According to a new report, published by KBV research, The Global Nasal Splints Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 4.9% CAGR during the forecast period. In the year 2023, the market attained a volume of 61,908.5 thousand units, experiencing a growth of 15.4% (2020-2023).
The Intranasal segment is registering a CAGR of 4.7 % during the forecast period. Intranasal splints offer a minimally invasive treatment option for many nasal conditions, including nasal obstruction, septal deviation, nasal valve collapse, and rhinosinusitis. Compared to external nasal splints or surgical interventions, intranasal splints can be inserted and removed with minimal discomfort, making them well-suited for patients who prefer noninvasive treatment options or wish to avoid external splints that may be visible or cumbersome. Therefore, owing to these factors, there will be enhanced demand in the segment.
The Septoplasty segment is capturing maximum revenue in the Global Nasal Splints Market by Application in 2023, thereby achieving a market value of $1.3 billion by 2031. Septoplasty is one of the most performed nasal surgeries worldwide. It’s often recommended for individuals with significant nasal obstruction due to a deviated septum that does not respond to conservative treatments. Given the frequency of septoplasty procedures, the demand for nasal splints used in conjunction with these surgeries is substantial. Hence, the segment will expand rapidly in the upcoming years.
The Malleable segment is exhibiting a CAGR of 4.4 % during the forecast period. Their flexible nature allows for gentle compression and support of nasal tissues without exerting excessive pressure or causing discomfort, making them well-suited for postoperative splinting following nasal surgery or trauma. Patients often report greater satisfaction and acceptance with malleable splints due to their reduced sensation of pressure, irritation, or foreign body sensation in the nasal passages. Thus, these factors can help in the growth of the segment.
The Outpatients segment is leading the Global Nasal Splints Market by End-user in 2023, thereby, achieving a market value of $1.1 billion by 2031. Outpatient facilities provide a more tranquil and patient-centric milieu in comparison to conventional hospital settings, potentially resulting in increased levels of patient contentment and adherence to prescribed treatment plans. Nasal splinting services offered in outpatient clinics or ASCs cater to patient preferences for non-hospital-based care, enhancing accessibility and convenience for individuals undergoing nasal procedures. Hence, these factors can boost the demand in the segment.
The Silicon Splints segment is showcasing a CAGR of 4.2 % during the forecast period. Silicone splints exhibit excellent flexibility and conformability, allowing for easy adaptation to the contours of the nasal cavity and structures. The pliable nature of silicone enables healthcare providers to customize splinting solutions that match the unique anatomical characteristics of individual patients, ensuring proper fit, stability, and support. Therefore, these aspects can lead to enhanced demand in the segment.
Full Report: https://www.kbvresearch.com/nasal-splints-market/
The North America region dominated the Global Nasal Splints Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $756.3 million by 2031. The Europe region anticipated to grow at a CAGR of 4.5% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 5.6% during (2024 - 2031).
By Mechanism (Volume, Thousand Units, USD Billion, 2020-31)
By Application (Volume, Thousand Units, USD Billion, 2020-31)
By Type (Volume, Thousand Units, USD Billion, 2020-31)
By End-user (Volume, Thousand Units, USD Billion, 2020-31)
By Material Type (Volume, Thousand Units, USD Billion, 2020-31)
By Geography (Volume, Thousand Units, USD Billion, 2020-31)
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