USD 1.96 billion
Report ID:
SQMIG35A2791 |
Region:
Global |
Published Date: September, 2024
Pages:
219
|Tables:
86
|Figures:
76
Sinus Dilation Devices Market size was valued at USD 2.88 Billion in 2023 and is poised to grow from USD 3.07 Billion in 2024 to USD 5.07 Billion by 2032, growing at a CAGR of 6.50% during the forecast period (2025-2032).
Technological advances such as surgical laser technology in sinus surgery ensure minimal incisions and minimal side effects. Reduced turnaround time allows outpatient departments to perform these measures. In 2022, for example, the National Health Service (NHS) introduced a new laser treatment for patients with gallstones. This groundbreaking treatment uses lasers to target and treat the areas of the brain that cause seizures, offering a new and improved way to manage seizures and improve patients’ quality of life.
The COVID-19 pandemic has devastated routine patient care. Many health centres cancelled routine hospital visits and elective surgeries to increase and maintain intensive care units and hospital bed supply and reorganized medical and nursing staff. This prevented oral patient's chronic primary care. Patients opted for teleconsultation and short-term alternatives for sinus-related problems.
For example, the number of surgical procedures performed in Canada fell sharply in the first 31 months of the pandemic, approximately 937,000 fewer surgeries (14%) compared to the pre-pandemic period. These figures include surgery conducted in March 2020 compares to the beginning of 2019. It happened in the first four months (March to June 2020), when many planned medical emergencies were postponed or cancelled in the country all to comply with public health guidelines.
Global Market Size
USD 1.96 billion
Largest Segment
Standalone Sinus Dilation Procedures
Fastest Growth
Standalone Sinus Dilation Procedures
Growth Rate
11.3% CAGR
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Global Sinus Dilation Devices Market is segmented by Product, Procedure, Patient Type, Patient Care Setting, and region. Based on Product, the market is segmented into Balloon Sinus Dilation Devices, Endoscopes [Sinuscopes, Rhinoscopes], Sinus Stents/Implants, and Handheld Instruments. Based on Procedure, the market is segmented into Standalone Sinus Dilation Procedures, and Hybrid Sinus Dilation Procedures. Based on Patient Type, the market is segmented into Adult Patients, Paediatric Patients. Based on Patient Care Setting, the market is segmented into Hospitals and Ambulatory Surgery Centers, ENT Clinics. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Global Sinus Dilation Devices Market Analysis by Product
Balloon sinus dilation (BSD) devices segment accounted for the largest revenue share of over 49% in 2023. BSDs are safe, lightweight, convenient, and effective in improving sinusitis symptoms because muscle there is no breakdown in the sinus dilatation process, thus resulting in faster turnaround times and patient comfort. However, BSD treatment is short-term, and patients may need to be treated more frequently. Balloon sinuplasty is used to treat chronic rhinosinusitis (CRS), a chronic inflammation of the sinuses. According to the NCBI, in 2020, chronic respiratory syndrome (CRS) will be one of the most prevalent chronic medical conditions worldwide, affecting individuals of all ages. Estimated prevalence is 12.3% in the US, 10.9% in Europe, and 13% in China. This condition greatly reduces patients’ quality of life. Interestingly, CRS has been shown to have a greater impact on social functioning than conditions such as ischemic heart disease or chronic heart failure.
The functional endoscopic sinus surgery (FESS) instruments set segment is expected to register a rapid growth rate of over 12.5% during the forecast period. This treats recurrent rhinitis and treatment-resistant chronic rhinitis, with or without polyps. It is a less invasive process and is much preferred over other methods that are expected to grow the segment. According to the Sinus Allergy Wellness Center of North Scottsdale, sinusitis, which manifests as swollen sinuses, can aggravate 0.5% of upper respiratory infections 11.6% of American adults are diagnosed with the disease, with a million days 73 restricted activity occurs, at a socioeconomic cost of more than $5.8 billion annually. Notably, 47% of cases improve within a week without antibiotics.
Global Sinus Dilation Devices Market Analysis by End Use
Hospitals are the dominating segment in the market. The hospitals segment accounted for the largest revenue share of around 55% in 2023 and is expected to witness the highest growth during the forecast period owing to the high number of surgeries performed in hospitals. Advanced technology and systems as well as the availability of medical equipment and the ability to perform complex sinus surgeries are projected to fuel segment growth. According to the NCBI, about 310 million major surgeries are performed worldwide each year, about 40 to 50 million in the US. and 20 million in Europe 1-4% may die of these patients, 15% may have severe complications after surgery. Patients are estimated to be readmitted to hospital within 30 days. This means that major surgery is comparable to other major causes of death such as heart disease, stroke, cancer and injury.
The ambulatory surgical centers (ASC) segment is expected to be the fastest growing region in the sinus dilation devices market with a CAGR of 11.1% during the forecast period. The health system is interested in ASCs as a way to deliver surgical care. Less invasive procedures with BSD can be readily performed in an ASC. Furthermore, cost-effectiveness with better coverage compared to hospitals is expected to boost the growth of the segment. According to the Organization for Economic Co-operation and Development (OECD), more than 90% of cataract surgeries are performed in most OECD countries. In simple terms, most cataract surgeries worldwide are done as day cases, but some countries have lower rates, possibly due to different healthcare systems and policies.
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North America dominates the sinus dilation devices market in terms of revenue, with a share of more than 45% in 2023. Highly regulated and streamlined healthcare can be attributed to this dominance and improved product because the presence of major market players boosts market growth. According to the Commonwealth Fund, the health care system in the U.S. is a combination of public and private companies. The federal government funds programs like Medicare for older adults with disabilities, as well as programs for veterans and low-income individuals like Medicaid and Children's Health Insurance Program States also administer several local payment and protection programs. Many people have private employer-provided health insurance, which is the most common form of coverage. The number of uninsured people has dropped over the years thanks to the Affordable Care Act. Public and private insurers decide what services are covered and how much individuals pay after a set of rules set by the federal and state governments.
Asia Pacific is expected to be the fastest growing segment with a CAGR of 10.4% during the forecast period owing to factors such as rising disposable income and improved patient awareness of sinus surgery. According to the OECD report Emerging Asia which includes ASEAN-10. Some countries like, India, have shown strength even in difficult times, such as the COVID-19 pandemic and the global economic slowdown. They have managed to stay strong because of their smart money policies, doing well in selling goods to other countries and having strong demand within their own nations. It is predicted that their economy will grow by about 5.3% in 2023 and 5.4% in 2024. For ASEAN countries, which are part of Emerging Asia, their economy is expected to grow by about 4.6% in 2023 and 4.8% in 2024, showing that they can bounce back despite challenges.
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Global Sinus Dilation Devices Market Drivers
Increasing Incidence of Sinusitis
Technological Advances in Medical Devices
Restraints
High Cost of Treatments
Limited Knowledge of Emerging Markets
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The sinus dilation devices market is a competitive one, with various key players applying strategies, innovations, and advanced technologies to maintain their market position. A leading global medical technology company, Medtronic offers a variety of sinus dilation devices, including balloon sinus dilation systems. Medtronic partnered with the American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS) to provide educational materials and training for ENT surgeons. This collaboration facilitates the development of validated Medtronic sinus dilation technology great and promotes best practices in sinus surgery.
Top Player’s Company Profiles in Global Sinus Dilation Devices Market
Global Sinus Dilation Devices Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, sinus dilation devices market is poised for growth, with rising incidence of sinusitis, advances in medical technology promoting minimally invasive procedures but challenges such as rising cost of treatment and lack of awareness in markets developing market can hamper market expansion. Notable trends include a shift towards less complex processes and increased investment in R&D, which is expected to contribute to the innovation. As awareness and acceptance of these technologies' increases, the market is set to grow significantly in the coming years. There is a growing trend in the healthcare industry toward minimally invasive treatments. Patients and physicians are looking for treatments that will result in faster recovery, fewer scars, and reduced risk of complications Sinus dilation devices fit this trend, with their approach work with less intervention and better results. The shift towards less invasive procedures is expected to drive the demand for sinus dilation devices in the coming years.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.70 billion |
Market size value in 2031 | USD 4.76 billion |
Growth Rate | 6.50% |
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 Sinus Dilation 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 Sinus Dilation 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 Sinus Dilation Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sinus Dilation Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
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: SQMIG35A2791
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