Global ENT Devices Market to Reach $25,127. 7 Million by 2030. Market Report Coverage - ENT Devices Market Segmentation. • Procedure Type - Flexible Transoral and Transnasal Procedures (Diagnosis and Intervention), Turbinate Reduction and Endoscopic Polyp Removal, and Tympanostomies and Vent Tube Operations.
New York, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "ENT Devices Market - A Global and Regional Analysis: Focus on Procedure, End User, Product Type, and Country-Wise Analysis - Analysis and Forecast, 2021-2030" - https://www.reportlinker.com/p06220419/?utm_source=GNW
• End User - Hospitals, ENT Clinics, Ambulatory Centers, and Others
• Product Type - Diagnostic Devices, Surgical Devices, Hearing Aids, Visualization Devices, Surgical Shavers and Debriders, and Others
• North America - U.S. and Canada
• Europe - Germany, U.K., France, Italy, and Rest-of-Europe
• Asia-Pacific - Japan, China, India, Australia, and Rest-of-Asia-Pacific
• Rest-of-the-World - Latin America and Middle East and Africa
Market Growth Drivers
• Growing Prevalence of Hearing Disorders
• Growing Technology Integration in ENT Devices
• Growing Preference for Minimally Invasive Procedures in ENT Specialty
• High Cost of ENT Procedures
• Social Stigma Associated with Hearing Disorders
• Emergence of Regional ENT Device Manufacturers
• Synergies Between Local Healthcare Authorities and Key Medical Device Companies
Key Companies Profiled
Ambu A/S, Atos Medical Ab, Boston Scientific Corporation, Cochlear Limited, Demant A/S, Eckert & Ziegler BEBIG AG, HOYA Corporation, Johnson & Johnson, KARL STORZ SE & Co. KG, Medtronic plc, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Plc, Sonova Holding AG, Stryker Corporation
How This Report Can Add Value
Assuming that the readers are the manufacturers of ENT devices market, they will be able to do the following:
• Understand their position compared to some of the key players in the market
• Stay updated with novel technology integration, features, and the latest developments in the market
• Understand the impact of COVID-19 on the adoption of ENT devices and the entry barriers because of it
• Gain insights into end-user perception with respect to the adoption of ENT
• Identify some of the key players in the market and understand their valuable contribution
Key Questions Answered in the Global ENT Devices Market Report
• What are the key trends that have a strong influence on the global ENT devices market? How did the COVID-19 pandemic impact the growth of the ENT devices market?
• What are the key development strategies which are implemented by the key players to maintain and capture market share?
• How does the patent landscape of ENT devices look like?
• What are the major market drivers, challenges, and opportunities in the global ENT devices market?
• Which leading companies are dominating the global ENT devices market?
• What are the regulations about the global ENT devices market?
• What was the market value of the leading segments and sub-segments of the global ENT devices market?
• How is each segment of the global ENT devices market expected to grow during the forecast period, and what is the expected revenue to be generated by each of the segment by the end of 2030?
• Which region carries the potential for the significant expansion of key companies for the ENT devices market?
Global ENT Devices Market Industry Overview
ENT devices are used for diagnosing and treating various disorders of the ear, nose, and throat. The devices can be classified into diagnostic devices, surgical devices, visualization devices, hearing aids, surgical shavers and debriders, and others.
The global ENT devices market is witnessing a high degree of technology integration over the past years.The market comprises various key medical device companies and local companies.
The major factors that have a positive impact on the market’s growth include the growing prevalence of hearing disorders, growing technology integration in ENT devices, and growing preference for minimally invasive procedures in ENT specialty.
During COVID-19, the growth of the ENT devices market was negatively impacted, especially in 2020. Although the market recovered quickly in the last quarter of 2020 and the telehealth integration in ENT specialty was a positive impact of COVID-19 on the market.
The global ENT devices market report highlights that the market was valued at $13,799.5 million in 2020 and is expected to reach $25,127.7 million by the end of 2030. The market is expected to grow at a CAGR of 6.12% during the forecast period from 2021 to 2030.
Global ENT Devices Market Drivers
The factors driving the growth of the market include the growing prevalence of hearing disorders, growing technology integration in ENT devices, and growing preference for minimally invasive procedures in the ENT specialty.The growing prevalence of hearing disorders is the major driver for the market in established and emerging economies.
For instance, according to a study published in The Lancet in March 2021, titled, ‘Hearing Loss Prevalence and Years Lived with Disability, 1990–2019: Findings from The Global Burden of Disease Study 2019’, approximately 1.5 billion people suffered from hearing disability globally in 2019. This infers that one in every five people suffered from a form of hearing disability globally. Furthermore, hearing disability is the third common factor for years lived with disability (YLDs) in the global population. The prevalence of hearing loss is projected to grow over the coming decade. According to World Health Organization (WHO), the number of people suffering from disabling hearing loss (DHL) can grow up to 630 million in 2030 and over 900 million by 2050.
Consequently, the rising prevalence of hearing disorders will propel the adoption of hearing aid treatments and advance the growth of the global ENT devices market.
Global ENT Devices Market Challenges
The factors restraining the growth of the global ENT devices market include the high cost of the ENT procedures and the social stigma associated with hearing disorders.The high cost has limited the procedure volume in emerging as well as developed economies.
For instance, according to a study published in NCBI in 2018, titled, ‘Health Care Costs and Cost-Effectiveness in Laryngotracheal Stenosis’, treatment of laryngotracheal stenosis (LTS) is one of the expensive ENT procedures. The mean annual cost associated with the disease was $4,080.09. Furthermore, according to another study titled, ‘Comparison of the Financial Burden of Survivors of Head and Neck Cancer with Other Cancer Survivors’, which was published in March 2019, patients getting treatment for head and neck cancer bear higher expenses as compared to other cancer patients. Also, these patients bear higher out-of-pocket costs. Thus, the high cost of the procedures and lack of reimbursement harm the growth of the global ENT devices market.
Global ENT Devices Market Opportunities
Emerging of regional ENT devices manufacturers and synergies between local healthcare authorities and key medical device companies are the major opportunities in the global ENT devices market.The key companies operating in the market can expand in emerging economies by partnering with local healthcare authorities.
Such synergies will enable the companies to penetrate the markets effectively and expand their customer base. For instance, Cochlear Limited partnered with The Royal Victorian Eye and Ear Hospital in the U.K. for the development of Geelong Cochlear Care Centre. The center is the first care center of Cochlear Limited in the U.K. and is projected to improve the company’s presence in the country.
Impact of COVID-19 on the Global ENT Devices Market
During COVID-19, the growth of the ENT devices market was negatively impacted, especially in 2020.Although the ENT facilities continued to operate, the sales of the companies were negatively impacted.
Nonetheless, the market grew minimally in 2020 and is projected to witness considerable growth during the forecast period 2021-2030. The increasing technological innovations in the global market and growing adoption in emerging economies are the factors for the growth of the market.
Global ENT Devices Market (by Procedure)
The global ENT devices market, on the basis of procedure, has been segmented into flexible transoral and transnasal procedures, turbinate reduction and polyp removal, and tympanostomies and vent tube operations.
The flexible transoral and transnasal procedures accounted for the highest share of the market, which can be attributed to advancements in ENT devices.
Global ENT Devices Market (by End User)
The global ENT devices market, on the basis of end users, has been segmented into hospitals, ambulatory centers, ENT clinics, and others.
Hospitals are at the forefront in terms of ENT devices adoption. The increasing focus on evidence-based care has been one of the strongest drivers for the adoption of ENT.
The growing prominence for outpatient surgeries and rising establishments of ambulatory centers are the leading factors promoting the market’s growth for the global ENT devices. The adoption of ENT devices in ambulatory surgical centers can be boosted by prioritizing the increasing demand for minimally invasive surgeries.
Global ENT Devices Market (by Product Type)
The global ENT devices market, on the basis of product type, has been segmented into diagnostic devices, surgical devices, hearing aids, visualization devices, surgical shavers and debriders, and others.
Hearing aids is the largest product segment in the market, and the trend is projected to continue during the forecast period 2021-2030. Furthermore, surgical devices is projected to be the fastest-growing segment owing to the growing technological advancements in the ENT specialty.
Global ENT Devices Market (by Region)
The different regions covered under the global ENT devices market include North America, Europe, Asia-Pacific, and Rest-of-the-World.
North America dominates the global ENT devices market due to the high prevalence of hearing disorders, growing geriatric population, and high reimbursement rates.The Asia-Pacific ENT devices market is one of the lucrative markets with immense potential for expansion by key players of the global ENT market.
The Asia-Pacific ENT devices market is expected to grow at the fastest rate in the forecast period, and this can be attributed to the massive geriatric population base, driving the demand for minimally invasive and non-invasive surgical procedures.
Key Market Players and Competition Synopsis
Some of the key players operating in the market include Ambu A/S, Atos Medical Ab, Boston Scientific Corporation, Cochlear Limited, Demant A/S, Eckert & Ziegler AG, HOYA Corporation, Johnson & Johnson, KARL STORZ SE & Co. KG, Medtronic plc, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Plc, Sonova Holding AG, and Stryker Corporation.
Some of the strategies covered in this segment are funding activities, mergers and acquisitions (M&As), partnerships, alliances, and business expansion, regulatory and legal activities, and new offerings. The preferred strategy for companies has been launches of new products or new offerings followed by partnerships, alliances, and business expansion.
• North America
• Latin America
• Middle East and Africa
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