ENT Devices Market Anticipated to Grow at a Significant Pace By 2030

The global ENT devices market size is expected to reach USD 35.9 billion by 2030, expanding at a CAGR of 5.74% from 2023 to 2030, based on a new report by Grand View Research, Inc. The market growth can be attributed to factors such as a growing geriatric population, high prevalence of hearing loss, and increasing penetration of minimally invasive surgeries. Furthermore, technological advancements in this field, an increase in healthcare investment for early detection of diseases, and favorable regulatory policies are other factors expected to drive the market.

Furthermore, with age, the risk of poor immunity increases, which makes older people more vulnerable to disorders of the nose and throat. In order to address this issue, elderly people need ENT devices. This is expected to increase the demand for ENT devices. According to the Action on Hearing Loss Information, 1 out of every 6 people or over 11 million people in the U.K. suffered from hearing loss. Out of these, 8 million people were in the 65 & above age group, and 900,000 people suffered from severe or profound deafness.

Loss of hearing is the third-most common chronic physical condition in adults after high blood pressure and arthritis. Hearing loss affects people of all ages and is particularly prevalent in those over 65 years, with 1 in 3 people over 65 suffering from a disabling hearing loss. It disturbs communication and can result in depression, anxiety, social isolation, and cognitive decline. For instance, according to the National Center for Health Statistics (NCHS), 15% of the total U.S. population over 18 lives with some type of hearing impairment. Men are more likely to be affected than women (18.4% vs. 12.4%).

Additionally, the outbreak of the COVID-19 pandemic, which led to the implementation of travel restrictions in most markets, has hit the industry as a whole. The majority of ENT device users are elderly people who are advised to stay home to avoid the risk of infection. Many healthcare providers have decided to postpone all non-essential surgeries, impacting the ENT device industry.

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ENT Devices Market Report Highlights

By product, surgical ENT devices accounted for the largest share in 2022. Hearing implants are expected to grow at a rapid rate during the forecast period

North America held the largest share in 2021 and is expected to maintain its dominance during the forecast period. This can be attributed to factors such as increased demand for hearing care devices, the presence of large hospital chains, highly equipped ambulatory facilities, and a significant target population

Asia Pacific is expected to witness significant growth during the forecast period due to increased medical spending and investment by market players

Mergers and collaborations and product development are the key strategies being undertaken by the market players. For instance, in March 2019, Widex and Sivantos announced the completion of the merger. The newly created company will operate under the name WS Audiology and be headquartered in Lynge, Denmark, and Singapore

Access Press Release @ https://www.grandviewresearch.com/press-release/global-ent-devices-market

ENT Devices Market Segmentation

Grand View Research has segmented the global ENT devices market on the basis of product and region:

ENT Devices Product Outlook (Revenue, USD Million, 2017 - 2028)

Diagnostic ENT Devices

Rigid Endoscopes

Sinuscopes

Otoscopes

Laryngoscopes

Flexible Endoscopes

Bronchoscopes

Laryngoscopes

Nasopharyngoscopes

Robot Assisted Endoscope

Hearing Screening Device

Surgical ENT Devices

Radiofrequency handpieces

Otological Drill Burrs

ENT Hand Instruments

Sinus Dilation Devices

Nasal Packing Devices

Hearing Aids

Hearing Implants

Nasal Splints

ENT Devices Regional Outlook (Revenue, USD Million, 2017 - 2028)

North America

U.S.

Canada

Europe

U.K.

Germany

France

Italy

Spain

Asia Pacific

China

Japan

India

Latin America

Brazil

Mexico

Middle East & Africa (MEA)

South Africa

List of Key Players of ENT Devices Market

Demant A/S

Sonova

GN Store Nord A/S

Ambu A/S

Pentax Medical

Karl Storz

Olympus Corporation

Richard Wolf GmbH

Cochlear Ltd.

Starkey Laboratories, Inc.

Rion Co., Ltd.

Stryker

Smith & Nephew

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.