Global Epistaxis Market is projected to expand at a CAGR of 5.7%
The Global Epistaxis Market was valued at US$ 130.0 million in 2016 and is projected to expand at a CAGR of 5.7% during the forecast period (2017–2025),as highlighted in a new report published by Coherent Market Insights.Increase in the concentration of harmful chemicals and gases in the atmospheric composition is expected to be one of the major factors driving the growth of global epistaxis market over the foreseeable future.
Epistaxis is a commonly encountered clinical condition that results in uncertain nose bleeding from either of the nostrils. Epistaxis that is usually categorized as anterior and posterior epistaxis is rarely fatal and serious unless major disorders such as cancer or leukemia are associated with it. According to an article published by Life in the Fast Lane in 2011, nosebleeds commonly occur between the ages of 2-10 and 50-80 years, out of which the 50-80 contributes a major part. Thus, the increasing number of geriatric population is also responsible for boosting the growth of global epistaxis market. The same article states that emergency physicians report 90% success rate at treating acute epistaxis in the emergency department itself and the rest 10% is the cases requiring further management and assessment that can be categorized as critical cases. Epistaxis is known to be caused by local trauma that includes nasal or sinus infection and even extensive nose-picking. The environmental factors leading to epistaxis include dry and cold conditions, especially during winters or lack of humidity in the atmosphere that is usually encountered in the tropical regions. Several other factors causing epistaxis include platelet disorders, neoplasm, endometriosis, solvent inhalation, cocaine snorting, and consumption of anticoagulants.
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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. Saline is easily available, as it is one of the basic goods sold at almost every pharmacy. This will, in turn, lead to enhancement of home care treatment and reduce doctor visits that will act as a point of benefit for the customers. According to the Heart Foundation, around 6 million people in Australia aged 18 years and above suffered from either systolic or diastolic blood pressure in 2015. The high blood pressure carries a dramatic risk for hypertension, which is the leading cause for epistaxis, mostly among the adult population. 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 sales with the introduction of cost-efficient and innovative devices.
Key Takeaways of the Epistaxis Market:
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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