Ottawa, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The global ENT devices market size was valued at US$ 21.5 billion in 2021. The factors which spur the growth of the market are raising geriatric population, increasing prevalence of ENT-related disorders, increasing penetration of minimally invasive ENT procedures. Moreover, technological advancement in the devices such as robot-assisted endoscopes systems leads to enhance the growth of the market.
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Moreover, ENT devices is registering it mark in the hospital, and clinics, as the increased in spending on healthcare facilities by government and private hospitals and rise in per capita are likely to augment the growth of the market.
The factors which augment the market are increasing prevalence of ear, nose, and throat related disorders. According to the data by World Health Organization in 2018, in United States, the incidence of hearing loss has increased from 11.5 million in 2008, to nearly 15 million in 2018.The ENT devices is expected to change the way the hospitals and clinics by introducing innovative methods and insights.
Report Coverage ENT Devices Market
| Report Highlights | Details | |
| Market Size in 2021 | US$ 21.5 Billion | |
| Growth Rate from 2021 to 2030 | 5% | |
| Largest Revenue Holder | North America | |
| Fastest Growing Region | Asia Pacific | |
| By Product |
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| By End User |
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Report Highlights
- Based on the product, the diagnostic devices segment accounted largest revenue share 29% in 2020. This can be attributed to increase in geriatric population along with rising prevalence of various ear, nose, and throat (ENT) disorders.
- The hearing aids segment is expected to grow at the fastest rate over the forecast period due to increasing adoption of these devices, and technological advancements due to an increase in investment by market players on R&D.
- Based on the end user, the hospitals segment was the leading segment in 2020. The rising prevalence of diseases coupled with the increased number of hospital admissions has significantly contributed towards the growth of this segment in the past few years. Moreover, rising investments for the development of better and improve healthcare infrastructure is boosting the growth of the hospitals especially in the developing regions.
Regional Scope
North America dominated the market and garnered 36% revenue share in 2020. This is attributed to the increased adoption rate of the latest technologies in the countries like US and Canada. The presence of high number of market players. The major factors which gain a major demand for the ENT devices are better healthcare infrastructure, favorable reimbursement policies, high cases of chronic sinusitis, and other ENT disorders.
Europe region accounted for the second-largest revenue share in 2020. The region has high product penetration for hearing aids due to well-established healthcare infrastructure and high patient awareness levels.
Asia Pacific is expected to be the most opportunistic market during the forecast period. The rising government expenditure to develop strong healthcare infrastructure and government policies to attract FDIs is expected to play a significant role in the growth of the ENT devices market in the region. The presence of huge population and rising number of hospital admissions will foster the demand for the ENT devices in the Asia Pacific region, and will lead to the growth of the market during the forecast period.
The rising prevalence of ear, nose, and throat related disorders among the population will boost the demand for the ENT devices. Moreover, the rising adoption of minimally invasive ENT procedures and technological advancements are the driving factors for the growth of the market.
The high instrument costs and procedure associated with the and capital in the underdeveloped and developing nations may hamper the market growth during the forecast period.
The introduction of latest technologies such as artificial intelligence and machine learning may provide growth prospects to the market players in the upcoming future, and drive the market growth.
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Some of the prominent players in the global ENT Devices market include:
- Demant A/S
- Sonova
- Ambu A/S
- Pentax Medical
- Karl Storz
- Olympus Corporation
- Richard Wolf Gmbh
- Widex
- Cochlear Ltd.
- Sivantos, Inc.
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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