ENT surgical devices market is expected to surpass US$ 2,500 million in 2019, according to a new study by Fact.MR. The ENT surgical devices market witnessed a steady progress and grew at 6.6% y-o-y in 2018. Overall growth of the ENT surgical devices market can be attributed to,
- Technological advancements enhancing ENT procedure efficiency and outcome
- Reimbursement policies in favor of ENT surgeries
- Product developments accommodating demand trend such as minimal invasion
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The medical technology industry has shifted from a traditional marketing model to a care delivery model. Following the new business approach, Tier 1 and Tier 2 players portray hegemony in the market and continue to introduce disruptive technology innovations in ENT surgical devices.
The ENT surgical devices marketplace has the presence of a broad range of surgical instruments and equipment. According to Fact.MR valuation, ENT surgical lasers account for a leading share in the global market.
Greater reliability of the laser treatment in ENT or otorhinolaryngology has been embraced by medical professionals as well as patients. Ranging from the treatment of snoring or nasal obstruction to cancer of ear, nose and throat, laser therapy have delivered definitive results and the account of successful outcomes is rising consistently.
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Fact.MR estimates that powered ENT surgical system will also register considerable demand in 2019. Powered ENT instruments are used in procedures such as removal of soft tissue, hard tissue and bone during surgery. On the other hand, the ENT visualization systems are growing at a faster pace and over 9% y-o-y growth is expected in 2019.
The ENT surgical devices marketplace has witnessed introduction of a number of advanced navigation system, in particular, three-dimensional guiding system. Leading ENT surgical device manufacturers have introduced advanced navigation systems that assist ENT surgeons in easier navigation during ENT surgeries.
Hospitals Held Over Half the Revenues in 2018, ENT Clinics Growing Rapidly
Fact.MR valuation finds that the ENT surgical devices market hit US$ 2,345 million in 2018 and the growth trend will continue in 2019. Hospitals continued to capture greater market share of the ENT surgical devices market in 2018. Improved hospital infrastructure with well-equipped ENT instruments can be attributed to over half the global share of hospitals in the ENT surgical devices market.
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In consonance with the rising prevalence of ENT disorders, construction of specialized ENT clinics has increased. Fact.MR finds that ENT clinics hold the second largest revenue and will grow at a faster rate in 2019.
Fixed ENT Surgical Devices to Hold Over 37% Revenue Share in 2019
Based on modality, three types of devices are present – handheld, portable and fixed. Owing to the popularity of fixed devices, Fact.MR estimates that these devices will continue to account for a higher market share. On the other hand, handheld devices are estimated to account for the second largest revenue in the ENT surgical devices market and will register faster expansion in the coming years.
According to the study, North America dominates the ENT surgical devices market and will account for over one forth revenue share in 2019. The market growth in North America is favored by favorable healthcare reimbursement coverage. In addition, presence of industry leaders in the regions contributes to the higher market revenues.
The study finds that Europe follows North America with the second largest revenues. Europe and APEJ collectively held over half the revenues in 2018. While Europe presents an established market, improving healthcare infrastructure and economic standards in APEJ can be attributed to the growth scenario of the ENT surgical devices market in the coming years.
The Fact.MR report tracks the ENT surgical devices market for the period 2018-2028. According to the report, the ENT surgical devices market is projected to grow at 6.4% CAGR through 2028.
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