“Growing preference for minimally invasive surgeries, rapid technological advancements in sinusitis treatment, and high prevalence of sinusitis drive the growth of the global sinus dilation devices market. The hospitals & clinic segment held the largest share in 2016, contributing around three-fourths of the market. On the other hand, the market across Asia-Pacific is anticipated to grow at the fastest CAGR of 9.6% through 2023.”
The global sinus dilation devices market was pegged for $3.33 billion in 2016 and projected to reach $5.78 billion by 2023, registering a CAGR of 8.1% from 2016 to 2023.
Growing preference for minimally invasive surgeries, rapid technological advancements in sinusitis treatment, and high prevalence of sinusitis have boosted the growth of the global sinus dilation devices market. However, risks associated with sinus surgeries and low adoption of sinus treatment devices due to surge in preference for drugs hamper the market. On the contrary, growing healthcare infrastructure in emerging nations and rise in investment are expected to create lucrative opportunities in the near future.
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The global sinus dilation devices market is divided on the basis of product, end user, and geography. Based on product, the market is segmented into balloon sinuplasty systems, rhinoscopes, sinuscopes, sinus stents, and functional endoscopic sinus surgery (FESS) instruments set. The balloon sinuplasty systems dominated the market in 2016, accounting for around three-fifths of the market share. However, the FESS instrument set is projected to grow at a CAGR of 9.3% during the forecast period.
On the basis of end user, the market is divided into hospitals & clinics and ambulatory surgical centers (ASCs). The hospitals & clinic segment held the largest share in 2016, contributing around three-fourths of the market. However, the ASCs segment is expected to grow at the fastest CAGR during the study period.
The global sinus dilation devices market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2016 and is projected to continue its dominance throughout the study period. However, the market across Asia-Pacific is anticipated to grow at the fastest CAGR of 9.6% through 2023.
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The market report includes an in-depth analysis of the major market players such as Medtronic Plc., Acclarent, Inc., Smith & Nephew Plc., Entellus Medical, Inc., Olympus Corporation, SinuSys Corporation, Accurate Surgical & Scientific Instruments, Sklar Surgical Instruments, Intersect ENT, Inc., and Bausch & Lomb Incorporated.
Scope Of The Report:
|Market size available for years||2016-2023|
|Base year considered||2017|
|Forecast units||Value (USD)|
|Segments covered||Product and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
Key findings of the Sinus Dilation Devices Market:
- The balloon sinuplasty system segment accounted for around three-fifths share of the global sinus dilation devices market in 2016.
- The FESS instruments set segment is expected to grow at a CAGR of 9.3% from 2017 to 2023.
- The hospitals & clinics segment accounted for around three-fourths share in 2016.
- Europe accounted for around one-third share of the global sinus dilation devices market in 2016.
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