The global ENT devices market was valued at USD 21.5 billion in 2021 and expected to hit USD 30.5 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 5% during the forecast period 2021 to 2030.
The abbreviation ENT stands for ear, nose, and throat, and ENT devices refers to the instruments that deal with these organs. These devices are used by doctors to treat medical conditions related to ear, nose, and throat.
A wide range of ENT devices are available in the market that are designed for dealing with problems in the structures of the head and neck such as the ear, nose and throat. Some of the major instruments used are Aural Forceps, Nasal Forceps, Tongue Depressors, Speculums, and Laryngoscopes. Demand for these devices is rising as they eases the process of treatment and convenience. Moreover, the growing prevalence of ear, nose, and throat problems among adults is a primary factor driving global demand for ENT equipment. Ear, nose, and throat disorders have a substantial negative impact on one's quality of life and are the most common reason for frequent hospital visits. Furthermore, as the elderly population grows, the frequency of hospital visits connected to ENT disorders continues to climb and hence, the industry is rising.
The ENT surgical devices and equipment uses is being driven by rising demand and adoption of minimally invasive ENT surgeries. Patients benefit from minimally invasive ENT operations because they have smaller incisions, faster recovery times, less pain, and less scarring.
The market for these devices is being boosted greatly by the fast-increasing biotechnology and healthcare industries in developed nations such as U.S. and Canada. However, the ENT device market is hampered by the high cost of ENT devices and procedures, as well as the high cost of equipment. The high cost of ENT operations, which is related to increased research and development expenditures as well as other constant and variable costs connected with medical equipment, is a major stumbling block.
As the healthcare industry is one of the highest growing industries across globe, the diseases and disorders related to ENT will also boost, hence the demand for these devices will boost.
Scope of the ENT Devices Market Report
|Market Size||USD 30.5 Billion by 2030|
|Growth Rate||CAGR of 5% From 2021 to 2030|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End User, Region|
|Companies Mentioned||Demant A/S, Sonova, Ambu A/S, Pentax Medical, Karl Storz, Olympus Corporation, Richard Wolf Gmbh, Widex, Cochlear Ltd., Sivantos, Inc.|
Based on product, the Diagnostic ENT Devices segment dominated the market 29% in 2020, in terms of revenue and is expected to sustain its dominance during the forecast period. This is attributable to the introduction of new technologies and availability of several products in the market.
The hearing aids segment is expected to grow at the noteworthy CAGR during the forecast period due to an increase in investment on R&D by market players.
End User Insights
Based on end user, the hospitals segment dominated the global ENT Devices market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. The factors augment the growth of the segment are increasing demand for hearing care devices and presence of large hospitals chains.
The clinics segment is expected to be the fastest-growing segment during the forecast period. This is attributed to the advancements in clinical diagnostic methods and increasing awareness about diagnosis and treatment of the disease.
Based on region, North America dominated the global ENT Devices market in 2020, in terms of revenue and is estimated to sustain its dominance during the forecast period. Presence of developed healthcare infrastructure, increased health consciousness, rising healthcare expenditure, and rapidly surging popularity of the minimal invasive surgeries are the several crucial factors that spur the demand for the ENT devices in North America.
On the Other hand, Asia Pacific is expected to be the fastest-growing market during the forecast period. The growing prevalence of ear, nose, and throat related disorders among the old age population is fueling the demand for the ENT devices. According to the World Health Organization, the proportion of the global population of over 60 years is anticipated to double from 12% to 22%, between 2015 and 2050. Around 80% of the global geriatric population will be living in low and middle-income nations. Hence, Asia Pacific is estimated to be the fastest-growing market in the forthcoming years.
Key Companies & Market Share Insights
The market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
In September 2019, Cochlear Limited and GN Hearing collaborated with google for direct streaming android devices to hearing using Bluetooth Low Energy (BLE).
In September 2020, WS Audiology is a privately-owned manufacturer of hearing aids, launched of WIDEX MOMENT-the first generation of hearing aids that sound natural.
The various developmental strategies like acquisitions and mergers foster market growth and offers lucrative growth opportunities to the market players.
Some of the prominent players in the global ENT Devices market include:
Segments Covered in the Report
By End User
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