Nasal Dilators Market Size, Share & Growth | Forecast [2031]

Report Description

Nasal Dilators Market Market Outlook:

The Global Nasal Dilators Market was estimated at USD 138.5 million in 2020 and is anticipated to reach USD 261.7 million by 2028, expanding at a CAGR of 8.8% during the forecast period. A nasal dilator is a device that enlarges the nasal passages to allow more air to flow through them.

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It has a high-quality, minimizes snoring, assists enhance sleep, and relieves nose congestion, due to allergies, colds, & a deviated septum. Some nasal dilators are introduced into the narrowest region of the nasal passageways to dilate or push the nasal canals open for better airflow.

Macro-economic Factors

Technological Advancement

Major key players in almost all industries depend on the creation and innovative products. Companies are focusing on R&D investment for technologically advanced products and product development. Increasing expenditure on the advancement of technology is leading to the development of products.

Coronavirus

The global nasal dilators market was negatively impacted by the covid-19, due to the supply chain and market disruption, and had a financial impact on industries and financial markets. However, demand for nasal dilators upsurged rapidly during the pandemic, owing to rising chronic respiratory disorders, and sinus conditions. This result boosts the growth of the market. Increasing efforts by governments and private sector companies to overcome the crisis and rising production capacity in each industry are expected to propel the demand for these products, post-2020.

Nasal Dilators Market Market Dynamics

Market Driver

Rising geriatric population

The nasal dilator market is driven by the rising geriatric population. Snoring is common among people as a result of allergies, colds, inhalational medication, breathing problems such as moderate nasal airway blockages, as well as sleep disorders such as Obstructive Sleep Apnea (OSA). Which is expected to propel the market growth.

Growing prevalence of respiratory disorders           

The market is anticipated to be driven by a rising incidence of respiratory disorders and obesity, which leads to excessive snoring. According to the World Health Organization, asthma affects early 235 million people and the more popular among children. Chronic Obstructive Pulmonary Disease (COPD) affects more than 90% of people in low- and middle-income nations. According to the Center for Disease Control and Prevention, obesity occurrence in adults was 42.4% in 2017-2018.

Market Restraint

Strict regulatory policies

Restraining factors in the market are attributed to the strict regulatory environment and the lack of reusability of certain dilators. Lack of awareness about sleep disorders in some emerging countries is projected to hamper the market growth.

Market Opportunity

Increasing investments by governments

Rising investment from government organizations in emerging countries is boosting the up-gradation of healthcare infrastructure, which is expected to expand access to the healthcare sector. In developing countries, governments are continuously funding improving the quality and efficiency of nasal dilator devices, which is estimated to drive the market.

Scope of Nasal Dilators Market Report   

The report on the global nasal dilators market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Nasal Dilators Market Segmental Outlook

Based on types, the market is segmented into external & internal. The external segment holds a substantial share of the market during the forecast period due to rising consumer demand worldwide.

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Based on applications, the market is fragmented into snoring, deviated septum, sleep apnea, sinusitis, & chronic stuffy nose. The snoring segment is likely to retain a key share of the market, as snoring is a common problem among 44% of men and 28% of women between the ages of 30 years and 60 years.

Based on age group, the market is fragmented into adults and children. The Adults category held a considerable share of the market over the forecast period, due to rising stress, insomnia in the young population, and growing demand for nasal dilators across the globe.

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Based on the sales channel, the market is fragmented into online & offline. The offline distribution channel segment is expected to grow in the forecast period, as customers prefer to check the products and make purchases through offline distribution channels during the forecast period.

Nasal Dilators Market Regional Outlook

Based on regions, the market is separated into namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for a significant share of the market, due to the high prevalence of respiratory disorders in the region.

In 2020, Europe is anticipated to account for a large share followed by North America in the global market, owing to the presence of major industry competitors and early adoption of technologies that are projected to propel the market in the region.

The nasal dilator market in Asia Pacific is projected to expand at a rapid rate throughout the forecast period, owing to growing population and increasing number of people suffering from obesity, which is driving the demand for these devices.

Upsurged amount of significant research and development investments by key players in Africa to expand the healthcare business is expected to fuel the market growth.

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