SEATTLE, Sept. 25, 2017 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the Global Epistaxis Market (By drug type: vasoconstrictors, anesthetics, antibiotic ointments, cauterizing agents) was valued at US$ 130.0 million in 2016 and is projected to witness a CAGR of 5.7% over the forecast period (2017-2025). Increase in the concentration of harmful chemicals and gases in the atmospheric composition along with introduction of innovative treatment therapies is expected to be one of the major factors driving the growth of global epistaxis market over the foreseeable future.
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Key Trends and Analysis of the Epistaxis Market:
Recent studies have shown that epistaxis can be treated effectively even with simple medications. For instance, a case study published in the Journal of American Medical Association in September 2016, states that 121 patients with epistaxis sprayed either saline or standard medications for epistaxis such as estriol or tranexamic acid and surprisingly exhibited equal results leading to the discovery of a simple yet highly effective treatment for epistaxis emergency cases.
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Key players are involved in research and development of innovative epistaxis products. For instance, in 2016, Smith & Nephew launched a range of epistaxis devices with RAPID RHINO technology that has a blend of carboxymethylcellulose (CMC) within them exhibiting self-lubricating properties that provide gentle and even compression to the nasal area and helps in the quicker re-conformation of the nasal anatomy. Thus, the demand for epistaxis treatment is expected to witness dramatic growth in the near future, creating lucrative opportunities for the market players to grab more revenue with the introduction of cost-efficient and innovative devices.
Key Market Takeaways:
- The global epistaxis market is expected to expand at a CAGR of 5.7% during the forecast period (2016–2025), as there exists a huge market potential, especially in Asia Pacific, Middle East, and Africa
- Robust developments in cauterization procedures and rising number of patients suffering from hypertension are expected to drive the global epistaxis market
- Blunt trauma, nose picking, overly sensitive blood vessels in the nasal septum, common colds and flu, hypersensitivity, foreign body invasion into the nasal cavity, nasal tumors, anti-inflammatory medicines, consumption of anticoagulants, and snorting of cocaine are a few of the most commonly observed causes leading to epistaxis
- Some of the major players involved in the global epistaxis market include Smith & Nephew, Medline, Bristol-Myers Squibb Pharma Company, Ciron Drugs, and King Pharmaceutical, Inc.
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