ENT Devices Market Analysis

ENT Devices Market Analysis

Based on product, ENT devices market size from hearing aids segment recorded a valuation of over USD 7.3 billion in 2022. Growing occurrence of hearing disabilities has proliferated the demand for hearing aids globally. In fact, as per the WHO, an estimated 2.5 billion people across the globe are likely to suffer from some degree of hearing loss by 2050, with at least 700 million people needing hearing rehabilitation. Additionally, segment expansion can also be attributed to growing focus of industry players on R&D activities to bring forth innovations in hearing aids.
 

In terms of end-use, ENT devices market share from hospitals segment was valued at over USD 13.5 billion in 2022. Better availability of expert surgeons who can perform complex and even sensitive diagnostic procedures ensures higher patient footfall in hospitals. These facilities also have a wide range of cutting-edge ENT equipment that give medical practitioners a high level of precision during operation and diagnostic procedures, which further sways patient preference.
 

Growing efforts by world governments to strengthen their hospital infrastructure are further creating a notable impetus for segment expansion. Back in October 2022, the U.S. government announced an investment of over USD 110 million for supporting rural hospitals.
 

North America ENT devices market is expected to record a valuation of over USD 12.5 billion by 2032. Surging incidence of nasal, throat, and hearing disorders in the region has spurred the demand for ENT devices. As per the National Institute on Deafness and Other Communication Disorders, nearly two to three children out of 1,000 are born with detectable hearing loss in one or both ears in the U.S. alone.
 

Regional expansion can also be attributed to favorable government initiatives for hearing aids in the U.S. For instance, back in August 2022, the U.S. FDA rolled out a new regulatory framework to increase access to low-cost OTC hearing aids in the country.