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ENT Diagnostic Devices Market

ENT Diagnostic Devices Market

Technological Advancements in Bronchoscopy Devices & Infrastructural Upgrade in Healthcare Industry to Stimulate ENT Diagnostic Devices Market Growth

ENT Diagnostic Devices Market
FACT2468MR
  • Jul-2021
  • List of Tables : 38
  • List of Figures : 129
  • 170 Pages
  • Healthcare

Market Snapshot

Newly released data from Fact.MR shows that global demand for ENT diagnostic devices will enjoy compounded annual growth exceeding 6% until 2031. Demand for ENT diagnostics devices products surpassed US$ 2 Bn, while the surgical devices product segment was up 6.5%.

According to NIH, the world’s older population remains to cultivate at an extraordinary rate of around 8%. Snowballing geriatric population globally and rising ENT disorders occurrence worldwide surge the demand for ENT diagnostic devices

Key Points Covered in ENT Diagnostic Devices Survey

  • Market Estimates and Forecasts 2016-2031
  • Key drivers and restraints shaping market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on ENT Diagnostic Devices and how to navigate
  • Recommendation on key winning strategies.

Know More Details About the Report

ENT Diagnostic Devices Marketplace Analysis 2016-2020 Vs Future Outlook for 2021 to 2031

According to Fact.MR- a market research and competitive intelligence provider- ENT diagnostic devices sales registered a stable CAGR of 4% during 2016-2020. Technological advancements with regard to ENT surgeries has broadened demand for ENT diagnostic devices, with a recorded value of US$ 16 Bn.

The World Health Organization (WHO)  estimates that over 400 million, including 34 million children, live with disabling hearing impairments, affecting their health and quality of life. Hence, the global demand for hearing aids surged in the recent years.

The market is projected to expand at over 6% CAGR throughout the 2021-2031 forecast period. It is estimated that global ENT medical devices market will reach US$ 30 Bn over the forthcoming period.

How are Technological Breakthroughs Spurring ENT Diagnostic Devices Demand?

Integration of advanced technology for developing superior quality ear, nose, and throat devices coupled with successful product launches and approvals by regulatory bodies will drive the ENT devices market growth. 

Technological advancements in bronchoscopy devices and the infrastructural upgrade in the medical and healthcare industry are anticipated to continue increasing progressively in the years to come. Also, bronchoscopes reported for roughly 1/3rd of global revenues in 2021.

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Which are Some Lucrative Growth Opportunities for ENT Diagnostic Devices Technology?

Escalation in health awareness united with upsurge in demand from the geriatric population has been boosting the sales of ENT medical devices since the past decade, while adoption of cutting-edge technologies is further augmenting demand growth for ENT medical device suppliers.

Moreover, the demand for ENT diagnostics devices is anticipated to surge, generating favourable regulatory landscapes across Europe and North America. Henceforth, these regions will experience noteworthy growing opportunities throughout the forecast period.

What Are Some Key Trends in the Market?

According to the Hearing Loss Association of America and CDC, hearing loss is the 3rd most prevalent type of health issue after heart diseases and arthritis among the adult population base. As per a report by HLAA, nearly 25% of Americans experience tinnitus who are extremely vulnerable to hearing loss.

At the same time, point-of-care computed tomography is trending in the diagnosis of patients with historical symptoms suggestive of paranasal sinus inflammation. Moreover, hearing devices with artificial intelligence, Bluetooth compatible hearing devices are gaining popularity across the world.

An Adaptive Approach to Modern-day Research Needs

Challenges to ENT Diagnostic Devices Market Expansion

Absence of awareness about the severity of ENT related diseases and additional maintenance and replacement cost of devices impede the market growth of ENT diagnostics.

As mentioned in the report, incorporation of modern technologies in the process cycle incurs extra cost. However, manufacturers are working to eradicate the restrains in the market expansion during the forecast period.

Country-wise Analysis:

Why is the U.S Experiencing High Demand for ENT Diagnostic Devices?

Fact.MR’s analytical report reveals that the U.S dominated the ENT devices market with a share of nearly 40% in 2020. Expanding geriatric population has surged the demand for ENT screening.

Also, it is anticipated that some ENT device applications, such as those for sinus stents, RF & powered instruments, endoscopes and balloon dilation devices will see steady demand of approximately 6% over the forecast period.

Hospitals and ENT clinics drive bulk of the demand in the U.S. Presence of prominent players such as Medtronic, Cochlear, Olympus, Smith & Nephew and Siemens Healthineers further boost expansion prospects in the U.S. market.

Why is Demand for ENT Diagnostic Devices Flourishing in China?

China is anticipated to exhibit substantial growth in ENT diagnostic devices demand in the forthcoming decade. In 2020, the medical device market touched US$ 80 Bn, an upsurge of 22% from 2017. Over 70% of this growth was fuelled by end user hospital procurement.

Besides, Chinese suppliers largely compete in low-end consumables, false teeth, hearing aids, mechano-therapy apparatus, wheelchairs, etc. On the other hand, demand for high-end consumables, such as diagnostic imaging and endoscopy surged is expected to heighten during the forecast period 2021-2031.

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Category-wise insights:

Why are Hearing Aid Devices Highly Preferred?

Factors such as high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids are driving sales of hearing aids. A CAGR of around 5% has been projected for this segment.

Latest innovations in hearing aid devices such as Bluetooth compatibility, artificial intelligence, Smartphone apps and rechargeable batteries are all expected to make credible breakthroughs in the hearing aid domain.

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advances for cancer screening, mergers, and acquisitions.   

  • In April 2021, Key player Siemens Healthineers AG completes acquisition of Varian Medical Systems, strengthening its position as a holistic partner in healthcare
  • Likewise, Hillrom announced major technological advances to its market-leading physical assessment tools with the launch of the new Welch Allyn® PanOptic™ Plus Ophthalmoscope and the Welch Allyn® MacroView® Plus Otoscope. 
  • In May 2021, another key player Sennheiser has announced that Switzerland-based Sonova Holding AG has acquired its consumer audio division for €200 Mn. With Sonova taking over the Consumer Electronics business, Sennheiser intends to focus exclusively on producing professional products under its Pro Audio, Business Communications, and Neumann divisions.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

 

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Companies Profiled

 

  • Atos Medical AB
  • Siemens Healthineers
  • Rion Co., Ltd.
  • Welch Allyn
  • Sonova Holding AG
  • Smith & Nephew Plc.
  • Hoya Corporation
  • Olympus Corporation
  • Medtronic Plc.

Pricing

Available upon Request

Key Segments

  • By Product

    • ENT Diagnostic Devices
      • ENT Endoscopes
      • ENT Hearing Screening Devices
    • ENT Surgical Devices
      • Powered ENT Surgical Instruments
      • ENT Supplies
      • Ear Tubes
      • Hearing Aids
      • ENT Image-guided Surgery Systems
      • Other ENT Diagnostic Products
  • By End User

    • ENT Diagnostic Devices for Hospitals
    • Diagnostic Devices for ENT Clinics
    • ENT Diagnostic Devices for Other End Users

ENT Diagnostic Devices Market- Scope of Report

A recent study by Fact.MR on the ENT diagnostic devices market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of the ENT Diagnostic Devices market.

The study also provides the dynamics responsible for influencing the future status of the ENT Diagnostic Devices market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the ENT Diagnostic Devices market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers a comprehensive analysis of diverse features, including production capacities, demand, product developments, revenue generation, and sales of the ENT Diagnostic Devices market across the globe.

A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the ENT Diagnostic Devices market during the forecast period. Price point comparison by region with the global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative ENT diagnostic devices markets?
  • Which factors will impact the growth of ENT diagnostic devices?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the ENT diagnostic devices industry?
  • What are the winning strategies of stakeholders in the market?

Analysis of Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for the ENT diagnostic devices market are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global ENT diagnostic devices market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which has helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the ENT diagnostic devices market during the forecast period.

Country-specific valuation on demand for ENT diagnostic devices market has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of the ENT diagnostic devices market, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in producing ENT diagnostic devices have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which includes essentials such as product portfolios and key strategies, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the ENT Diagnostic Devices market domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the ENT diagnostic devices market industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the draw conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

As of 2020, sales of ENT diagnostic devices diagnostics reached US$ 16 Bn

From 2016 to 2020, sales of ENT diagnostic devices diagnostics expanded at approximately 4% CAGR

From 2021 to 2031, demand for ENT Diagnostic Devices diagnostics is expected to surge at over 6% CAGR

Continuous technological advancements to incorporate state-of-the-art diagnostic technology is driving market expansion

Demand for ENT diagnostic devices diagnostics in the U.S is expected to account for 40% revenue until 2031

Atos Medical AB, Siemens Healthineers, Rion Co., Ltd., are some prominent ENT diagnostic devices players included in Fact.MR’s report

Hospitals will continue to be the most lucrative tests for ENT diagnostic devices

China is anticipated to capture over 50% market demand for ENT diagnostic devices

Hearing aids are the most popular ENT surgical devices, expanding at around 5% CAGR

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.