompatible properties that make it suitable for post-surgery use. Silicone nasal splints provide support to the nasal structure during recovery periods after surgeries like septoplasty or rhinoplasty. They are flexible, gentle on skin and mucous membranes. Their elasticity allows for easier breathing compared to rigid splints.
PEST Analysis
Political: Regulations regarding use of medical devices vary across regions and countries. Compliance to regulatory normsadds to costs.
Economic: Emerging economies provide scope for market growthdue to expanding healthcare infrastructure and demand for quality care at lower costs.
Social: Rising incidence of sports injuries and nasal fractures and increasing aesthetic procedures for nose shaping spur demand.
Technological: Advanced materials and design of splints for customized patient needs and comfort during recovery. 3D printing allows creation of implants based on nasal structure scans.
Key Takeaways
The Global Nasal Splints Market Size is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing number of rhinoplasty and septorhinoplasty procedures. Nasal splints provide structural support post-surgery and aid healing.
Regional analysis: North America dominates the nasal splints market led by the US owing to high adoption of nasal procedures. Asia Pacific is the fastest growing region with countries like China and India experiencing increasing medical tourism and better access to healthcare.
Key players: Key players operating in the nasal splints market are Olympus Corporation, Medtronic, Stryker, Smith & Nephew. The global leaders are focusing on manufacturing innovative splint designs using advanced materials and technologies for customized fits as well as expanded geographic presence through acquisitions and partnerships with local players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
