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 conducted by various research organizations reported that epistaxis can be treated effectively even with simple medications. For instance, according to the case study published in the Journal of American Medical Association in September 2016, around 121 patients with epistaxis sprayed either saline or standard medications such as estriol or tranexamic acid, which exhibited equal results leading to the discovery of simple and highly effective treatment for emergency cases of epistaxis.
Furthermore, saline is easily available, as it is most common goods sold in almost every pharmacy, which in turn is expected to increase home care treatment and reduce doctor visits that will act as a point of benefit for customers. According to the Heart Foundation, in 2015, around 6 million people in Australia aged 18 years and above suffered from either systolic or diastolic blood pressure. High blood pressure is associated with risk of developing hypertension, which is leading cause for epistaxis among adult population. Increasing demand for epistaxis treatment is expected to creating lucrative opportunities for the market players over the forecast period with introduction of cost-efficient as well as innovative devices.
Key Takeaways of the Epistaxis Market:
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