Nasal Implants Market: Current Analysis and Forecast (2023-2030)

Report Description

The nasal implants market was valued at USD 340 million in the year 2022 and is expected to grow at a strong CAGR of around 7.2% during the forecast period (2023-2030) owing to rising demand for cosmetic and reconstructive surgeries. Moreover, nasal implants are commonly used to correct nasal deformities resulting from trauma, or congenital abnormalities, or as a cosmetic enhancement to achieve facial harmony. The growing demand for facial aesthetic procedures and advancements in material technology have been significant drivers of the nasal implant market’s growth over the years. Technological advancements & surgical innovations lead to more precise and effective nasal implant procedures, attracting both patients and surgeons to adopt these techniques. Also, the growth of middle-class populations with higher disposable incomes allows more people to afford aesthetic procedures, driving the nasal implant market. For instance, In May 2022, Medtronic, Inc. announced an acquisition of Intersect ENT, Inc. The acquisition was approved by the Federal Trade Commission (FTC) after Medtronic agreed to sell the assets of Fiagon NA Corp., a crucial subsidiary of Intersect ENT. As a result, Medtronic acquired Intersect ENT’s PROPEL and SINUVA (mometasone furoate) sinus implant product lines, intellectual property, and the Menlo Park, CA facility. The acquisition also brought Intersect ENT employees into the Medtronic team.

Some of the major players operating in the market include EON Meditech; GC Aesthetics; GRAND AESPIO INC.; Implantech; Intersect ENT, Inc.; Stryker; KEOSAN Trading CO. Ltd; Smith+Nephew; Surgiform Innovative Surgical Products; and Zimmer Biomet Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst type, the silicon implant category dominated the market in 2022.”

Based on type, the market is segmented into silicon implant, metal implant, meshed implant, and others. Amongst these, the silicon implant category dominated the market in 2022. This is because of their flexibility and natural feel, making them ideal for rhinoplasty and reconstructive nasal surgeries. implants have a smooth surface that minimizes the risk of visible edges or palpability, ensuring seamless integration with the surrounding tissues. Also, the use of silicon implants is associated with a shorter recovery period compared to other materials, as they cause less trauma to the nasal tissues during implantation which will drive the growth of the segment.

“Amongst end-user, the hospital category captured the majority share of the nasal implants market in 2022”

By technology, the market is segmented into wireless hospital, specialty clinics, and ambulatory surgical centers. Among these, the hospital category captured the majority share of the nasal implants market in 2022. This is mainly due to the rising number of burn cases, the availability of skilled professionals, and the increasing awareness of efficient treatment through cosmetic surgeries are the major factors for the growth of this segment. Furthermore,  in 2020, according to the International Society of Aesthetic Plastic Surgery (ISAPS) global survey, there were 3,913,679 face & head surgery procedures performed worldwide.

“North America Dominated the Nasal Implants Market in 2022”

In North America, the nasal implant market has experienced steady growth and is driven by various favorable growth factors. The region’s well-established healthcare infrastructure, technological advancements, and high level of disposable income contribute to the increased adoption of nasal implants. The rising demand for facial cosmetic procedures, including rhinoplasty, in the U.S. and Canada plays a pivotal role in driving the market. Additionally, the growing trend of using personalized and patient-specific nasal implants, made possible by innovations in facial implant materials, is gaining traction in the region. The presence of leading medical device manufacturers and research institutions actively involved in product development and clinical trials further promotes market growth.

Nasal Implants Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global nasal implants market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Nasal Implants Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Nasal Implants Market were the three major steps undertaken to create and analyze the adoption of smart homes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Nasal Implants Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Nasal Implants Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Nasal Implants Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as source of origin, type, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Nasal Implants Market. Further, we conducted factor analysis using dependent and independent variables such as source of origin, type, and end-user of the Nasal Implants Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Nasal Implants Market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Nasal Implants Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Nasal Implants Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Nasal Implants Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Nasal Implants Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the source of origin, type, and end-user in the global Nasal Implants Market.

The main objective of the Global Nasal Implants Market Study

The current & future market trends of the global Nasal Implants Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Nasal Implants Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the source of origin, type, and end-user.
• Define and analysis of the regulatory framework for the smart home
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Nasal Implants Market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Nasal Implants Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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