What is the global market size of ENT Devices Market?

Global ENT Devices Market size was valued at USD 21.77 billion in 2021 and is poised to grow from USD 23 billion in 2022 to USD 35.9 billion by 2030, growing at a CAGR of 5.74% in the forecast period (2023-2030).

Who are the key vendors in the Global ENT Devices Market?

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. 'Medtronic', 'Olympus Corporation', 'Stryker Corporation', 'Smith & Nephew plc', 'Karl Storz SE & Co. KG', 'Johnson & Johnson', 'B. Braun Melsungen AG', 'Atos Medical', 'Cochlear Limited', 'GN Store Nord A/S', 'William Demant Holding A/S', 'Sonova Holding AG', 'Natus Medical Incorporated', 'Acclarent, Inc.', 'Entellus Medical, Inc.', 'Intersect ENT, Inc.', 'Otopront GmbH', 'Spiggle & Theis Medizintechnik GmbH', 'Ambu A/S', 'Teleflex Incorporated'

What is the key driver of Global ENT Devices Market?

Technological Advancements in ENT Devices

What is the key market trend for Global ENT Devices Market?

One of the trends in global ENT devices market is audio streaming- wireless technology has made Bluetooth connectivity a standard feature on most hearing aids. Another trend is the adoption of AI in the ENT devices that helps to track stats such as daily steps, social engagement, and active listening to generate overall wellness score. They can also detect when you have fallen and send an automatic alert to a user’s pre-programmed list of emergency contacts.

Which region accounted for the largest share in Global ENT Devices Market?

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.

ENT Devices Market Size, Share, Growth Analysis, By Product(Diagnostic Devices (Endoscopes (Rigid Endoscopes (Otoscopes, Sinuscopes), Flexible Endoscopes (Rhinoscopes, Laryngoscopes), By End User(Home Use, Hospitals And Ambulatory Settings (ENT Clinics)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2203 | Region: Global | Published Date: September, 2024
Pages: 251 | Tables: 65 | Figures: 75

ENT Devices Market News

In April 2023, Unitron launched Vivante. This is a platform that can improve listener’s experience with the help of personalized hearing control.
In February 2023, Cochlear Ltd. went into a collaboration with Amazon.com, Inc. The objective of the collaboration is to extend audio streaming for hearing aids for people.
In November 2022, Cochlear Ltd. made announcement the extension of its manufacturing plant in Kuala Lumpur, Malaysia. This plant will help in the increasing demand for acoustic and cochlear hearing implants.

ENT Devices Market Report Snapshots

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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 market is evolving and thereby continuously becoming competitive in terms of the R&D works relating to assessing the existing products and their efficiency. The players in the market are involved in the launch of new products and their marketing to the payers. The major players adopt the key strategies of rapid innovations and geographic expansions. The companies compete with one another based on the innovation of the product, its quality, the brand of the company, and its market presence to sell the product through different industries. Hence, the competitive rivalry in this market can be attributed to be high. 'Medtronic Plc ', 'Stryker Corporation ', 'Smith & Nephew Plc ', 'Olympus Corporation ', 'Cochlear Limited ', 'Sonova Holding AG ', 'William Demant Holding A/S ', 'Gn Store Nord ', 'Coloplast ', 'Baxter International ', 'Starkey Hearing Technologies ', 'American Hearing Systems Inc ', 'Narang Medical Limited ', 'Med-El Gmbh ', 'Ws Audiology A/S ', 'Horentek Systems ', 'Audina Hearing Instruments ', 'Sinusys Corporation ', 'Richard Wolf Gmbh ', 'Boston Scientific'

ENT is seeing increasingly higher volumes of minimally invasive techniques utilized to mitigate the time of recovery and reduce any discomfort in the patient. This, in turn, is significantly enhancing the demand for devices used for these ENT procedures. The use of cutting-edge surgical instruments developed specifically for these procedures, as a result, has become increasingly more prevalent.

Increasing Development of Imaging Systems: Technically, there are major changes in the ENT device market with imaging technologies such as the high-definition endoscopes, 3D imaging systems, and handheld ultrasound devices being the ones that are mostly improved in this field. They enhance viewing and this, in turn, ensures that the diagnosis and surgical procedure are as precisely made as possible. In addition, the use of robotics as well as artificial intelligence is integrated into ENT surgeries and their role will increase over the following years. They allow performing more efficient minimal-invasive surgeries.

North America is dominating the global ENT devices market with maximum share. In the North American region, the share was significant due to the advanced healthcare infrastructure and the presence of technological leaderships. The growing incidence of ENT-related disorders, including hearing loss is also driving the market in the region. The demand for devices such as hearing aids and implants is high in the region owing to its aging population. Moreover, the well-established healthcare policies and insurance cover ensure that people get easy access to ENT services and the region’s strong economic conditions allowed them to afford the advanced devices. Increasing investment in R&D for medical devices and the presence leading academic institutions is also driving innovations and competition in the region.

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ENT Devices Market Size, Share, Growth Analysis, By Product(Diagnostic Devices (Endoscopes (Rigid Endoscopes (Otoscopes, Sinuscopes), Flexible Endoscopes (Rhinoscopes, Laryngoscopes), By End User(Home Use, Hospitals And Ambulatory Settings (ENT Clinics)), By Region - Industry Forecast 2024-2031

ENT Devices Market News

ENT Devices Market Report Snapshots

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FAQs

What is the global market size of ENT Devices Market?

Who are the key vendors in the ENT Devices Market?

What is the key driver of ENT Devices Market?

What is the key market trend for ENT Devices Market?

Which region accounted for the largest share in ENT Devices Market?

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