The global ENT devices market is witnessing technology integration into its various product segments. Hearing aids and surgical devices are the major product segments that are utilizing technology for improving care delivery. Integration of artificial intelligence (AI) is a breakthrough in the global ENT devices market that is expected to have a strong impact on the market’s growth.
During COVID-19, the growth of the ENT devices market was negatively impacted, especially in 2020. Although the market recovered quickly in the last quarter of 2020 and the telehealth integration in ENT specialty was a positive impact of COVID-19 on the market.
The global ENT devices market report highlights that the market was valued at $13,799.5 million in 2020 and is expected to reach $25,127.7 million by the end of 2030. The market is expected to grow at a CAGR of 6.12% during the forecast period from 2021 to 2030.
Impact of COVID-19 on the Global ENT Devices Market
During COVID-19, the growth of the ENT devices market was negatively impacted, especially in 2020. Although the ENT facilities continued to operate, the sales of the companies were negatively impacted. Nonetheless, the market grew minimally in 2020 and is projected to witness considerable growth during the forecast period 2021-2030. The increasing technological innovations in the global market and growing adoption in emerging economies are the factors for the growth of the market.
Global ENT Devices Market (by Procedure)
The global ENT devices market, on the basis of procedure, has been segmented into flexible transoral and transnasal procedures, turbinate reduction and polyp removal, and tympanostomies and vent tube operations.
The flexible transoral and transnasal procedures accounted for the highest share of the market, which can be attributed to advancements in ENT devices.
Global ENT Devices Market (by End User)
The global ENT devices market, on the basis of end users, has been segmented into hospitals, ambulatory centers, ENT clinics, and others.
Hospitals are at the forefront in terms of ENT devices adoption. The increasing focus on evidence-based care has been one of the strongest drivers for the adoption of ENT.
The growing prominence for outpatient surgeries and rising establishments of ambulatory centers are the leading factors promoting the market's growth for the global ENT devices. The adoption of ENT devices in ambulatory surgical centers can be boosted by prioritizing the increasing demand for minimally invasive surgeries.
Global ENT Devices Market (by Product Type)
The global ENT devices market, on the basis of product type, has been segmented into diagnostic devices, surgical devices, hearing aids, visualization devices, surgical shavers and debriders, and others.
Hearing aids is the largest product segment in the market, and the trend is projected to continue during the forecast period 2021-2030. Furthermore, surgical devices is projected to be the fastest-growing segment owing to the growing technological advancements in the ENT specialty.
Global ENT Devices Market (by Region)
The different regions covered under the global ENT devices market include North America, Europe, Asia-Pacific, and Rest-of-the-World.
North America dominates the global ENT devices market due to the high prevalence of hearing disorders, growing geriatric population, and high reimbursement rates. The Asia-Pacific ENT devices market is one of the lucrative markets with immense potential for expansion by key players of the global ENT market. The Asia-Pacific ENT devices market is expected to grow at the fastest rate in the forecast period, and this can be attributed to the massive geriatric population base, driving the demand for minimally invasive and non-invasive surgical procedures.
ENT Market Dynamics
Market Growth Drivers
• Growing Prevalence of Hearing Disorders
• Growing Technology Integration in ENT Devices
• Growing Preference for Minimally Invasive Procedures in ENT Specialty
• High Cost of ENT Procedures
• Social Stigma Associated with Hearing Disorders
• Emergence of Regional ENT Device Manufacturers
• Synergies Between Local Healthcare Authorities and Key Medical Device Companies
Key Market Players and Competition Synopsis
Some of the key players operating in the market include Ambu A/S, Atos Medical Ab, Boston Scientific Corporation, Cochlear Limited, Demant A/S, Eckert Ziegler AG, HOYA Corporation, Johnson Johnson, KARL STORZ SE Co. KG, Medtronic plc, Olympus Corporation, Richard Wolf GmbH, Smith Nephew Plc, Sonova Holding AG, and Stryker Corporation.
Some of the strategies covered in this segment are funding activities, mergers and acquisitions (MAs), partnerships, alliances, and business expansion, regulatory and legal activities, and new offerings. The preferred strategy for companies has been launches of new products or new offerings followed by partnerships, alliances, and business expansion.
Key Questions Answered in the Global ENT Devices Market Report
• What are the key trends that have a strong influence on the global ENT devices market? How did the COVID-19 pandemic impact the growth of the ENT devices market?
• What are the key development strategies which are implemented by the key players to maintain and capture market share?
• How does the patent landscape of ENT devices look like?
• What are the major market drivers, challenges, and opportunities in the global ENT devices market?
• Which leading companies are dominating the global ENT devices market?
• What are the regulations about the global ENT devices market?
• What was the market value of the leading segments and sub-segments of the global ENT devices market?
• How is each segment of the global ENT devices market expected to grow during the forecast period, and what is the expected revenue to be generated by each of the segment by the end of 2030?
• Which region carries the potential for the significant expansion of key companies for the ENT devices market?
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How This Report Can Add Value
Assuming that the readers are the manufacturers of ENT devices market, they will be able to do the following:
• Understand their position compared to some of the key players in the market
• Stay updated with novel technology integration, features, and the latest developments in the market
• Understand the impact of COVID-19 on the adoption of ENT devices and the entry barriers because of it
• Gain insights into end-user perception with respect to the adoption of ENT
• Identify some of the key players in the market and understand their valuable contribution
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