Selbyville, Delaware, June 07, 2021 (GLOBE NEWSWIRE) —
According to latest report “Rhinoplasty Implant Market by Procedure (Surgical, Non-surgical), Gender (Female, Male), End-use (Hospitals, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of rhinoplasty implants will cross $2 billion by 2027.
Growing technological development in aesthetic procedures coupled with rising beauty consciousness will foster the market growth. Development in novel approaches to traditional rhinoplasty techniques is facilitated by novel nasal injectable and more efficacious nasal implants with minimum risks & longer outcomes. Advent of minimally invasive surgeries using dermal fillers enable faster stabilization and earlier recovery in patients. Integration of novel advanced technologies implementation such as computer-assisted planning and execution in complex rhinoplasty cases are augmenting the business expansion positively. Several industry players are emphasizing on the introduction of innovative technologies such as absorbable nasal implants that are used to support lower & upper lateral cartilage in the nose. These newer technologies related to rhinoplasty procedures improvise results, patient safety, and lower down costs. With a growing number of surgeries, advancements, and product development in rhinoplasty implants will amplify the market expansion during the forecast period.
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The non-surgical segment in the rhinoplasty implant market is anticipated to expand at 16.1% growth rate by 2027 owing to novel approaches that have been utilized in non-surgical rhinoplasty procedures to deliver enhanced outcomes. The advent of new developments allows new and existing businesses to deal with issues concerning uneven cartilage, a droopy nose tip, and nose sagging. Non-surgical nose job is performed using injectable fillers to attain a more symmetrical look to the nose. The non-surgical procedure is a widely preferred option for patients scared of surgical rhinoplasty implants treatment. This liquid rhinoplasty is a modern approach to traditional nose reshaping procedures that are used to temporarily address problems such as asymmetry, small bump, a droopy nasal tip, etc.
The rhinoplasty implant market for female segment exceeded USD 585 million in 2020 led by the easy accessibility to minimally invasive procedures and board-certified surgeons. Technical procedures used during rhinoplasty procedures continue to offer safer and more reliable outcomes with surgical and non-surgical options. The rising beauty consciousness among women is further driving the rising demand for these treatments. As per the survey conducted in 2019, the top motivation for this procedures were to enhance self-confidence and look beautiful. Nonsurgical treatments are an especially rapidly evolving and suitable alternative for working women due to quick results and a high satisfaction rate with minimal side effects. This female desire coupled with changes in the technical aspects of aesthetic procedures across the globe will stimulate the market demand in the coming years.
The hospital segment in the rhinoplasty implant market accounted for more than USD 318 million in 2020 impelled by high level of monitoring offered by hospitals for patients with high dosages of medications for anesthesia. Excellent doctor-to-patient ratios, upscale amenities, and faster access to the best medical specialists in these facilities increase the preference for these procedures being performed at hospitals.
Brazil dominated the Latin America rhinoplasty implant market and was valued at over USD 75 million in 2020 and is poised to progress at a significant CAGR of 17.9% by 2027 on account of the surging number of medical tourists visiting Brazil for rhinoplasty implants treatment and a high number of cosmetic surgeries performed every year. As per the World Health Organization, Brazil has one of the well-equipped healthcare systems. Key strengths of Brazil medical facilities are JCI-accredited hospitals, high quality of healthcare service in private hospitals, and international reputation for excellence in cosmetic surgery. In public hospitals of Brazil, plastic surgeries are free or low-cost, and the government subsidizes nearly half a million surgeries annually. Brazil’s success in private healthcare delivery has led to strong competition with a focus on skill-upgradation, certifications, and medical facilities.
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Some of the major participants operating in the rhinoplasty implant market are Implantech, Koken, Surgiform Technologies LLC, Wanhe Plastics, Stryker, W.L. Gore Associates, Galderma, Allergan (AbbVie) among others. These companies are engaged in undertaking several strategies and working on expanding their product portfolio through focusing on research and development of innovative products.
Table of Contents (ToC) of the report:
Chapter 3 Rhinoplasty Implant Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
18.104.22.168 Growing beauty consciousness
22.214.171.124 Technological advancement in aesthetic procedures
126.96.36.199 Rising demand for non-invasive rhinoplasty
3.3.2 Industry pitfalls & challenges
188.8.131.52 Lack of skilled professionals
3.4 Growth potential analysis
3.4.1 By procedure
3.4.2 By gender
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2020
3.7.1 Competitive matrix analysis
3.8 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.