Internal Nasal Dilators Market is Estimated to Witness High Growth Owing to Opportunity to Treat Sleep Apnea
Internal Nasal Dilators are adhesive strips or medical devices worn over the nose to prevent nasal airway collapse and obstruction during sleep or exercising. They help improve nasal breathing and are commonly used as a non-invasive treatment for sleep apnea. Nasal dilators help keep the nasal passages open by gently exerting outward pressure on the exterior walls of the nose. They come in varied designs including vertical, cruciform, and winged dilators made of flexible materials like silk, fabric or medical-grade adhesives that enhance comfort.
The global Internal Nasal Dilators Market size is estimated to be valued at US$ 10.11 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The rising incidence of sleep-disordered breathing including obstructive sleep apnea (OSA) presents a lucrative opportunity for Internal Nasal Dilators. OSA affects over 25 million Americans and is associated with increased risks of hypertension, heart disease and diabetes. Nasal dilators are an effective first-line treatment option for mild to moderate OSA as they help increase nasal airflow and decrease nasal airway resistance during sleep. With growing awareness about sleep apnea and availability of inexpensive wearable nasal strips, their demand is expected to surge considerably over the forecast period. Their adherence, comfort and non-invasive nature make them an attractive alternative to CPAP machines commonly prescribed for OSA, thus supporting revenue growth of this market.
Porter’s Analysis
Threat of new entrants: Low as the market requires specialized medical device manufacturing capabilities and regulatory approvals which make entry difficult.
Bargaining power of buyers: Moderate as switching costs are low given the availability of substitute nasal dilators. However, brand loyalty remains an important customer retention factor.
Bargaining power of suppliers: Low due to the availability of multiple component and raw material suppliers globally. Raw material prices are stable.
Threat of new substitutes: Low as nasal dilators have few alternatives for obstruction treatment and provide convenience over medicated solutions.
Competitive rivalry: High among existing players to gain market share and expand their product portfolios organically or via acquisitions.
SWOT Analysis
Strengths: Established brands and distribution networks help leaders meet demands efficiently. Nasal dilators provide non-invasive treatment for certain obstructions.
Weaknesses: Smaller companies have limited resources for R&D and marketing. Poorly designed products may cause discomfort reducing compliance.
Opportunities: Growing cases of nasal obstruction worldwide presents an expanding customer pool. Device innovations focused on comfort can boost adoption.
Threats: Stringent regulations around medical devices increase compliance costs. Reimbursement policies influence product affordability.
Key Takeaways
The global Internal Nasal Dilators market is expected to witness high growth supported by increasing incidence of snoring and nasal obstructions. The North American region currently dominates due to advanced healthcare infrastructure and awareness. Key players operating in the Internal Nasal Dilators market are Becton, Dickinson and Company, Gerresheimer AG, Sharps Technology, Inc., Cardinal Health, lomMedical, MHC Medical Products, LLC, Sol-Millennium, UltiMed Inc., VOGT MEDICAL, Retractable Technologies, Inc., Dmcmedical, BIOCORP, Hindustan Syringes & Medical Devices Ltd, Owen Mumford Ltd., B. Braun SE, Terumo Europe NV, Smiths Group plc, Merit Medical Systems, Nipro Corporation, GPC Medical Ltd.
Regional analysis indicates North America’s leadership attributed to high healthcare spending and reimbursement coverage for nasal dilators. Growing acceptance of non-invasive treatments will further aid the region in attaining over 35% market share by 2030. Asia Pacific is poised to witness the fastest growth at 13% CAGR over the forecast period supported by developing economies expanding healthcare infrastructure.
Key players operating in the Internal Nasal Dilators market are Becton, Dickinson and Company, Gerresheimer AG, Sharps Technology, Inc., Cardinal Health, lomMedical, MHC Medical Products, LLC, Sol-Millennium, UltiMed Inc., VOGT MEDICAL, Retractable Technologies, Inc., Dmcmedical, BIOCORP, Hindustan Syringes & Medical Devices Ltd, Owen Mumford Ltd., B. Braun SE, Terumo Europe NV, Smiths Group plc, Merit Medical Systems, Nipro Corporation, GPC Medical Ltd., AdvaCare Pharma. Major
