Absorbable Nasal Implant Devices Market Trends

Absorbable Nasal Implant Devices Market Trends

The increasing prevalence of nasal congestion and the surging number of nasal reconstruction surgeries is escalating the demand for absorbable nasal implants. Nasal congestion refers to obstruction and reduced airflow in the nasal cavity in clinical practice. Multiple conditions are related with congestion that comprises nasal polyposis, obstructive sleep apnea, and anatomic variation. These conditions significantly impair quality of life, congestion leads to reduced daytime productivity and lower night-time sleep time & quality.
 

As per the National Centers for Biotechnology Information (NCBI) article, in 2019, rhinosinusitis impacts tens of millions of Americans, further leading to nearly USD 6 billion in overall health care expenditures. Statistics indicate that the allergic rhinitis prevalence varies significantly, from 10% to as high as 40%. Overall, the approximate prevalence rate is around 10% to 20% of the global population, with the prevalence of allergic rhinitis increasing since the last 2 to 3 decades. Thus, the high prevalence of these conditions is promoting share.
 

In addition, considering the high prevalence coupled substantial economic & social burden of this condition, there continues to be a notable unmet clinical need for effective therapeutic alternatives for these conditions. This development further offers a market penetration and business expansion opportunity for the key players. As a result, the growing number for surgical procedures, the rising prevalence of nasal congestion along with associated conditions, and under-penetrated market opportunity is supporting business growth.