ENT Devices Market is anticipated to grow at a 7.2% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “ENT Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global ENT devices market was estimated to be over US$ 16 Bn in 2018. It is anticipated to grow at a CAGR of 7.2% from 2019 to 2030.
The continual growth of the ENT devices market can be attributed to several factors which have led to wide scale adoption of these products. Furthermore, rising prevalence of hearing loss and disorders, rising adoption of minimally invasive ENT procedures and increasing presence of prominent players in the ENT device market are further expected to contribute to the stable growth of this market from 2019 to 2030. According to the estimates of the Center for Disease Control and Prevention (CDC) in 2016, approximately 15% of American adults (37.5 million) aged 18 and over reported some hearing problem. In order to create awareness regarding otolaryngology a collaborative effort has been made by medical students, residents & faculty from Canadian Society of Otolaryngology to develop LearnENT, an application that aims to provide a standardized approach to education in Otolaryngology – Head & Neck Surgery.
Ear, nose and throat related disorders are some of the common disorders and there has been a steady rise in the numbers of these disorders. For instance, according to the Centers of Disease Control and Prevention (CDC), in the U.S. 30.8 million i.e. 12.5% of adults are diagnosed with chronic sinusitis and this is dominant even more than diabetes and asthma. Furthermore, 45,000 to 60,000 new cases of Meniere’s disease, a disorder of the inner ear are recorded annually by Hearing Health Foundation. This trend of increase in ear, nose and throat related disorders is expected to grow significantly during the forecast period. This factor is anticipated to contribute to the growth of this market. Minimally invasive ENT procedures are procedures that minimize surgical incisions, to reduce trauma to the body. Head and neck disorders are well suited for minimally invasive approaches. Patients are increasingly inclined to undergo treatments that will alleviate their symptoms while minimizing down time. Moreover, faster recovery, shorter period of hospital stays, better outcomes, lesser anesthesia required, lesser blood loss, reduced risk of infection are some of the pivotal factors that are anticipated to contribute to the growth of this market during the forecast period. Factors such as high cost of the ENT device and its procedure have been affecting the growth of the ENT device industry inversely. For instance, Otolaryngologists charge fees that range between $30,000 and $100,000 which includes costs of devices and surgical procedures. Moreover, the cost for the maintenance of these devices are high. These factors are expected to hinder the growth of the global ENT devices market during the forecast period.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, ENT Devices Market Is Anticipated to Grow at a Substantial CAGR Fsrom 2019 to 203. in detail along with the table of contents:https://www.marketindustryreports.com/ENT-devices-market/100
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Growing preference for minimally invasive ENT surgeries, growing geriatric population and rising incidence of hearing loss and disorders is expected to aid growth of ENT devices market in this region. Furthermore, rise in focus of market players in this region and less-stringent regulatory guidelines in the region are expected to present an attractive growth prospect for the market in the coming years.
The prominent players in the global surgical loupes market are Medtronic, CONMED Corporation, UNITECH VISION, Olympus Corporation, AventaMed DAC, PENTAX Medical KARL STORZ SE & Co. KG, Stryker, Smith & Nephew and Starkey among others.
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