ENT Devices Market - Emerging Technological Advancements & Future Forecasts


Posted March 23, 2022 by mmvaidya

Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
 
According to the new market research report, "ENT Devices Market by product (Diagnostic (Endoscope, Hearing Screening Devices), Surgical Devices, (Powered Surgical Instruments, ENT Supplies, Ear Tubes), Hearing Aids, CO2 Lasers, & End Users (Hospital & ASCs, ENT Clinics)- Global Forecast to 2026", size is projected to reach USD 22.3 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 6.6%.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150060281

Global Industry Growth Boosting Factors:

The growth in this market is attributed to the rising aging population and the associated hearing loss, rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising product availability and awareness.

Overview:

The study involved four major activities in estimating the current size of the ENT Devices market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

DRIVER: High prevalence of ENT disorders or diseases

Sinusitis is a medical condition wherein the cavities around the nasal passages (sinuses) are inflamed or swollen for more than twelve weeks. Chronic sinusitis is one of the most common medical conditions and accounts for around USD 8.6 billion in annual healthcare costs in the US (Source: Entellus Investor Presentation). According to the Centers for Disease Control and Prevention (CDC), in the US, about 12.1% of the adult population (or 29.4 million people) suffers from chronic sinusitis. Also, more than 0.5 million surgeries for the treatment of chronic sinusitis are performed in the US every year (Source: Intersect ENT Presentation 2018). Similar to the US, chronic sinusitis is a highly prevalent condition in the UK and affects 10% of the adult population in the country (Source: NHS).

Request FREE Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=150060281

OPPORTUNITY: High demand for cosmetic ENT procedures

Despite the fact that a large number of medical insurance companies do not reimburse cosmetic ENT procedures, there is an increasing demand for cosmetic ENT procedures such as cosmetic rhinoplasty (nose reshaping) and otoplasty (ear reshaping). Technological advances; less-invasive procedures; higher popularity, safety and accessibility of most cosmetic procedures; rebounding US economy; and rising disposable incomes in emerging economies are some of the major factors encouraging people to spend for cosmetic ENT procedures to improve their appearance.

CHALLENGE: Dearth of skilled otolaryngologists and ENT surgeons

Currently, several countries are facing a shortage of skilled professionals who are capable of effectively performing ENT procedures. In 2012, there were 8,600 otolaryngologists in the US, and it is estimated that there will be a shortage of 2,500 otolaryngologists in the country by 2025 (Source: Pubmed.gov). Furthermore, underdeveloped countries and regions face this problem on a much wider scale. For example, in 2017, the number of ENT surgeons in Nigeria was less than 200, while 199 were still in training. This number is inadequate to meet the health needs of a population of over 180 million (Source: Oto-Rhino-Laryngological Society of Nigeria).

Similarly, according to a Survey of ENT services in sub-Saharan Africa (2017 Survey), the total population of the 22 countries represented in the study (in sub-Saharan Africa) was 720,500,000 (75% of the population of sub-Saharan Africa). Among the 22 countries that were sampled, there were a reported total of 847 ENT surgeons, 580 audiologists, 906 speech therapists, 264 ENT clinical officers, and 320 oncologists. The dearth of skilled ENT surgeons in these countries is expected to limit the number of ENT procedures performed in spite of the presence of a large target patient population base. This is considered a major challenge for market growth.

Hospitals and Ambulatory Settings accounted for the largest share of the ENT Devices market in 2020

By end user, the ENT Devices market is segmented into a Home Use, Hospitals and Ambulatory Settings, ENT Clinics. Hospitals and Ambulatory Settings segment accounted for the largest market share in 2020. The increasing rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising knowledge and awareness regarding the procedure’s success or failure is the major driving factors for this market

Speak to Analyst for More Detailed Information@ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=150060281
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags ent devices , ent devices market
Last Updated March 23, 2022