ENT Devices Market: Global Industry Analysis and Forecast (2022-2029)

ENT Devices Market was valued at US$ 15.8 Bn. in 2021. Global ENT Devices Market size is expected to grow at a CAGR of 6.9 % through the forecast period.
ENT Devices Market Overview:
Some of the most vital components of the human body are the ear, nose, and throat. Maintaining adequate operation for these components is essential. The regular operation of these organs is impacted by a variety of circumstances, including sinusitis and aging. Among the most significant areas of medicine is ENT, which focuses on the diagnosis & treatment of a variety of ear, nose, and throat conditions.To know about the Research Methodology :- Request Free Sample Report

For the detection and treatment of disorders linked to these organs, a variety of ENT equipment is also available. Diagnostic, surgical, and therapeutic ENT devices are the most popular ones. These ENT devices are used to diagnose and treat disorders that affect speech, hearing, and smell. Some ENT devices come with imaging technology, which enhances the visualization of anatomical features and lowers the possibility of related injuries.

2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2021 is a year of exception and analysis especially with the impact of lockdown by region.
ENT Devices Market Dynamics:
Market Drivers:

Favourable scenario for ENT surgeries being reimbursed in developed nations: Most ENT surgical treatments, including balloon sinus dilatation, endoscopic sinus surgeries, computer-assisted surgical guidance, tongue and hyoid suspensions for the management of obstructive sleep apnea (OSA), as well as inferior turbinoplasty procedures, are covered by insurance in industrialized nations. The only ENT operations that are completely unreimbursed are those that are performed primarily to treat snoring, which is seen as a cosmetic issue. These include the pillar technique, radiofrequency ablation, injectable snoreplasty, cosmetic rhinoplasty, and otoplasty.

Around 230 million Americans, or 80% of those with insurance coverage, might receive third-party payer health insurance for freestanding balloon sinus dilation operations as of December 2017. In the US, several third-party payers, including Medicare, United Healthcare, Cigna, Kaiser Permanente, Health Net, TRICARE, Medicaid, and Blue Cross Blue Shield, cover the solitary balloon sinus dilation operation carried out in the doctor's office. Also, tonsillectomies and other operations for the throat are covered for between USD 180 and USD 300. For example, the state of Virginia pays USD 200 as payment for tonsillectomy surgery.

Market Opportunities:

Increasing healthcare market in developing countries: For market participants in ENT devices, emerging markets like China and India give enormous development prospects. MMR estimates that by 2030, there will be 4.9 billion middle-class people around the world, up from 1.8 billion in 2009. By 2030, 64% of the world's middle-class people are expected to live in Asia. People in developing nations like China and India are now able to buy ENT gadgets with cutting-edge technology, which is boosting the market's growth.

Several opportunities for the rise of this market exist in emerging nations due to factors including less stringent regulatory standards, growing urbanization, better healthcare facilities, increased disposable income, and an aging older population. Several market players are concentrating on increasing their market presence in emerging countries to take advantage of the opportunities in this market.

For example, Intersect ENT received CE Mark clearance for PROPEL Contour in May 2021 for patients who had frontal sinus surgery and developed chronic rhinosinusitis. If these items are approved, market participants will be able to increase their product offers in developing areas. Emerging economies in the forecast period create new income pockets for market competitors due to the above-mentioned causes.

Market Challenge:

Price pressure on market participants is getting higher: Reducing healthcare costs has become one of the main priorities for healthcare systems during the past ten years. This is accomplished through the implementation of price controls, competitive rates, bidding, tender mechanisms, insurance and payments policies, the relative efficacy of medicines, technology evaluations, and managed-care agreements.

Healthcare providers have associated with group purchasing organizations and integrated medical networks that bargain for the large purchase of medical equipment in response to increasing demand to lower healthcare costs. The tendency toward bulk-purchasing puts further pressure on prices and reduces companies' profit margins, especially for small- and medium-sized producers that have a constricted selection of ENT devices.

The burden on medical equipment businesses has increased as a result of payment reforms including value-based buying, the preferred site of services payments, and future payment schemes for hospital treatment. Hospital networks, major group purchasing organizations, and other organizations are also continuing to look for methods to pool their purchasing power when hospitals combine.

Introduction of medical device taxes and duties: The profitability of manufacturers of airway management equipment is also expected to be impacted by the installation of taxes and tariffs on medical devices. This involves the imposition of a 2.3 percent excise charge in the US in March 2010 on domestic sales of chargeable medical equipment. Similar to this, the Indian government implemented a 5% taxation on imported medical gadgets in its 2021 budget. The Medical Technological Association of India claims that the taxation will make imported goods more expensive and make the country's healthcare less accessible.

ENT Devices Market COVID-19 Insights:

The COVID-19 outbreak has caused delays in clinical processes. To some extent, this may harm market growth. Leading ENT device manufacturers like Cochlear Limited and Smith & Nephew have reported delays in clinical trials.

While the ENT device market was negatively impacted by COVID-19 last year, a total of 27.4 million surgeries were delayed or abandoned during the 12-week COVID-19 upsurge. 2.4 million of these instances involved the diagnosis or treatment of cancer. Cases with benign diseases, orthopedic conditions, or ENT issues were the ones that were mostly delayed or postponed.

As a consequence of Medtronic Plc's COVID-19 Specialty Therapies division, net sales for the financial year 2021 were USD 1.3 billion, which represented a 9% decline from 2021. Due to COVID-19, surgeries in the ENT and pelvic health sectors were postponed, which resulted in a drop in net sales. Before the pandemic, the operative NIM nerve monitoring system, powered ENT tools, and machinery and equipment revenues of the ENT surgery navigation system boosted the fiscal year 2020 revenues.
ENT Devices Market Segment Analysis:
Based on Product Type, the Diagnostics ENT devices segment dominated the market with 31% share in 2021. Flexible endoscopes, robot-assisted endoscopes, hearing screening devices, and rigid endoscopes are further categorized under the diagnostic ENT devices segment. The availability of technologically sophisticated endoscopes has raised the need for diagnostic ear, nose, and throat (ENT) equipment. Compared to more conventional diagnostic tools, these endoscopes are more flexible and efficient. Consequently, doctors' demands for affordable, precise, and effective diagnoses have risen.

Based on the End-user, the hospitals segment dominated the market with 39% share in 2021.The primary treatment institutions in the international healthcare system are hospitals. Hospitals are essential to the delivery of care in the ENT field. In emerging nations, hospitals are sometimes the only places to get ENT surgery done. The market is being driven by factors such as increased disposable income, falling ENT treatment costs, improved healthcare expenditure and infrastructure, and increasing understanding and awareness of ENT operations globally.

The second-largest market end-users of ENT equipment are ENT clinics. This is because clinics frequently serve as the diagnosis and treatment centers for ENT illnesses. ENT clinics are frequently equipped with hearing diagnostic tools in emerging economies.
ENT devises Market Regional Insights:
The North America region dominated the market with 37 % share in 2021. High implementation of cutting-edge technology is probably what will drive the market growth in this region. Also, developed nations are far more aware of the impact of ENT disorders and the accessibility of treatments and equipment to mitigate these effects. Ménière's disease is identified in between 500,000 and 65,000 new cases each year in the United States. It is an inner ear condition that causes vertigo and hearing loss. The market statistics will also be influenced by advantageous trade policies, regulations relating to ENT devices, and a strong presence of major market participants in the region.

The Asia Pacific region is expected to witness significant growth at a CAGR of 7.3% through the forecast period. This is because of early-stage diagnosis of ENT-related diseases, increasing healthcare spending, and rising market members' investment. Europe acquired the second position in this market. Due to the region's developed healthcare system, strong patient awareness levels, and high hearing aid product penetration.

The objective of the report is to present a comprehensive analysis of the global ENT Devices Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the ENT Devices Market dynamic, structure by analyzing the market segments and projecting the ENT Devices Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the ENT Devices Market make the report investor’s guide.
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Global ENT Devices Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 15.8 Bn.


Forecast Period 2022 to 2029 CAGR:
6.9%
Market Size in 2029:
US$ 26.94Bn.


 Segments Covered:
by Product Type
• Diagnostic Devices
• Surgical Devices
• Hearing Aids
• Visualization Devices


by End-users
• Hospitals
• ENT Clinics
• Ambulatory Centers



ENT Devices Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
ENT Devices Market Key Players are:
• Karl Storz Gmbh & co. KG (Germany)
• Medtronic plc (Ireland)
• Stryker Corporation (US)
• Smith & Nephew plc (UK)
• Olympus Corporation (Japan)
• Acclarent, inc. (US)
• Cochlear Limited (Australia)
• Hoya Corporation (Japan)
• GN Store Nord (Denmark)
• Welch Allyn (Denmark)
• WS Audiology A/S (Denmark)
• Sonova Holding AG (Switzerland)

Frequently Asked Questions:

1] What segments are covered in the Global ENT Devices Market report?
Ans. The segments covered in the ENT Devices Market report are based on Product Type and End User.

2] Which region is expected to hold the highest share in the Global ENT Devices Market?
Ans. The North America region is expected to hold the highest share in the ENT Devices Market.

3] What is the market size of the Global ENT Devices Market by 2029?
Ans. The market size of the ENT Devices Market by 2029 is expected to reach US$ 26.94 Bn.

4] What is the forecast period for the Global ENT Devices Market?
Ans. The forecast period for the ENT Devices Market is 2022-2029.

5] What was the market size of the Global ENT Devices Market in 2021?
Ans. The market size of the ENT Devices Market in 2021 was valued at US$ 15.8 Bn.