ENT Devices Market Size, Share, Trends, & Growth by 2030

[Research Report] The ENT Devices market is expected to grow from US$ 20,008.94 million in 2022 to US$ 32,934.09 million by 2030; it is anticipated to record a CAGR of 6.4% from 2022 to 2030.

Market Insights and Analyst View:

The ENT Devices market forecast can help stakeholders in this marketplace plan their growth strategies.

Factors such as high prevalence of ENT diseases and disorders such as tonsilitis, air allergies, gastro-oesophageal reflux disease, and laryngopharyngeal reflux disease propel the ENT devices market growth. However, high cost and lack of reimbursement policies for ENT devices impede the growth of the market.

Growth Drivers and Challenges:

Hearing loss profoundly impacts every dimension of the human experience, including physical, emotional, and mental health. As per the World Health Organization (WHO), ~5% of the global population (i.e., 432 million people) will require rehabilitation to address their hearing loss in 2023, which is expected to reach over 700 million by the end of 2050. As per the Hearing Loss Association of America, Hearing Loss Facts and Statistics, ~22 million US workers are exposed to dangerous noise levels in their workplaces. The same source further stated that one out of five men and one of eight women in the country report hearing trouble. According to the Labour Force Survey, ~11,000 cases of hearing problems are caused or made worse by work every year in Great Britain.

The WHO estimated that the population aged above 60 years was 1 billion in 2019, which is anticipated to reach 1.4 billion by 2030 and 2.1 billion by 2050. Geriatric population share is predicted to surge from ~15% to ~24% during this period. As per another report, published by Eurostat, it states that Europe had the world's highest percentage (20.8%) of people aged more than 60 years in 2021. In addition, by 2050 (in all regions except Africa), more than 25% of the population will have crossed 60 years. Thus, the surge in the geriatric population has boosted the prevalence of various ENT disorders and diseases, resulting in boosting the ENT devices market size.

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ENT Devices Market: Strategic Insights

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Report Segmentation and Scope:

As per the “ENT devices market analysis”, the market is divided based on product, end user, and geography.

Segmental Analysis:

By product, the ENT devices market is segmented into diagnostic devices, surgical devices, hearing aids, hearing implants, and others. The surgical devices segment held the largest market share in the year 2022. The same segment is expected to record the highest CAGR during 2022–2030. ENT surgical devices include powered surgical instruments, radiofrequency handpieces, handheld instruments, ENT supplies, balloon sinus dilation devices, ear tubes, and voice prosthesis devices. The increasing number of minimally invasive surgeries and technological advancements in surgical ENT devices are among the factors that will likely bring ENT devices market trends in the coming years.

By End users, the report is segmented into ENT clinics, hospital and ambulatory centers, and others. In 2022, the hospitals and ambulatory centers segment held the largest ENT devices market share of the market and is projected to record the highest CAGR during 2022–2030. The hospital and ambulatory centers segment is projected to dominate the market due to the growing number of ENT surgeries in ambulatory centers and outpatient facilities of hospitals. Hospitals are complex organizations that provide healthcare services such as disease screening, diagnosis, and treatment with the help of modernized equipment. The increasing number of admissions in hospitals, coupled with a high prevalence of ENT diseases and disorders, fuels the growth of the ENT devices market for the hospital segment.

Regional Analysis:

Geographically, the ENT devices market report is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest share in 2022. The market growth in this region is driven by increasing technological advancements, a rising number of ENT diseases or disorders, growing geriatric population, and several key market players involved in new and existing product developments. In addition, extensive R&D by various pharmaceutical and biotechnology companies and academic & research institutes is expected to stimulate the North America ENT devices market growth. Asia Pacific is predicted to register the highest CAGR during 2022–2030.

The US held the largest ENT devices market share of the in North America region in 2022. The growth of the ENT devices market in the US is mainly driven by increasing incidences of ENT diseases and disorders, product launches, and reimbursement scenarios for ENT devices. According to the data provided by the National Institute on Deafness and Other Communication Disorders, about 30 million people, or 13% of the US population aged 12 years and above, experienced hearing loss in one or both ears in 2021. As per the same source, ~28.8 million people in the US could benefit from the use of hearing aids. The country has a significant presence of leading market players focusing on product development and launches. Therefore, the increasing prevalence of hearing impairment among large populations, new product launches, and availability of OTC products at economical pricing favor the market growth in the US. Whereas the Asia Pacific region is the fastest growing region of all. The growth is attributed to the presence of huge population growth followed by the presence of countries like China, India, and other miscellaneous populous countries.

ENT Devices Market Regional Insights

The regional trends and factors influencing the ENT Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses ENT Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

ENT Devices Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The ENT Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the ENT Devices Market are:

1. Innovia Medical
2. Sony Electronics
3. Cochlear Limited
4. Karl Storz SE & Co. KG
5. Medtronic PLC

Disclaimer: The companies listed above are not ranked in any particular order.

Industry Developments and Future Opportunities:

A few plans made by key players operating in the ENT Devices Market are listed below:

1. In June 2023, Sonova Holding AG launched Sennheiser All-Day Clear in the US. The introduction of the Sennheiser All-Day Clear family expands the company's branded solutions to people with early-stage hearing loss, ranging from prevention to situational assistance.
2. In May 2022, Medtronic PLC completed the acquisition of Intersect ENT, expanding the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products used in sinus procedures to improve post-operative outcomes and treat nasal polyps. Through this acquisition, Medtronic gains PROPEL and SINUVA, which are unique bioabsorbable, steroid-eluting implants for sinus patients.

Competitive Landscape and Key Companies:

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 are among the prominent companies profiled in the ENT devices market report. These companies focus on geographic expansions and new product launches to meet the growing demand from consumers worldwide and increase their product range in specialty portfolios. Their global presence allows them to serve a large customer base, subsequently facilitating market expansion.