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The global nasal implants market size is estimated to grow by USD 268.92 million at a CAGR of 5.73% between 2023 and 2028.
Cosmetic surgery tourism initiatives being undertaken by governments have played an essential role in the growth of the healthcare sector across the globe. The crucial treatment areas of focus in cosmetic surgery tourism include cosmetic surgical procedures such as facelifts and rhinoplasty, which involve the increased use of nasal implants in the market. Some of the countries that are gaining popularity for cosmetic surgery tourism initiatives include Costa Rica, Mexico, Singapore, India, Taiwan, Israel, Malaysia, South Korea, Thailand, and Turkey; over the years, these countries have witnessed many cosmetic surgery tourists seeking care for different medical conditions or treatments, including different cosmetic surgical procedures. APAC, which has the highest number of countries with cosmetic surgery tourism initiatives, including India, Malaysia, and Singapore, has seen a large number of people looking for cosmetic surgical procedures such as rhinoplasty that involve the use of nasal implants. Therefore, the global nasal implants market will grow significantly during the forecast period.
Technavio has segmented the market into End-user, Type, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the hospitals and clinics segment will be significant during the forecast period. Patients largely depend on end-users such as hospitals and clinics for the nasal implantation procedure. Growing partnerships between hospitals and clinics, the presence of multispecialty hospitals, the emergence of aesthetic clinics, and medical tourism will boost the growth of the segment, which, in turn, will drive the growth of the global nasal implant devices market.
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The hospitals and clinics segment was valued at USD 371.04 million in 2018. The sales of nasal implants are growing due to the adoption of rhinoplasty and sinusitis procedures in multispecialty hospitals. Furthermore, various clinics are receiving funding for the development of their facilities. In addition, increasing medical tourism for rhinoplasty is resulting in rising demand for hospitals and clinics that can provide this service. Consequently, the growing medical tourism for rhinoplasty, increasing funding for the development of clinics, and growing partnerships between hospitals and clinics are expected to drive the overall market growth during the forecast period.
The biological segment directs to implants made from biological materials such as autografts, allografts, xenografts, and synthetic biological materials. Autografts are tissues taken from the patient's own body, usually from another site on the body, such as the rib or ear cartilage, and are considered highly compatible. Additionally, biological nasal implants are known to have good biocompatibility, promoting tissue integration and reducing the risk of rejection or adverse reactions. Moreover, advancements in tissue engineering and regenerative medicine have contributed to the growth of the biological segment during the forecast period.
Synthetic nasal implants are artificial implants made from materials like silicone, polyethylene, and expanded polytetrafluoroethylene (ePTFE). These implants are widely used to correct deformities, enhance the appearance of the nose, and improve nasal function. One of the key factors driving the growth of the synthetic segment is the increasing preference for non-biological implants. In addition, the rising awareness about cosmetic procedures and the desire for enhanced facial appearances are contributing to the growth of the synthetic segment of the market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Factors such as the increasing number of patients with chronic sinusitis, product launches, and growing adoption of drug-eluting nasal implants will boost the market growth in North America. Furthermore, the presence of global and local nasal implant device market players in the region will boost market growth. Small and medium-sized vendors are focusing on improving awareness about their products at medical conferences, which helps them showcase their products to physicians and healthcare providers. In countries such as Mexico and Costa Rica, the adoption of nasal implants is growing due to medical tourism, which will boost the market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
EON MEDITECH PVT. LTD.: The company offers nasal implant products namely Osseous standard nasal packs that are used in a variety of nasal surgeries such as septoplasty, turbinectomy, and rhinoplasty.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The rising number of medical emergencies is the key factor driving the market growth. Road accidents and injuries sustained by individuals while playing sports are the two major contributors to the rising number of surgeries across the globe, leading to increased adoption of surgical procedures involving facial implants such as nasal implants. These injuries result in dislocations and fractures or facial injuries for which patients must undergo plastic surgery. Rectifying dislocations, regeneration of bones, and repositioning of bones are some of the reasons why patients opt for such surgeries.
Moreover, an increase in the number of injuries sustained in road accidents or sports and recreational activities signifies that the number of patients with fractures, dislocations, or damage to nasal bones is increasing. This, in turn, will lead to higher demand for surgical procedures involving the use of nasal implants to aid in the recovery process, thus driving market growth during the forecast period.
The growing adoption of cosmetic surgeries is the primary trend shaping market growth. The increasing focus of people on their appearance is leading them to opt for cosmetic surgery on various parts of the body. Furthermore, with the growing digitalization, companies are developing certain applications that can help people opt for cosmetic surgery by understanding their issues and answering them. For example, Gengmei is an app developed by Beijing WanmeiChuangyi Technology for answering the questions of people interested in cosmetic surgery.
Furthermore, the increasing number of institutes and growing facilities for cosmetic surgery are also propelling the adoption of these procedures. Therefore, the growing demand and adoption of cosmetic surgeries are going to increase the demand for nasal implants, which will drive the market growth during the forecast period.
Complications and side effects associated with nasal surgery are a challenge that affects market growth. Nose reshaping or rhinoplasty is one of the most common cosmetic surgical procedures. However, the people opting for rhinoplasty are unaware of the risks associated with the procedure. The potential health risks associated with the individual undergoing surgery include numbness, nosebleeds, bursting of small blood vessels under the skin, swelling, nerve damage, damage in the cartilage walls between the nostrils, and hematoma (collection of blood under the skin).
Besides, rhinoplasty also has several side effects. Similarly, bruising is the main side effect observed during rhinoplasty. Furthermore, the swelling observed around the eyes and the nose takes a few months to settle down after the procedure. Thus, the growing number of health and procedural risks associated with nasal surgery are expected to impede the growth of the global nasal implants market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Nasal Implants Market Customer Landscape
The nasal implants market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Nasal Implants Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.73% |
Market Growth 2024-2028 |
USD 268.92 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.85 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, Germany, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
EON MEDITECH PVT. LTD., Gebruder Martin GmbH and Co. KG, Global Consolidated Aesthetics Ltd., GRAND AESPIO INC., Guangzhou Wanhe Plastic Materials Co. Ltd., Implantech Associates Inc., Integra Lifesciences Corp., Johnson and Johnson, Matrix Surgical USA, Medtronic Plc, Micropoint Bioscience Inc., Silimed Industria de Implantes Ltd., Smith and Nephew plc, Stryker Corp., Surgiform Technologies Ltd., Zimmer Biomet Holdings Inc., and KEOSAN Trading CO. Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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