Press release
ENT Devices Market is Expected to Reach USD 17.24 billion by 2023: GN ReSound A/S, RION CO LTD, Widex, Welch Allyn, William Demant, Siemens Healthineers, Sonova, Atos Medical AB, Starkey Laboratories and Cochlear Limited
The ENT Devices Market was worth USD 9.68 billion in 2014 and is expected to reach approximately USD 17.24 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.62% during the forecast period. Increasing populations of elderly people, expanding predominance of ENT related issues, developing government activities are among the key patterns fortifying business sector development. The developing advancements in technology play an essential part in the development of the market. Increasing aged population worldwide is prompting expanded commonness of age-related ailments, for example, decrease in functioning levels of ENT and hearing loss. This, thusly, is anticipated to enlarge the market. Rising dispensable income and well-established healthcare foundation are likewise anticipated to work for the market.
Competitive Insights
The major players in the market are GN ReSound A/S, RION CO LTD, Widex, Welch Allyn, William Demant, Siemens Healthineers, Sonova, Atos Medical AB, Starkey Laboratories and Cochlear Limited. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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Product Outlook and Trend Analysis
Based on product, the market can be divided into surgical devices, diagnostic devices, hearing aids, nasal splints, and hearing implants. In 2015, hearing aids represented the biggest income share in the market. Rising predominance of hearing loss and incapacity is converting into more prominent use of most advanced technology to enable audiologists to better comprehend and treat these diseases. Furthermore, advent of easy to understand and mechanically propelled devices is adding to the development of the fragment.
Regional Outlook and Trend Analysis
North America was the key income supporter in 2015. Rising level of awareness among professionals and patients, well-established healthcare infrastructure, and supportive government activities are a portion of the essential elements supplementing the development of the ENT devices market in the area. Europe is the second biggest area and has high product penetration for hearing aids because of entrenched medicinal services framework and high level of awareness in patients.
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The ENT Devices Market is segmented as follows-
By Product
Hearing Aids
Hearing Implants
Diagnostic Devices
Surgical Devices
Nasal Splints
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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