North America dominates the nasal packing devices market
On the basis of regional segmentation, the global Nasal Packing Devices Market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account for the largest share, followed by Europe and Asia Pacific. Nasal packing devices market in North America is driven by new product launches and technological advancement. For instance, in 2014, Medtronic launched the NovaShield injectable and biofragmentable nasal packing stent, which is designed to decrease post-operative bleeding and prevent adhesions in nasal structures in patients, who undergo functional endoscopic sinus surgery (FESS). Whereas, according to Medtronic, around 525,000 FESS procedures are performed in the U.S. annually.
Nasal packing device are intranasal devices that exert constant local pressure to the nasal septum, indicated for epistaxis, also known as nosebleed. Epistaxis occurs due to rupturing of a small blood vessel in the nose lining. Interior of the nose is delicate and highly sensitive to certain factors that make them fragile and prone to burst resulting in bleeding. There are two types of epistaxis anterior and posterior, which requires different type as nasal packing devices. The posterior nasal packing is indicated for failure of anterior packing, reliable or high suspicion of posterior bleeding, patient with bleeding diathesis, which include antiplatelet therapy von Willebrand disease (vWD), anticoagulation, and hemophilia. Whereas, anterior nasal packing is indicated when no source can be identified or cautery has failed.
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Nasal packing is a second-line therapy for epistaxis. It is accomplished with gauze, a Foley catheter, inflatable nasal balloon catheter or a nasal sponge/tampon, topical anesthesia and vasoconstriction, injectable, gels and spray, which stops nose bleeding. According to an article published by Life in the Fast Lane in 2011, nosebleeds commonly occur between the ages of 2-10 and 50-80 years, out of which the 50-80 contributes a major part. Thus, increasing number of geriatric population is also responsible for boosting growth of the global nasal packing devices market.
Increasing prevalence of epistaxis is expected to boost growth of the nasal packing devices market
According to a research article published in International Journal of Otolaryngology in 2015, epistaxis is estimated to affect around 10-12% of the total world population, out of which around 80% patients require medical attention as majority of epistaxis cases are not self-limiting and cannot be resolved due to intervention. Increasing number of nosebleeds cases are expected to foster growth of the nasal packaging device market. Epistaxis is a commonly encountered clinical condition that results in uncertain nose bleeding from either of the nostrils. The most common cause for epitaxies is hypertension. Cardiovascular disorders lead to hypertension, which in turn is favoring growth of the nasal packaging device market. According to the Medical Statistics of World Health Organization (WHO) in 2015, an estimated 289,000 cases of hypertension were reported among pregnant women. According to the American Pregnancy Organization, the circulatory system expands during pregnancy so as to accommodate the baby. The expansion leads to increase in creation and circulation of blood that may lead to problematic issues and frequent nosebleeds during pregnancy. Thus, increasing number of pregnant women suffering from hypertensive diseases is expected to boost growth of the global nasal packing devices market over the forecast period. Moreover, increasing number of patients suffering from nasal tumors benign or malignant also contributes to the nasal packing devices market.
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The nasal packaging market in Asia Pacific is emerging due to increasing number of geriatric population and rapid technological development in the healthcare sector, which is fueling growth of the market. According to the United Nations Population Fund, the number of older people in the Asia Pacific region is increasing at an unprecedented rate and it is at the forefront of the global phenomenon of population ageing. By 2050, one in four people in Asia and the Pacific are expected to be over 60 years old. The population of older persons (aged over 60) in the Asia Pacific region will triple between 2010 and 2050, reaching close to 1.3 billion people, favoring the growth of nasal packaging device market in Asia Pacific region.
The key players dominating the global nasal packing devices market
Key players are involved in research and development for technological advancements and innovation of nasal packaging devices. For instance, in 2016, Smith & Nephew launched a range of nasal packaging devices with RAPID RHINO technology, which has a blend of carboxymethylcellulose (CMC) exhibiting self-lubricating properties that provide gentle and even compression to the nasal area and helps in quick re-conformation of the nasal anatomy. Various similar technological advancements and strategic implementations by emerging and established market players are expected to foster growth of the global nasal packaging device market.
The key players operating in the global nasal packing devices market include Medtronic plc, Stryker Corporation, Smith & Nephew, Inc., Summit Medical Group, Lohmann & Rauscher GmbH & Co.KG, Entellus Medical, Inc., Olympus Corporation, and Network Medical Products Ltd.
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