ENT Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The ENT Devices Market is projected to register a CAGR of 6.4% during the forecast period, 2022-2027.

The Pandemic has had ramifications for ways of working, of various ear, nose, throat (ENT) surgical and diagnostics procedures including minimally invasive procedures. According to the study titled "ENT Symptomology in Active COVID-19 Patients in our Tertiary Care Centre" published in August 2021, Anosmia and dysgeusia are significantly linked to COVID-19 disease, the nasal cavity has a higher viral concentration than the throat. Additionally, paucisymptomatic and asymptomatic COVID-19-positive patients have reported anosmia and dysgeusia. Thus, the rise in ENT infection in COVID-19 patient drive the demand for ENT devices. Moreover, due to the lockdown, a delay in diagnosis and treatments are being observed in patients with ENT diseases because of a reduction in hospital visits, and also many hospitals are trying to conserve the resources in treating COVID-19 patients who are declining the diagnosis of ENT diseases. THowever, with the ongoing vaccinations and decreasing COVID-19 cases, the ENT devices market is expected to regain its full potential over the forecast period.

The major factors for the growth of the ENT devices market include the increasing prevalence of ear, nose, and throat-related disorders, rising adoption of minimally invasive ENT procedures, and technological advancements. Sinusitis is one of the medical conditions wherein the cavities around the nasal passages (sinuses) are inflamed or swollen for more than twelve weeks. According to the study titled " Odontogenic Sinusitis: From Diagnosis to Treatment Possibilities—A Narrative Review of Recent Data" published in the MDPI Diagnosis, In Jun 2022, in the United States, sinusitis costs about USD 6 billion annually, plus USD 2 billion for over-the-counter remedies, with a prevalence rate of 10.4% in Europe and 14.0% in the United States. Also, more than 0.5 million surgeries for the treatment of chronic sinusitis are performed in the United States every year.

Also, according to the Action on Hearing Loss Information in April 2022, one out of every six people or over 10 million people in the United Kingdom suffer from hearing loss. Out of these, 6.4 million people belonged to the age group of 65 and above and 800,000 people suffered from severe or profound deafness. As the prevalence of hearing loss increased in the country the demand for the ENT devices is expected to increase over the forecast period, thereby boosting the market growth. Furthermore, according to the data published by the American Cancer Society April 2021, about 2,000 people in the United States develop cancers of the nasal cavity and paranasal sinuses each year. These cases are most common in the geriatric population. Thus, owing to the rising prevalence and new cases of ear, nose, and throat related disorders, the ENT devices market is expected to witness a high growth over the forecast period. However, high procedures and treatment cost and social stigma restrain the market growth over the forecast period.

Scope of the Report

As per the scope of the report, ENT devices refer to special equipment used for detection, therapy, or surgery of any disorders related to the ear, nose, or throat. They also refer to synthetic materials and prosthetic devices used to restore any dysfunction of an ear, nose, or throat, and aid in correcting any problems with hearing, smelling or speaking. The ENT Devices Market is segmented by Product (Diagnostic Devices, Surgical Devices, Hearing Aids, Image-guided Surgery Systems, and Other Products), End User (Hospitals, ENT Clinics, and Other End User) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

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Key Market Trends

Hearing Aids Segment is Expected to Account for Fastest Growth Rate during the Forecast Period

A hearing aid is a small electronic device that you wear in or behind your ear. It makes some sounds louder so that a person with hearing loss can listen, communicate, and participate more fully in daily activities. A hearing aid can help people hear more in both quiet and noisy situations. Hearing aids are primarily useful in improving the hearing and speech comprehension of people who have hearing loss that results from damage to the small sensory cells in the inner ear.

Moreover, the demand for these devices is increasing due to the increasing population with hearing loss. As per an April 2021 report by the World Health Organization, At least 700 million people will need hearing rehabilitation by 2050, when it is predicted that nearly 2.5 billion people will have some degree of hearing loss. Due to unsafe listening habits, over 1 billion young adults are at risk of developing permanent, preventable hearing loss. Moreover, with the increasing technological advancements, hearing aids are expected to witness high demand. Widex was awarded at the CES 2019 Best of Innovation Awards ceremony for WIDEX EVOKETM, which features WIDEX ENERGY CELL technology in the fitness, sports, and biotech product categories. It is a battery-free hearing aid. This will increase the demand for hearing aids, which will boost the market growth.

However, growing product launches by the key market players are anticipated to boost the market growth. For instance, in February 2022, Oticon, Inc. expanded its hearing aid portfolio to allow even more individuals with hearing loss to experience the benefits of Oticon’s advanced BrainHearing technology. The additions include two new Oticon More miniBTE styles that meet the needs of users who prefer small, discreet, behind-the-ear (BTE) options, as well as two new hearing aid families. Similarly, in October 2021, morning health tech company Audibel reported launching its new artificial intelligence hearing aids called the Arc AI. Thus, all aforementioned factors are expected to boost the segment growth over the forest period.

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