ENT devices are distinct equipment used for diagnosis, therapy, or surgery of any disorders related to the ear, nose, or throat, thereby helping to correct any problems related to hearing, smelling, snoring, or speaking, There are a wide range of ENT devices available in the market including endoscopes, hearing screening devices, powered surgical instruments, hearing aids, hearing implants, handheld surgical instruments, balloon sinus dilation devices, CO2 lasers, image-guided surgery systems, ear tubes, nasal and otological (ear) packing material, and voice prosthesis devices.
The global ENT devices market is expected to reach USD 14,001 Million by 2020 from USD 9,595 Million in 2015, at a CAGR of 6.5% during the forecast period. Growth in ENT Devices market is mainly driven by the high prevalence of chronic sinusitis, rising geriatric population, favorable reimbursement scenario for ENT procedures in developed countries, rising adoption of minimally invasive ENT procedures, increasing presence of prominent players in the ENT devices market, and technological advancements. In addition the growing adoption of surgical instruments and techniques that are minimally invasive and more accurate than the conventional methods is a key market trend that will drive the ENT devices market during the forecast period. However, changes in the reimbursement policy for Tracheoesophageal Voice Prosthesis (TEP) devices in the U.S., high cost of CO2 lasers, and high cost and lack of reimbursement for hearing aids are factors that are likely to restrict the growth of ENT Devices market.
Chronic sinusitis is one of the top 10 medical conditions and contributes around USD 8.6 Billion of direct healthcare cost in the U.S. According to the Centers of Disease Control and Prevention (CDC), in the U.S., about 12.1% of the adult population or 28.5 Million people are suffering from chronic sinusitis, making it more prevailing than diabetes and asthma. This high prevalence of chronic sinusitis is driving the demand for ENT treatments such as endoscopic sinus surgeries, functional endoscopic sinus surgery (FESS), and balloon sinus dilation. Thus, growing prevalence of sinusitis is expected to propel the growth of ENT devices market.
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ENT Devices Market report is a comprehensive study of current market trends in the market, industry growth drivers, and restraints. These markets are analyzed at regional level to provide exhaustive market analysis for the years 2013, 2014, 2015 and forecast to 2020. Each market is comprehensively analyzed at a granular level by geography (North America, Europe, Asia and Rest of the World) to provide in depth on the global scenario.
The ENT Devices market is a highly competitive market with several big as well as emerging players striving to secure a larger market share. In addition, each product segment has different set of vendors. Prominent players in the ENT devices market include Medtronic plc (Ireland), Olympus Corporation (Japan), KARLSTORZ GmbH & Co (Germany), Stryker Corporation (U.S.), Smith & Nephew plc (U.K.), Acclarent, Inc. (U.S.), Hoya Corporation (Japan), Sonova Holdings AG (Switzerland), William Demant Holdings A/S (Denmark), and Cochlear Limited (Australia).