ENT Devices Market Latest Trends, Company Profiles, and Competitive Analysis Forecast Report 2023-2030
ENT Devices Market
ENT Devices are special equipment that are employed for diagnosing and treating diseases and disorders related to the ear, nose, and throat. Some common ENT disorders in humans are ear infections, sinus, apnea, and tonsillitis. The ENT devices enclose hearing aids, endoscopes, voice prosthetics, tongue depressors, and tonsils forceps, among others.
ENT Devices Market Size Growth Rate:
According to the research report published by DataM Intelligence, the global ENT Devices market size was valued at USD YY billion in 2021. It is projected to reach USD YY billion by 2029, with growth at a CAGR of YY% over the forecast period 2022-2029.
The growing incidences of ENT disorders, the geriatric population, technological advancements, and market developments are boosting the global ENT devices market in the forecast period.
The market developments are accelerating the global ENT Devices market growth. For instance, in 2020, Sonova Holding AG opened a new retail concept in the field of hearing solutions to expand its ENT product research and commercial manufacturing facility. Also, in 2020, William Demant Holding A/S introduced their new premium audio brand EPOS, using new ground-breaking hearing aid technology. After incorporating this technology, their hearing aid brand, Oticon’s remote care solution, provides a new tool to hearing care professionals. Likewise, in May 2021, Sonova Holding AG acquired the consumer audio division of Sennheiser for €200 Mn. This acquisition will help Sonova to expand its business in the Consumer Electronics division, and Sennheiser can only focus on producing professional products like its Pro Audio, Business Communications, and Neumann divisions.
However, the cost associated with these devices and the need for skilled otolaryngologists and ENT surgeons to handle these devices accurately is anticipated to hinder the expansion of the global ENT devices market over the forecast period.
The favorable regulatory developments propose new opportunities for growth in the global ENT devices market. For instance, in October 2020, the U.S. FDA Reauthorization Act (FDARA) amended the regulatory framework for hearing aids to form the over-the-counter category by realigning the class of hearing aids by sound conduction technology. Before, only hearing aids by air conduction technology were characterized under the OTC hearing aids.
COVID-19 Impact Analysis
Otorhinolaryngologists handle secretions of organs involved in infection transfer, leaving them at high risk even while performing simple procedures. Although the pandemic advanced skill expectations, it simultaneously lessened education possibilities for trainees. In addition, alert to emergencies has been postponed. Further, the rest of the elective procedures have affected patients with malignancies. Thereby negatively impacting the global ENT devices market.
Recent Developments in the Industry:
- In August 2021, Cochlear Ltd. introduced the Nucleus Kanso-2 sound processor in Singapore, which is used in off-the-ear cochlear implants and is the most miniature sound processor worldwide. It delivers direct streaming from android or iOS devices and is linked to the Nucleus Smart App.
- In January 2022, Acclarent Inc., part of the Johnson & Johnson Medical Devices Companies, rolled out its first-ever AI-powered ENT technology, developed to facilitate surgical planning and deliver real-time repose during ENT navigation procedures.
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As per the research analysis, the global ENT Devices market is segmented By Product Type Surgical Devices, (Radiofrequency (RF) Handpieces, Powered Surgical Instruments, Balloon Sinus Dilation Devices, Handheld Instruments), Diagnostic Devices, (Endoscopes, Flexible Endoscopes, Rigid Endoscopes) Hearing Aids, (Behind-the-Ear (BTE) aids, In-the-Ear aids, Receiver-in-the-Ear (RITE), Canal hearing aids ITC, CIC, IIC, Others), Image-guided Surgery Systems, Others, By End User Hospitals, ENT Clinics, and ASCs.
- Based on the Product Type, Surgical Devices are estimated to grow at the highest CAGR of YY% during the forecast period (2022-2029). The Surgical Devices segment accounted for the largest market share of YY% of the global ENT Devices market in 2020. According to The Royal College of Surgeons of England, around 1476 ENT surgeons are working in the NHS, making them one of the biggest surgical specialties within the NHS, and this is largely down to the very broad range of skills they cover. Also, over 530,000 tonsillectomies are performed in children and adolescents in the United States every year because of recurrent throat infections or sleep-disordered breathing. Therefore, since many ENT surgeries are performed worldwide, surgical ENT devices are expected to grow at a high CAGR.
- Based on the End User, Hospitals accounted for the largest market share of around YY% in 2020 and are expected to grow at a CAGR of YY% during the forecast period (2022-2029). Owing to the increasing number of hospital establishments, availability of multiple specialties under one roof, and eases of reimbursement make patients prefer hospitals, thereby ensuring the growth of the segment in the forecast period at a high CAGR.
The global ENT Devices market is segmented into major regions, including North America, South America, Europe, Asia Pacific, and the Middle East & Africa.
North America ENT Devices Market:
The North American region holds the dominant share of about YY% in 2020. This region’s dominance is due to higher cases of ENT disorders and having the most advanced and robust healthcare system in this region. Furthermore, most of the key market players are United States based, holding most of the market to ensure the dominance of North America over the global ENT devices market.
Asia-pacific ENT Devices Market:
The Asia-pacific market is expected to grow by showcasing a significant CAGR due growing geriatric population in this region. For instance, according to the U.S. Census Bureau report, Asia’s population is aging faster than any other world region. In 2020 there were an estimated 414 million Asian people age 65 and older, about 20% higher than the total U.S. population (331.4 million).
The ENT devices market is highly competitive, with the presence of major players and small emerging players. In the ENT devices market, companies, healthcare insurance providers, and hospitals all are emerging at a steady pace with competitive ENT devices. Key players compete based on aggressive pricing, features, convenient use, technology upgrades, and marketing strategies. The market players are adopting various key strategies such as collaborations, partnerships, acquisitions, and product launches to expand their presence.
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Medtronic Plc, Atos Medical, American Hearing Systems Inc., Olympus Corporation, Cochlear Ltd, InHealth Technologies, Starkey Laboratories Inc., Siemens Healthcare GmbH, Stryker Corporation, and Welch Allyn.
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The Full Report has the below insights:
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
- Visualize the composition of the global ENT Devices market segmentation by Product Type, End Users, and region, highlighting the key commercial assets and players.
- By Product Type: Surgical Devices, (Radiofrequency (RF) Handpieces, Powered Surgical Instruments, Balloon Sinus Dilation Devices, Handheld Instruments), Diagnostic Devices, (Endoscopes, Flexible Endoscopes, Rigid Endoscopes) Hearing Aids, (Behind-the-Ear (BTE) aids, In-the-Ear aids, Receiver-in-the-Ear (RITE), Canal hearing aids ITC, CIC, IIC, Others), Image-guided Surgery Systems, Others.
- By End User: Hospitals, ENT Clinics, and ASCs.
- By Region: North America, South America, Europe, Asia Pacific, and the Middle East & Africa
- Identify commercial opportunities in the ENT Devices market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
- Excel data sheet with thousands of data points of ENT Devices Market -level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
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