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The global rhinoplasty market size is expected to reach USD 11.01 Billion in 2032, and register a revenue CAGR of 8% during the forecast period.

NEW YORK, NEW YORK, UNITED STATES, May 9, 2023 /EINPresswire.com/ -- In 2022, the global Rhinoplasty Market was valued at USD 5.51 billion, with an estimated CAGR of 8% from 2022 to 2032, expected to reach USD 11.01 billion. The market's growth is attributed to the increasing demand for cosmetic surgery, the high occurrence of nose deformities and respiratory illnesses, and the advancements in surgical techniques. Rhinoplasty is a popular cosmetic surgery for individuals who desire an improved facial appearance. Additionally, the use of computer-aided design and three-dimensional imaging, as well as the application of minimally invasive procedures, have enhanced surgical precision and reduced post-operative discomfort.

The growth of the rhinoplasty market is expected to continue due to the increasing awareness of the benefits of rhinoplasty, rising demand for minimally invasive treatments, and the growing number of qualified doctors. However, challenges such as the high cost of surgery, potential complications, and the difficulty in finding skilled surgeons can hinder market growth. Nonetheless, the adoption of telemedicine and virtual consultations is expected to drive market revenue growth in the coming years, allowing patients to receive personalized treatment plans without leaving their homes.

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Segments Covered in the Report –
This report provides a comprehensive analysis of the global rhinoplasty market from 2019 to 2032, with a focus on historical data and future revenue growth at the global, regional, and country levels. The report also examines market trends within each of the sub-segments: procedure type, end-use, and region.

The global rhinoplasty market is segmented based on two procedure types: open rhinoplasty and closed rhinoplasty. Both of these types of rhinoplasty aim to reshape and improve the appearance and function of the nose. The report provides revenue forecasts for both open and closed rhinoplasty from 2019 to 2032.

The end-use segment of the rhinoplasty market is also analyzed in this report. The two major end-use segments are cosmetic and reconstructive. The cosmetic end-use segment is driven by people's desire to improve their appearance, while the reconstructive end-use segment focuses on correcting nose deformities and respiratory problems. The report provides revenue forecasts for both end-use segments from 2019 to 2032.

The report also provides regional revenue forecasts for the global rhinoplasty market from 2019 to 2032. The regions analyzed in this report are North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Within each of these regions, the report provides revenue forecasts for each country, including the United States, Canada, Mexico, Germany, the United Kingdom, France, Italy, Spain, Sweden, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, Israel, and the rest of MEA.

The global rhinoplasty market is expected to see strong revenue growth in the coming years due to the increasing demand for cosmetic surgery, as well as the prevalence of nose abnormalities and respiratory diseases. Improvements in surgical methods and technology are also contributing to market growth, as the accuracy and precision of rhinoplasty procedures have increased, making them safer and more efficient. However, the high cost of surgery and the possibility of complications may pose obstacles to market growth. Despite these challenges, the rhinoplasty market is expected to expand as more people seek minimally invasive treatments, and as telemedicine and virtual consultations become more widely available.

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Strategic Developments:
Allergan, in January 2022, introduced its new product, Juvéderm Voluma XC, which is specially designed to add volume to the cheeks and jawline. The product launch is expected to enhance Allergan's market presence and revenue in the Rhinoplasty market.

Stryker Corporation announced its acquisition of Wright Medical Group N.V., a global medical device company, in 2021. The acquisition is anticipated to boost Stryker's product portfolio in the Rhinoplasty market.

Johnson & Johnson Services, Inc. launched its new Rhinoplasty product, Vistabel, in the European market in 2021. Vistabel is a non-surgical Rhinoplasty product that is expected to generate considerable revenue for Johnson & Johnson in the Rhinoplasty market.

In 2020, Smith & Nephew plc acquired Integra LifeSciences Corporation's Extremity Orthopedics business, which is expected to improve Smith & Nephew's product portfolio in the Rhinoplasty market.

TEI Biosciences, Inc. launched SurgiMend PRS Mesh in 2020, which is designed to enhance the outcome of Rhinoplasty procedures. The product is expected to increase TEI Biosciences' market presence and revenue in the Rhinoplasty market.

Integra LifeSciences Corporation launched Rhinomesh, a bioresorbable implant used to support and stabilize nasal cartilage during the healing process, in 2021.

B. Braun Melsungen AG launched Rhino-Laryngo Videoscope in 2021, a product that provides a clear view of the nasal and laryngeal regions during Rhinoplasty procedures.

Zimmer Biomet Holdings, Inc. launched NiteOwl Scopes, a product that provides clear visualization during Rhinoplasty procedures in low light conditions, in 2020.

KLS Martin Group launched the Contour 2D Spacer in 2020, a product that offers stability and support to the nasal septum during Rhinoplasty procedures.
ConMed Corporation launched the Sabre Ultrasonic Rhinoplasty System in 2020, a product that provides precise and controlled cutting during Rhinoplasty procedures.

Competitive Landscape:
The global rhinoplasty market is a fiercely competitive and fragmented market with many large and medium-sized players competing for market share. In this market, major players are implementing various strategies such as mergers and acquisitions, strategic agreements and contracts, and developing and introducing more effective products to maintain their market position and expand their reach.

Some of the major players operating in the global rhinoplasty market include Allergan, Stryker Corporation, Johnson & Johnson Services, Inc., Smith & Nephew plc, TEI Biosciences, Inc., Integra LifeSciences Corporation, B. Braun Melsungen AG, Zimmer Biomet Holdings, Inc., KLS Martin Group, ConMed Corporation, and Medtronic.

Allergan, for example, recently launched a new product, Juvéderm Voluma XC, designed to provide volume to the cheeks and jawline, which is expected to increase their market presence and revenue in the rhinoplasty market. Similarly, Stryker Corporation's acquisition of Wright Medical Group N.V. is expected to strengthen their product portfolio in the rhinoplasty market.

These companies are striving to develop more effective products and expand their reach in this market, as the demand for rhinoplasty procedures continues to grow globally. With these strategic initiatives and technological advancements, the global rhinoplasty market is expected to see significant growth in the coming years.

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Nikhil Morankar
Reports and Data
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