EPISTAXIS MARKET ANALYSIS

Epistaxis Market– Insights

Epistaxis, also known as nosebleed, occurs due to rupture of  small blood vessel in the lining of nose, as the interior of the nose is highly delicate and sensitive. Also, the interior of nose cannot tolerate certain factors that make the cells fragile and prone to burst resulting in bleeding. Nosebleeds are common during winter season, as upper respiratory infections mostly occur during this season.

In most cases, epistaxis responds effectively to nasal cauterization or nasal packaging or both the treatments. People experiencing recurrent bouts of nosebleeds are usually recommended to undergo surgical options or embolization procedures that are available in hospitals and ENT clinics. The most common treatment adopted for epistaxis patients is either chemical or electrical cautery. This method is easy to perform, cheap, and does not involve any serious risk. Cauterization refers to a procedure, in which a small tissue at the bleeding site is removed or burnt with the help of chemicals such as silver nitrate or mild electric shocks.

Moreover, various topical applications such as tranexamic acid are available in the market that helps to curtail nosebleeds. According to a research article published in International Journal of Otolaryngology in 2015, epistaxis is estimated to affect around 10-12% of the global population, of which around 80% patients require medical attention, as majority of epistaxis cases are not self-limiting and cannot be resolved due to intervention. An increasing number of cases of nosebleeds is expected to drive growth of the global epistaxis market.

The global epistaxis market size is estimated to be valued at US$ 145.9  million in 2019 and is expected to witness a CAGR of 5.4% over the forecast period (2019–2027).

Global Epistaxis Market Share (%) Analysis, By Product Type, 2019

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Source: Coherent Market Insights Analysis (2020)

An increasing launch of products is expected to drive growth of the global epistaxis market

Key players are involved in research and development activities for technological advancements and innovation of epistaxis products. For instance, in 2016, Smith & Nephew launched a range of epistaxis devices with RAPID RHINO technology that has a blend of carboxymethylcellulose (CMC). Various similar technological advancements and strategic implementations by emerging and established market players are expected to drive the global epistaxis market growth.

Global Epistaxis Market- Restraints

The surgical procedure such as cauterization, which is commonly used for the treatment of epistaxis, caused large number of side effects such as pain, swelling, and running nose. This is expected to hinder the market growth over the forecast period.

Global Epistaxis Market- Regional Insights

On the basis of region, the global epistaxis market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the epistaxis market over the forecast period, owing to increasing prevalence of diabetes in the U.S. For instance, according to the Centers for Disease Control and Prevention, in 2015, around 30.3 million people in the U.S. were suffering from diabetes, accounting for 9.4% of the total population.

Asia Pacific is expected to witness rapid growth in the epistaxis market, owing to increasing prevalence of hypertension. For instance, according to the global burden of disease report, in India, around 1.63 million deaths occurred due to hypertension in 2016.          

Global Epistaxis Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

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Source: Coherent Market Insights Analysis (2020)

Global Epistaxis Market- Competitive Landscape

Key players operating in the global epistaxis market include Smith & Nephew, Medline Industries, Inc., Bristol-Myers Squibb Pharma Company, Ciron Drugs, and King Pharmaceuticals, Inc.