ENT Devices Market is Expected to Reach $22.3 Billion | MarketsandMarkets.
Chicago, Aug. 08, 2023 (GLOBE NEWSWIRE) — In the near future, the ENT Devices industry is poised for transformative advancements driven by emerging technologies, personalized healthcare approaches, and evolving patient needs. Technological innovations, including minimally invasive surgical techniques and AI-enhanced diagnostic tools, will redefine treatment paradigms, while telemedicine and remote monitoring will enhance patient access and follow-up care. Hearing aid technologies will continue to evolve with AI-driven features and connectivity, and surgical robotics may revolutionize precision procedures. Regulatory changes, an aging global population, and heightened environmental factors will collectively shape a dynamic landscape, fostering sustainable, patient-centric solutions that improve outcomes, raise awareness, and cater to the diverse demands of ear, nose, and throat health.
ENT Devices market in terms of revenue was estimated to be worth $16.2 Billion in 2021 and is poised to reach $22.3 Billion by 2026, growing at a CAGR of 6.6% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. 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. Moreover, the growth opportunities in emerging markets are expected to provide growth opportunities for players in the ENT Devices market during the forecast period.
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ENT Devices Market Scope:
|Market Revenue in 2021||$16.2 Billion|
|Estimated Value by 2026||$22.3 Billion|
|Growth Rate||Poised to grow at a CAGR of 6.6%|
|Market Size Available for||2019–2026|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Products, End User and Region|
|Geographies Covered||North America (US, Canada), Europe (Germany, France, UK, Spain, Italy, and RoE), APAC (China, India, Japan and the RoAPAC), and Rest of the World|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunities||High demand for cosmetic ENT procedures|
|Key Market Drivers||High prevalence of ENT disorders or diseases|
ENT Devices market major players covered in the report, such as:
- Karl Storz Gmbh & co. KG (Germany)
- Medtronic plc (Ireland)
- Stryker Corporation (US)
- Smith & Nephew plc (UK)
- Olympus Corporation (Japan)
- Acclarent inc. (a subsidiary of Johnson & Johnson) (US)
- Cochlear Limited (Australia)
- Hoya Corporation (Japan)
- GN Store Nord (Denmark)
- Welch Allyn (Hill-Rom Holding Inc.) (Denmark)
- WS Audiology A/S (Denmark)
- Sonova Holding AG (Switzerland)
- Atos Medical AB (Sweden)
- William Demant holding a/s (Denmark)
- Rion Co. Ltd (US)
- Zounds Hearing Inc. (US)
- Starkey Hearing Technology (US)
- MED-EL GmbH (Austria)
- Narang Medical Limited (India)
- American Hearing Systems Inc. (US)
- Meril Life Sciences Pvt Ltd (India)
- SinuSys Corporation (US)
- Intersect ENT Inc. (US)
- Audina Hearing Instruments (US)
- Horentek Systems (Italy)
- Richard Wolf GmbH (Germany)
- Lumenis (Israel)
- Alma Lasers (Israel)
- and Among Others
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This research report categorizes the ENT Devices market into the following segments and subsegments:
- Diagnostic Devices
- Surgical Devices
- Hearing Aids
- Hearing Implants
- Co2 Lasers
- Image-Guided Surgery Systems
Diagnostic Devices Type
- Hearing Screening Devices
Surgical Devices Type
- Powered Surgical Instruments
- Radiofrequency (RF) Handpieces
- Handheld Instruments
- Balloon Sinus Dilation Devices
- ENT Supplies
- Ear Tubes
- Voice Prosthesis Devices
- Home Use
- Hospitals and Ambulatory Settings
- ENT Clinics
- North America
- Asia Pacific
- Rest of the World
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The key stakeholders in the ENT Devices market include:
- Healthcare Providers and Professionals: This includes ENT specialists (otolaryngologists), audiologists, nurses, and other medical professionals who diagnose and treat patients with ear, nose, and throat conditions. They play a crucial role in recommending and using ENT devices for patient care.
- Medical Device Manufacturers: Companies that design, develop, manufacture, and market ENT devices are significant stakeholders. These manufacturers create a wide range of devices, such as hearing aids, endoscopes, surgical instruments, and voice prosthetics.
- Patients: Patients suffering from ear, nose, and throat disorders are important stakeholders as they are the recipients of the medical care provided using ENT devices. Their needs and preferences influence the development and adoption of these devices.
- Healthcare Institutions: Hospitals, clinics, and outpatient centers that provide ENT-related medical services are stakeholders in the market. These institutions make purchasing decisions regarding the acquisition and use of various ENT devices.
- Regulatory Authorities: Government agencies responsible for regulating medical devices, such as the U.S. Food and Drug Administration (FDA) in the United States and the European Medicines Agency (EMA) in the European Union, play a critical role in ensuring the safety and efficacy of ENT devices.
- Research and Academic Institutions: Universities, research institutions, and medical schools contribute to advancements in the ENT field through research, education, and training of medical professionals. Their involvement influences the development and adoption of innovative ENT devices.
- Health Insurance Companies: Insurance companies and payers assess the value and reimbursement of ENT devices, which can influence the accessibility and affordability of these devices for patients.
- Distributors and Suppliers: Companies involved in distributing, selling, and supplying ENT devices to healthcare facilities and providers also play a role in the market. They facilitate the distribution chain and ensure products reach end-users efficiently.
- Advocacy Groups and Patient Organizations: Organizations representing patients with specific ENT conditions, such as hearing loss or vocal disorders, advocate for their needs and interests. They may influence policies, research funding, and device development efforts.
- Government Bodies and Health Ministries: Government agencies overseeing healthcare policies and regulations also impact the ENT Devices market by setting standards, guidelines, and regulations that affect the manufacturing, marketing, and use of these devices.
- Investors and Financial Institutions: Investors, venture capital firms, and financial institutions provide funding and resources to medical device manufacturers, influencing research, development, and commercialization efforts.
- Trade Associations and Industry Groups: Organizations focused on the medical device industry, such as associations of medical manufacturers, provide a platform for networking, knowledge-sharing, and advocacy on industry-related issues.
These are just some of the key stakeholders in the ENT Devices market. The relationships and interactions among these stakeholders shape the development, regulation, adoption, and use of ENT devices globally.
- 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.
Frequently Asked Questions (FAQs) of ENT Devices Market:
Question 1: What is the projected market value of the global ENT Devices market?
Answer: The global market of ENT Devices is projected to reach USD 22.3 billion by 2026.
Question 2: What is the estimated growth rate (CAGR) of the global ENT Devices market for the next five years?
Answer: The global ENT Devices market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.6% from 2021 to 2026.
Question 3: Who are the major players offering ENT Devices in the market?
Answer: Medtronic plc (Ireland), Stryker Corporation (US), Olympus Corporation (Japan), Cochlear Limited (Australia), Sonova Holding AG (Switzerland), William Demant holding a/s (Denmark), etc
Question 4: Which Product segment of the global ENT Devices market is expected to witness the highest growth?
Answer: The Hearing aid segment is projected to grow at the highest CAGR during the forecast period.
Question 5: Which end user segment is expected to grow at the highest CAGR during the forecast period?
Answer: The ENT Clinics to register the highest growth during the forecast period.
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- To define, describe, and forecast the global ENT Devices market based on product, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments with respect to four main regions—North America, Europe, Asia Pacific and the Rest of the World (RoW)2
- To strategically profile key players and comprehensively analyze their product portfolios, market shares, and core competencies3
- To track and analyze competitive developments such as acquisitions, new product launches, expansions, regulatory approvals, and agreements in the ENT Devices market
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