USD 21.77 billion
Report ID:
SQMIG35A2203 |
Region:
Global |
Published Date: September, 2024
Pages:
251
|Tables:
65
|Figures:
75
Global ENT Devices Market size was valued at USD 17.3 billion in 2022 and is poised to grow from USD 18.45 billion in 2023 to USD 30.81 billion by 2031, growing at a CAGR of 6.62% during the forecast period (2024-2031).
The growth of the market is attributed to factors such as rising geriatric population, high prevalence of hearing loss, rising prevalence of minimally invasive surgeries. In addition, adoption of advanced technologies, increasing healthcare investment for early detection, and favourable regulatory policies are the factors propelling market growth.
According to the Action on Hearing Loss Information, in the U.K about 11 million people suffered from hearing loss, out of which 8 million people were in the 65 & above age group. Healthcare system has witnessed a shift from conventional surgeries to minimally invasive procedures in ENT specialty. Increasing technological advancements such as adoption of ArtificiaI Intelligence and Machine Learning and innovations in auditory product are the factorthatch contribute to the market growth. For instance, in Oct 2021, Audibel, a health technology company launched Arc AI, an AI hearing aid. It is programmed to automatically adjust hearing volume and is available in various styles such as behind-the-ear and completely in-canal styles.
US ENT Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 21.77 billion
Largest Segment
Surgical ENT devices
Fastest Growth
Surgical ENT devices
Growth Rate
5.74% CAGR
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Global ENT Devices Market is segmented by Product, End User, and Region. Based on Product, the market is segmented into Diagnostic Devices (Endoscopes (Rigid Endoscopes (Otoscopes, Sinuscopes), Flexible Endoscopes (Rhinoscopes, Laryngoscopes, Pharyngoscopes, Nasopharyngoscopes), Hearing Screening Devices)), Surgical Devices (Powered Surgical Instruments, Radiofrequency (Rf) Handpieces, Handheld Instruments (Rhinology Instruments, Otology Instruments, Laryngeal Instruments, Head And Neck Surgery Instruments, Other Handheld Instruments), Balloon Sinus Dilation Devices, ENT Supplies (Packing Material, Nasal Stents & Splints), Ear Tubes, Voice Prosthesis Devices), Hearing Aids, Hearing Implants, CO2 Lasers, Image-Guided Surgery Systems. Based on End User, the market is segmented into Home Use, Hospitals And Ambulatory Settings (ENT Clinics). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
ENT Devices Market Analysis by Product Type
The surgical ENT devices segment is expected to dominate the global market during the forecast period. surgical ENT devices include radiofrequency handpieces, ontological drill burs, hand instruments, sinus dilation devices, and nasal packaging devices. The growth of the segment is attributed to increasing preference for minimally invasive surgeries and the increasing prevalence of ENT devices.
The hearing implants is expected to grow at the fastest rate during the forecast period. The growth of the segment is due to increasing adoption of hearing implants, increasing awareness about cochlear implants as non-invasive procedures, and the launch of new products by the key players. In Aug 2021, Cochlear Ltd. Launched the Nucleus Kanso-2 sound processor in Singapore. It can be used in off-the-ear cochlear implants and is the smallest sound processor globally. It provides direct streaming from android or iOS devices and is linked to the Nucleus Smart App.
ENT Devices Market Analysis by End User
Hospitals and ambulatory settings are expected to account for the largest share during the forecast period. The growth of this segment is attributed to factors such as increasing disposable income, rising affordability for ENT treatment, increasing prevalence of hearing loss, rising geriatric population, and the technological advancements in hearing aids.
The ENT clinics segment is expected to grow at a fastest rate during the forecast period. the growth of this segment is attributed to increasing advancements in clinical diagnosis methods and rising awareness about diagnosis and treatment of the disease.
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North America is expected to dominate the global ENT devices market during the forecast period. The market growth in the region is attributed to increasing prevalence of ENT-related disorders, rising demand for hearing care products, the presence of large hospital chains, highly equipped ambulatory facilities, and rising geriatric population. Further, supportive governments regulations for portable medical devices, the presence of local key market players, and the increasing adoption of advanced technologies are the key factors that drive market growth.
Europe is expected to account for the second largest revenue share during the forecast period. The region has high product penetration for hearing aids due to well-established healthcare infrastructure and high patient awareness level.
Asia Pacific is expected to grow at the fastest rate during the forecast period. increasing investments by key players, rising awareness about the early diagnosis of diseases, increasing healthcare expenditure are the factors that contribute to the market growth. In addition, technological advancements such as wireless, real-time monitoring, and rising support from regulatory bodies are anticipated to promote market growth.
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ENT Devices Market Driver
Technological Advancements in ENT Devices
ENT Devices Market Restraint
High Cost of ENT Procedures
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The global ENT devices market is highly fragmented and competitive due to presence of various domestics and international players. Key players adopted strategies such as acquisitions, partnerships, and the launch of new products to strengthen their position in global market. Major players increased their investments in R&D to produce technologically advanced ENT devices.
ENT Devices Market Top Player's Company Profiles
ENT Devices Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to Global ENT devices market analysis, increasing ENT-related disorders, growing geriatric population, adoption of advanced technologies, increasing government investments are the key factors that drive market growth. In addition, a shift towards minimally invasive procedures is anticipated to drive market growth. North America is expected to dominate the global market due to supportive government regulations. High cost associated with some of the ENT procedures is hamper the market growth.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 17.3 billion |
Market size value in 2031 | USD 30.81 billion |
Growth Rate | 6.62% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the ENT Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the ENT Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the ENT Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the ENT Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35A2203