Surgical ENT Device Market to be Worth $11.2 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, May 12, 2022 /PRNewswire/ -- The global surgical ENT devices market size is expected to reach USD 11.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.67% from 2022 to 2030. The high prevalence of hearing loss, increasing uptake of surgeries for the treatment of ENT disorders, and the availability of advanced surgical devices are certain factors positively impacting the market growth.
Key Insights & Findings from the report:
- In terms of product, the radiofrequency handpieces segment held the largest revenue share in 2021. The sinus balloon dilation devices segment is expected to witness the fastest growth over the forecast period due to the increasing demand for devices.
- North America held the largest share in terms of revenue in 2021. The Asia Pacific region is expected to witness the fastest growth during the forecast period. The growth can be attributed to factors such as a large patient population and developments in healthcare infrastructure, leading to the high demand for ENT surgeries and associated devices.
- The European market is likely to witness high growth in the years to come due to the growing geriatric population, increasing prevalence of ENT-related diseases, and technological advancements. This region has a significant demand for Cochlear Implant (CI) procedures. Germany is expected to witness the fastest growth over the forecast period.
- The market is consolidated with a few large and multiple medium and small players. The majority of manufacturers have suffered a negative impact from the COVID-19 pandemic, including reduced demand for devices. However, players are witnessing recovery amid relaxations in COVID-19 restrictions.
Read 120 page market research report, "Surgical ENT Devices Market Size, Share & Trends Analysis Report By Product (Radiofrequency Handpieces, Sinus Balloon Dilation Devices), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Surgical ENT Device Market Growth & Trends
Traditionally existing surgical procedures are slowly being replaced by minimally invasive surgeries in most advanced countries, such as the U.S., the U.K., and Japan. Surgical ENT devices for minimally invasive procedures are dominated by companies such as Karl Storz, which offer HD video rhino-laryngoscope that can be used for visualization of the nose, pharynx, and larynx in HD image quality.
The COVID-19 pandemic has significantly impacted the global economy. It adversely affected operational goals and long-term projections of businesses. The COVID-19 pandemic has increased the pressure on healthcare providers and caused the cancelation or postponement of various examinations and procedures. The number of elective procedures has decreased, which has also affected the sales of ENT medical devices.
In the worst-hit months of 2020, mass closure of ENT clinics and termination of elective surgical procedures in hospitals drove down sales of ENT medical devices. For instance, Olympus Corporation's revenue decreased by 21.7% in the first quarter of 2020 due to a decrease in revenue from all businesses with factors such as restrictions on sales promotion activities. Surgeries across most emerging markets, including Latin America and India, remained very low during the pandemic.
Surgical ENT Device Market Segmentation
Grand View Research has segmented the global surgical ENT devices market based on product and region:
Surgical ENT Device Market - Product Outlook (Revenue, USD Million, 2017 - 2030)
- Radiofrequency Handpieces
- Sinus Stents
- Powered Surgical Instruments
- Rigid Endoscopes
- Otological Endoscopes
- Sinus Balloon Dilation Devices
- Otological Drill Burrs
- ENT Hand Instruments
- Tympanostomy Tubes
- Nasal Packing Devices
Surgical ENT Device Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- South Africa
List of Key Players of Surgical ENT Device Market
- Medtronic plc
- Olympus Corporation
- Richard Wolf GmbH
- ZEISS Group
- Smith & Nephew
- Johnson & Johnson
- Integra LifeSciences
- HOYA Corporation
Check out more related studies published by Grand View Research:
- ENT Devices Market - The global ENT devices market size is expected to reach USD 29.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2021 to 2028. The market growth can be attributed to factors such as a growing geriatric population, high prevalence of hearing loss, and increasing penetration of minimally invasive surgeries are factors likely to boost the market during the forecast period. Furthermore, technological advancements in this field, an increase in healthcare investment for early detection of diseases, and favorable regulatory policies are other factors expected to drive the market.
- Powered Surgical Instruments Market - The global powered surgical instruments market size is expected to reach USD 2.8 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.8%. Increasing number of surgical procedures, coupled with technological advancements, is anticipated to drive the market. Moreover, increasing awareness and affordability of plastic or reconstructive surgeries and surgeries for sports injuries is likely propel growth over the forecast period.
- Disposable Surgical Devices Market - The global disposable surgical devices market size is expected to reach USD 9.3 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.8% from 2021 to 2028. The growing prevalence of chronic diseases, such as cardiovascular, neurological, urological, and infectious disorders, is expected to drive the overall market. Chronic diseases are a global healthcare concern, with over half of the adult population in the U.S. suffering from them, resulting in over 75% of the total healthcare expenditure. Thus, a rise in infectious and chronic diseases is expected to create a significant demand for disposable surgical devices.
Browse through Grand View Research's Medical Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Grand View Compass | Grand View Pipeline
Follow Us: LinkedIn | Twitter
Upcoming Life Sciences Events
- July 2022
- Piscataway: Bio-Manufacturing Innovation Summit
- BIO Asia-Taiwan
- August 2022
- Biotechgate Digital Partnering August 2022