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Press Release

ENT Devices Market will grow at 5% CAGR to cross $24 billion by 2023

Global Market Insights,Inc.
Posted on: 24 Aug 17
ENT Devices Market will grow at 5% CAGR to cross $24 billion by 2023 Diagnostic ENT Devices Market holds the largest share of the global market, with revenue forecast at USD 5.2 billion by 2023, propelled by the rising prevalence of hearing loss, throat disorders & increasing aging population using diagnostic devices.

PR Newswire

OCEAN VIEW, Del., Aug. 24, 2017

OCEAN VIEW, Del., Aug. 24, 2017 /PRNewswire-iReach/ -- The Industry outlook report "ENT Devices MarketBy Product [Diagnostic (Rigid Endoscopes,Flexible Endoscopes, Robot assisted Endoscope, Hearing screening devices), Surgical (Radiofrequency handpieces, Powered surgical instrument,Otological Drill Burs, Tympanostomy tubes, Sinus Dilation devices, Nasal Packing devices), Hearing Implants (Auditory Brainstream, Cochlear implant, Middle Ear implant, Bone anchored system), Voice Prosthesis Device, Nasal Splints (Internal, External)], Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Japan, India, China, South Africa, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023" by Global Market Insights, Inc. forecast ENT Devices Market is expected to cross $24 billion by 2024.

Global (Ear, Nose, Throat) ENT Devices Market size was evaluated at $16.71 billion for 2015 and is predicted to register CAGR of 5% during forecast timeframe. Rising occurrence of ear, nose and throat related disorders along with growing old age population is predicted to promote (ear, nose, throat) ENT devices market trends during forecast timeline.

Occurrence of hearing impairment has been growing since last few years due to rising noise pollution. Age also acts as a key aspect for acquiring hearing loss and there is growing occurrence of deafness in old people. About 20.1% of aging population above age of 60 years suffer hearing loss and percentage grows to about 40.1% for people who have crossed 75 years of age. The reason for the deafness in old people can be attributed to their low immunity levels making their ear, nose & throat prone to infections like inner mucosal lining inflammation.

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Large rate of occurrence of hearing problems were observed in developing nations. In 2012, about 89.1% of the total hearing problems occurred in developing regions where medical requirements were not fulfilled.

The costs of the ailments like oropharyngeal cancer and larynx cancer is growing globally, particularly in emerging economies. Growing occurrence of cancer and frequently occurring throat ailments are predicted to propel the industry growth.

Introduction of new technologies that can be easily used by patients and accessibility of tiny sized equipment's is predicted to increase the demand for ENT devices. Further, growing use of modern laser & radiofrequency technique during surgery & diagnostic processes is predicted to drive (ear, nose, throat) ENT devices market size.

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ENT (ear, nose and throat) diagnostic devices segment dominated the industry share with revenue surpassing $5.2 billion by end of forecast period. The growth is attributed to factors like increasing frequency of hearing loss & throat disorders along with rising old age population which use diagnostic devices.

This segment was mainly driven by robot assisted endoscope followed by flexible endoscope. Robot assisted endoscope sub segment is predicted to touch $2 billion by forecast period.

Radiofrequency hand piece equipments segment was evaluated at $895.71 million for 2015 and led the industry whereas hearing implants segment was driven by cochlear implants for 2015.

Hearing implants segment is predicted to register a CAGR of 7.2% which is comparatively higher. This expansion can be credited to factors like rising old age population and hearing losses occurring due to type of work. Continuous launching of new implants is also one of the aspects predicted to promote the growth of the segment.

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Regional Insights

North America dominated the industry and was evaluated at $6.2 billion for 2015. Rising occurrence of hearing loss is one of the key factors driving the growth of the industry in North America.

Rise in government initiatives has resulted in increase in demand for hearing aids instruments in APAC which is predicted to register CAGR of 6.5% by end of 2023. Further, growing occurrence of hearing problems, particularly in aging population along with entry of multinational companies is predicted to drive the industry growth in the region.

UK, France and Germany led the European industry by contributing greater than 58.1% to the total sales for 2015. Latin America and Middle East & Africa are the regions predicted to witness moderate industry growth in future.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Last updated on: 24/08/2017

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