Dublin, July 08, 2021 (GLOBE NEWSWIRE) -- The "ENT Devices Market by product (Diagnostic (Endoscope, Hearing Screening Devices), Surgical Devices, (Powered Surgical Instruments, ENT Supplies, Ear Tubes), Hearing Aids, CO2 Lasers, & End Users (Hospital & ASCs, ENT Clinics)- Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global ENT Devices market size is projected to reach USD 22.3 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 6.6% during the forecast period.
The growth in this market is attributed to the rising aging population and the associated hearing loss, rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising product availability and awareness. Moreover, the growth opportunities in emerging markets are expected to provide growth opportunities for players in the ENT Devices market during the forecast period.
Hearing Aids segment to witness the highest growth during the forecast period.
Based on the product, the ENT Devices market is segmented into Diagnostic Devices, Surgical Devices, Hearing Aids, Hearing Implants, Co2 Lasers, Image-Guided Surgery Systems. The Hearing Aids products segment accounted for the larger share of the ENT Devices market. The large share of this segment can be attributed to increases in the demand for hearing aids. As an individual age, changes occur in the nerve pathways from the ear to the brain which can lead to hearing loss
Endoscopes segment to register the highest growth in the ENT Devices market during the forecast period.
Based on the Diagnostic Devices, the ENT Devices market is segmented into Endoscopes and Hearing Screening Devices. In 2020, the Endoscopes segment accounted for the largest share of the ENT Devices market. The large share of this segment can be attributed to research and development in endoscopes leads to the launch of efficient and different types of endoscopes for the surgeries.
Asia Pacific is estimated to register the highest CAGR during the forecast period.
In this report, the ENT Devices market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). The market in Asia Pacific is projected to register the highest growth rate during the forecast period.
Factors such as growing preference for minimally invasive ENT surgeries, rise in disposable income in developing countries, rapidly growing elderly population, increase in focus of the market players in India, and less-stringent regulatory guidelines are expected to drive the growth of the Asian ENT devices market.
Premium Insights
- Rapid Growth in Geriatric Population to Drive the Market Growth
- The Hearing Aids Segment to Account for the Largest Market Share in 2020
- The Home Use Segment and the US to Dominate the North American ENT Devices Market in 2020
- China to Register the Highest Growth Rate During the Forecast Period
Market Dynamics
Drivers
- High Prevalence of ENT Disorders or Diseases
- Rapidly Growing Aging Population
- Favorable Reimbursement Scenario for ENT Procedures in Developed Countries
- Growing Adoption of Minimally Invasive ENT Procedures Such as Benefit of Balloon Sinuplasty/Sinus Dilation Over Convention Sinus Surgeries
Restraints
- High Cost & Lack of Reimbursement Policies for ENT Devices or Procedures Across Developing Countries
- High Cost of C02 Lasers
Opportunities
- High Demand for Cosmetic ENT Procedures
- Growing Healthcare Market in Emerging Economies
Challenges
- Survival of Small Players and New Entrants
- Dearth of Skilled Otolaryngologists and ENT Surgeons
- Increasing Pricing Pressure on Market Players
COVID-19 Impact Analysis
Company Profiles
- Karl Storz GmbH & Co. Kg
- Medtronic plc
- Stryker Corporation
- Smith & Nephew plc
- Olympus Corporation
- Acclarent, Inc.
- Cochlear Limited
- Hoya Corporation
- Sonova Holding Ag
- William Demant Holding A/S
- GN Store Nord
- Atos Medical Ab
- Welch Allyn (Subsidiaries of Hill-Rom Holdings Inc)
- Starkey Hearing Technologies
- Rion Co. Ltd
- American Hearing Systems Inc
- Zounds Hearing Inc.
- Narang Medical Limited
- Med-El Gmbh
- Ws Audiology A/S
- Horentek Systems
- Audina Hearing Instruments
- Meril Life Sciences Pvt Ltd
- Intersect ENT, Inc.
- Sinusys Corporation
- Richard Wolf Gmbh
- Lumenis
- Alma Lasers
For more information about this report visit https://www.researchandmarkets.com/r/yqjzml