Nasal Packing Devices Market Analysis, Segmentation, Key Players, Opportunities And Forecast 2032
The global Nasal Packing Devices Market is expected to be worth US$ 182.03 million by 2022, growing at a moderate CAGR of 5.1% between 2022 and 2032. The Nasal Packing Devices market is expected to be worth approximately US$ 299.35 million by the end of 2032.
With more people experiencing epistaxis, there has been an increase in the demand for nasal packing devices. According to the International Journal of Otolaryngology, more than 12% of the global population suffered from epistaxis in 2021, with 75% of those affected requiring medical attention.
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A common clinical condition, epistaxis is characterized by bleeding from the nostrils, and it is widely believed that hypertension is the primary cause of this condition. The increasing number of people with hypertension is good news for the nasal packing devices industry. Nosebleeds are a common pregnancy symptom due to the increased blood flow caused by the dilation of blood vessels
The rising prevalence of hypertension among pregnant women is a key factor propelling the nasal packing devices market. The increased prevalence of nasal malignancies is also fueling the demand for nasal packing devices. As a result of complications such mucosal lacerations, which can cause more bleeding, infections, and toxic shock syndrome, nasal packing devices are not as popular as they once were (TSS).
Since this is the case, the adoption of nasal packing devices is anticipated to decrease. The proliferation of nasal packing devices, on the other hand, is being propelled by the constant focus on technology advances and the introduction of new items in this space.
From 2022 to 2032, the Asia-Pacific region is expected to post the highest nasal packing devices market growth rate worldwide. High unmet requirements, a thriving economy, and an overall improvement in healthcare facilities, particularly in developing countries like China and India, are mostly responsible for this expansion. Additionally, the expansion of the market is due to the rising level of public understanding of nasal packing devices and the roles they play.
Key Takeaways from Market Study
North America is the fastest growing region for the nasal packing devices market.
The nasal packing devices market is anticipated to reach a valuation of US$ 299.35 Million by 2032.
Development of more cutting-edge medical equipment are opening new opportunities in the market.
About 55% of the revenue in 2021 came from the non-absorbable nasal packing devices market category.
Competitive Landscape
In order to keep up with the ever-increasing innovation and demand for nasal packing devices, market participants are strongly encouraged to engage heavily in R&D activities and focus their attention there. Increased competition from companies offering innovative features has contributed to the growth of the nasal packing device industry.
During the projected period, the nasal packing devices manufacturing industry is anticipated to grow as a result of new product releases, mergers, and acquisitions.
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Global Nasal Packing Devices Market Key Players:
Summit Health
Smith & Nephew
Stryker Corporation
Medtronic plc.
Network medical products ltd.
Olympus
Lohmann & Rauscher
Meril Life Sciences Pvt Ltd.
FABCO
Nasal Packing Devices Market by Segmentation
By Product:
Injectable
Gel
Spray
Dressings
By Type:
Bio-resorbable
Non-absorbable