Nasal Packing Devices Market: Overview

Nasal packing can be defined as the placement of intranasal device for the application of constant local pressure on the nasal septum. Nasal packing adds direct pressure and reduces mucosal irritation, decreases bleeding and enables clot formation around the foreign body. Nasal packing is considered to be the second line of treatment for epistaxis, which is also known as nosebleed, when cauterization is unsuccessful. Nasal packing is used for the treatment of anterior and posterior epistaxis. Traditional nasal packing includes a ribbon gauze, which is impregnated with lubricant or antibiotic ointment. The recent advancements in the nasal packing include hygroscopic foam packing that is capable of absorbing liquid over 10 to 20 times its weight. Upon hydration, these packing materials compress the vasculature.   

Nasal Packing Devices Market: Key Trends

Increasing prevalence of epistaxis is a primary factor propelling the nasal packing devices market. According to International Journal of Otolaryngology, over 12% of the global population suffered from epistaxis in 2015, of which over 75% of the population required medical attention. Epistaxis is one of the common clinical conditions that causes bleeding from the nostrils, the primary cause of which is considered to be hypertension. Growing prevalence of hypertension boosts the market. Expansion of circulatory system during pregnancy leads to an increase in circulation of blood, which leads to nosebleeds. Therefore, rise in the number of pregnant women suffering from hypertensive diseases drives the market. Furthermore, increase in prevalence of nasal tumors fuels the market. However, complications associated with nasal packing such as those associated mucosal lacerations, which can worsen bleeding and cause infectious complications and toxic shock syndrome (TSS) is hamper the demand for nasal packing devices. This, in turn,  inhibits the nasal packing devices market during the forecast period. However, rise in the number of product launches and strong focus on technological developments propel the market. 

Nasal Packing Devices Market: Segmentation

The global nasal packing devices market can be segmented based on product, material, end-user, and region. In terms of product, the market can be divided into injectable, gels, sprays, and dressings. The dressings segment can be sub-segmented into sponges, splints, and strips. Based on material, the nasal packing devices market can be bifurcated into bioresorbable and non-absorbable. In terms of end-user, the market can be segregated into hospitals, clinics, ambulatory surgical centers, and others.

Nasal Packing Devices Market: Regional Analysis

Based on region, the global nasal packing devices market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a dominant share of the market in 2018. The U.S. was the highest revenue generating country in the region. Expansion of the market in the region can be attributed to factors such as the presence of leading market leading North America, significant number of product launches, and presence of a well-established health care infrastructure. In terms of revenue, Europe accounted for a large share of the market. However, the nasal packing devices market in Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period owing to the rising geriatric population, increasing prevalence of epistaxis, rising target patient population, and technological developments in the health care sector.

Nasal Packing Devices Market: Competitive Landscape

Major players in the global nasal packing devices market include Smith & Nephew, Inc., Medtronic plc, Summit Medical Group, Stryker Corporation, Lohmann & Rauscher GmbH & Co.KG, Olympus Corporation, Entellus Medical, Inc., and Network Medical Products Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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