RHINOPLASTY MARKET ANALYSIS

Rhinoplasty MarketSize and Trends

Global rhinoplasty market is estimated to be valued at US$ 4,488.5 million in 2023 and is expected to exhibit a CAGR of 7.9% during the forecast period (2023-2030). Increasing acquisition of new business strategies by the market players is expected to increasing the growth of the market over the forecast period. For instance, on March 31, 2023, Osteopore, a Singapore-based leading medical device company, officially acquired multiple medical distribution businesses, which on a group basis will represent around 40%- 45% of global sales, and is anticipating a boost in revenue primarily from its aesthetic rhinoplasty product line. The acquisition is expected to boost revenue in the aesthetic businesses through higher margins with improved efficiencies.

Global Rhinoplasty Market Segmentation:

The global rhinoplasty market report is segmented into Treatment Type, Application, Technique, and End User.

Based on Treatment type, the market is segmented into augmentation (by implants), reduction, fillers, and others (reconstructive and others). Out of which, the augmentation segment is expected to dominate the rhinoplasty market during the forecast period and this is attributed due to high demand of rhinoplasty devices.

Based on Application, the market is segmented into post-traumatic and aesthetics. Out of which, the aesthetic applications segment is expected to dominate the market over the forecast period.

Based on Techniques, the market is segmented into open rhinoplasty and close rhinoplasty. Out of which, open rhinoplasty segment is expected to dominate the market over the forecast period.

Based on End User, the rhinoplasty market is segmented into hospitals, specialty clinics, aesthetic clinics, and others (research centers and academic institutes). The aesthetic clinics segment is expected to dominate the market over the forecast period and this is attributed to the higher surgery occurring to improve the appearance of the face carried out by the patients.

Among all segmentation, the aesthetic segment has the highest potential due to the high demand for rhinoplasty market products. Therefore, most of the manufacturers such as Allergan (Abbvie), Luminera, and others are manufacturing rhinoplasty devices.

Global Rhinoplasty Market Cross Sectional Analysis:

In End User segment, aesthetic clinics held the dominant position for the augmentation of the nose due to therapy offered by aesthetic hospitals. For instance, according to the news by Ageless Clinics published on June 10, 2020, nose augmentation is offered by Ageless clinics, it is a non-surgical nose job for 15 minutes. It helps to straighten a crooked nose, fill in a dented nose and align the nose with the face.