Northbrook, IL 60062 -- (SBWIRE) -- 06/19/2023 -- According to the new market research report "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. 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 ENT devices industry 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.

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226 – Tables
38 – Figures
319 – Pages

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The growth in this market is attributed to the rising aging population and the associated hearing loss, rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising product availability and awareness.

Driver: Favorable reimbursement scenario for ENT procedures in developed countries
In the developed countries, surgical procedures for ENT are reimbursed in most cases, such as balloon sinus dilation and endoscopic sinus surgery, computer-assisted surgical navigation, tongue suspension and hyoid suspension for the treatment of obstructive sleep apnea (OSA), and inferior turbinoplasty procedures. Only ENT surgeries performed mainly for snoring (considered as a cosmetic problem) are not reimbursed at all which include procedures such as pillar procedure, radio frequency ablation, injection snoreplasty, laser ear surgery, cosmetic rhinoplasty, and otoplasty.

As of December 2016, third-party payer insurance coverage for standalone balloon sinus dilation procedures is available for an estimated 230 million people in the US, which represents 80% of the covered people in the country. In the US, the standalone balloon sinus dilation procedure performed at the physician's office is covered by various third-party payers, such as Medicare, United Healthcare, Aetna, Cigna, Humana, Kaiser Permanente, TRICARE, Health Net, Medicaid, and Blue Cross Blue Shield. Also, coverage of USD 180-USD 300 is provided for throat procedures such as tonsillectomies. For instance, the reimbursement for the tonsillectomy procedure within the state of Virginia is USD 200 (including follow-up care for 90 days after the procedure). Thus, favorable reimbursement scenario in developed countries provides the impetus for the growth of the market.

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 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.

Key Market Players:

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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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 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 in 2020
Based on the Diagnostic Devices, the market is segmented into Endoscopes and Hearing Screening Devices. In 2020, the Endoscopes segment accounted for the largest share of the 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.

North America dominates the global ENT Devices market

The market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the 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.

Report Link: ENT Devices Market

Table of Content:

1 INTRODUCTION (Page No. - 20)
1.1 OBJECTIVES OF THE STUDY
1.2 ENT DEVICES INDUSTRY DEFINITION
1.3 MARKET SCOPE
1.4 CURRENCY
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 24)
2.1 RESEARCH DATA
2.2 ENT DEVICES INDUSTRY SIZE ESTIMATION
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION

3 EXECUTIVE SUMMARY (Page No. - 39)

4 PREMIUM INSIGHTS (Page No. - 45)

5 MARKET OVERVIEW (Page No. - 49)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS

FIGURE 20 ENT DEVICES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES

6 ENT DEVICES MARKET, BY PRODUCT (Page No. - 57)
6.1 INTRODUCTION
6.2 DIAGNOSTIC DEVICES
6.3 SURGICAL DEVICES
6.4 HEARING AIDS

7 ENT DEVICES MARKET SIZE, BY REGION (Page No. - 91)
7.1 INTRODUCTION
7.2 NORTH AMERICA

FIGURE 21 NORTH AMERICA: ENT DEVICES MARKET SIZE SNAPSHOT
TABLE 49 NORTH AMERICA: MARKET SIZE, BY PRODUCT, -2026 (USD MILLION)
TABLE 50 NORTH AMERICA: MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 51 NORTH AMERICA: ENT ENDOSCOPES MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 52 NORTH AMERICA: RIGID ENT ENDOSCOPES MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 53 NORTH AMERICA: FLEXIBLE ENT ENDOSCOPES MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 54 NORTH AMERICA: ENT SURGICAL DEVICES MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 55 NORTH AMERICA: HANDHELD ENT INSTRUMENTS MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 56 NORTH AMERICA: ENT SUPPLIES MARKET SIZE, BY TYPE, 2019-2026 (USD MILLION)
TABLE 57 NORTH AMERICA: ENT DEVICES MARKET SIZE, BY END USER, 2019-2026 (USD MILLION)