The nasal splints market comprises nasal braces, stents or splints used to maintain the nasal passage open after nasal surgery or injury. Nasal splints are made from various biocompatible materials like silicone, thermoset plastics or nitinol. They prevent collapsed nasal openings and provide structural support inside the nose during healing. Silicone nasal splints are increasingly adopted due to their biocompatibility, non-allergenic properties and flexibility. Nasal splints avoid infections and speed up recovery process post-surgery.

The Global Nasal Splints Market is estimated to be valued at US$ 159.44 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period between 2024 to 2030.

Key Takeaways
Key players operating in the nasal splints market are AccountancyManager, Aero Workflow, Adra Accounts, ApprovalMax, EasyCloud Consultants Pvt Ltd, IRIS Software Group, Nexus1040, I-SPIRIT, Omni Accounts, and Attach Accounting System. The demand for nasal splints is growing owing to increasing number of nasal surgeries like sinus surgery, deviated septum correction and functional endoscopic sinus surgery (FESS). Major players are expanding their presence in developing regions like Asia Pacific and Latin America to tap the opportunities owing to improving healthcare infrastructure.

Market drivers
The increasing number of nasal surgeries is one of the key drivers of the nasal splints market. According to the American Academy of Facial Plastic and Reconstructive Surgery, over 226,000 rhinoplasty procedures were performed in 2018 in the US. The rising incidence of sinusitis, deviated nasal septum and nasal congestion are prompting more patients to opt for nasal surgeries. This is directly increasing the adoption of nasal splints for post-surgery recovery and stabilization.

Geopolitical Impact on Nasal Splints Market Growth

The current geopolitical instability across several regions is negatively impacting the Nasal Splints Market Size growth. The rising conflicts and trade wars have disrupted the supply chains and international trade. This has hampered the easy availability of raw materials for nasal splints manufacturing. Furthermore, economic and political uncertainty in many countries have weakened the spending on healthcare industry. As nasal splints are generally used post nose surgeries, reduction in such procedures during recession has lowered the demand.

To sustain future growth, companies should consider diversifying their supply networks and establishing facilities in politically stable regions. Signing long term contracts with reliable suppliers can ensure uninterrupted supply. Companies also need to focus on expanding into emerging markets that are relatively insulated from geopolitical issues. Adopting a multidomestic approach instead of standardized global strategy helps tap into regional opportunities.

Concentration of Nasal Splints Market by Regions

North America currently accounts for the largest share of the global nasal splints market in terms of value. Availability of advanced healthcare infrastructure and higher spending on medical procedures have driven the widespread usage of nasal splints. Moreover, presence of leading global manufacturers in the US has made these products easily accessible. Asia Pacific is the fastest growing region for nasal splints driven by rising income levels, growing medical tourism and expansion of healthcare systems in developing countries. India and China contribute majorly to the regional market growth.

Fastest Growing Region for Nasal Splints

Asia Pacific region is poised to witness the fastest growth in the nasal splints market during the forecast period. Rapidly developing healthcare infrastructure, rising medical tourism, growing affinity for advanced cosmetic and reconstructive procedures and expansion of private healthcare are some key factors fueling the market growth. Increasing focus on modernizing the healthcare facilities as well as spreading medical insurance coverage to masses will further propel the demand. Significant economic development along with rising per capita income in countries such as India and China is increasing the affordability of nasal splints. Favorable government policies and initiatives to strengthen the regional healthcare sector offer promising growth prospects.

Get More Insights On This Topic: Nasal Splints Market