|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
|Image-guided Surgery Systems|
|By End User|
|Other End Users|
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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North America Accounted for the Largest Share in the Global Market
North America is expected to hold a major share of the ENT devices market and is expected to show a similar trend over the forecast period, without significant fluctuations. Most of the market players are based in North America and there is awareness about the advantages of using ENT device solutions with the high burden of the END disorders in the region which are expected to be major driving factors for the studied market in the region. For instance, according to March 2021 report of the National Institute of Deafness and Other Communication Disorders of the United States1, as per common hearing tests, one in eight Americans (13 percent, or 30 million) who are 12 years of age or older have hearing loss in both ears. The prevalence of hearing loss in adults between the ages of 45 and 54 is around 2%. For adults aged 55 to 64, the rate rises to 8.5%. Moreover, with the increasing aging population, there has been a rising prevalence of hearing loss and laryngeal cancer, and other ENT disorders.
As per the American Cancer Society 2022 report, about 12,470 new cases of laryngeal cancer are expected to be recorded in the United States in 2022. Thus, the high burden of ENT disorders coupled with favorable reimbursement policies, and better healthcare infrastructure is the reasons for the high market share of North America. Further, increasing product launches by the key market players boost the market growth. For Instance, in January 2021, Oticon, Inc. launched Oticon More, one of the first hearing aid built with an onboard deep neural network (DNN), indicated for people with mild-to-severe hearing loss. Similarly, in August 2020, GN Hearing launched the ReSound ONE, one of the revolutionary new hearing aid that solves one of the most enduring challenges for people with hearing loss. Thus, all aforementioned factors are expected to boost the market growth over the forest period.
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The market studied is consolidated owing to the presence of a few major players in the market. The market players are focusing on R&D to develop the technologically advanced products in order to bring innovative products in the market. The barriers for the new entrants are high in this industry and hence only a few major market players hold the maximum market share. some of the players are American Hearing Systems Inc., Atos Medical, Cochlear Ltd, InHealth Technologies, Medtronic PLC
Sivantos Group (Signia)
- In February 2022, Medtronic launched its NuVent Eustachian tube dilation balloon, which gives surgeons an outpatient option for some ear, nose, and throat conditions.
- In January 2022, Acclarent Inc., part of the Johnson & Johnson Medical Devices Companies launched its first-ever AI-powered ENT technology, designed to simplify surgical planning and provide real-time feedback during ENT navigation procedures.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Ear, Nose, and Throat Related Disorders
4.2.2 Rising Adoption of Minimally Invasive ENT Procedures
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 High Procedure and Instruments Cost
4.3.2 Social Stigma
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product
5.1.1 Diagnostic Devices
5.1.2 Surgical Devices
5.1.3 Hearing Aids
5.1.4 Image-guided Surgery Systems
5.1.5 Other Products
5.2 By End User
5.2.2 ENT Clinics
5.2.3 Other End Users
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 American Hearing Systems Inc.
6.1.2 Atos Medical
6.1.3 Cochlear Ltd
6.1.4 Fujifilm Corporation
6.1.5 InHealth Technologies
6.1.6 Medtronic PLC
6.1.7 Nurotron Biotechnology Co. Ltd
6.1.8 Olympus Corporation
6.1.9 Richard Wolf GmbH
6.1.10 Sivantos Group (Signia)
6.1.11 Starkey Laboratories Inc.
6.1.12 Stryker Corporation
6.1.13 Welch Allyn
6.1.14 Zhejiang Shendasiao Medical Instrument Co.,Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The Global ENT Devices Market market is studied from 2019 - 2027.
What is the growth rate of Global ENT Devices Market?
The Global ENT Devices Market is growing at a CAGR of 6.4% over the next 5 years.
Which region has highest growth rate in Global ENT Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global ENT Devices Market?
North America holds highest share in 2021.
Who are the key players in Global ENT Devices Market?
Cochlear Ltd, Medtronic PLC, Olympus Corporation, Stryker Corporation, Sivantos Group (Signia) are the major companies operating in Global ENT Devices Market.