Nose Reconstruction Market Research, 2030
The global nose reconstruction market was valued at $3.3 billion in 2020, and is projected to reach $6.1 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. Nose reconstruction is a method of changing the shape of the nose through surgical procedures to enhance the appearance and beauty of a person. Nose reconstruction surgery is also known as rhinoplasty. Nose reconstruction surgeries are mainly categorized as open rhinoplasty and closed rhinoplasty. Rhinoplasty is done to change the size, shape, or proportions of the nose. It may be done to repair deformities from an injury, correct a birth defect, or improve some breathing difficulties.
The Rhinoplasty Market trendsis majorly driven by an increase in the prevalence of road accidents, the presence of congenital nasal deformities, and an increase in healthcare expenditure of people. Many road accidents cause injuries to the nose and result in nasal deformation. Nasal reconstruction procedures are used to restore nose structure after accidental conditions. In addition, these nasal reconstruction surgeries boost confidence and help patients to recover from accident trauma. For instance, as per the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) report published in February 2022, an estimated 31,720 people died in motor vehicle traffic crashes from January through September 2021, an increase of approximately 12% from the 28,325 fatalities projected for the January to September of 2020. Moreover, the betterment of the financial condition of people from developing nations is expected to drive the Rhinoplasty Market growth.
Furthermore, an increase in advancements for nose reconstruction surgeries and a rise in the number of R&D activities for new nose reconstruction instruments contribute to the growth of the market. In addition, an increase in demand for cosmetic reconstruction procedures to improve appearance drives the growth of the market. For instance, according to the American Society of Plastic Surgeons (ASPS), nearly 7 million reconstructive procedures were performed and about 352,555 nasal reshaping procedures were performed in 2020. However, these numbers decreased by 15% as plastic surgery clinics were closed due to COVID-19.
Technological advancements in nose reconstruction devices are anticipated to contribute to the growth of the market. In addition increase in the use of innovative products such as 3D integrated piezotome osteotomy and surgical intraoperative navigation and new approved ultrasound technological devices for nose rhinoplasty also propel the growth of the nose reconstruction market. In addition, new technologies such as minimally invasive rhinoplasty and 3D imaging help in faster recovery. Moreover, ultrasonic rhinoplasty uses specialized tools to reshape nasal bones for a more refined shape providing various Rhinoplasty Market opportunity. However, the high cost of nose reconstruction surgeries impedes the growth of the market.
The global nose reconstruction market is segmented into type, treatment, end-user, and region. By type, the market is categorized into open rhinoplasty and closed rhinoplasty. Depending on the treatment, it is fragmented into augmentation, reduction, revision, filler, and others. By per end-user, it is divided into hospitals, plastic surgery clinics, and others. Region-wise, the Rhinoplasty Market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
By Type
Depending on type, the open rhinoplasty segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in number of nose reshaping cases across the world. However, the closed rhinoplasty segment is expected to witness considerable growth during the forecast period, due to surge in adoption of nose reconstruction instruments are the key factors anticipating the growth of the market.
By Treatment
Based on treatment, the augmentation systems segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to prevalence of congenital nasal defects across the world. However, the reduction segment is expected to witness considerable growth during the forecast period, nose reconstruction devices across the world is key factors anticipating the growth of market.
By End User
Depending on end user, the hospitals segment was the major contributor in 2020 and is expected to maintain its lead during the forecast period, owing to rise in number of patients visits in hospitals for nose reconstruction surgeries. However, the plastic surgery clinics segment is expected to witness considerable growth during the forecast period, increase in nasal surgeries and rise in adoption of nose reconstruction product across the world.
By Region
Depending on the region, North America garnered the major Rhinoplasty Market share in 2020, and is expected to dominate the global market during the forecast period, owing to the rise in prevalence of road accidents, presence of key players in the development of nasal reconstruction equipment and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to register the highest CAGR of 8.1% from 2021 to 2030, owing to an increase in the prevalence of congenital nasal deformities and a rise in healthcare expenditures are the key factors. anticipating the growth of the market.
The key players operating in the Rhinoplasty industry include Abbvie Inc., COMEG Medical Technologies, GC Aesthetics, Grand Aspeo, Implantech Associates, Johnson & Johnson, Koken, Stryker Corporation, Surgiform Technologies Ltd., and Wanhe Plastic Material.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the nose reconstruction market analysis from 2020 to 2030 to identify the prevailing nose reconstruction market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the nose reconstruction market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global nose reconstruction market trends, key players, market segments, application areas, and market growth strategies.
Nose Reconstruction Market Report Highlights
| Aspects | Details |
 By End User |
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 By Type |
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 By Treatment |
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 By Region |
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 Key Market Players | Sunset Cosmetic Surgery, GC Aesthetics, Surgiform Technologies LLC, Stryker, Implantech, Grover Aesthetics |
Analyst Review
According to the insights of CXOs, surge in usage of cosmetic procedures, surge in cases of accident across the world, and advancements in new device launches are all attributed propel growth of the nose reconstruction market.
CXOs further added greater consumer awareness and demand for preventive healthcare services, escalating demand for healthcare services from overall population, and new advancements are predicted to broaden nose reconstruction devices clinical Treatments and increase the number of product approvals. Furthermore, increase in incidences by birth disorders contributes toward growth of the market.
The market gains interest of healthcare companies owing to focus on preventive facilities provided to patients who are undergoing nose plastic surgery. This leads to increase in utilization for nose reconstruction devices; thus is a great opportunity that further propels growth of the market.
North America is expected to witness highest growth, in terms of revenue owing to rise in geriatric population, presence of key players, and advancements in healthcare investments. Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register fastest CAGR during the forecast period owing to increase in number of cosmetic surgeries and unmet needs for advanced surgical clamps devices. However, high cost associated with nose reconstruction devices restrain the market growth during the forecast period.
North America is the largest regional market for Nose Reconstruction Market
The upcoming trends in the Nose Reconstruction Market are increase in the number of road accidents and injuries; a rise in government initiatives for the development of the pharmaceutical and medical device industry and an increase in the number of product approvals for nose reconstruction
The top companies to hold the market share in Nose Reconstruction Market are Abbvie Inc., COMEG Medical Technologies, GC Aesthetics, Grand Aspeo, Implantech Associates
The total market value of the Nose Reconstruction Market is $6,085.92 Million in 2030
The market value of the Nose Reconstruction Market in 2020 was $3,306.28 million in 2020
No, there is no value chain analysis provided in the Nose Reconstruction Market report
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