Overview of This Study:

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.

Recent Developments:

# In 2020, Sonova holding AG expands its ENT product development and commercial manufacturing by setting up World of Hearing, which is a new store concept in the field of hearing solutions in the Netherlands Sonova holding AG launched new technology and enabled fully remote hearing aid fittings. In 2020, Sonova holding AG launched new technology and enabled fully remote hearing aid fittings.

# In 2020, William Demant holding A/S launched different products that include new premium audio brand EPOS, Oticon’s remote care solution offers a new tool to hearing care professionals, EPOS brings gamers ‘out of this world’ premium audio equipment to perfect the immersive gaming experience, greener hearing aid packaging, new ground-breaking hearing aid technology in all its four hearing aid brands, namely, Oticon, Philips HearLink, Bernafon, and Sonic.

Major Industry Growth Dynamics:

The growth in this market is attributed to the growing prevalence of sinusitis, rapidly growing geriatric population, favorable reimbursements for ENT procedures in developed countries, growing adoption of minimally invasive ENT procedures, increasing presence of prominent players in the ENT devices market, and technological advancements.

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DRIVER: Favorable reimbursement scenario for ENT procedures in developed countries

In the developed countries, surgical procedures for ENT are reimbursed in most cases, such as balloon sinus dilation and endoscopic sinus surgery, computer-assisted surgical navigation, tongue suspension and hyoid suspension for the treatment of obstructive sleep apnea (OSA), and inferior turbinoplasty procedures. Only ENT surgeries performed mainly for snoring (considered as a cosmetic problem) are not reimbursed at all which include procedures such as pillar procedure, radio frequency ablation, injection snoreplasty, laser ear surgery, cosmetic rhinoplasty, and otoplasty.

OPPORTUNITY: Growing healthcare market in emerging economies

Developing economies such as China, India, and LATAM (Latin American) countries represent significant growth opportunities for players in the ENT devices market. According to OECD, the global middle-class population is estimated to increase from 1.8 billion in 2009 to 4.9 billion in 2030. Asia is expected to account for 66% of the global middle-class population by 2030. In countries such as China and India, the growth in purchasing power is enabling people to purchase technologically advanced ENT devices, thereby fueling the growth of the market.

Moreover, factors such as less stringent regulatory policies, rapid urbanization, improving healthcare facilities, rising disposable income, and rapidly aging elderly population open an array of opportunities for the growth of this market in emerging economies. In order to leverage the growth opportunities in the ENT devices market, various market players are focusing on expanding their market presence in developing nations.

CHALLENGE: Increasing pricing pressure on market players

Over the last decade, healthcare cost reduction has emerged as one of the major focus areas in healthcare systems. Price regulations, competitive pricing, bidding, tender mechanics, coverage and payment policies, the comparative effectiveness of therapies, technology assessments, and managed-care arrangements are implemented to achieve this. In response to the increasing pressure to reduce healthcare costs, healthcare providers have aligned themselves with group purchasing organizations and integrated health networks that negotiate for the bulk purchase of medical devices. The bulk purchasing trend increases the pricing pressure and decreases the profit margins for players, particularly for small and medium-sized manufacturers that offer a limited range of ENT devices.

Reforms on payments such as prospective payment systems for hospital care, preferential site of service payments, and value-based purchasing have added to the pressure on medical device companies. Furthermore, hospitals are consolidating, and large group purchasing organizations, hospital networks, and other groups continue to seek ways to aggregate purchasing power.

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 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, high prevalence of hearing loss, rapidly growing elderly population, and technological advancements in hearing aid are the major driving factors for this market.

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North America accounted for the largest share of the ENT Devices market in 2020

Based on the region, the ENT Devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2020, North America accounted for the largest share of the ENT Devices market. The large share of North America can primarily be attributed to the increasing favorable reimbursement scenario for ENT procedures and the strong presence of major market players in this region.