Market Overview

ENT Devices Market revenue will achieve 8.1% CAGR to beat $24.5 billion by 2024

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ENT Devices Market revenue will achieve 8.1% CAGR to beat $24.5 billion by 2024

U.S. ENT devices market accounted for largest regional share in 2016 helped by rising geriatric population base and growing prevalence of ENT disorders in U.S.

PR Newswire

SELLBYVILLE, Del., July 31, 2018 /PRNewswire-iReach/ -- Global ENT Devices Market is projected to surpass USD 24.5 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing prevalence of ear, nose and throat disorders such as deafness, hearing loss, pharyngitis and sinusitis among the adult population base will drive industry growth over the forecast period.

Elevating noise pollution levels along with rising geriatric population worldwide should fuel demand for ENT devices in the future. Elderly patient base aged 60 years and above is susceptible to hearing ailments and nasal disorders which fuels demand and augments industry

Favourable government support in developed regions including recommendations from National Academies of Sciences, Engineering & Medicine (NASEM) in U.S., for improving affordability and access of hearing healthcare for adults will drive market growth.

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Rapid technological advancements in hearing aids, nasal splints, endoscopes, voice prosthesis devices offering comfort, ease-of-use and higher accuracy will stimulate demand over the coming years.

Soaring costs of procedures and instruments along with social stigmas across the globe will act as major restraining factors hampering industry growth during the forecast timeline.

Diagnostic ENT devices will experience considerable growth owing to increasing usage of rigid, flexible and robot-assisted endoscopes for inspection of sinuses, nasal passages, vocal cords, septum and nearby structures for abnormalities.

Also, the demand for hearing implants increases due to adoption of cochlear implants, auditory brainstem implants, bone-anchored systems used for the treatment of hearing ailments which further leads to increase in market growth over the forecast period.

U.S. ENT devices market was dominating the industry owing to the presence of growing baby boomers coupled with high prevalence of ear infections and nasal disorders in the country. Various educational programs conducted by government to increase awareness levels among individuals about noise pollution will further boost regional growth.

France will witness significant growth due to rising elderly patient pool along with the favourable reimbursement policy such as subsidy scheme providing coverage for hearing aids propelling business growth.

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Escalating noise pollution levels, rising incidences of hearing impairment and large patient pool with unmet medical needs will act as major drivers for Indian ENT devices market over the forecast years. Also, companies are capitalizing on innovative researches focusing on development of high-efficacy and easy-to-use devices to grab market share in the emerging countries.

Few notable industry players are Siemen's Healthcare, Sonova, Cochlear Limited and William Demant Holding A/S. Prominent industry players have innovative technologies in their existing product portfolio and are emphasizing on research activities, collaborations and partnerships to enhance their market share.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Jignesh Thakkar, Global Market Insights, Inc., +13028467766, sales@gminsights.com

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SOURCE Global Market Insights, Inc.

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