Nose Reconstruction Market Expected to Reach $6.1 Billion by 2030

According to a new report published by Allied Market Research, titled, “Nose Reconstruction Market," The nose reconstruction market was valued at $3.3 billion in 2020, and is estimated to reach $6.1 billion by 2030. Nose reconstruction is performed to change the shape of the disfigured nose due to accidents or birth defects. Furthermore, various people are suffering from conditions like a crooked nose or the presence of smooth a prominent bump in the bridge of the nose, r It is a type of plastic surgery that corrects deviated septum, which can be achieved by adjusting the nasal structure to produce better alignment.  

Factors that drive the Rhinoplasty Market growth are an increase in the prevalence of 3D imaging and model reconstruction of nasal cartilage. In addition, ultrasonic rhinoplasty involves the process of reshaping the nose by using ultrasonic devices. Ultrasonic devices protect the surrounding tissues of the nose. The rise in technological advancements in nose reconstruction devices propels the growth of the market. In addition, liquid rhinoplasty is a non-surgical alternative for nose reconstruction. It uses dermal fillers that change the shape of the nose. According to the American plastic surgeons features a new study includes an analysis of 5,000 non-surgical rhinoplasties were performed from 2015 to 2019.  Further, the FDA aims to enhance the availability of appropriate, reliable, and accurate nose reconstruction devices to meet public health needs and increase access to treatments for consumers.

Rhinoplasty Market trends are  the rise in the development of pharmaceutical and medical device industries and improvement in healthcare spending is anticipated to drive the growth of the nose reconstruction market. In addition, an increase in demand for performing nasal surgeries led to the development of innovative instruments in the healthcare sector, thereby propelling the growth of the market.

Moreover, initiatives taken by governments for the development of nose reconstruction devices and the development of the healthcare sector for manufacturing nose reconstruction of instruments are the key factors that boost thegrowth of the market. Furthermore, the surge in nose disorders led to an increase in the number of nasal surgeries propelling the growth of the market.

The rise in demand for plastic surgeries is attributed to driving the growth of the market. Nose reconstruction is one of the most popular cosmetic surgery procedures. Nose surgery is a highly individualized and exact technique a cosmetic surgeon can use depending on patients’ anatomy and desired changes. Thus, the presence of skilled professional surgeons is also expected to drive the substantial growth of the market during the forecast period.

The global nose reconstruction market is segmented on the basis of type, treatment, end-user, and region. On the basis of type, the market is divided into open rhinoplasty and closed rhinoplasty.  The open rhinoplasty segment dominated the market in 2020, and this trend is expected to continue during the forecast period owing to an increase in the number of nose reshaping cases, advancements in R&D activities in the pharmaceutical & medical device industries, and a surge in the adoption of nose reconstruction instruments.

By treatment, the Rhinoplasty industry is classified into augmentation, reduction, revision, fillers, and others. The augmentation segment acquired the top position in the market in 2020, and this trend is expected to continue during the forecast period owing to a large number of nose reconstruction devices offered by key players and an increase in the use of nose plastic surgery. As per end-user, the market is classified into hospitals, plastic surgery clinics, and others. The hospital segment led the market in 2020, and this trend is expected to continue during the forecast period owing to advancements in the healthcare sector and an increase in the number of nose reconstruction surgeries.

North America accounted for the majority of the global Rhinoplasty Market share in 2020  and is anticipated to remain dominant during the forecast period. This is attributed to rising in the prevalence of road accidents, an increase in the number of approvals for nose reconstruction devices, the presence of key players, and development in technology for healthcare in the region. Asia-Pacific is anticipated to witness lucrative growth owing to an increase in nasal surgeries, growth in health care expenditures, and a rise in the adoption of nose reconstruction products.

Key findings of the study

• By type, the open rhinoplasty segment was the highest contributor to the market in 2020.
• Depending on Treatment, the augmentation segment was the highest contributor to the market in 2020.
• As per end-user, the hospital segment was the highest contributor to the market in 2020.
• Region-wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.