The spread of Covid-19 pandemic declined the global sales of interventional ENT devices in 2020 leading to slowdown in its market progress. Due to economic slowdown, the government lifted up all the restrictions and allowed manufacturing companies to start back their operations. In 2021, the manufacturers are focusing on delivering innovations to increase their sales.
Recent Developments in Interventional ENT Devices Market
Prominent players like Sonova Holdings, Karl Storz, Olympus Corporation, Hoya Corporation, William Demant Holdings and Cochlear Limited are investing in technological developments, hiring of professionals for technical expertise, establishing research institutes & new plants, product innovations etc in 2021 to secure a larger market share.
Many latest micro hand devices and bone-anchored hearing aids are getting launched in 2021 by leading players including Stema Medizin, Sonova and Starkey Laboratories Limited to maintain healthy competition.
For instance, Medtronic Corporation, a global leader in medical technology expanded its ENT portfolio with FDA Clearance of its NIM Vital Next Generation Intraoperative Nerve Monitoring System on 29th October, 2020. This system enables physicians to identify, confirm and monitor the nerve function for reducing the risk of nerve damage during neck and head surgery. The NIM Vital system uses proprietory technology to provide detailed intraoperative nerve condition data that informs surgical strategy, increases operative efficiency and protects patient’s life. The company has also announced the enhancement of its ENT portfolio with the acquisition of privately held Ai Biomed Corporation, the maker of PTeye parathyroid detection system designed to confirm parathyroidtissue identified visually by the physicians during thyroid surgery. Both the NIM Vital and PTeye systems empower surgeons to improve their ENT procedures. The addition of these two technologies are supporting Medtronic’s goal of using innovative technologies to improve ENT treatment procedures in 2021. These are enabling the surgeons to confirm parathyroid tissues in thyroid surgeries.
In addition to that, Olympus Corporation, a global technological leader in designing and delivering innovative solutions in medical and surgical procedures announced the launch of two video rhino-laryngoscopes for the laryngological examinations on 12th September, 2019. The ENF-VH2 and V4 are slim and lightweight used to minimize strain and maximize performance for ENT specialists looking for lesions and speech language pathologists evaluating the physiology of swallowing. The ENF-VH2/V4 supports the diagnostic and treatment capabilities of physicians and therapists by enabling them to capture the sharpest images, facilitate single-hand control and enhance maneuverability. With the goal of supporting healthcare organizations in achieving the Quadruple Aim, Olympus is offering best-in-class solutions for ENT professionals to connect video rhino-laryngoscopes to their EMR network for increased efficiencies and enhanced patient care using the nCare medical recorder and VaultStream medical content management system.
While many interventional ENT devices manufacturers such as Acclarent Inc. are seeking the FDA approval for their interventional ENT devices, there are many other strategic actions carried out by the other leading manufacturers. The increasing occurrences of ENT disorders are contributing to the development of improved interventional ENT devices for enhanced treatment. With FDA approval, the interventional ENT devices are being utilized in the healthcare sector on a large scale. With constant improvements in the existing devices, manufacturers are engaging providing better devices for enhanced patient care.
Acquisitions Strategies to Boost the Interventional ENT Devices Market
Moreover, with the growth attained by the healthcare sector has been providing various opportunities to the medical devices providers. The increasing use of interventional ENT devices to treat ENT disorders in a minimally invasive manner is expected to foster the business of the interventional ENT devices. With strategic acquisitions and expansion plans, players such as Stryker Corporation are continuously working towards growing the scope of their business and catering to the changing needs of the medical sector with the help of advanced technology and improved devices.
Interventional ENT devices are generally meant for the treatment of various problems around the ear, nose and throat. These organs are meant for some of the most important functions in a human body, so it remains very essential for them to function properly. In case of any major problems in the functionality of these parts, surgical procedure remains a solid treatment type, which is vividly carried by interventional ENT devices.
The ENT department primarily focuses on interventional ENT devices that are meant to treat the problems associated with smelling, hearing, snoring, breathing and other basic problems, which could advance to nasal disorders such as nasal septum, sinusitis, nasal septum deviation nasal polyps and chronic atrophic rhinitis.
Drivers and Restraints
Interventional ENT devices are meant for some serious treatment regions, which make it a rather important market to invest in as the market is continuous in its approach and need. The market is driven by the increasing number of reported ENT disorders.
Technology has led the market to adopt new methods in order to form interventional ENT devices, which are minimally invasive in its approach as the rush for minimally invasive methods in healthcare sector is rising. The interventional ENT devices are increasingly adopted due to the cosmetic advancements.
Technological advancements in interventional ENT devices has led the market to be more involved with patients with high quality offered from the companies, which has a positive impact on the growth of the market. However, the social stigma still remains the same for labelling it quite expensive as compared to other non-invasive prosthetic implants or devices, which might hinder the growth of the market for interventional ENT devices.
By product type
- Radiofrequency headpiece
- Powered surgical instrument
- Ontological drill burs
- ENT hand instruments
- Sinus dilation devices
- Nasal packing devices
- Tympanostomy tubes
- Specialty clinic
- Ambulatory surgical center
The global market for interventional ENT devices is expected to witness moderate growth over the forecast period. Majority of the growth is related to the rising number of interventional ENT devices used in reported cases observed in the ENT department.
Surgical treatments are performed using interventional ENT devices in the generic market and thus there exists a high competition among local and regional players to develop products that are highly compatible and useful to majority of users.
Among the product types, the ENT hand instruments segment is expected to lead over the forecast period due to its regular use in generally all surgical procedures. Radiofrequency headpiece is expected to contribute high share as it is the most accessible channel and rather new approach to treat patient, it is highly affective for patient with snoring problem.
Interventional ENT Devices Market: Regional Outlook
Geographically, the market is segmented into viz. North America, Latin America, Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
North America is expected to be the dominant market in the global interventional ENT devices market owing to high prevalence of the reported cases for ENT disorders. The market in Asia Pacific excluding Japan is expected to grow at a significant CAGR due to expansion of product offerings by the key players.
Europe is expected to have second large share in the global interventional ENT devices market throughout the forecast period due to its high-quality healthcare facilities and modern outlook for interventional ENT devices.
The market is highly fragmented. Examples of some of the key players operating in the global interventional ENT devices market are
- Medtronic PLC
- Karl STORZ GmbH & Co.
- Olympus Corporation
- Stryker Corporation
- Acclarent Inc.
- Sonova Holdings AG
- Hoya Corporation
- William Demant Holdings A/S
- Cochlear Limited.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
- Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, Rest Of MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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