Sinus Dilation Devices Market to Grow with a CAGR of 7.98% During 2020-2028; Growing Demand for Minimally Invasive Surgical Procedures and Equipment to Create Opportunities for Market Growth
Research Nester has released a report titled “Sinus Dilation Devices Market – Global Demand Analysis & Opportunity Outlook 2028” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Over the years, there has been a significant growth in the advancement of surgical procedures and equipment. One such surgical procedure is the minimally invasive process, which is known to be patient-friendly, backed by the numerous beneficial properties of the process, such as low operating time, less pain and fewer complications. Growing prevalence of chronic sinusitis globally is raising the need for the utilization of surgical procedures that can help treat the disorder. Healthcare specialists are increasingly preferring the use of minimally invasive surgical equipment for the treatment of chronic sinusitis by using devices such as sinus dilation. Such factors are anticipated to drive the market growth during the forecast period.
The global sinus dilation devices market is anticipated to grow with a CAGR of 7.98% during the forecast period, i.e., 2020-2028, owing to the increasing collaborations between companies for the research and development of new and advanced surgical products for the treatment of sinusitis, coupled with the increasing incidences of chronic sinusitis (CNS) globally, and increasing number of product launch in the recent years.
The market is segmented by product type into balloon sinuplasty devices and sinus stents/implants, out of which, the balloon sinuplasty devices segment is anticipated to hold the largest market share. The growth of the segment can be attributed to the increasing preference of balloon sinuplasty devices for the treatment of sinusitis, backed by the numerous benefits associated with the product. These devices help to dilate obstructed sinus ostia in patients and doesn’t require the removal of a tissue or bone during the treatment process and causes less bleeding as compared to conventional treatment processes.
Regionally, the global sinus dilation devices market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Out of these regions, the North America sinus dilation devices market held the largest share of 28.7% in the year 2019, backed by the rising healthcare expenditure in the region, followed by the increasing investments for technological innovations and the growing prevalence of sinusitis.
However, concerns for the risks, such as bleeding, postoperative infections, recurrent sinus infections, and others, associated with the utilization of sinus dilation devices for the treatment of chronic rhinosinusitis are anticipated to lower the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global sinus dilation devices market, which includes company profiling of Acclarent, Inc., Stryker (NYSE: SYK), Medtronic (NYSE: MDT), InnAccel Technologies Pvt. Ltd., Meril Life Sciences Pvt. Ltd., Dalent Medical, Smith & Nephew (LON: SN), Intersect ENT, Inc. (NASDAQ: XENT), Olympus America (TYO: 7733), and Coronado Medical.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Sinus Dilation Devices Market – Global Demand Analysis & Opportunity Outlook 2028”, analyses the overall sinus dilation devices industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global sinus dilation devices market in the near future.