VANCOUVER, BC, Feb. 7, 2023 /PRNewswire/ -- The ENT devices market size reached USD 16.43 Billion in 2021 and is expected to register a CAGR of 5.9% during the forecast period, according to latest analysis by Emergen Research. Increase in prevalence of ENT disorders is a key factor driving ENT devices market revenue growth. The Centre for Disease Control and Prevention (CDC) reports that in the US, 12 million individuals over the age of 40 have vision problems, including 1 million who are blind, 3 million who have visual impairment despite the correction, and 8 million who have vision impairment caused by uncorrected refractive error. Additionally, about 6.8% of children under 18 have eye and vision issues, with nearly 3% of them being blind or visually impaired, meaning they have difficulty seeing even with glasses or contacts.
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Drivers:
Increase in demand for minimally invasive surgeries in conjunction with ENT devices is another factor driving the market revenue growth. These devices can be used in conjunction with minimally invasive surgical techniques to perform ENT procedures such as removal of tumors or repair of nasal or ear structures. They are used to visualize the inside of the nose, sinuses, larynx, pharynx, and ear canal. They can be used to remove foreign bodies, take biopsies, and perform surgery.
Furthermore, launch of innovative endoscopes is also augmenting the growth of the market. For instance, in April 2021, 3NT Medical, a medtech innovator dedicated to developing single-use specialized endoscopes for the diagnosis and treatment of ear, nose, and throat (ENT) disorders, received FDA clearance for its Peregrine Drivable ENT Scope, which is designed to provide ENT surgeons with unparalleled views of sinus anatomy to improve the surgical experience.
Restraints:
Social stigma associated with ENT devices is one of the major restraining factors for the growth of the ENT devices market. Social stigma refers to negative attitudes and beliefs held by society towards certain groups or individuals. In the context of ENT (ear, nose, and throat) devices, there may be a social stigma associated with certain conditions or treatments that require the use of these devices. People with visible devices such as nasal cannulas or tracheostomy tubes may be stigmatized or judged by others. Moreover, some people may feel shame or embarrassment about having to use certain ENT devices such as a hearing aid, or a speech-language device, and may avoid using them in public or in social situations.
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Growth Projections:
The ENT devices market is expected to register a CAGR of 5.9% over the forecast period and revenue is projected to increase from USD 16.43 Billion in 2021 to USD 27.76 Billion in 2030. Adoption of tele-audiology worldwide is expected to support revenue growth of the market.
Current Trends and Innovations:
The ENT Devices market is undergoing gradual changes during the forecast period. There is a growing trend towards using minimally invasive techniques and devices in ENT procedures These techniques involve the use of small incisions and specialized instruments to perform procedures with less tissue damage and recovery time compared to traditional open surgery. Additionally, there is a growing interest in using robotics in ENT surgery to improve precision and reduce the invasiveness of procedures. Robotics can also help reduce the invasiveness of procedures, which can lead to less pain, bleeding, and recovery time for the patient. It's important to note that while robotics is an exciting technology with a lot of potential, it's also still in the early stages of development and not all procedures or patients may be candidates for robotic surgery.
Strategic Initiatives:
Major companies included in the market report are Medtronic plc, Cochlear Ltd, Olympus Corporation, Stryker Corporation, FUJIFILM Corporation, Demant A/S, GN Store Nord A/S, Starkey Laboratories, Inc., Smith+Nephew, and Karl Storz.
- On October 2022, Sony Electronics announced that it is now offering its first over the counter (OTC) hearing aids for the US market. In collaboration with WS Audiology, Sony has developed products that aim to improve the lives of consumers by utilizing its advanced technology, ease of use, and comfort to provide an unparalleled hearing experience that connects the wearer with their surroundings.
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Scope of Research
Report Details | Outcome |
Market Size in 2021 | USD 16.43 Billion |
CAGR (2022-2030) | 5.9 % |
Revenue Forecast to 2030 | USD 27.76 Billion |
Base Year for Estimation | 2021 |
Historical Data | 2019-2020 |
Forecast Period | 2022-2030 |
Quantitative Units | Revenue in USD Billion and CAGR in % from 2022 to 2030 |
Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments Covered | Product, end-use, and region |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
Key Companies Profiled | Medtronic plc, Cochlear Ltd., Olympus Corporation, Stryker Corporation, FUJIFILM Corporation, Demant A/S, GN Store Nord A/S, Starkey Laboratories, Inc., Smith+Nephew, and Karl Storz |
Customization Scope | 10 hours of free customization and expert consultation |
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Emergen Research has segmented ENT devices market on the basis of product, end-use, and region:
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Diagnostic Devices
- Surgical Devices
- Hearing Aids
- Image-guided Surgery Systems
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- ENT Clinics
- Others
- Regional Outlook (Revenue, USD Billion, 2019-2030)
- North America
a. U.S.
b.Canada
c.Mexico - Europe
a.Germany
b.France
c. U.K.
d.Italy
e.Spain
f. Benelux
g. Rest of Europe - Asia Pacific
a.China
b.India
c.Japan
d.South Korea
e. Rest of APAC - Latin America
a.Brazil
b. Rest of LATAM - Middle East & Africa
a.Saudi Arabia
b. UAE
c.South Africa
d.Turkey
e. Rest of MEA
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