According to a recently published report, Global Ent Devices Market is expected to grow at the CAGR of 6.8% during 2015-2022 and it is estimated to be $1.50 billion by 2022. The global ENT devices market is segmented on the basis of devices, end user applications and geography. The report on global ENT devices market forecast 2015-2022 provides detailed overview and predictive analysis of the market.
The global ENT devices market is expected to grow exponentially due to its wide application in number of regions such as home use, hospitals, ambulatory settings, ENT clinics etc. The increasing demand for ENT devices in various sectors is the reason for its tremendous growth. It is providing devices in almost all the sectors of the industry such as hearing devices market, hearing implants, diagnostic devices, nasal splints, voice prosthetics, surgical devices etc.
Some of the other reasons for the growth of the market are increasing trend of customized implants, increase in the incidence of sinusitis. Increasing population base of geriatric people also is leading to the growth of the field. As per the action of hearing loss information more than 10 million people in UK suffer from hearing loss and in this 6.4 million belong to the age group of 65 and above. There is an increase in the number of ageing population day by day and this is also leading to the growth of the market
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At the same time government is supporting the field to enhance healthcare services. ENT devices market in healthcare provides customized products such as hearing implant. Products are being manufactured depending on the patient’s requirement. The new technologies are safe and effective and would bolster lifestyle of the patients. ENT devices are also used for commercial purposes.
Although, there are many drivers of the field but still there exists certain restraints which are proving to be hurdle for the market growth some of them are prevalence of social stigmas, high cost of procedure and instruments and lack of proper reimbursements policy.
Presently, North America and Europe holds the largest market share of the field i.e. more than 60% of the market total. Followed by Asia pacific,
Some of the major market players listed in the report are Stryker Corporation, Acclarent Inc. (A subsidiary of Johnson & Johnson), Sonova Holding AG, AventaMed, Hoya Corporation etc.
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