ENT Devices Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025– Increasing Population with Hearing Disability and Increasing Awareness Regarding Management of ENT Related Disorders are the Key Driving Factors for Increasing the Growth of ENT Devices Market
ENT Devices Market is valued at USD 47.5 Million in 2018 and expected to reach USD 62.1 Million by 2025 with the CAGR of 3.9% over the forecast period.
With growing technological advancement and growing successful introduction and launch of novel products in the ENT devices market is expected to boost the market growth. Rising approvals for ENT devices and growing company’s efforts will also impact positively the market growth of ENT devices market. Additionally, successful products approvals by regulatory bodies and launch of amplifiers and hearing aids which are connected to mobile that allows healthcare professionals to track the mental health status and allows cognitive hearing of patients. The combination of technology with the ENT devices improves the accuracy by eliminating errors thus, increasing the adoption rate of the device. The promising regulatory conditions for ENT devices especially in the developing regions are expected to positively impact the market growth. Currently, the ENT market is in the development phase. Moreover, companies are making efforts to introduce novel products and create differentiation in products which will impacts positively to the company’s sales and ENT market growth. Furthermore, Medtronic plc has launched StealthStation technology on September 2017, which will be used for ENT procedures. StealthStation technology is an innovative surgical system used for the navigation of ENT anatomy. This technology has received FDA and CE mark approval. However, the high cost for ENT procedure is expected to hamper the market growth.
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ENT devises industry has shown huge growth from the past several years. In the 19th century, an era of frequent developments in ENT devices and procedures has been observed. In 1901, Hirschmann used modified endoscopes to diagnose maxillary sinus. In 1953, Zeiss Optical Company has introduced innovative binocular microscope which has boosted the performance for microscopic ear surgery. In 1960, cochlear implants were introduced in the ENT industry. Later in the 20th century, ENT industry has experienced strong innovative changes. Likewise, technological advancements observed in the field of otorhinolaryngology have led innovation in other fields such as endoscopy, radiology, and microsurgery. Use of this technical information for ENT devices development which has replaced the conventional ENT devices has contributed to the market growth of ENT devices.
ENT devices market report is segmented on the basis of product type, application, end-user, and region & country level. Based upon product type, ENT devices market is classified into diagnostic ENT devices, surgical ENT devices, auditory system, hearing screening device, hearing aids, nasal splints device, and tympanogram system. On the basis of end-user, the market is classified into hospitals, ambulatory surgical centers, ENT specialty clinics/ centers, and others.
The regions covered in this ENT devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of ENT Devices is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for ENT Devices Market Report-
The major players operating in the ENT devices market are Olympus Medical Systems, Medtronic plc, Cochlear Limited, Siemens Healthineers, Smith & Nephew plc, KARL STORZ GmbH & CO. KG, Stryker Corporation, Hoya Corporation, and Others.
Dalent Medical Secures $1.5 Million Round, Granted Patent Protecting New Medical Device for ENT Physicians
On 23rd July 2019, Dalent Medical, company based in Miami developing innovative Ear, Nose and Throat devices for ENT specialist and doctors has raised funding of around $1.5 Mn. Since 2018, the company has raised funding from a private investor of approximately $2 Mn. The additionally raised funds are used for the inventory production and to upgrade the company’s sales & marketing activities to support the Sinusleeve balloon, the first patent product. The balloon sinus dilation sleeve will be used to treat chronic sinusitis and used by ENT specialist. Chronic sinusitis is a condition affecting more than 30 Mn population in the U.S. The number of surgeries performed to treat chronic sinusitis is predicted to continue in the coming future due to the introduction of minimally invasive techniques to lower healthcare costs, improve patient experience, and assessable life quality improvements.
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Technological Advancements and User-Friendly are the Factors Expected to Drive the Growth of this Market
Advancement in the technology and user-friendly nature of ENT devices are projected to drive market growth. Furthermore, rising awareness regarding thermoplastic material used in the nasal splints production is gaining a lot of attention which leads to an increase in demand. Developing countries such as Brazil, South Africa, India, and China are expected to deliver major opportunities for the new market players and is expected to contribute to the growth of the market. However, the large number of unmet healthcare needs and facilities and lack of infrastructure is expected to hamper the market growth. According to WHO, the geriatric population with hearing disability rising rapidly. More than 33.0% geriatric population and almost 15.0% adult population have a hearing disability, worldwide. Moreover, According to the National Cancer Institute, there were around 13,500 registered new cases in 2015. The growing number of hearing disorders increasing the demand for better hearing devices which is estimated to grow in the coming years. Based on product type, Hearing aids are the largest segment.
North America is the most Prominent Market for the ENT Devices
Geographically, ENT Devices market report is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America market is expected to dominate the global market in terms of market share and market owing to the presence of established and advanced healthcare infrastructure coupled with promising government initiatives, and high levels of awareness among patients and healthcare professionals boosting the market in the region. The Asia Pacific ENT devices market is estimated to be the fastest-growing market due to growing government initiatives with rising healthcare expenses. Also, rising disposable income and growing clinical developments in product innovation are contributing to growing the market growth and expected to do so in the forecast period.
Key Benefits for ENT Devices Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
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Global ENT Devices Market Segmentation: –
By Product Type:
- Diagnostic ENT Devices
- Surgical ENT Devices
- Auditory System
- Hearing Screening Device
- Hearing Aids
- Nasal Splints Device
- Tympanogram System
- Ambulatory Surgical Centers
- ENT Specialty Clinics/ Centers
By Regional & Country Level:
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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