ENT 2020 Market Analysis
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With an increase in the prevalence of ear, nose and throat disorders in geriatric people the demand for ENT devices expected to drive the ENT devices industry rapidly over the upcoming years. Expanding levels of healthcare awareness among patients and surgical professionals expected to increase the growth of the Otolaryngology market over the forecast period.
Presence of sophisticated healthcare infrastructure in the communities, favorable government initiatives led to growth and demand for ENT devices across the underdeveloped countries due to the extensive research and development targeted at developing technologically advanced products.
Otorhinolaryngology is the branch of medicine deals with the diagnosis, treatment and other problems related to ears, nose, and throat, as well as the head and neck, mouth, sinuses, and larynx. Increasing the use of some of the electric systems is partially caused by the growing attractiveness of access control systems which take less time for diagnosis, treatment, and fewer can be damaged during the time of surgery with minute pain. Increasing age leads to an increased risk for otorhinolaryngology disorders. This results in the use of advanced laser and radiofrequency technology during surgical and diagnostic procedures and is expected to drive ENT devices market size rapidly in the coming forecast periods.
Ear, nose, and throat (ENT) devices are special equipment used for detection, treatment or surgical procedure of any condition related to the ear, nose or throat. They also refer to artificial materials and prosthetic devices used to restore any dysfunction of the ears, nose, and throat or any problems with hearing, smelling or speaking.
Minimally invasive surgical techniques involve the use of advanced and thin ENT devices in nasal, ear, and throat. The popularity of these types of surgeries is increasing because they are associated with minimal tissue damage, a quicker recovery, less irritation, and less scarring. ENT instruments available in the market are endoscopes, hearing aids and implants, handheld surgical devices, balloon dilation devices for sinus, CO2 lasers, image-guided surgery systems, ear tubes, and voice prosthesis devices.
Global ENT devices market was valued at €12.37 billion in 2015 and is expected to reach €21.36 billion by 2022, growing at a CAGR of 8.1% during the forecast period.
The growing population under the geriatric sector will definitely stimulate the ENT devices market scope. According to WHO statistics, geriatric people are set to grow to over 16% by 2050. Since aging is considered as an important factor inducing deafness and other hearing disorders, this incident will raise industry demand in the coming years. Radiofrequency handpiece instruments were pegged at $ 0.8957 billion in 2015. While the hearing implants were driven by cochlear implants in 2015. Hearing implants market is expected to grow at a comparatively higher CAGR of 7.2%. This high trend can be attributed to the growing geriatric population, and also may increase in occupational hearing losses.
The ENT devices market remarks extensive growth in the Americas due to the increase in need to reduce hospital stays and rising government measures to lessening hospital expenditures. This will drive the demand for ENT instruments in the region from 2018 to 2022.
ENT device making companies are working continuous invention in design and technology to make these newly launched devices more non-invasive. They are constantly investing funds and resources into R&D departments to increase the scope of their devices. ENT surgical research developed Propel Mometasone Furoate Implant (PMFI) for the treatment of chronic sinusitis. Which is a bio-absorbable steroid placed directly into the sinus mucosa. It controls the release of drugs and dissolves over time.
ENT devises Market Analysis is a complete study of present market trends of ENT Devices and industry growth and market demand. These analyzed at the regional level to provide a complete market report for the years 2017, 2018, 2019 and the coming years up to 2022. Each market is broadly analyzed at a granular level by geography for Ex: North America, Europe, Asia and the Rest of the World to produce in-depth on global development.
North America has occupied the largest region in the ENT devices market in 2015 and expected to reach 40% over in 2020. UK, France and Germany ENT devices market are high, and it dominates the market of ENT devices in other countries. Europe also has a high degree of product dispersion mostly, in sections such as hearing aids and the presence of patient awareness and sophisticated healthcare management. Favorable government ideas have led to the development in demand for hearing aids instruments across Asia Pacific, which is to record a 6.5% CAGR through to 2023. Asia Pacific market is expected to have a CAGR of 6.5% during the forecast period due to the presence of target disease people. An increase in distributers in the ENT area can increase the concern among the people for ENT disorders.
Increasing age leads to a decline in immunity levels in the geriatric population who are suffering from ENT problems. This market research analysis recognizes the growing preference for minimally invasive methods as this is one of the major factors for this market.