Nasal Packing Devices Market is expanding at the quickest rate in North America | Says FMI Analyst
The global Nasal Packing Devices Market is expected to be valued at US$ 182.03 million by 2022, with a 5.1% CAGR between 2022 and 2032. By the end of 2032, the Nasal Packing Devices market is expected to be worth around US$ 299.35 million.
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.
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).
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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.
Nasal tampons are medical devices used to control bleeding, prevent infection, and promote healing after nasal surgery or trauma. They are also used to treat severe cases of nosebleeds (epistaxis).
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.
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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.
Global Nasal Packing Devices Market Key Players:
- Summit Health
- Smith & Nephew
- Stryker Corporation
- Medtronic plc.
- Network medical products ltd.
- Lohmann & Rauscher
- Meril Life Sciences Pvt Ltd.
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Nasal Packing Devices Market by Segmentation
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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