Nasal Splint Market by Product and Geography - Forecast and Analysis 2022-2026

The nasal splint market share is expected to increase by USD 595.35 million from 2021 to 2026, and the market’s growth momentum will decelerate at a CAGR of 4.35%.

This nasal splint market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers nasal splint market segmentations by product (intranasal and extranasal) and geography (North America, Europe, Asia, and Rest of World (ROW)). The nasal splint market report also offers information on several market vendors, including ANTHONY PRODUCTS INC., Audio Technologies Srl, Boston Medical Products Inc., EON MEDITECH PVT. LTD., Hemostasis LLC, Hood Laboratories, Innovia Medical Inc., LE MED PTY LTD, Medtronic Plc, Olympus Corp., Razek Equipment, Smith and Nephew plc, Soluvos Medical BV, SPIGGLE and THEIS Medizintechnik GmbH, Surgiform Technologies Ltd., Teleflex Inc., Traumec Health Technology, Vernacare, and ENTPROMED Saglik Urunleri San. Ve Tic. A.S among others.

What will the Nasal Splint Market Size be During the Forecast Period?

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Nasal Splint Market: Key Drivers, Trends, and Challenges

The growing demand for minimally invasive procedures is notably driving the nasal splint market growth, although factors such as lack of awareness about postoperative complications of surgery may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the nasal splint industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Nasal Splint Market Driver

• The growing demand for minimally invasive procedures is one of the key drivers supporting the nasal splint market growth.
• Invasive surgeries are painful and often have critical impacts on the patient. Owing to the growing technological advances, minimally invasive surgeries came into existence.
• People are shifting toward minimally invasive surgeries owing to their advantages, such as less pain, less recovery time, and minimal scars.
• Rhinoplasty is used for the reconstruction of the nose and improves its functions. Postoperative effects of rhinoplasty are often severe. Hence, nasal splints are used to avoid nasal obstructions caused after the surgery. Therefore, the increase in less invasive nasal procedures, in turn, will increase the demand for nasal splints during the forecast period.

Key Nasal Splint Market Trend

• Increasing adoption of nasal splints accustomed to cosmetic advances is one of the key nasal splint market trends contributing to the market growth.
• ENT devices are becoming more advanced and are getting evolved effectively. These cosmetic advances involved in the devices are increasing their adoption rate. 
• External nasal splints are cosmetically pleasing and are easy to apply. The appearance of these splints is made in such a way that the patient can bear them easily for one week, which is the actual time to keep the splint after
• External nasal splints are made of malleable material and lightweight aluminum sheet, internally coated with thin foam, and hence, they can be adjusted as per the nose shape of the patient. Hence, such advances aid in the adoption of these splints, which, in turn, propels the market growth.

Key Nasal Splint Market Challenge

• Lack of awareness about postoperative complications of surgery is one of the factors hindering the nasal splint market growth. 
• A huge percentage of the young generation is opting for rhinoplasty to look good by getting a properly shaped nose. However, the postoperative effects of rhinoplasty are not being taken into consideration.
• Cosmetic surgeons are not providing details about the postoperative effects of rhinoplasty, which, in turn, is making people unaware of their impact.
• The major side effects observed after rhinoplasty surgery are swelling, bruising and bleeding. These side effects vary based on the individual. Hence, the lack of awareness among people about the side effects of the surgery and their solution, such as the usage of nasal splints, negatively impacts the growth of the market.

This nasal splint market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global nasal splint market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the nasal splint market during the forecast period.

Who are the Major Nasal Splint Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• ANTHONY PRODUCTS INC.
• Audio Technologies Srl
• Boston Medical Products Inc.
• EON MEDITECH PVT. LTD.
• Hemostasis LLC
• Hood Laboratories
• Innovia Medical Inc.
• LE MED PTY LTD
• Medtronic Plc
• Olympus Corp.
• Razek Equipment
• Smith and Nephew plc
• Soluvos Medical BV
• SPIGGLE and THEIS Medizintechnik GmbH
• Surgiform Technologies Ltd.
• Teleflex Inc.
• Traumec Health Technology
• Vernacare
• ENTPROMED Saglik Urunleri San. Ve Tic. A.S

 

This statistical study of the nasal splint market encompasses successful business strategies deployed by the key vendors. The nasal splint market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• ANTHONY PRODUCTS INC. - Under the unified segment, the company offers medical equipment, surgical instruments, and medical supplies for ENT, Plastic Surgery, and Dermatology. 
• ANTHONY PRODUCTS INC. - The company offers nasal splints such as API Bivalve Nasal Splints and Breeze Nasal Airway Splints. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The nasal splint market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Nasal Splint Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the nasal splint market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Nasal Splint Market?

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34% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for nasal splint market in North America. Market growth in this region will be slower than the growth of the market in Europe and Asia.

The advanced healthcare infrastructure in the region and initiatives taken by the government to reduce hospital expenditures and hospital stays will facilitate the nasal splint market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 adversely affected the regional market. However, due to the decreasing number of COVID-19 cases, lockdowns have been lifted, and the import and export of raw materials were resumed. Also, ENT clinics and hospitals resumed their operations following the lifting of lockdowns, which will help the regional market recover during the forecast period.

What are the Revenue-generating Product Segments in the Nasal Splint Market?

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The nasal splint market share growth in the intranasal segment will be significant during the forecast period. The intranasal splints help in controlling postoperative hemorrhages of septal origin without causing any infection inside the nasal cavity, even after staying for a long duration. Also, they reduce the level of pain and nasal obstruction. Therefore, the usage of these splints to get good results with lower side effects is increasing its demand, which, in turn, is driving the market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the nasal splint market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Nasal Splint Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 4.35%
Market growth 2022-2026	$595.35 million
Market structure	Fragmented
YoY growth (%)	4.75
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 34%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ANTHONY PRODUCTS INC., Audio Technologies Srl, Boston Medical Products Inc., EON MEDITECH PVT. LTD., Hemostasis LLC, Hood Laboratories, Innovia Medical Inc., LE MED PTY LTD, Medtronic Plc, Olympus Corp., Razek Equipment, Smith and Nephew plc, Soluvos Medical BV, SPIGGLE and THEIS Medizintechnik GmbH, Surgiform Technologies Ltd., Teleflex Inc., Traumec Health Technology, Vernacare, and ENTPROMED Saglik Urunleri San. Ve Tic. A.S
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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What are the Key Data Covered in this Nasal Splint Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive nasal splint market growth during the next five years
• Precise estimation of the nasal splint market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the nasal splint industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of nasal splint market vendors

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