The Septoplasty Market is there to witness remarkable growth in the forecast period. The existing scenario implies the consumerization of healthcare. In other words, technology is relieving the hospital staff from providing an appropriate level of the care needed, that too, in a better way. Data-driven diagnosis has seen the light of the day in wake of habits and requirements of smartphone-oriented patients. This would be the future of the healthcare vertical.
The Septoplasty market growth is primarily driven by technological advancement in septoplasty producers. For instances, on sept, 2019, Dr. Aaron Rogers and Specialized Ear Nose & Throat Associates, a leading medical practice in Otolaryngology located in Atlanta, announced more advance techniques in nasal surgery based in the office.
New techniques allow a broad range of corrective nasal surgery to be performed with only limited recovery in the office now. On the other hand, increase with the advent of technologically advanced treatment methods, such as 3D computer assisted techniques, is expected to drive the growth of septoplasty market.
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Further, increasing prevalence of empty nose syndrome is expected to boost the demand for septoplasty. According to American Society of Plastic Surgeons, up to 80 percent of Americans estimate that the septum, the bone and cartilage that runs up and down the middle of the nose, is off-centered.
However, risk associated with septoplasty such as excessive bleeding, poor healing of incisions and many others are expected to hamper the growth of septoplasty market.
COVID-19 which, originated in the city of Wuhan, Mainland China, has spread aggressively to evolve into a global pandemic involving more than 170 countries. This pandemic has affected lives across the economic, social and political sphere. Treating COVID-19 infected patients is the primary focus of doctors and physicians alike at the moment, as this infection has no available cure.
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Septoplasty Market: Segmentation
The global Septoplasty market is segmented on the basis of indication type, based on technique, end user and region.
Based on Indication Type, the Septoplasty market is segmented as:
- Deviated Nasal Septum
- Correction of Cleft Defects
- Enlarged Turbinates
- Others
Based on Technique, the Septoplasty market is segmented as:
- Closed Septoplasty
- Open Septoplasty
Based on End User, the Septoplasty market is segmented as:
- Hospitals
- Ambulatory Surgical Centers
- ENT (Ear, Nose, And Throat Specialists)
- Others
Based on the indication, deviated nasal septum is expected to increase the demand for septoplasty. This is due to for some people it is present at birth and other factors such as caused by an injury which include playing contact sports, not wearing seat belt while riding in a motorized vehicle and many others.
Based on the technique, the open septoplasty market is expected to show a robust growth over the market forecast, due to more precise diagnosis of septal deviation, improved visualization of the contributing factors, avoidance of mucosal tears, and visualization of the surgical fields for residents and operating room personnel are the benefits of using an open septoplasty technique.
Based on end user, the hospital segment is expected to hold the major share in terms of revenue during the market forecast, this is due to in most cases, either a hospital or surgical center conducts the procedure as an outpatient also quality health care is offered.
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Asia pacific is likely to witness the fastest growth during forecast period, due to the availability of low cost of procedures and improvements in healthcare facilities, attributed to growing disposable income coupled with medical tourism. China is among the top three countries to have the highest number of cosmetic surgeons, which is around 6.4 percent of the total number of cosmetic surgeons in the world, according to the International Society of Esthetic Plastic Surgery.Due to the affordability of medical services, the Middle East and Africa are expected to witness lucrative growth over the projected period, due to growing medical tourism.
Some examples of major key player operating at the global level for Septoplasty are,
- Medtronic plc.
- Intersect ENT Inc.
- Acclarent Inc.
- Olympus Corporation Smith & Nephew plc
- Entellus Medical Inc.
- dalENT Medical
- Jilin Coronado Medical Ltd.
- InAccel
These key players are focusing on increasing product portfolios by mergers and acquisitions for the improvement of products and for the improvement of their manufacturing capability.
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