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(Medical-NewsWire.com, February 23, 2022 ) The ENT devices market is estimated to reach $23.5 billion by 2026 at a CAGR of 6.5% during the forecast period 2021-2026. The primary use of ENT device is to assist medical professionals in the diagnostics and treatment of patients with various diseases or disorders in the ear, nose, throat (ENT) and other related parts of the head and neck. ENT disorders are extremely common among the population with conditions such as sinusitis, hearing loss, and nasal polyps being widespread. Some of the commonly used ENT devices include Hearing Aid, Nasal Splints, Hearing Implants, and so on. The ENT devices market size is poised to grow during the forecast period of 2021-2026 owing to the rising geriatric population and disposable income among the global population. However, high cost of ENT devices acts as resistance to the growth of the ENT devices industry.
ENT Devices Market Segment Analysis - By Product Type
The ENT devices market based on the product type can be segmented into Diagnostic Devices, Surgical Devices, Hearing Aids, Hearing Implants, and Nasal Splints. The Hearing Aid segment is estimated to be the fastest growing segment of the market owing to the increase in the elderly population. When aging occurs, degradation of nerve pathways between the ear and brain may lead to difficulties in hearing. The Diagnostic Devices market is further segmented into Endoscopes and Hearing Screening devices. The Endoscope segment is estimated to be the largest segment during the forecast period owing to substantial innovation and research in Endoscope technology to aid surgeries. The Flexible Endoscope market is estimated to grow at fastest CAGR of 6.9% during the forecast period. The increase in ENT Surgical procedures such as Balloon Sinus Dilation and Sinus scraping surgery will lead to a rise in demand for Surgical Devices during the forecast period.
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ENT Devices Market Segment Analysis - By End User
The ENT Devices Market is segmented into Hospitals, Ambulatory Settings, ENT Clinics, Research and Academic Institutes, Home Care Settings, and others in terms of End User. Hospitals and Ambulatory Settings is estimated to have the largest market share with 37% for the year 2021. This can be attributed to the rise in global disposable income, reduction in ENT treatment costs, and increase in awareness regarding ENT conditions and their treatment among the public. The ENT Clinics segment is forecast to see a rapid rise in the developing regions of the globe owing to the low setup cost of clinics and high patient population in the region.
ENT Devices Market Segment Analysis - By Geography
The ENT Devices Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. North America held the largest share with 31% in 2020. The well-established healthcare system along with the increase in presence of ENT illnesses among the population are the major factors driving this market. Chronic sinusitis affects more than 12% of the adult US population, leading to an expense of $8.6 Billion annually for its treatment. The strong presence of major ENT Device manufacturing companies in the region also leads to deeper market penetration. Europe accounts for the largest market share of ENT Devices after North America at 30%. The Asia Pacific market is estimated to experience the fastest growth over the forecast period owing to a rapid rise in income, awareness, and population. Growth in urbanization and rise in pollution in major Asian economies such as China, Japan and India have also increased the ENT disorders. This, in turn, is leading to a rise in demand for ENT devices.
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ENT Devices Market Drivers
Increase in the global geriatric population is set to Boost Product Demand
The risk of ENT disorders such as hearing loss significantly rises with age. According to the World Health Organization (WHO), the population suffering from hearing loss is expected to increase from 466 million in 2018 to around 900 million in 2050. This increase is directly attributed to the rise of the global geriatric population. This is estimated to lead growth in demand for Hearing Aids, Hearing Implants and Surgical Devices.
Rise in the Demand for Cosmetic ENT Procedures is Projected to Drive Market Growth
The surge in demand for Cosmetic ENT Procedures such as cosmetic rhinoplasty and otoplasty for the nose and ears respectively, are major driving factors for ENT devices. The demand for surgeries related to obstructed airway is leading the demand for Cosmetic Rhinoplasty. Besides, the recent developments and innovation in Cosmetic ENT Procedures have increased their safety while also making it less invasive. This is leading to a rise in popularity for ENT procedures.
ENT Devices Market Challenges
Shortage of ENT surgeons and otolaryngologist is Anticipated to Hamper Market Growth
Both the developed and under-developed nations of the world are facing acute shortage of ENT surgeons and otolaryngologists. The US alone is estimated to face shortage of around 2500 otolaryngologists by 2026 despite seeing a rapid rise in ENT disorders. The shortage is likely to cause reduction in overall ENT procedures conducted and thereby, reducing demand for ENT Devices.
ENT Devices Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the ENT Device Market. Top 10 companies in ENT Devices are-
Siemens Healthcare
WS Audiology
Medtronic
Stryker
Olympus Corporation
Richard Wolf GmbH
MED-EL Medical Electronics
Sonova
FUJIFILM Corporation
Nurotron Biotechnology
Partnerships/Product Launches:
In 2020, Sonova launched the Phonak Paradise hearing aid platform that allows users to answer phone calls, stream music and use voice assistants such as Alexa and Siri. Moreover, the device can automatically change the noise cancellation measure depending on whether the user is moving or having a conversation.
In 2021, MED-EL launched SAMBA 2 Audio Processor for the BONEBRIDGE Bone Conduction System. The processer aids users in listening in complex outdoor environments where background noise is high. It also increases the battery life to 10 days.
Key Takeaways
Geographically, the North American region has the highest ENT devices market share owing to the presence of a well-funded and established healthcare system and high patient awareness levels. North America is predicted to maintain the lead in ENT devises market share, although Asia Pacific region is estimated to grow the fastest during the forecast period.
The rise in prevalence of various illnesses such as chronic sinusitis and the adoption of less invasive ENT procedures are driving the market. However, a shortage of ENT professionals in both developed and underdeveloped regions can act as a major challenge to the ENT devices market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the ENT Devices Market Report.
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B. ENT Endoscopic And Bronchoscopic Devices Market
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Venkat Reddy
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Source: EmailWire.Com 
Source: EmailWire.com
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