Global Growth Driving Factors:

The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

Growth in this market is attributed to the growing prevalence of sinusitis, the rapidly growing geriatric population, favorable reimbursements for ENT procedures in developed countries, the growing adoption of minimally invasive ENT procedures, the increasing presence of prominent players in the global market, and technological advancements.

Global Growth in Revenue Generation:

The global ENT devices market in terms of revenue was estimated to be worth $16.2 billion in 2021 and is poised to reach $22.3 billion by 2026, growing at a CAGR of 6.6% from 2021 to 2026.

Opportunity: Growing healthcare market in emerging economies

Developing economies such as China, India, and LATAM (Latin American) countries represent significant growth opportunities for players in the ENT devices market. According to OECD, the global middle-class population is estimated to increase from 1.8 billion in 2009 to 4.9 billion in 2030. Asia is expected to account for 66% of the global middle-class population by 2030. In countries such as China and India, the growth in purchasing power is enabling people to purchase technologically advanced ENT devices, thereby fueling the growth of the market.

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The Hearing Aids segment is expected to grow at the highest CAGR during the forecast period

By product, the ENT Devices market is segmented into Diagnostic Devices, Surgical Devices, Hearing Aids, Hearing Implants, Co2 Lasers, Image-Guided Surgery Systems. In 2020, the Hearing Aids products segment accounted for the larger share of the ENT Devices market. The large share of this segment can be attributed to increases in the demand for hearing aids. As an individual age, changes occur in the nerve pathways from the ear to the brain which can lead to hearing loss.

The Endoscopes segment of Diagnostic Devices accounted for the largest share of the ENT Devices market

Based on the Diagnostic Devices, the ENT Devices market is segmented into Endoscopes and Hearing Screening Devices.  In 2020, the Endoscopes segment accounted for the largest share of the ENT Devices market. The large share of this segment can be attributed to research and development in endoscopes leads to the launch of efficient and different types of endoscopes for the surgeries.

End Users:

Hospitals and Ambulatory Settings accounted for the largest share of the ENT Devices market

By end user, the ENT Devices market is segmented into Home Use, Hospitals and Ambulatory Settings, ENT Clinics. Hospitals and Ambulatory Settings segment accounted for the largest market share. The increasing rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising knowledge and awareness regarding the procedure’s success or failure is the major driving factors for this market.

Geographical Growth Dynamics:

North America dominates the global ENT Devices market

The ENT Devices market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the ENT Devices market. The large share of North America can primarily be attributed to the increasing favorable reimbursement scenario for ENT procedures and the strong presence of major market players in this region.

Global Leading Companies:

The major players in the ENT Devices market are Karl Storz Gmbh co. KG (Germany), Medtronic plc (Ireland), Stryker Corporation (US), Olympus Corporation (Japan), Cochlear Limited (Australia), Sonova Holding AG (Switzerland),  William Demant holding a/s (Denmark), etc.

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