ENT Device Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product Type (Diagnostic Devices, Surgical Devices, hearing Aids, Visualization Devices); End-Users (Hospitals, ENT Clinics, Ambulatory Clinics); Region/Country
The ENT devices market is expected to register a CAGR of around 7% over the period of 2021-2027. ENT refers to the eyes, nose, and throat. An ENT specialist`s process is to diagnose and deal with any disease, contamination, or any soreness referring to those human frame parts. The merchandise of the ENT gadgets marketplace is applied extensively for extraordinary purposes. but at times, those impairments require surgeries. The growing adoption of ENT devices can be attributed to the rising prevalence of various ENT-related disorders coupled with a rapidly growing geriatric population. According to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice that it was in 1980 at 382 million. The number of elderly people is expected to double again by 2050 and reach nearly 2.1 billion worldwide. Furthermore, the ENT devices market is anticipated to grow on account of the growing technological advancement, a large number of ongoing research activities in this field, and favorable reimbursements for ENT procedures.
Moreover, the growing burden of ENT-related disorders is facilitating the ENT devices market growth across the globe. For instance, as per National Health Mission, In India, the estimated significant auditory impairment reaches up to 6.3% prevalence (moderate to a severe hearing loss) out of the total population of 1.25 billion.
Karl Storz Gmbh & co. KG, Medtronic plc, Stryker Corporation, Smith & Nephew plc, Olympus Corporation, Acclarent, inc., Cochlear Limited, Hoya Corporation, GN Store Nord, and Welch Allyn are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Product Type, the hearing aids category accounted for the majority share in the market in 2020”
Based on product type, the market is classified into diagnostic devices, surgical devices, hearing aids, and visualization devices. Amongst product types, the hearing aids category accounted for a significant share of the market. This is mainly due to the increasing adoption of these devices, high prevalence of hearing loss, the rapidly growing elderly population, and technological advancements due to an increase in investment by market players in R&D.
“Among End-Users, the hospitals is expected to witness highest CAGR during the forecast period”
Based on end-users, the market is categorized into hospitals, ENT clinics, and ambulatory clinics. Among these, the hospitals are expected to witness the highest CAGR during the forecast period. The increasing rise in disposable income and increasing affordability for ENT treatment, high prevalence of hearing loss, and presence of large hospital chains are the major driving factors for this market.
“North America to witness significant growth during the forecast period”
For a better understanding of the market dynamics of the ENT devices market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the ENT devices market industry and generated major revenue in 2020 owing to strong healthcare infrastructure and growing adoption of ENT devices in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
Global ENT devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global ENT devices market were the three major steps undertaken to create and analyze the adoption of ENT devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ENT devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
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Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the ENT devices market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the ENT devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product type and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the ENT devices market. Further, we conducted factor analysis using dependent and independent variables such as various product type and end-users of ENT devices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the ENT devices market sector across the globe.
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Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global ENT devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of ENT devices market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global ENT devices market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
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Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global ENT devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type and end-users in the global ENT devices market.
The main objective of the Global ENT devices Market Study
The current & future market trends of global ENT devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of ENT devices market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type and end-users.
- Define and analysis of the regulatory framework for the ENT devices market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the ENT devices market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the ENT devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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