Global ENT Devices Market to reach USD 23.8 billion by 2027.Global ENT Devices Market is valued approximately at USD 15.2 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2021-2027.
The U.S. current-account deficit increased and reached US$ 234.8 billion in Q4 2021. However, the Canadian Dollar exchange (CAD) increased by 29.9% in Q1 22 to reach US$ 294.4 billion, widening the imbalance by US$ 68.6 billion. In the first quarter of 2022, exports of goods and services rose by US$ 27.7 billion, totaling US$ 1.07 trillion. However, the nation’s goods and services deficit decreased to US$ 79.9 billion in June from US$ 87.9 billion in May, which was corrected, a US$ 5.7 billion decrease that indicated some relief. On the other hand, the annual inflation rate in the country hit 8.7%.
ENT devices are specialized medical devices that are used in the operations, treatment, and diagnosis of illnesses and disorders of the ear, nose, and throat. Ear infections, sinus infections, apnea, and tonsillitis are examples of ENT diseases in humans. Voice prosthesis, hearing aids, endoscopes, tongue depressors, tonsils forceps, and other devices are included in this category.
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In hospitals and ENT clinics, these devices are commonly used to perform medical and surgical procedures. The rising prevalence of ear, nose, and throat disorders, as well as the rising usage of minimally invasive ENT procedures and technological developments, are driving the growth of the ENT devices market. For instance, according to World Health Organization, around 5% of the world’s population had disabling hearing loss by 2020. Furthermore, it is anticipated that by 2050, approximately 900 million people, or one in every 10, will suffer from disabling hearing loss. Continueing with same source, hearing loss has increased in the United States from 11.5 million in 2008 to nearly 15 million in 2018. As a result of rising prevalence of hearing disorders and hearing loss problems among the population, a large number of hearing devices have been sold on the market. However, high cost & lack of reimbursement policies for ENT devices, may impede market growth over the forecast period of 2021-2027.
North America leads the ENT devices market because of high levels of knowledge among practitioners and patients, a well-established healthcare infrastructure, and favorable government initiatives, to mention a few aspects. Due to well-established healthcare infrastructure and high patient awareness levels, Europe is the second largest region and has a high product penetration for hearing aids. However, APAC is the fastest growing region due to the rising disposable income and presence of a wide base of target population.
Major market player included in this report are: William Demant holding a/s Karl Storz Gmbh & co. KG Hoya Corporation Olympus Corporation Narang Medical Limited GN Store Nord Acclarent, inc. Stryker Corporation WS Audiology A/S Medtronic plc
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product: Diagnostic Devices Surgical Devices Hearing Aids Hearing Implants Co2 Lasers Image-Guided Surgery Systems By Diagnostic Device type: Endoscopes Hearing Screening Devices By Surgical Device type: Powered Surgical Instruments Radiofrequency (RF) Handpieces Handheld Instruments Balloon Sinus Dilation Devices ENT Supplies By End user: Home Use Hospitals and Ambulatory Settings ENT Clinics By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
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Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
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