Market Outline: Absorbable Nasal Implant Devices Market
Absorbable nasal implant devices are used in the treatment of nasal obstructions and blockage to allow better breathing. Nasal airway obstruction is caused due to enlarged turbinate, septal deviation, and vestibular stenosis among others. The most common symptoms associated with nasal airway obstruction include congestion, stuffiness, or abnormality in breathing through nostrils. Absorbable nasal implants available as spacer, springs, sponges, and gels. Absorbable implants are commonly preferred over non-absorbable implants to avoid the secondary surgery which is required to remove the non-absorbable implants.
Market Dynamics: Absorbable Nasal Implant Devices Market
Increase in the R&D for the innovation of novel absorbable nasal implants with advanced technologies such as decreased irritation & side effects spurs the absorbable nasal implant devices market over the forecast period. Moreover, rise in demand for absorbable nasal implants to avoid secondary surgery, adoption of advanced implants by physicians, relief from nasal congestion, and enhanced respiration ability are bolster the absorbable nasal implant devices market. However, stringent regulatory policies for product approval, product recall, mild pain and irritation with devices, and lack of awareness about absorbable implants among key stakeholders are expectd to restrain the growth of absorbable nasal implant devices market over the forecast years.
Market Summary: Absorbable Nasal Implant Devices Market
Absorbable nasal implant devices preferred over non-absorbable nasal implant devices owing to reduced adverse reactions and no delayed post-operative cosmetic changes. These devices are operated with minimally invasive techniques and have reasonable efficiency of drug-eluting implants with decrease in physiological tissue damage. Moreover, acquisitions and mergers, product approvals, and patent grants are the strategies adopted by the market players for dominating the absorbable nasal implant devices market. For instance, in July 2016, Spirox received FDA Clarence for Latera, an absorbable nasal implant to support the lower and upper lateral nasal cartilages to prevent nasal valve collapse. In addition, in September 2015, Smith & Nephew launched Nasastent dissolvable intranasal splint to reduce the bleeding and post-operative adhesions after sinus surgery.
Market Scope: Absorbable Nasal Implant Devices Market.
Nasal implants market is segmented on the basis of product type, material type, end user, and region
Based on the product type, the market is segmented into the following:
- Drug Eluting Absorbable Nasal Implant Devices
- Non-Drug Eluting Nasal Implants Devices
Based on the material type, the market is segmented into the following:
- Carboxy Methyl Cellulose (CMC)
Based on the end user, the market is segmented into the following:
- Ambulatory Surgical Centers
Based on region, the market is segmented into the following:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Regional Analysis: Absorbable Nasal Implant Devices Market
Geographically, global absorbable nasal implant devices market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America absorbable nasal implant devices market is growing at significant rate due to increase in R&D for the innovation of newer implants, rise in awareness about absorbable implants, and increase in healthcare expenditure in the region. Europe absorbable nasal implant devices market is exhibiting lucrative growth owing to increase in the adoption of novel implants, rise in R&D investments for the innovation of newer devices, and increase in the nasal reconstruction surgeries in the region.
Asia Pacific absorbable nasal implant devices market is poised to grow due to development in healthcare infrastructure, large patient pool, and rise in awareness about modern nasal reconstruction surgeries across the region. Latin America absorbable nasal implant devices market is expected to grow positively owing to economic growth, expansion of business by market players, and adoption of technologically advanced devices in the region. Middle East and Africa absorbable nasal implant devices market has a significant growth, which is attributed to rise in awareness about the absorbable nasal implants and increase in healthcare expenditure in the region.
Competition Assessment: Absorbable Nasal Implant Devices Market
- Smith & Nephew plc (U.K.)
- Pfizer, Inc. (U.S.)
- Intersect ENT, Inc. (U.S.)
- ArthroCare Corporation (Smith & Nephew, Inc.) (U.S.)
- Spirox, Inc. (Entellus Medical) (U.S.)
- Stryker Corporation (U.S.)
- Mentor Worldwide LLC (U.S.)
- Acclarent, Inc. (Ethicon Inc.) (U.S.)
Notable Market Developments:
In July 2017, Entellus Medical Acquired Spirox, Inc. for strengthening the nasal implant devices portfolio
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013 to 2016) and forecast (2017 to 2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market