PUBLISHER: The Insight Partners | PRODUCT CODE: 1830975
PUBLISHER: The Insight Partners | PRODUCT CODE: 1830975
The ENT Devices market is projected to increase from US$ 22.54 billion in 2024 to US$ 35.06 billion by 2031, with an expected CAGR of 6.4% from 2025 to 2031.
Market Insights and Analyst View:The forecast for the ENT Devices market provides valuable insights for stakeholders to strategize their growth plans.
Key factors driving the growth of the ENT devices market include the high incidence of ENT diseases and disorders such as tonsillitis, allergies, gastro-oesophageal reflux disease, and laryngopharyngeal reflux disease. However, the high costs and the absence of reimbursement policies for ENT devices pose challenges to market growth.
Growth Drivers and Challenges:Hearing loss significantly affects various aspects of human life, including physical, emotional, and mental well-being. According to the World Health Organization (WHO), approximately 5% of the global population (around 432 million people) will need rehabilitation for hearing loss in 2023, a figure expected to exceed 700 million by 2050. The Hearing Loss Association of America reports that about 22 million workers in the US are exposed to hazardous noise levels at work, with one in five men and one in eight women experiencing hearing difficulties. The Labour Force Survey indicates that around 11,000 cases of hearing issues are work-related or exacerbated by work each year in Great Britain.
The WHO estimated that in 2019, there were 1 billion people aged over 60, projected to rise to 1.4 billion by 2030 and 2.1 billion by 2050. The share of the geriatric population is expected to increase from approximately 15% to 24% during this period. Eurostat reports that Europe had the highest percentage (20.8%) of individuals over 60 in 2021. Furthermore, by 2050, over 25% of the population in all regions except Africa will be over 60. This increase in the elderly population has led to a rise in various ENT disorders, thereby expanding the ENT devices market.
Strategic Insights
Report Segmentation and Scope:According to the "ENT devices market analysis", the market is categorized by product, end user, and geography.
Segmental Analysis:In terms of product, the ENT devices market is divided into diagnostic devices, surgical devices, hearing aids, hearing implants, and others. The surgical devices segment accounted for the largest market share in 2022 and is anticipated to exhibit the highest CAGR from 2022 to 2030. Surgical devices in ENT include powered surgical instruments, radiofrequency handpieces, handheld instruments, ENT supplies, balloon sinus dilation devices, ear tubes, and voice prosthesis devices. The rise in minimally invasive surgeries and advancements in surgical ENT technology are expected to influence market trends positively in the coming years.
By end users, the report categorizes the market into ENT clinics, hospitals and ambulatory centers, and others. In 2022, the hospitals and ambulatory centers segment held the largest share of the ENT devices market and is projected to achieve the highest CAGR from 2022 to 2030. This segment is expected to lead the market due to the increasing number of ENT surgeries performed in ambulatory centers and outpatient facilities. Hospitals provide comprehensive healthcare services, including disease screening, diagnosis, and treatment, supported by advanced equipment. The rising number of hospital admissions, along with a high prevalence of ENT diseases, drives the growth of the ENT devices market in the hospital segment.
Regional Analysis:Geographically, the ENT devices market report is divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest market share in 2022, driven by technological advancements, an increasing number of ENT diseases, a growing elderly population, and the presence of key market players engaged in product development. Additionally, extensive research and development by pharmaceutical and biotechnology companies, as well as academic and research institutions, is expected to boost the growth of the ENT devices market in North America. The Asia Pacific region is anticipated to register the highest CAGR from 2022 to 2030.
The US accounted for the largest share of the ENT devices market in North America in 2022. The growth of the ENT devices market in the US is primarily driven by the rising incidence of ENT diseases, new product launches, and favorable reimbursement conditions for ENT devices. According to the National Institute on Deafness and Other Communication Disorders, around 30 million people, or 13% of the US population aged 12 and older, experienced hearing loss in one or both ears in 2021. The same source indicates that approximately 28.8 million people in the US could benefit from hearing aids. The presence of leading market players focusing on product development and launches further supports market growth in the US. Meanwhile, the Asia Pacific region is the fastest-growing area, attributed to significant population growth and the presence of populous countries like China and India.
ENT Devices Market Report Scope
Industry Developments and Future Opportunities:Key initiatives by major players in the ENT Devices Market include:In June 2023, Sonova Holding AG launched Sennheiser All-Day Clear in the US, expanding its branded solutions for individuals with early-stage hearing loss, offering options from prevention to situational assistance.
In May 2022, Medtronic PLC completed the acquisition of Intersect ENT, enhancing its ENT portfolio with innovative products for sinus procedures aimed at improving post-operative outcomes and treating nasal polyps. This acquisition brought Medtronic unique bioabsorbable, steroid-eluting implants for sinus patients, namely PROPEL and SINUVA.
Competitive Landscape and Key Companies:Prominent companies featured in the ENT devices market report include Innovia Medical, Sony Electronics, Cochlear Limited, Karl Storz SE & Co. KG, Medtronic PLC, Stryker Corporation, Smith & Nephew PLC, Johnson & Johnson MedTech, Olympus Corporation, and Advanced Bionics. These companies are focused on geographic expansion and launching new products to meet the increasing global consumer demand and enhance their specialty product portfolios. Their international presence enables them to cater to a broad customer base, facilitating market growth.