ENT(Ear, Nose, Throat) Devices Market Size By Product [Diagnostic (Rigid Endoscopes,Flexible Endoscopes, Robot assisted Endoscope, Hearing screening devices), Surgical (Radiofrequency handpieces, Powered surgical instrument,Otological Drill Burs, Tympanostomy tubes, Sinus Dilation devices, Nasal Packing devices), Hearing Implants (Auditory Brainstream, Cochlear implant, Middle Ear implant, Bone anchored system), Voice Prosthesis Device, Nasal Splints (Internal, External)], Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Japan, India, China, South Africa, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: June 2016 | 153 Pages | Report ID: GMI496 Report Format: PDF
(Ear, Nose, Throat) ENT Devices Market size was USD 16.7 billion in 2015, with 5% CAGR growth anticipated by the industry throughout 2016 to 2023.
U.S. ENT Devices Market Size, By Product, 2012 - 2023 (USD Million)
Growing prevalence of ear, nose, and throat related disorders, coupled with rising geriatric population ratio will be driving global (ear, nose, and throat) ENT devices market trends throughout the forecast period.
The prevalence of hearing loss has been rising over the years owing to increasing noise pollution levels, along with aging population. Age acts as a major risk factor for acquiring hearing loss defect. As reported by WHO, close to 15% of the global adult population (15 to 64 years) and 33% of geriatric population (above the age of 65 years); suffer from some kind of hearing loss.
Large prevalence rates are observed in emerging regions. In 2012, approximately 89.0% of the total prevalence belonged to emerging and underdeveloped markets where medical needs are unmet.
The disease burden costs for larynx and oropharyngeal cancer is increasing globally, especially in the developing economies. According to the estimates, by National Cancer Institute around 88,852 cases of larynx cancer were noted in 2012. According to survey conducted by American Cancer Society, around 15,520 new pharynx cases are estimated to occur in 2015 with 3,140 cases in women and 12,380 cases in men. Such rising prevalence of cancer, and commonly occurring throat disorders should boost the demand for various diagnostic and surgical devices.
Growing population under geriatric segment will positively stimulate the ENT devices market size. According to the WHO statistics, geriatric population (65 years and above) is set to grow to over 16% by 2050. Since aging is considered as a critical factor inducing deafness and other hearing loss disorders, this phenomenon will drive industry demand in the coming seven years.
In addition, increasing age leads to a considerable decrease in immunity levels making the geriatric population prone to ear, nose, and throat infections such as inflammation of inner mucosal lining. Co morbid medications for cardiovascular and chronic diseases in older people are also expected to increase the risk for nasal disorders. Nasal reconstruction surgery is also gaining importance in developing countries to inhibit the effects of aging on the respiratory system.
The advent of new technology in terms of ease of use for patient, and availability of miniature size devices is set to increase the demand. Major players are offering hearing aids that can be embedded deep in the ear, such that they are visually hidden, increasing the cosmetic appeal for patients. Medtronic Inc. has developed new range of powered surgical devices, otological drills and burrs, and manual ENT instruments, which are technologically more advanced, time-saving, and accurate in nature. Increasing use of advanced laser and radiofrequency technology during surgical and diagnostic procedures is expected to drive ENT devices market size.
(Ear, Nose, Throat) ENT Devices Market, By Product
Diagnostic ear, nose, and throat devices seized the largest global ENT devices market share, with sales exceeding USD 5.2 billion by 2023. The largest share can be attributed to the rising prevalence of hearing loss, and throat disorders, coupled with increasing aging population using diagnostic devices.
The ear, nose, and throat diagnostics market was predominantly driven robot assisted endoscope, followed by flexible endoscopes. The technology driven robot assisted endoscope market is set to reach USD 2 billion by 2023.
Radiofrequency hand piece devices were pegged at USD 895.7 million in 2015 dominated the global surgical ear, nose, and throat devices market, while the hearing implants market was driven by cochlear implants in 2015.
Hearing implants market is expected to grow at a relatively higher CAGR of 7.2%. This high growth can be attributed to growing aging population, and increasing occupational hearing losses. Frequent introduction of novel implants is the also one of the pivotal factors expected to aid the growth.
(Ear, Nose, Throat) ENT Devices Market, By Region
North America took up the largest regional ENT devices market size, valued at USD 6.2 billion in 2015, growing prevalence of hearing impairment in North America is one of the most significant driving factors. In addition, there is a growing prevalence of deafness in geriatric population. About 20% of the geriatric population over age 60 suffers from hearing damage and the number increases to 40% over 75 years of age.
Hearing loss is one of the most common congenital disorders in the U.S. As per the National Institute on Deafness and Other Communication Disorders (NIDCD), around 36 million (17%) American adults suffer from some degree of hearing loss.
Increase in government initiatives has led to growth in demand for hearing aids devices across Asia Pacific, which is slated to register a 6.5% CAGR through to 2023. Moreover, increasing prevalence of deafness, especially in geriatric population coupled with entry of global players in the market by expanding their distribution network is expected to drive growth.
UK, France and Germany ENT devices market share dominates the European industry, with more than 58% sales in 2015. LATAM, driven by Brazil and MEA are relatively nascent industries which should see steady growth over the next 6 years.
Competitive Market Share
Global ENT devices market share is competitive, garnered by the presence of major players for each product segment. The market players focus on extensive research and development aimed at developing technologically advanced products. The players compete on the basis of limited product differentiation options, and pricing.
The major players in the market include Olympus Medical System, Smith and Nephew, Medtronics, Inc., William Demant, Siemens Healthcare, Cochlear Inc., Atos Medical, and Invotec Medical Inc. among others.
(Ear, Nose, Throat) ENT Devices Industry Background
Global ENT surgical devices market is highly influenced by overall medical devices industry. The industry is majorly driven by innovation, and new technologies. The development of state-of –art medical devices has revolutionalized the overall healthcare industry. Moreover, growth is catalyzed by demand generated due to disorders associated with the aging global population.
The industry is strongly governed by regulatory and reimbursement policies, which have major impact on growth. The manufacturers are required to display a high level of cost-effectiveness for their products due to stringent reimbursement and regulatory policies.
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