Press release
Global ENT Devices Market Comprehensive Study: Forecasted Market Size And Growth Rate | Sonova Holdings AG, Demant A/S, Medtronic plc, GN Store Nord A/S, Cochlear Limited, Olympus Corporation, Stryker Corporation, Karl Storz SE & Co. KG, Merck & Co. Inc.
ENT Devices Market Size
The Business Research Company offers in-depth market insights through ENT Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ent devices market size has grown strongly in recent years. It will grow from $32.89 billion in 2023 to $35.81 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to aging population, chronic conditions, healthcare reimbursement, diagnostic advancements.
The ent devices market size is expected to see strong growth in the next few years. It will grow to $49.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to telemedicine and remote consultations, personalized medicine, value-based care, emerging markets growth, artificial intelligence (AI) integration. Major trends in the forecast period include minimally invasive procedures, remote monitoring and telehealth, 3D printing of urological implants, tele-audiology, smart hearing protection.
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Market Segmentation:
The main types of ENT devices are hearing aid devices and equipment, hearing diagnostic devices and equipment, ENT surgical devices and equipment, hearing implants, voice prosthesis devices and equipment, and nasal splints. A hearing aid device is an electronic device that is worn in or behind the ear. It makes sounds louder so that a person with hearing loss can listen, communicate, and participate fully in daily activities. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The various end-users are hospitals and clinics, diagnostic laboratories, and others.
Major Driver - Surge In Prevalence Of Ent Disorders Sparks Growth In Ent Devices Market
The increasing prevalence of ENT disorders is expected to propel the growth of the ENT device market. ENT is an acronym for the medical specialties involving the ears, nose, and throat, encompassing a broad spectrum of medical conditions impacting these regions of the body. ENT equipment is employed for the purpose of diagnosing, monitoring, and addressing these health issues. In February 2023, according to an article published by the World Health Organization, a Switzerland-based public health organization, a total of 430 million people, or more than 5% of the world's population (432 million adults and 34 million children), will need rehabilitation for their incapacitating hearing loss. Moreover, over 700 million individuals are predicted to have hearing loss by the year 2050. Therefore, the increasing prevalence of ENT disorders will fuel the growth of the ENT device market going forward.
Competitive Landscape:
Major companies operating in the ent devices market include Sonova Holdings AG, Demant A/S, Medtronic plc, GN Store Nord A/S, Cochlear Limited, Olympus Corporation, Stryker Corporation, Karl Storz SE & Co. KG, Merck & Co. Inc., Smith & Nephew plc, Richard Wolf GmbH, Cook Group Incorporated, Grace Medical Inc., Intersect ENT Inc., Lumenis Ltd., Merz Pharma GmbH & Co KGaA, Atos Medical AB, Oticon Medical AB, Siemens Healthcare GmbH, ArthroCare Corporation, Xoran Technologies LLC, Zhejiang Tiansong Medical Instrument Co. Ltd., Acclarent Inc., Meril Life Sciences Pvt. Ltd., SinuSys Corporation, Audina Hearing Instruments Inc., Ambu A/S, Nupur Technologies, 3NT Medical, Welch Allyn Inc., Otopront Medizintechnik GmbH.
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Top Trend - AI-Powered Navigation Technology For Enhanced ENT Procedures
Major companies operating in the ENT devices market are innovating new technology, such as TruDi, to increase their profitability in the market. TruDi is an ENT navigation system designed to provide reliable and efficient image-guided preoperative planning and navigation for ENT procedures. For instance, in January 2022, Acclarent Inc., a US-based subsidiary of Johnson & Johnson Medical Devices Companies, launched its first-ever AI-powered ENT technology called TruDi. The software bundle includes TruSeg and TruPath, designed for utilization with the TruDi Navigation System. It harnesses a machine learning algorithm to offer dependable and effective image-guided preoperative planning and navigation for ear, nose, and throat (ENT) procedures, such as endoscopic sinus surgery. The TruDi Navigation System itself is an innovative single-use electromagnetically guided blade tailored for ENT procedures.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. ENT Devices Market Characteristics
3. ENT Devices Market Trends And Strategies
4. ENT Devices Market - Macro Economic Scenario
5. ENT Devices Market Size And Growth
…..
27. ENT Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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