NASAL SPLINTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global nasal splints market size is estimated to be valued at US$ 2.79 Bn in 2023 and is expected to reach US$ 3.45 Bn by 2030, exhibited a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030. Nasal splints are medical devices used to stabilize and support the nasal septum after nasal surgeries such as septoplasty and rhinoplasty. They prevent displacement of the septum and enable proper healing after surgery. The key market drivers of the global nasal splints market include rising prevalence of nasal deformities, increasing awareness about reconstructive surgeries, technological advancements, and increasing healthcare expenditure.Global nasal splints market is segmented into type, material type, application, end user, and region. By type, the market is segmented into malleable nasal splints, airway nasal splints, bivalve nasal splints, septal nasal splints, and others. The malleable nasal splints segment accounted for the largest market share in 2022. The high share of this segment is due to their ease of insertion, cost-effectiveness, and ability to minimize septal hematoma. 

Global Nasal Splints Market Regional Insights

• North America is expected to be the largest market for global nasal splints market during the forecast period, accounting for over 35.5% of the market share in 2022. The growth of the market in North America is due to the high prevalence of nasal deformities, established healthcare infrastructure, and high adoption of advanced nasal splints.
• The Europe market is expected to be the second-largest market for global nasal splints market, accounting for over 26.1% of the market share in 2022. The growth of the market in Europe is due d to the rising awareness about nasal surgeries, availability of skilled healthcare professionals, and favorable reimbursement policies.
• The Asia Pacific market is expected to be the fastest-growing market for global nasal splints market, accounting for over 20.3% during the forecast period. The growth of the market in Asia Pacific is due to the large target patient population, improving healthcare expenditure, and expanding medical tourism for nasal surgeries.

Figure 1. Global Nasal Splints Market Share (%), By Region, 2023

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Analyst’s View on Global Nasal Splints Market:

• The nasal splints market is expected to grow at a steady pace over the forecast period. The market is driven by the rising number of nasal surgeries such as septoplasty, functional endoscopic sinus surgery, and nose correction surgeries. Post-surgery, nasal splints are used to prevent trauma to the nasal structure and support healing. Further, ease of placement and removal along with comfort for patients is expected to support the demand of nasal surgeries.
• However, the presence of alternative treatments that do not require nasal splints post-surgery may hinder the market growth. Some surgeons also opt for non-placement of nasal splints in certain conditions. This challenges the regular usage of this product. Unfavorable reimbursement policies in some regions restrict market potential.
• The North America nasal splints market holds the largest share. This is due to the presence of major market players and growing awareness about benefits of nasal splints usage after surgery. Asia Pacific is expected to witness fastest growth during the forecast period. This is due to rise in healthcare expenditure, increasing disposable incomes, and growing medical tourism in countries like India and China.
• Manufacturers could benefit by expanding their geographic footprint in emerging countries through collaborations with local players. Offering customizable nasal splints tailored to surgery type can further augment demand. However, firms must conduct detailed research to understand regional preferences and regulations as well.                                     

Global Nasal Splints Market Drivers:

• Increasing prevalence of nasal deformities: Rising prevalence of nasal deformities such as deviated septum, nasal valve collapse, and nasal bone fractures is a major factor driving the growth of the global nasal splints market. Nasal deformities can cause breathing difficulties, recurrent infections, headaches, facial pain and alter facial appearance. According to studies, deviated septum affects around 60% of the general population. The demand for nasal splints is high for stabilizing the septum after corrective surgeries for deviated septum. Nasal splints play a crucial role in realigning the septum and enabling proper healing after septoplasty. The growing patient pool is expected to drive adoption of nasal splints. For instance, in November 2022, according to ‘The Journal of Craniofacial Surgery’ publication “Quality of Life and Symptoms Before and After Nasal Septoplasty” published,  the prevalence of nasal septal deviation ranges from 30.9% to 65%. Nasal septal deviation may be asymptomatic, which can also result in nasal obstruction, rhinosinusitis symptoms, and sleep disorders such as snoring, mouth breathing, daytime somnolence, and fatigue, which may have significant physical and social consequences and can impact quality of life.
• Technological advancements in product design and materials: Continuous advances in design, material engineering, and drug-eluting technologies have led to the development of improved nasal splints. Companies are increasingly focusing on developing bioresorbable and drug-eluting splints. These provide stabilization and also promote healing by releasing antibiotics/medications locally. Splints with adjustable length, customized shapes, and those enabling easy application are also being introduced. Further, modern computer-based modelling techniques allow companies to develop patient-specific nasal splints. Such advanced splints fulfilling specific requirements of procedures will continue to bolster growth. For instance, in March 2020, according to an article ‘The use of modified Silastic nasal splints as frontal sinus stents’ published by Cambridge University, endoscopic frontal sinus surgery is frequently complicated by post-operative stenosis and obstruction of the frontal sinus outflow tract, resulting in recurrent disease. Frontal sinus stents may help prevent re-occlusion of the frontal neo-ostia.                                                

Global Nasal Splints Market Opportunities:

• Emerging markets offer significant growth prospects: Developing countries in Asia Pacific, Latin America, Middle East & Africa represent high-potential markets for nasal splints owing to the large target patient pool and improving healthcare facilities. The geriatric population susceptible to nasal conditions is rising in these countries. Healthcare infrastructure is also being upgraded to provide better access to Ear Nose Throat (ENT) specialists and surgeons. Favorable demographics combined with increasing healthcare investments create wide opportunities for market player operating in nasal splints market. Investing in these emerging economies by setting up manufacturing hubs and distribution networks can enable companies to tap growth opportunities. According to the Aesthetic Surgery Society, surgical procedures increased by 54% in the U.S. alone in 2021. In Canada, the leading cosmetic surgery procedures are botox and rhinoplasty with over 18,100 and 9,900 online searches on the procedures, respectively.
• Rising medical tourism for nasal surgeries: The growing popularity of medical tourism presents lucrative opportunities for nasal splint manufacturers. Many patients from developed countries are travelling to destinations such as Asian countries due  to the low cost of surgeries. Countries like India, Malaysia, Mexico, Costa Rica, and Thailand are highly preferred for cosmetic nasal surgeries and corrective septoplasty. Medical tourists spend considerable out-of-pocket sums on surgeries and allied products like nasal splints. Tapping this high-growth patient population through medical tourism partnerships can help manufacturers expand their customer base and increase revenues. For instance, in July, 2020, according to an article published by the International organization of standardization (ISO) ‘High hopes for medical tourism’ from knee to nose surgery, the global medical tourism market has been on the rise for several years.
   

Global Nasal Splints Market Trends:

• Developing markets in Asia Pacific and Latin America: The developing markets in Asia Pacific and Latin America hold tremendous potential for growth in global nasal splints market. These regions have large population bases, combined with improving economic conditions and healthcare investments. These areas have seen significant improvements in access to basic healthcare over the past decade as governments increased funding to strengthen primary care infrastructure and systems. For example, in India, the government's Ayushman Bharat program aims to provide affordable healthcare access to over 500 million citizens by building 1.5 Bn new health and wellness centers across the country by 2025. Similarly, Brazil expanded its universal healthcare program in 2020 to cover over 17 million additional low-income citizens. As primary care becomes more standardized and widespread in these regions, there will be greater awareness and uptake of ancillary products like nasal splints used in common procedures.
• Strategic collaborations and partnerships: Mergers and acquisitions, partnerships, and technology licensing agreements between nasal splint companies, and ENT device manufacturers are rising. Companies are collaborating to leverage each other’s expertise for developing innovative products and expanding geographic presence. For instance, in May 2022, Medtronic plc, a global leader in healthcare technology, announced that it has completed the acquisition of Intersect ENT, a commercial stage drug-device company, provides therapeutic solutions for patients with ear, nose, and throat, thus expanding the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products.

Global Nasal Splints Market Restraints:

• Complications and risks associated with nasal splints: Nasal splints are associated with some complications such as mucosal injury, synechiae formation, infection, and toxic shock syndrome. Prolonged placement of splints can increase chances of infection and adhesions. Synechiae formation around splints limits airflow causing breathing issues and need for additional surgeries. Cases of pressure necrosis owing to tight packing have also been reported. Such complications pose a major restraint to adoption among patients and surgeons. This is compelling companies to improve patient safety through innovations. For instance, in 2021, according to a study published in Biomedcentral (BMC) Ear, Nose and Throat Disorders journal, post-operative nasal splinting was associated with increased incidence of nasal obstruction (38.1% vs 12.9%) and discharge (38.5% vs 7.1%) compared to no splinting. Similarly, in 2020 a study published in American Journal of Otolaryngology-Head and Neck Medicine and Surgery reported that nearly 16% of the patients who underwent nasal surgery required splint removal due to intractable sinus pain. These complications and risks extend the recovery time and impact the patient's quality of life in the initial post-surgery period. This discourages both physicians and patients from relying on or recommending nasal splints.
• High cost of nasal surgeries in many countries: The high cost of nasal surgeries such as rhinoplasty and septoplasty in several countries hampers the growth of the global nasal splints market. Many patients opt out of corrective or cosmetic nasal surgeries due to their high costs and inadequate insurance coverage. Out-of-pocket expenditure is also substantial in some countries. Moreover, limited access to skilled ENT specialists increases procedure costs. The high cost of overall treatment limits the adoption of nasal splints and allied products that aid these surgeries. In 2022, according to the article ‘All-Inclusive Cash Surgery Pricing published by Northwest ENT Surgery Center, the average cost of Septoplasty is $3,000 - 4000, Sinus surgery is $5,000 – 6000 and Nasal fracture reduction is $4000-5000.
• Counterbalance: As a result, the key market players should aim to improve patient safety through innovations, so that the nasal splints surgeries are easily accepted by the patients.

Figure 2. Global Nasal Splints Market Share (%), By Material Type, 2023

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Recent Developments

New product launches

• In January 2022, Stryker, a U.S. based multinational medical technology company launched the Rinastent bioresorbable nasal splint for use in nasal surgeries. It prevents movement of the septal flap and minimizes complications after septoplasty.
• In May 2021, Summit Medical, an Innovia Medical Company manufacturer of  medical devices in ENT, instrument protection products  launched the the U.S Accudent Nasal Splint for stabilizing nasal septal cartilage. It is made from medical-grade silicone.
• In March 2020, Network Medical Products, a U.K. based medical devices company, announced U.S Food and Drug Administration (FDA) approval for Flexfix Bioresorbable nasal dressing and splint to support nasal septum after surgery.

Acquisition and partnerships

• In June 2022, Smith & Nephew, a U.K. based multinational medical equipment manufacturing company acquired Engage Surgical, a developer of the only polyaxial locking screw system for fixation of bone fractures in the face. This expanded Smith & Nephew's portfolio.
• In April 2021, Stryker, a U.S. based multinational medical technology company, announced acquisition of OrthoSensor, an early-stage medical device company for its Verasence intraoperative sensor technology. This helped enhance Stryker's digital and robotic surgery offerings.
• In January 2020, Olympus, a Japan based optics and reprography product manufacturing company, announced acquisition of Arc Medical Design, a manufacturer of proprietary medical devices. This acquisition strengthened Olympus' single-use medical device capabilities.

Top Companies in Global Nasal Splints Market

• Network Medical Products Ltd.
• Summit Medical
• Surgiform
• Mentor Worldwide LLC (Johnson & Johnson)
• Olympus Corporation
• Medtronic
• Stryker
• Smith & Nephew
• Intersect ENT, Inc.
• Cook Medical

*Definition: The nasal splints refers to the medical devices and products used for stabilizing the nasal septum after nasal surgeries such as septoplasty and rhinoplasty. Nasal splints come in different shapes and sizes and are made using various materials such as silicone, bioresorbable materials, plastic, and metal. They provide support to the nasal septum and prevent complications like septal hematoma, excessive bleeding, and deformity after the surgery. The market includes traditional nasal splints as well as technologically advanced products used across hospitals, clinics, and ambulatory centers.

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