ENT Devices Market Survey | Demand for Cosmetic ENT Procedures is Observing Considerable Popularity
The ENT devices market is estimated to observe considerable growth during the forecast period of 2020-2030. The rising incidences of ENT-related diseases coupled with a rise in the geriatric population will set the stage for the growth of the ENT devices market.
As per the findings by the World health Organization (WHO), nearly 466 mn people have hearing loss problems across the globe. Ear infections are the leading cause of these problems. These statistics shed light on the heightening need for treating such problems. This patient pool will serve as a vital growth-generating factor for the ENT devices market. Furthermore, the advancements in the technology have led to an increase in the number of new devices. Thus, this factor bodes well for the growth of the ENT devices market.
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The demand for cosmetic ENT procedures is observing considerable popularity. Cosmetic procedures such as otoplasty and rhinoplasty have gained substantial traction over the years among a large chunk of the global populace. The rising disposable income of many individuals and the growing demand for such procedures to enhance their appearances will bring immense growth prospects for the ENT devices market.
Hearing aids, hearing implants, image-guided surgery systems, surgical devices, and diagnostic devices are some product types under the ENT devices market. On the basis of surgical devices type, the ENT devices market can be segmented into balloon sinus dilation devices, powered surgical instruments, voice prosthesis devices, handheld instruments, ear tubes, radiofrequency (RF) handpieces, powered surgical instruments, and ENT supplies.
The cases of chronic sinusitis are growing at a steady rate around the world. The prevalence of chronic sinusitis in different regions around the world can serve as a growth accelerator for the ENT devices market. Endoscopic sinus surgeries and balloon sinus dilation are some of the treatment types that use ENT devices. Thus, these factors will have a profound impact on the growth trajectory of the ENT devices market during the forecast period.
ENT Devices Market: Competitive Insights
The ENT devices market has numerous players in the fray for obtaining a large consumer base. The players are involved in various activities to increase their revenues. Research and development activities are crucial for bringing value to the growth structure of the ENT devices market. These activities help players derive new formulations and insights. These discoveries further assist in developing devices that are more beneficial and convenient for the consumers. Hence, these activities eventually influence the overall growth of the ENT devices market.
Mergers, acquisitions, joint ventures, and partnerships are also significant for the ENT devices market. The players are involved in these activities for strengthening their influence across the ENT devices market, ultimately contributing to the growth.
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Some key players in the ENT devices market are:
- Richard Wolf Gmbh
- Pentax Medical
- Starkey Hearing Technologies
- Olympus Corporation
- Demant A/S
ENT Devices Market: Recent Developments
The ENT devices market is abuzz with numerous developments. New launches, strategic collaborations, and production expansions are some of the prominent developments that attract substantial growth for the ENT devices market. Here are some recent developments that may have a positive impact on the growth cycle of the ENT devices market.
- Earlens Corporation, a medical tech company recently launched a hearing aid having the size of a dime. The hearing aid device by Earlens is the world’s first and only FDA cleared non-surgical lens which vibrates the eardrum without a speaker, leading to an increase in the quality of hearing.
- Intersenct ENT launched the VenSure balloon sinus dilation system to treat chronic rhinosinusitis symptoms.
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ENT Devices Market: Regional Dimensions
North America’s ENT devices market is expected to observe considerable growth opportunities during the forecast period of 2020-2030. A rise in ENT-related disorders at a rapid pace and the presence of a good healthcare infrastructure in the regions will bring extensive growth for the ENT devices market in North America. Europe is also estimated to witness steady growth during the forecast period for the ENT devices market.
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