The ENT Devices Market is a rapidly growing sector that is helping to revolutionize the medical industry. ENT devices are becoming increasingly popular as they provide a range of benefits to a variety of patients. From diagnosing and treating hearing loss to providing relief from sinus pain, ENT devices are quickly becoming a must-have for many medical professionals.
According to the new market research report “ENT Devices Market by product (Diagnostic (Endoscope, Hearing Screening Devices), Surgical Devices, (Powered Surgical Instruments, ENT Supplies, Ear Tubes), Hearing Aids, CO2 Lasers, & End Users (Hospital & ASCs, ENT Clinics)- Global Forecast to 2026”, the global ENT Devices market size is projected to reach USD 22.3 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 6.6%.
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The global ENT devices market is expected to grow significantly over the next few years, driven by a number of factors. For instance, the rising prevalence of hearing loss, sinus diseases and other ENT disorders has spurred the demand for ENT devices. Additionally, technological advancements have enabled the development of more sophisticated and efficient ENT devices that are better equipped to diagnose and treat a range of conditions. The increasing adoption of ENT devices in the healthcare sector has also contributed to the rising demand for these products.
The market is segmented on the basis of product type, end user, and geography. On the basis of product type, the market is segmented into hearing aids, sinus implants, ENT instruments, hearing implants and others. Hearing aids are the most popular product type, followed by sinus implants. On the basis of end user, the market is segmented into hospitals, clinics, research centers and others.
By product, the ENT Devices market is segmented into Diagnostic Devices, Surgical Devices, Hearing Aids, Hearing Implants, Co2 Lasers, Image-Guided Surgery Systems. In 2020, the Hearing Aids products segment accounted for the larger share of the ENT Devices market. The large share of this segment can be attributed to an increase in the demand for hearing aids. As an individual age, changes occur in the nerve pathways from the ear to the brain which can lead to hearing loss.
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Based on the Diagnostic Devices, the ENT Devices market is segmented into Endoscopes and Hearing Screening Devices. In 2020, the Endoscopes segment accounted for the largest share of the ENT Devices market. The large share of this segment can be attributed to research and development in endoscopes leads to the launch of efficient and different types of endoscopes for the surgeries
Based on Surgical Devices, the ENT Devices market is segmented into Powered Surgical Instruments, Radiofrequency (RF) Handpieces, Handheld Instruments, Balloon Sinus Dilation Devices, ENT Supplies, Ear Tubes, Voice Prosthesis Devices. The Balloon Sinus Dilation Devices segment accounted for the largest market share in 2020. Increasing various key players and emerging players are launching new products in the market and obtaining regulatory approvals, which is likely to fuel the growth of this market.
By end user, the ENT Devices market is segmented into Home Use, Hospitals and Ambulatory Settings, ENT Clinics. The hospitals and Ambulatory Settings segment accounted for the largest market share in 2020. The increasing rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising knowledge and awareness regarding the procedure’s success or failure is the major driving factors for this market
Geographical Growth Scenario:
The ENT Devices market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the ENT Devices market, followed by Europe. The large share of North America can primarily be attributed to the increasing favorable reimbursement scenario for ENT procedures and the strong presence of major market players in this region.
Key Market Players:
The major players in the ENT Devices market are Karl Storz Gmbh & co. KG (Germany), Medtronic plc (Ireland), Stryker Corporation (US), Olympus Corporation (Japan), Cochlear Limited (Australia), Sonova Holding AG (Switzerland), William Demant holding a/s (Denmark), etc.
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