Otorhinolaryngology Devices Market: Diagnostic Devices Segment to Account for Major Share of Global Market
Otorhinolaryngology Devices: Introduction
- Otorhinolaryngology is a surgical specialty in medicine, which overlooks the management of conditions affecting the head and neck. It includes both medical and surgical management of various conditions of ear, nose, and throat.
- Health care professionals managing these conditions are known as ENT surgeons, otorhinolaryngologists, otolaryngologists, and head & neck surgeons. These professionals basically examine and treat patients with functional diseases affecting the patient’s sense of drinking, eating, and hearing. Some of the ear conditions treated by ENT surgeons are age-related hearing loss, otosclerosis, deafness, and otitis media with effusion.
- In otorhinolaryngology, various devices are used to diagnose and treat ENT conditions such as hearing aids, voice prosthesis devices surgical instruments, endoscopes, and hearing implants
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Key Drivers and Restraints of Global Otorhinolaryngology Devices Market
- The global otorhinolaryngology devices market is primarily driven by significant increase in adoption of minimally invasive ENT procedures, technological advancements, and surge in global geriatric population
- According to the United Nations, by 2050, older persons are expected to account for more than 25% of the population in Europe and Northern America. Japan is home to the world’s most aged population, with 33% of the population aged 60 years or above in 2015.
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Diagnostic Devices Segment to Account for Major Share of Global Market
- In terms of type, the global otorhinolaryngology devices market can be classified into diagnostic devices, surgical devices, hearing aids, hearing implants, and nasal splints
- The diagnostic devices segment is anticipated to dominate the global otorhinolaryngology devices market during the forecast period due to increase in number of diagnostic procedures for ear, nose, and throat conditions, and rise in emphasis on early diagnosis of ENT conditions.
- The surgical devices segment is expected to witness significant growth owing to adoption of surgical instruments and minimally invasive techniques during surgical procedures.
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Hospitals & Ambulatory Surgical Centers to be Highly Lucrative Segment
- Based on end-user, the global otorhinolaryngology devices market can be categorized into hospitals & ambulatory surgical centers, ENT clinics, and others
- The hospitals & ambulatory surgical centers segment is likely to account for major share of the global otorhinolaryngology devices market by 2030, owing rise in prevalence of ENT disorders, increase in number of patients, and surge in adoption of technologically advanced diagnostic & surgical devices.
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North America to Dominate Global Otorhinolaryngology Devices Market
- In terms of region, the global otorhinolaryngology devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global otorhinolaryngology devices market during the forecast period owing to presence of prominent manufacturers of ENT devices, favorable reimbursement scenario for ENT procedures, and high awareness among patients.
- The market in Asia Pacific is anticipated to witness strong growth during the forecast period owing to increase in number of patients with hearing loss, especially the geriatric population.
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Key Players Operating in Global Market
The global otorhinolaryngology devices market is highly fragmented, with a large number of domestic players accounting for major market share.
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