ENT Diagnostic Devices Market

ENT Diagnostic Devices Market Outlook

The global demand for ENT diagnostic devices market  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.

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.

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.

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.

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