The ENT devices market size is expected to reach US$ 30.5 billion by 2030 from valued at US$ 21.5 billion in 2021 and to garner growth at a CAGR of 5% over the forecast period 2021 to 2030.
The ENT devices market size is expected to reach US$ 30.5 billion by 2030 from valued at US$ 21.5 billion in 2021 and to garner growth at a CAGR of 5% over the forecast period 2021 to 2030.
Growth Factors
The ENT devices are used in the treatment and diagnostics of ear, nose, and throat disorders. The ENT devices such as nasal splints, diagnostic ENT devices, hearing implants, surgical ENT devices, and hearing aids are used in the treatment of ear, nose, and throat diseases. One of the key factors driving the growth of the global ENT devices market is the involvement of innovative and advanced technologies in the production of the ENT devices. The ENT devices need approval from government agencies. Nowadays, key market players get easy approvals for the manufacturing of the ENT devices. Thus, this factor is driving the growth of the global ENT devices market. It has been noticed that there is growing prevalence of ear, nose, and throat problems. This is necessitating the adoption of ENT devices on a large scale. In addition, in developing and developed regions such as North America and Europe, the favorable government regulations and constant efforts by government to install such devices at hospitals is creating growth opportunities for ENT devices market over the projected period.
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The global ENT devices market is expanding due to rising senior population. It has been noticed that the patients for ENT disorders are mostly people with above 60 ages. This means the ENT devices are largely used for geriatric population. Moreover, the factors such as easy to operate and install, low maintenance cost, and wide availability are boosting the expansion of the worldwide ENT devices market during the forecast period.
Report Highlights:
- Based on the product, the diagnostic ENT devicessegment dominated the global ENT devices market in 2020 with largest market share. The diagnostic ENT devices are used to detect and diagnose the issues related to ear, nose, and throat.
- On the basis of end user, the hospitalssegment holds the largest market share the global ENT devices market in 2020.The growth of the ENT devices market is attributed to the rising adoption of ENT devices in hospitals.
- North America is the largest segment for ENT devices market in terms of region.The factors such as existence of market players and growing adoption of reimbursement policies are driving the growth of the ENT devices market.
- Asia-Pacific region is the fastest growing region in the ENT devices market.The ENT devices market in Asia-Pacific region is growing due to growing investment by key market players and rising expenditure on healthcare facilities.
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Future of ENT Devices Market
The disorders related to ear, throat, and nose is rising at a rapid pace. This is resulting for the surge in demand for ENT devices in the market. In addition, the growing awareness of ENT devices among patients and healthcare practitioners is driving the global ENT devices market. Moreover, the growing geriatric population is creating lucrative opportunities for the expansion of the global ENT devices market. The old age people are more prone to ear, nose, and throat disorders, which increase need for installation of ENT devices in the healthcare centers and hospitals. Furthermore, the rising penetration of innovative technologies and innovation in the medical devices industry is paving way for the growth of the global ENT devices market. In addition, the strict government rules and guidelines in developed and developing regions is also driving the ENT devices market expansion. As a result, due to all of these factors, the market for ENT devices is expected to grow in the near future.
COVID-19 Impact Analysis:
- The growth of the global ENT devices market was declining during the COVID-19 pandemic.
- The hospitals visit for the treatment of ear, nose, and throat related disorders declined during the coronavirus outbreak.
- In addition, the supply chain disruption also caused negative impact on the global ENT devices market.
- However, the market for ENT devices is expected to rebound in coming years due to the removal of lockdown restrictions.
Key Developments in the Marketplace:
- WIDEX MOMENT, the first generation of hearing aids that sound natural was launched by WS Audiology in March 2020. Widex’s unique ZeroDelay Technology makes this possible.
- In 2020, Sonova Holding AG will open World of Hearing, a new retail format in the field of hearing solutions in the Netherlands to grow its ENT devices research and commercial manufacture. Sonova Holding AG introduced innovative technology that allows hearing aid fits to be done completely remotely.
- GN Hearing and Cochlear Limited teamed up with Google in September 2019 to declare support for direct streaming from Android devices to hearing equipment through Bluetooth Low Energy.
Segments Covered in the Report
By Product
- Diagnostic ENT Devices
- Surgical ENT Devices
- Hearing Aids
- Hearing Implants
- Nasal Splints
By End User
- Hospitals
- Ambulatory settings
- ENT clinics
- Research and academic institutes
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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