ENT Devices Market is Poised to Reach USD 14,001.3 Million by 2020

Date: 2015-11-24

The ENT devices market is poised to reach USD 14,001.3 million by 2020 from USD 10,219.3 million in 2015, growing at a CAGR of 6.5% from 2015 to 2020. This market is categorized on the basis of products, end users, and regions. 

Major factors contributing to the growth of the global ENT devices market include high prevalence of chronic sinusitis, rising geriatric population, favorable reimbursement scenario for ENT procedures in developed countries, rising adoption of minimally invasive ENT procedures, increasing presence of prominent players in the ENT devices market, and technological advancements However, changes in the reimbursement policy for Tracheoesophageal Voice Prosthesis (TEP) devices in the U.S., high cost of CO2 lasers, and high cost and lack of reimbursement for hearing aids are factors that are likely to restrict the growth of this market during the forecast period.

North America commands the largest share of the global ENT devices market in 2015 and is expected to grow at a second-highest growth rate from 2015-2020. According to the Centers for Disease Control and Prevention (CDC), in January 2015, in the U.S., about 12.1% of adult population or 28.5 million people are suffering from chronic sinusitis, which is making it more prevalent disease than diabetes and asthma. Also, chronic sinusitis is one of the ten 10 medical conditions which contribute to ~USD 8.6 billion of direct healthcare cost in the U.S. Every year, around 500,000 sinus surgeries (operating room) are performed in the U.S. Thus, high prevalence of sinusitis is one of the major factors that will further increase the demand for ENT surgical devices, thereby driving the growth of North American ENT devices market. 

Apart from the comprehensive regional analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players and their product portfolios, developments, and strategies adopted. The above mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, and change in strategic approach; R&D investments; and levels of output in order to remain successful.

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