Global ENT Devices Market Grows Steadily at a CAGR of 6.20%

Introduction

ENT devices refer to the instruments that deal with these organs. Doctors use these devices to treat medical conditions involving the ear, nose, and throat. These organs' usual function is affected by various factors, including aging and sinusitis. One of the most important branches of medicine, ENT, is primarily concerned with diagnosing and treating ear, nose, and throat problems. ENT devices, which are designed to treat problems in the head and neck structures, such as the ear, nose, and throat, are widely available on the market. Aural Forceps, Nasal Forceps, Tongue Depressors, Speculums, and Laryngoscopes are some of the most common instruments used. The demand for these devices is increasing as they make treatment more accessible and convenient. Furthermore, the rising prevalence of ear, nose, and throat problems among adults is a significant driver of global ENT equipment demand.

Market Dynamics

Rising Number of People Suffering from Hearing Loss and Demand for ENT Diagnostic Devices due to Technological Advancements Drives the Global Market

According to the Hearing Loss Association of America and CDC, hearing loss is the third leading health issue in adults after heart disease and arthritis. HLAA says 25% of Americans have tinnitus and are at risk for hearing loss. Increasing age will also boost the market. These elderly with hearing issues increase the demand for hearing aids. Measles, middle ear infections, and meningitis are the leading cause of hearing loss in low-income countries. Hearing loss is caused by aging, inflammation, noise, blood vessel problems, and genetics. IoT and Bluetooth devices with AI are easier to use. These benefits are expected to boost the ENT devices market.

Incorporating artificial intelligence AI, machine learning MI, and other Internet of Things (IoT)-based technologies into ENT devices is gaining popularity. The application of technology has made detecting and treating problems more accessible. These innovations have simplified the portability of devices. The market for ENT devices is anticipated to expand due to technological advances, successful product launches, and regulatory approvals. Future technological advances in bronchoscopy devices and infrastructure upgrades in the medical and healthcare industry are anticipated to increase over time.

Growth of Healthcare Market in Developing Countries Creates Tremendous Opportunities

People in countries such as China and India are gaining purchasing power, allowing them to acquire ENT devices at the forefront of technological development. This contributes to the expansion of the market. In addition, factors such as less stringent regulatory policies, rapid urbanization, improved healthcare facilities, rising disposable income, and a rapidly aging elderly population create numerous opportunities for the growth of this market in emerging economies. Numerous market participants are focusing on expanding their market presence in developing nations to capitalize on the expansion opportunities in the ENT devices market.

Regional Analysis

North America dominates the global ENT devices market due to a high occurrence of hearing disorders, an aging population, and generous reimbursement rates. The Asia-Pacific ENT devices market is one of the most lucrative and expansive markets for global ENT industry leaders. The Asia-Pacific ENT devices market is expected to grow at the fastest rate over the forecast period, and this can be attributed to the region's massive geriatric population.

Key Highlights

• The global ENT devices market was valued at USD 14.67 billion in 2021. It is projected to reach USD 25.23 billion by 2030, growing at a CAGR of 6.20% during the forecast period (2022–2030).
• Based on procedure type, the market is segmented into flexible transoral and transnasal procedures (diagnosis and intervention), turbinate reduction, endoscopic, polyp removal, tympanostomies, and vent tube operations. Flexible transoral and transnasal procedures have seen the most significant market growth.
• Based on end-user, the market is divided into Hospitals, ENT clinics, ambulatory centers, and others. The Hospitals segment is accountable for the largest share of the market.
• Based on product type, the market is segmented into diagnostic devices, surgical devices, hearing aids, visualization devices, surgical shavers, debriders, and others. The most significant portion of the market for ENT devices is contributed by-products, primarily for hearing aids.
• North America dominates the global ENT devices market due to a high occurrence of hearing disorders, an aging population, and generous reimbursement rates.

Competitive Players

Competitive Analysis

The global ENT devices market’s major key players are Ambu A/S, Atos Medical Ab, Boston Scientific Corporation, Cochlear Limited, Demant A/S, Eckert & Ziegler AG, HOYA Corporation, Johnson & Johnson, KARL STORZ SE & Co. KG, Medtronic plc, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Plc, Sonova Holding AG, and Stryker Corporation.

Recent Developments

Market News

• February 2022- Boston Scientific Closed Acquisition of Baylis Medical Company Inc. Boston Scientific Corporation (NYSE: BSX) has completed its acquisition of Baylis Medical Company Inc., a provider of advanced transseptal access solutions as well as guidewires, sheaths, and dilators for catheter-based left-heart procedures.
• June 2022- Demant completed the full acquisition of ShengWang. Demant announced the acquisition of the remaining 80% of ShengWang's shares, giving it full ownership of China's premier network of hearing aid clinics.

Segmentation

Global ENT Devices Market: Segmentation

By Procedure Type

• Flexible Transoral and Trans nasal Procedures (Diagnosis and Intervention)
• Turbinate Reduction and Endoscopic Polyp Removal
• Tympanostomies and Vent Tube Operations

By End-User

• Hospitals, ENT Clinics
• Ambulatory Centers

By Product Type

• Diagnostic Devices
• Surgical Devices
• Hearing Aids
• Visualization Devices
• Surgical Shavers and Debriders

By Regions

• North America
• Europe
• Asia-Pacific
• Rest-of-the-World