ENT devices refer to the equipment that are mainly used for therapy, diagnosis and surgery of any disorder related to ear, nose or throat. These devices help in correcting problems related to smelling, hearing, snoring or speaking. A wide range of ENT devices are available in the market including balloon sinus dilation devices, powered surgical instruments, handheld surgical instruments, CO2 lasers, hearing implants, hearing aids, image-guided surgery systems and so on. ENT devices market is estimated to grow at a CAGR of 7% by 2023. High prevalence rate of chronic sinusitis is expected to fuel the market demand for ENT devices. In U.S., approx. 37 million people get affected by sinusitis, amongst which 33 million are chronic sinusitis patients. Adoption of ENT market is driven by the following reasons:
- Rapidly Growing Geriatric Population
- High Prevalence Rate of Chronic Sinusitis
- Rising Adoption of Minimally Invasive ENT Procedures
- Technological Advancements
- Favourable Reimbursement Scenario in Developed Nations for ENT Procedures
- Increasing Prominent Players in The ENT Devices Market
- Growing Trend for Customized Implants
The increasing prevalence of sinusitis is anticipated to create significant opportunities for the manufacturers of ENT devices in the coming years. The other factors that are contributing significantly towards the growth of ENT devices market include rapidly growing geriatric population, favourable reimbursement policies in developed nations for ENT procedures and technological advancements. Moreover, high cost of ENT procedures and devices is anticipated to hinder the growth of ENT devices market. The cost of balloon sinus dilation device ranges from $300 to $3000 per balloon and for one cochlear implant the average cost can range from $40,000 to $100,000 depending on the center of surgery and individual need. Such high cost of implants and devices can restraint the demand for ENT devices. Rising demand for cosmetic ENT procedures is estimated to create a significant opportunity for the key players of ENT devices market.
Source: OBRC Analysis
The ENT devices market can be segregated on the basis of product type and end-users. On the basis of product type, the ENT devices market is bifurcated into:
- Surgical Devices
- Diagnostic Devices
- Hearing Implant
- Image-Guided Surgery Systems
- Hearing Aids
- Co2 Lasers
In 2015, hearing aids are anticipated to account for the largest share in the ENT devices market in product type. In 2015, hearing aid’s net sales grew to 3.36 million units in the U.S., a 7.17% increase over 3.13 million units in 2014. Moreover, hearing implants is expected to be the fastest growing segment owing to increasing geriatric population, high prevalence of hearing loss, technological advancements and improved healthcare structure in the developing economies.
Surgical devices are further segregated into:
- Radiofrequency Handpieces
- Balloon Sinus Dilation Devices
- Powered Surgical Instruments
- Handheld Instruments
- Ear Tubes
- Ent Supplies
- Voice Prosthesis Devices
Handheld instruments market also possesses rhinology instruments, laryngeal instruments, otology instruments, head and neck surgery instruments and other handheld instruments.
In addition to it, diagnostic devices are also bifurcated into:
- Hearing Screening Devices
- Endoscopes
ENT devices market can also be segmented on the basis of end-users includes:
- Hospitals
- ENT Clinics
- Home Users
- Ambulatory Settings
Amongst them, ambulatory settings are anticipated to grow at a highest CAGR during 2016-2022.
The revenue for the above end-user segments are specific to the ENT device market. however, the total revenue of these end user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up product segment.
Geographically, the global ENT market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America dominates the ENT devices market owing to favourable government policies, presence of sophisticated healthcare infrastructure and rising awareness level among practitioners and patients. According to national institute on deafness and other communication disorders, in the United States, about 2 to 3 out of every 1,000 children are born with a detectable level of hearing loss in either one or both ears. Around 15% of American adults aged 18 and over report some or the other problem in hearing. According to NIDCD (National Institute on Deafness and Other Communication Disorders), approx. 26 million between the age of 20-69 have high frequency hearing loss owing to noise at work or during leisure activities. Asia Pacific is estimated to be the fastest growing region due to rise in disposable income in developing countries, increasing demand for minimally invasive ENT surgeries, growing geriatric population and less stringent regulatory guidelines. Growing concern among people for ear, nose and throat disorders is also anticipated to influence the demand for EHR devices in Asia Pacific.
The major market players of the global ENT market are:
- Medtronic PLC
- Karl STORZ GmbH & Co.
- Olympus Corporation
- Stryker Corporation
- Acclarent Inc.
- Sonova Holdings AG
- Hoya Corporation
- William Demant Holdings A/S
- Cochlear Limited.
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
In March 2015, Medtronic PLC acquired Sophono Inc., a privately held manufacturer and developer of innovative magnetic hearing implants in Boulder, Colorado. This acquisition enabled Medtronic’s ENT division to continue its focus on novel therapies and innovative technology solutions. Sophono’s magnetic bone conduction hearing implants have made its presence felt in 42 countries and have been implanted in 4,000 patients.
Why to buy the report:
This report will provide you:
- Provide you the business strategies adopted by market player such as In March 2015, Medtronic PLC acquired Sophono Inc., a privately held manufacturer and developer of innovative magnetic hearing implants.
- Provide in detail the different segments such as by products and end-users which are affecting the global ENT market.
- Provide you the patent analysis of the ENT market.
- Identify, understand, and the strength, opportunities, challenges and threat of the ENT market.
- Provide revenues of major players of the market such as Medtronic PLC, stryker corporation.
- Provide you various the regulatory policies which are affecting the global ENT market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global ENT market offers the longest chain of market segmentation covering major market segmentation based on products and end users. Report tracks the major market trends in the global ENT market such as increasing prevalence of ear, nose, and throat related traumas & infections and so on. For each market segments covered in global ENT market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the ENT industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global ENT market:
- Increasing prevalence of ear, nose, and throat related traumas and infections, the high prevalence of chronic sinusitis and growing trend for customized implants are fuelling growth in the global ENT device market.
- North America is anticipated to account the largest revenue share in 2016.
- Hearing aids are anticipated to account for the largest share in the ENT devices market in product type.
- Increasing government support
- Ambulatory setting is the major segment of end-user.
- Acquisition is the key strategy adopted by the various market players of global ENT device market.