Selbyville, Delaware, Nov. 03, 2020 (GLOBE NEWSWIRE) --
According to latest report “Sinus Dilation Devices Market Product (Balloon Sinus Dilation Devices, Sinus Implants, Handheld Instruments, Sinuscopes, Rhinoscopes), Procedure (Standalone Sinus Dilation Procedures, Hybrid Sinus Dilation Procedures), End-use (Hospital, Physicians Office, Ambulatory Surgical Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of sinus dilation devices will cross $3.3 billion by 2026.
Increasing number of patients suffering from sinusitis will propel the industry growth in the coming years. With rising prevalence of sinusitis, high inflow of patients in ENT clinics and hospitals are leading to increased adoption of sinus dilation devices among physicians. According to a report by the National Institutes of Health, each year approximately 37 million people in the U.S. are affected by chronic rhinosinusitis. Moreover, growing prevalence of chronic sinusitis has compelled the manufacturers to expand their business by developing advanced sinus dilation devices.
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Growing technological advancements, reimbursement policies for sinus dilation procedures and rising demand for cost-effective treatments are further driving the sinus dilation devices market growth. Increasing geriatric population coupled with rising prevalence of chronic diseases will further augment the demand for sinus dilation devices.
Balloon sinus dilation devices segment valued over USD 610 million in 2019 led by the increased preference for balloon sinus dilation procedures owing to its high safety and efficacy. The medical and insurance companies provide reimbursement for procedures requiring the use of balloon sinus dilation devices. In addition, these devices are preferred due to additional benefits such as less risk of post-operative infection, reduced dependence on pain medications, and limited risk of tissue damage or scarring.
The standalone sinus dilation procedure segment valuation was more than USD 1,372 million in 2019 driven by rising prevalence of osteitis in sinuses, that has led to a significant rise in the number of standalone balloon sinus ostial dilation (BSOD) procedures performed each year. Standard sinus dilation procedures are proven to be safe, effective and a better alternative to functional endoscopic sinus surgery (FESS). Standalone sinus procedures have very low surgical revision rates with 1-year follow up and hence, patients increasingly prefer to undergo standalone sinus dilation procedures.
Hospital end-use segment in the sinus dilation devices market exceeded USD 902 million in 2019impelled by the growing number of outpatient sinus dilation procedures along with rising healthcare professionals in hospitals with the ability to perform complex sinus procedures. The ongoing pandemic has led to an exponential increase in number of patients suffering from sinusitis. This in-turn has fueled the demand for sinus dilation procedures in the hospital settings.
China sinus dilation devices market is estimated to show significant growth at 11.6% till 2026 on account of a large patient base prone to chronic sinusitis disorder along with increase in healthcare expenditure across the country. According to the National Center for Biotechnology Information (NCBI), approximately 107 million people in China suffer from chronic sinusitis annually. Increased patient awareness pertaining to advanced treatments available in the country has augmented the demand for sinus dilation devices. Hence, several healthcare reforms in the country has further boosted the market value in China.
Some of the major players operational in the sinus dilation devices market are Meril Life Sciences, Creganna Medical, Olympus Corporation, Jilin Coronado Medical, SinuSys Corporation, dalENT Medical, InAccel, Acclarent, Intersect ENT and Medtronic, among others. These leaders are engaged in collaborating and launching new products to strengthen their market position.
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Table of Contents (ToC) of the report:
Chapter 3 Sinus Dilation Devices Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 – 2026
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By procedure
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.7 Competitive landscape, 2019
3.7.1 Competitive matrix analysis
3.8 PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/sinus-dilation-devices-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.