ENT Devices Market Overview
Market Research Future (MRFR) reports that ENT Devices Market will exhibit a compound annual growth rate of 6.2% during the forecast period (2018-2023). ENT Devices Market Research Report: By Product (Diagnostic (Endoscopes, Hearing Screening) & Surgical (Powered Surgical, Balloon Sinus Dilation, & others))), End User.
ENT conditions are common across the globe. Some of the common ENT conditions include nasal polyps, hearing loss, muscle tension dysphonia, sinusitis and vocal fold paralysis. Many of the ENT conditions require the patient to use ENT device for treatment or assistance. Improving reimbursement policies in healthcare in both advanced and developing countries is having positive influence on the global ENT devices market size. Other factors that are influencing the market include rising geriatric population, growing prevalence of chronic sinusitis, arrival of minimally invasive ENT procedures and increased cosmetic ENT procedures.
ENT Devices Market Segmental Overview
MRFR’s report covers a detailed segmental analysis of the Global ENT Devices Market on basis of end user, product and region.
By end user, the market has been segmented into ambulatory settings, research and academic institutes, hospitals, home care settings, ENT clinics, and others.
Based on product, the market has been segmented into surgical devices, hearing implants, image-guided surgery systems, diagnostic devices, Co2 lasers and hearing aids. The diagnostic devices segment covers hearing screening devices and endoscopes (flexible endoscopes and rigid endoscopes). Types of flexible endoscopes considered for the study are nasopharyngoscopes, laryngoscopes, rhinoscopes and pharyngoscopes. Types of rigid endoscope segment considered for the study are sinuscopes and otoscopes. The surgical devices segment covers radiofrequency (RF) handpieces, balloon sinus dilation devices, ear tubes, powered surgical instruments, voice prosthesis devices, handheld instruments (otology instruments, laryngeal instruments, head and neck surgery instruments, rhinology instruments, and others), and ENT supplies (nasal stents, splint, and packing material).
Presence of a large Number of Market Participant Continues to Favor the North America Market
MRFR’s study covers the global ENT Devices Market across Europe, Asia Pacific (APAC), South America, North America and the Middle East & Africa (MEA). North America and South America collectively account for the largest market share in terms of revenue. Between the two, North America holds the larger share. Several ENT device vendors operate in the US and Canada. The North America ENT devices market is characterised by a number of market players. The competition in the region’s market has heightened in recent years, making it more dynamic. In recent years, incidence of hearing loss has increased in the region partly owing to the rising geriatric population. In 2017, The Hearing Journal released a data, which revealed that close to 44 Mn Americans over the age of 20 are likely to incur hearing loss by 2020.
The Europe ENT devices market is also expected to witness a healthy growth during the forecast period. In terms of revenue, Europe held the second spot in 2017. Technologically advanced countries coupled with the strong R&D pipeline in the ENT devices industry supports the market growth in Europe.
Asia Pacific is viewed as an emerging market for ENT devices. In fact, the market in APAC is projected to exhibit a highest growth over the next couple of years. Rising healthcare expenditure and increased efforts to deliver affordable care are among the key factors that are propelling the market forward. As per the data released by Australian Institute of Health and Welfare, the Australia spent close to USD 181 Bn on healthcare between 2016 and 2017.
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ENT Devices Market Competitive Analysis
Some of the key players in the global ENT devices market are Atos Medical AB, Cochlear Limited, Hoya Corporation, Johnson & Johnson Services, Inc., Karl Storz Gmbh & Co. Kg, Medtronic PLC, Olympus Corporation, Rion Co. Ltd, Siemens Healthcare, Smith & Nephew PLC, Sonova Holding AG, Starkey Laboratories Inc., Stryker Corporation, Widex A/S, William Demant Holding A/S, and others.