Ent Devices Market Is Projected To Reach $23.01 Billion By 2022: Grand View Research, Inc.
Global ENT devices market is expected to reach USD 23.01
billion by 2022, according to a new study by Grand View Research, Inc. Growing
base of geriatric population, increasing prevalence of ear, nose, and throat
related traumas and infections, and rising level of awareness among target
customer base are expected serve this market as high impact rendering drivers
over the forecast period. According to estimates published by the WHO, 15% of
adult population and 33% of geriatric population globally suffer from hearing
disorders. Moreover, 13,560 new cases are estimated to be registered in 2015
according to the National Cancer Institute. Technological advancements and the
use of user-friendly materials in product development are expected to further
boost the growth of this ENT devices industry. For instance, the use of
thermoplastic material for the development of custom/cut size external nasal
splints is likely to gain penetration over the next seven years.
Valued at over 5.0 billion,
hearing aids were the largest product segment of the market in 2014. Growing
target population, considerably high market usage, and high accessibility are
amongst some key factors accounting for its large market share. On the other
hand, hearing implants and voice prosthesis are expected to witness rapid
growth over the forecast period owing to the introduction of technological
advancements aimed to increase patient compliance and overcome social stigmas.
U.S. ENT devices market, by
product, 2012 - 2022 (USD Million)
Browse full research report on
Ent
Devices Market
Further key findings from
the report suggest:
- Cochlear
implant was also one of the largest product segments in 2014. The
introduction of customizable implants is expected to drive segment growth
over the forecast period. Introduction of technological advancements such
as microchip technology is also likely to boost usage rates.
- North America
dominated the overall market in terms of revenue share in 2014 at over
35%, majorly due to the presence of favorable government initiatives,
sophisticated healthcare infrastructure, and user awareness levels
- The Asia
Pacific ENT devices market is expected to witness rapid growth due to,
rapidly improving healthcare infrastructure, presence of favorable
government policies, clinical advancements in product development and
rising healthcare expenditure levels
- Key players
of this industry are revising product line by introducing novel
technologies such as Soundbridge by MED-EL and HiQ+ series of bipolar
endoscopes by Olympus medical systems. Some key players operating in this
market include GN ReSound A/S, Sonova Holding AG, Starkey Laboratories
Inc., Cochlear Limited, William Demant Holding A/S, Siemens Healthcare,
Widex A/S, Rion Co., Ltd., Welch Allyn, and Atos Medical AB.
For
more information: http://www.grandviewresearch.com
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