Westford, USA, June 15, 2023 (GLOBE NEWSWIRE) -- The global ENT Devices market size is expected to reach USD 35.9 billion by 2030 and exhibit a CAGR of 5.74% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing prevalence of ENT disorders, technological advancements in ENT devices, growing demand for minimally invasive surgeries, rising awareness and patient education regarding ENT disorders, increasing healthcare expenditure and insurance coverage, favorable reimbursement policies in some regions, growing adoption of hearing aids and implants for hearing loss, increasing geriatric population and associated ENT disorders are fueling the Market's growth.
Government Subsidies and Incentives to Promote the Use of ENT Devices
At a global scale, the adoption of 3D printing technology for customized devices and implants, growing demand for portable and wireless devices, integration of artificial intelligence (AI) and machine learning (ML) in ENT devices, development of implantable hearing devices and cochlear implants with improved features, the introduction of advanced imaging technologies for more accurate diagnosis and treatment planning are promoting the market growth.
Several government initiatives, such as FDA guidance on ENT devices that help streamline the approval process, national deafness and other communication disorder programme manages hearing aid provision, medicare coverage for Cochlear Implants, and Japan's initiative to promote hearing health are promoting innovations and funding research and development to improve the overall quality of care for the patients in ENT disorders.
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Hearing Aid Product Type Demand to Grow Substantially in the Forecast Period
Hearing aid product type dominated the global market owing to its increasing prevalence of hearing loss. It is also due to the technological advancements in hearing aids, such as the development of digital hearing aids that offer better sound quality and noise reduction, along with the increasing availability of rechargeable hearing aids. In addition, the World Health Organization estimates that approximately 466 million people globally have hearing loss, and this number is expected to increase to 630 million by 2030.
Nasal and Sinus is the Leading Application Segment
In terms of application, the nasal and sinus segment is the leading segment due to the increasing prevalence of chronic sinusitis and nasal disorders globally. In addition, chronic sinusitis affects a large population globally and is one of the most common reasons for ENT consultations. It is estimated that over 29 million people in the United States alone suffer from chronic sinusitis, and this number is expected to increase in the coming years.
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Asia-Pacific and North America are the leading Markets for Using Clean Energy
Region-wise, North America is one of the largest growing markets with the presence of advanced healthcare infrastructure, the increasing prevalence of ENT disorders, and the high adoption of technologically advanced ENT devices. The United States is a major contributor to the growth of the ENT devices market in North America due to the high incidence of ENT disorders in the country. For instance, it is estimated that over 20% of the adult population in the United States suffers from hearing loss, and this number is expected to increase in the coming years due to the aging population.
Browse in-depth TOC on " ENT Devices Market "
Pages - 251
Tables - 65
Figures - 75
ENT Devices Market Report Suggests:
- Medtronic plc (NYSE: MDT) has acquired Intersect ENT to enhance its ear, nose, and throat (ENT) portfolio with innovative sinus products that improve post-operative outcomes and treat nasal polyps.
- In terms of application, the Naval and sinus segment dominates due to the increasing prevalence of chronic sinusitis and nasal disorders globally.
- In terms of type, the hearing Aid type segment is projected to gain more popularity due to the increasing prevalence of hearing loss
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due developed health infrastructure
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ENT Devices Market Segmentation:
The global ENT Devices market report is segmented based on Product type, application, and region.
By Product Type
- Hearing Aids
- Diagnostic Devices
- Surgical Devices
- Hearing Implants
- Co2 Lasers
- Others
By Application
- Nasal and Sinus
- Otology
- Laryngology
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
ENT Devices Market Major Company Profiles:
- Medtronic plc
- Johnson & Johnson
- Stryker Corporation
- Olympus Corporation
- Karl Storz SE & Co. KG
- Cochlear Limited
- Siemens Healthineers
- GN Store Nord A/S
- Sonova Holding AG
- Starkey Hearing Technologies
- Widex A/S
- Smith & Nephew plc
- William Demant Holding A/S
- Natus Medical Incorporated
- Rion Co. Ltd.
- Intersect ENT, Inc.
- Acclarent, Inc. (a subsidiary of Johnson & Johnson)
- Lumenis Ltd.
- Nihon Kohden Corporation
- Atos Medical AB
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