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The market is segmented by Product (Diagnostic Devices, Surgical Devices, Hearing Aids, Image-guided Surgery Systems, and Other Products), End User, and Geography.
Fastest Growing Market:
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.
According to the estimates of the Center for Disease Control and Prevention (CDC), almost 16% of the adults in the United States (18 years and older) suffered from hearing loss during 2014-2016. As per the survey, hearing loss was lowest in New Jersey, Connecticut, Maryland, California, New York, and the District of Columbia, while the prevalence of hearing loss was highest in West Virginia, Oregon, Montana, Idaho, and Wyoming.
Furthermore, according to the data published by the American Cancer Society, 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. In 2014, in the United States, an estimated 99,756 people were living with laryngeal cancer, and the number of new cases of laryngeal cancer was 3.0 per 100,000 men and women per year. Thus, owing to the rising prevalence and new cases of ear, nose, and throat related disorders, the US ENT devices market is expected to witness a high CAGR over the forecast period.
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 market is segmented by product, end user, and geography.
|Image-guided Surgery Systems|
|By End User|
|Other End Users|
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As per the estimates of the Center for Hearing and Communication, 48 million Americans suffer significant hearing loss and one out of three people over the age of 65 have some degree of hearing loss. Hearing loss can occur at birth or can develop at any age. There are different types of hearing aids available in the market, and some of them include Behind the Ear (BTE), Receiver in the Ear (RITE), In the Ear (ITE), Canal Hearing Aids (CHA), and other hearing aid devices. Furthermore, in the United States, the Individuals with Disabilities Education Act (IDEA) ensures that students with hearing loss receive proper education and accommodations, if necessary. Similarly, one of the organizations, the Hearing Loss Association of America (HLAA), offers training courses and online learning, holds monthly webinars, and advocates for the rights of people with hearing loss. Thus, the rising prevalence of hearing loss and increasing awareness among people is driving the segment and is set to witness a high CAGR over the forecast period.
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North America is found to hold a major share for 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 devices solutions. According to the estimates of the Hearing Health Foundation, there are 600,000-750,000 cases of Ménière’s disease in the United States, with 45,000 to 60,000 new cases diagnosed annually. Favorable reimbursement policies, better healthcare infrastructure, high cases of chronic sinusitis, and other ENT disorders are the reasons for the high market share of the United States.
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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.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 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
5.1 By Product
5.1.1 Diagnostic Devices
184.108.40.206.1 Rigid Endoscopes
220.127.116.11.2 Flexible Endoscopes
18.104.22.168.2.3 Other Flexible Endoscopes
5.1.2 Surgical Devices
22.214.171.124 Powered Surgical Instruments
126.96.36.199 Radiofrequency (RF) Handpieces
188.8.131.52 Handheld Instruments
184.108.40.206 Balloon Sinus Dilation Devices
220.127.116.11 Other 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
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East & Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 American Hearing Systems Inc.
6.1.2 Atos Medical
6.1.3 Cochlear Ltd
6.1.4 InHealth Technologies
6.1.5 Medtronic PLC
6.1.6 Olympus Corporation
6.1.7 Siemens Healthcare GmbH
6.1.8 Starkey Laboratories Inc.
6.1.9 Stryker Corporation
6.1.10 Welch Allyn
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments