Analysis of ENT Surgical Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The ENT surgical device sales reached US$ 2.5 Bn in 2020. By 2031, the market for ENT surgical devices will reach US$ 4.8 Bn, growing at a CAGR of nearly 7% from 2021 to 2031.
According to researchers, the market is growing primarily due to an increasing number of ENT disorders and the increasing number of patients undergoing plastic surgery. With the growing popularity of robotic surgery, ENT surgical devices are becoming more popular among healthcare organizations.
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According to Fact.MR, market research and competitive intelligence provider, the global market for ENT surgical devices has expanded at a CAGR of almost 6% from 2016 to 2020. The main purpose of ENT surgical devices is to provide diagnosis, treatment, and surgery associated with diseases of the ear, nose, and throat.
Technological advancements in the medical field have resulted in a sharp increase in demand for new and sophisticated devices. In response to the new business strategy, there will be a proliferation of disruptive technological innovations in the ENT surgical industry. Tier 1 and Tier 2 players will exhibit dominance in the market. A CAGR of nearly 7% is projected for the 2021-2031 forecast period.
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ENT surgical devices, such as robotic systems for cochlear implantation and endoscopic sinus surgery, are growing in demand. The shift from traditional to care-delivery models has influenced the growing demand for laser treatments.
Robots such as the Pathfinder neurosurgery robot, the Acrobot knee replacement tool, and the autonomous smart drill for drilling tracheostomies are growing in demand. There is an ongoing increase in the demand for plastic procedures, such as rhinoplasty and otoplasty surgeries, which leads to an increase in the demand for the surgical devices in the market.
The economic rebound, high popularity, and safety of many cosmetic procedures, as well as the improving financial conditions in emerging economies, are some of the major factors driving demand for ENT surgical equipment.
Manufacturers are involved in copious R&D initiatives to dole out technologically advanced surgical alternative with respect to ENT surgeries.
Growing demand for 3D procedures, robotic surgeries, augmented visualization diagnosis, and digitalized interpretation is increasing adoption of digital devices.
Research and development for product manufacture are heavily dependent upon clinical approvals and FDA clearances. These are major factors for industry success.
The U.S holds one of the largest market share for ENT devices. With insurance policies not covering cosmetic procedures, ENT procedures receive increasingly favorable reimbursement, which is driving the market for these devices.
Additionally, well-developed healthcare infrastructure, highly sophisticated equipment, skilled practitioners, and government support are some of the factors driving demand for surgical devices in these regions.
There is an increasing number of cases related to eye, nose, and ear diseases, and various deadly infections, fueling the need for ENT surgical devices in the market. A CAGR of around 7% is projected for the U.S market.
Asia is predicted to grow the fastest during the forecast period. The growing population of the region, along with the aging population and diseases associated with it, will grow the demand for ENT surgical devices in the region.
Increasing awareness about ENT disorders and expansion of distribution networks are stimulating the growth of ENT devices in the regional market. Collectively, India and China will account for more than 60% of total ENT surgical devices demand in Asia.
Technological firms are investing in these developing countries and opening retail stores to expand their footprint in the market showing a tremendous need for devices in this region.
In the medical field, use of augmented visualizations is growing as the advancements in medical imaging technologies have allowed physicians to gain a greater understanding of anatomical and functional data.
Surgical visualization systems allow surgeons to markup pre-operative images and combine them with intraoperative images to provide a more comprehensive picture. A market share exceeding 40% is anticipated for this segment.
Demand for ENT procedures has increased the popularity of ambulatory surgical centers on the market. Affordability of ENT procedures, the growing accessibility of health infrastructure, and increased awareness concerning the success or failure of procedures is driving demand.
ASCs aim at providing patients with the best surgical experience possible at the lowest possible cost to the government, third parties, and patients. According to Fact.MR, a CAGR of 5% is projected for ASC ENT surgical devices until 2031.
Revenue and market share can be increased by ENT surgical devices through strategic collaborations. Innovative technologies and equipment allow manufacturers to grow into new markets.
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In 2020, the market size for ENT surgical devices was estimated at US$ 2.5 Bn, according to Fact.MR’s analysis
Between 2016 and 2020, sales of ENT surgical devices expanded at a CAGR of 6%
As per Fact.MR’s report, the global market for ENT surgical devices is slated to reach US$ 4.8 Bn by 2031
Rising aging population, rise in disposable income, rising disorder and ENT diseases are driving demand for ENT surgical devices
As per Fact.MR, Medtronic Plc. and Olympus Corporation account for over 58% share of the global market
The U.S is expected to hold a dominant share, expected to grow at a CAGR of 7%
Olympus Corporation, Medtronic Plc., Carl Zeiss Meditec AG, Danaher Corporation (Leica Microsystems) and Shanghai Fosun Pharmaceuticals Ltd. (AC. Alma Lasers) are the top 5 manufacturers
The ENT surgical device market is growing at a CAGR of nearly 7% over the next decade
Financial policies and favorable reimbursements to ENT procedures are major factors driving the growth of the global ENT surgical devices market.
Asia represents credible growth opportunities, with India and China collectively accounting for 3 out of 5 sales
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