ENT Devices Market Size Worth USD 29.56 Billion by 2030 at 6.20% CAGR – Report by Market Research Future (MRFR)

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ENT Devices Market Trends and Insights By Product (Diagnostic Devices (Endoscopes (Rigid Endoscopes, Otoscopes, and Sinuscopes), Flexible Endoscopes (Rhinoscopes, Laryngoscopes, Pharyngoscopes, and Nasopharyngoscopes), Hearing Screening Devices), Surgical Devices (Powered Surgical Instruments, Radiofrequency (RF) Handpieces, and Handheld Instruments, (Rhinology Instruments, Otology Instruments, Laryngeal Instruments, Head And Neck Surgery Instruments, and Others), Balloon Sinus Dilation Devices, ENT Supplies (Packing Material and Nasal Stents & Splints), Ear Tubes, Voice Prosthesis Devices), Hearing Aids, Hearing Implants, Co2 Lasers, and Image-Guided Surgery Systems), By End User (Hospitals, Ambulatory Settings, ENT Clinics, Research And Academic Institutes, Home Care Settings, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World), Competitive Market Gr

New York, USA, May 29, 2023 (GLOBE NEWSWIRE) — ENT Devices Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “ENT Devices Market Information By Product, End User and Region – Forecast till 2030”, the market Size was valued at USD 19.4 billion in 2022 and is projected to grow from USD 20.60 Billion in 2023 to USD 29.56 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2023 – 2030).

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Market Scope

The growing prevalence of geriatric populations and rising incidences of ENT disorders are just a few of the market drivers that are driving the market. A hearing aid is an inconspicuous electronic device carried back or in the ear. For people with hearing loss to hear, communicate, and engage in daily activities to a bigger extent, it amplifies some sounds. In loud or quiet settings, hearing aid users can hear more clearly. Hearing aids are most helpful for people with hearing loss brought on by damage to the tiny sensory cells in the inner ear in terms of improving hearing and speech comprehension.

Even though the geriatric population is growing, there is an increasing demand for ENT devices. However, one of the main growth inhibitors for the ENT devices market is the high cost of ENT devices and procedures. Products from the market for ENT devices are widely used for numerous purposes. The monetary value of ENT devices is certain to increase with the expansion of the healthcare industry and higher expenditures in medical facilities and technology.

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Favorable ENT reimbursement policies have also aided positive market trends. Most of the time, hearing impairments can be treated with devices or additional supports like hearing tubes, but occasionally surgery is necessary. The market for ENT devices is experiencing tremendous growth due to the aging population, the rising prevalence of ongoing infections and wounds, and these factors combined. Two methods, specifically screening tools and endoscopes can be used to diagnose ENT illnesses. Due to their high cost, ENT devices are a prohibitively expensive luxury to numerous individuals and modest to medium-sized hospitals. The aging population is the primary factor driving the ENT devices market growth. In addition, the growth is being further spurred on by technological advancement and the appearance of new market players. Additionally, the prevalence of ENT conditions is fueling the market.

Report Scope:

Report Attribute Details
Market Size in 2030 USD 29.56 billion
CAGR 6.20%
Base Year 2022
Forecast Period 2023-2030
Historical Data 2021
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product and End User
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Rising geriatric population and increasing incidences of ENT disorders
Increasing prevalence of hearing impairment in population

ENT Devices Market Competitive Landscape

The visionaries in the market of ENT devices are:

  • Atos Medical AB
  • Cochlear Limited
  • Hoya Corporation
  • Johnson & Johnson Services Inc.
  • Karl Storz Gmbh & Co. Kg
  • Medtronic PLC
  • Olympus Corporation
  • Rion Co. Ltd
  • Siemens Healthcare

ENT Devices Market Trends:

Market Drivers:

The main factors driving market expansion include an increase in ENT-related illnesses, an aging population, and a rise in the use of less invasive ENT procedures. Technology advancements are crucial to the market’s growth. Robot-assisted endoscopes, among other advanced ENT structures and tools, are not commonly used in developing economies due to their costly price tag and limited use in developed ones like the U.S. It will be expected that increased healthcare spending by other governments and increasing incomes per capita will significantly boost market penetration. Due to the high prevalence of ENT diseases, including hearing impairment and sinusitis, and increased efforts to provide better access, sales are anticipated to increase quickly in developing economies.

The market for ENT devices is expected to grow primarily due to technological advancements, the rising adoption of alternative ENT procedures, and the rising prevalence of ENT-related disorders. One of the illnesses known as sinusitis is characterized by prolonged inflammation or swelling of the sinus cavities surrounding the nasal passages. Due to functioning and anatomical changes in their bodies, the elderly has a higher risk of developing ear, neck, and throat disorders. As a result, they have a greater need for hospital visits and accurate diagnoses.

Restraints

The expensive ENT devices hamper the market’s expansion. The underdeveloped nations’ inadequate healthcare infrastructure prevents the market from expanding. A lack of understanding of the full potential of ENT devices also serves as a growth inhibitor.

Browse In-depth Market Research Report (90 Pages) on ENT Devices: https://www.marketresearchfuture.com/reports/ent-devices-market-7197

COVID 19 Analysis

The increase in ENT infections in COVID-19 patients drives ENT device requirements. Additionally, due to the lockdown, patients with ENT diseases are experiencing delays in diagnosis and treatments because fewer of them are visiting the hospital. Many hospitals attempt to conserve resources by managing COVID-19 patients who refuse to accept ENT disease diagnoses. However, the market for ENT devices is anticipated to reach its full revenue potential due to ongoing vaccinations and a decline in COVID-19 cases.

Market Segmentation

According to end users, the ENT Devices Market data encompasses ambulatory settings, hospitals, ENT medical centers, academic and research institutions, and home care settings. The surgical, diagnostic, hearing aids, Co2 lasers, hearing implants, and image-guided surgery systems are among the product categories in the ENT devices market segmentation.

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ENT Devices Market Regional Insights

The ENT devices market is anticipated to be dominated by North America, which is anticipated to maintain a similar trend throughout the forecast period with minimal variation. Most market participants have offices in North America, where there is a high prevalence of END disorders and a general understanding of the benefits of utilizing ENT device solutions, both of which are anticipated to be key growth drivers for the region’s market under study. The second-biggest market share belongs to Europe. Some main factors influencing the demand for ENT devices in the European region include rising healthcare costs, increased health awareness, and the rapidly growing interest in minimally invasive surgeries. The industry is also expanding due to innovations in auditory products, the adoption of cutting-edge technologies like AI and ML, and other factors.

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