Nasal Implant Market size is likely to register remarkable growth rate during the forecast period i.e., between 2024-2036.
The growth of the market can be attributed to the increasing number of patients with sleep apnea and sinus. It is estimated that there are more than 101 million people are suffering from sleep apnea. Sleep apnea patients are increasing aggressively due to the rise in the number of people with obesity, high blood pressure, diabetes, and hormonal disorders. The continuous skyrocketing number of patients with sleep apnea conditions is estimated to boost the global market growth during the forecast period. Moreover, the cases of chronic rhino sinusitis (CRS) are surging worldwide. A report promulgated by World Allergy Organization states that the prevalence of chronic rhino sinusitis is about 8.4% in Korea, 8% in China, 12% in the USA, and 11% in Europe. On account of soaring cases of chronic rhino sinusitis, the global market is projected to grow significantly during the forecast period. Apart from this, obese people are more likely to develop disorders such as sleep apnea and chronic rhino sinusitis (CRS), which is the reason the global market is anticipated to grow remarkably during the forecast period. A report published by World Obesity Federation predicts that 1 billion people will be living with obesity by 2030. Additionally, the increasing demand for cosmetic procedures is also projected to propel the global nasal implant market growth during the forecast period.
Growth Drivers
Rising Population with Sleep Apnea
Challenges
Prevalent Fear about Surgical Procedures amongst People
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2023 |
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Forecast Year |
2024–2036 |
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The market is segmented by end-user into hospitals, ambulatory surgical centers, and clinics. Out of these, the hospital segment is anticipated to hold the largest share in the global nasal implant market during the forecast period on account of the plethora of patients. Hospitals are equipped with proficient doctors and advanced types of machinery, which is the reason the global market is estimated to witness promising growth in the hospital sub-segment.
Our in-depth analysis of the global market includes the following segments:
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End-User |
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Regionally, the nasal implant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. The market in North America is likely to account for largest revenue share by 2036, on the back of presence of ultra-modern healthcare infrastructure. Furthermore, the data released by the Centers for Disease Control and Prevention states that 28.9 million adults are diagnosed with sinusitis. Additionally, according to a survey report published by the American Academy of Facial Plastic and Reconstructive Surgery, out of 1.4 million surgical and non-surgical aesthetic procedures, rhinoplasty (62 %) is amongst the top performed procedures on women. It also states that rhinoplasty is the most common procedure performed amongst patients under age 34. By the reason of the increasing popularity of rhinoplasty the global nasal implant market is estimated to grow during the forecast period.
Furthermore, the Asia Pacific region is also estimated to offer lucrative opportunities for the growth of the market during the forecast period. The region is highly populous and governments are investing a humongous budget in the healthcare infrastructure. According to the data released by United Nations Population Fund, the Asia and the Pacific region consists of 60% of the world’s population. On the back of this, the global nasal implant market is anticipated to grow during the forecast period.
March 2, 2022: Trivitron Healthcare has acquired the complete shareholding of USA based company The Kennedy Company, manufacturer of radiation protection X-ray shielding material and acoustic barrier products.
Author Credits: Radhika Pawar
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