The Asia Pacific Nasal Packing Devices Market would witness market growth of 6.3% CAGR during the forecast period (2022-2028).
Nasal packing works by applying direct pressure to the nose, reducing mucosal irritation, which reduces bleeding, and forming a clot around the foreign body, which increases pressure. The inner nasal membrane is densely packed with blood vessels that are vulnerable to injury because they are close to the surface. The internal carotid arteries' ethmoid branches, as well as the internal and facial maxillary divisions of the exterior carotid arteries, provide this vascular supply. Epistaxis occurs when the lining of the nasal membrane is disturbed or irritated, resulting in abnormal bleeding.
The nasal packing devices market in the Asia-Pacific is growing because of an aging population and significant technological advancements in the healthcare sector. The number of elderly adults in the Asia Pacific area is expanding at an unprecedented rate, according to the United Nations Population Fund, and the region is at the forefront of the worldwide population aging phenomena. In Asia and the Pacific, one in every four people is predicted to be over 60 years old by 2050. Between 2010 and 2050, the Asia Pacific region's population of elderly individuals (those over 60) will triple, reaching about 1.3 billion people, encouraging the growth of the regional nasal packing device industry.
Moreover, according to the National Library of Medicines, in the last 50 years, India, the world's second-most populous country, has seen a tremendous demographic shift, with nearly a tripling of the population above the age of 60. This trend is estimated to continue. The proportion of Indians aged 60 and more is expected to climb from 7.5% to 11.1% in 2025. Due to the increasing geriatric population along with rapid technological advancements in Asia-Pacific, the regional market is estimated to significantly grow in the region.
The China market dominated the Asia Pacific Nasal Packing Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $18,673.5 Thousands by 2028. The Japan market is estimated to grow at a CAGR of 5.7% during (2022 - 2028). Additionally, The India market would witness a CAGR of 7% during (2022 - 2028).
Based on Product, the market is segmented into Spray, Gel, Injectable, and Dressings. Based on Type, the market is segmented into Non-absorbable and Bio-resorbable. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Nasal Packing Devices Market is Projected to reach USD 240.6 Million by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Smith & Nephew PLC, Medtronic PLC, Stryker Corporation, Olympus Corporation, Summit Health, Network Medical Products Ltd., Lohmann & Rauscher GmbH & Co. KG, Meril Life Science Private Limited, First Aid Bandage Company, and Aegis Lifesciences Pvt. Ltd.
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