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Otorhinolaryngology Devices Overview
Otorhinolaryngology is the medical discipline involving the assessment, diagnosis, treatment, and management of diseases, abnormalities, and other health problems affecting the ears, nose, and throat (ENT), as well as the head and neck, mouth, sinus, and voice box (larynx). It is considered as one of the oldest medical practices in the U.S. Aside from medical management, the specialists are also trained to perform surgeries for the aforementioned body parts, along with plastic and reconstructive surgeries.
The otorhinolaryngology devices market on the basis of type is categorized into the diagnostics device, surgical device, hearing device, and others. Among these, the hearing devices are expected to account for the significant share in the market during the forecast period (2020–2030). This can be attributed to the high prevalence of hearing loss, hearing problems in geriatric population, rising number of product approvals, and technological advancements.
Hospital, ambulatory surgical center, and others are the end users of the otorhinolaryngology devices market. Among all, the ambulatory surgical center category is expected to grow fastest during the forecast period. This can be mainly due to the minimally invasive surgical procedures performed globally and the introduction of the technologically advanced products.
North America is expected to dominate the otorhinolaryngology devices market during the forecast period owing to the factors such as growing preference for minimally invasive ENT surgeries, growing geriatric population, rising incidence of hearing loss and disorders, increasing focus of market players in the region, and less-stringent regulatory guidelines.
Otorhinolaryngology Devices Market Dynamics
The otorhinolaryngology devices market is being driven by increasing prevalence of ENT-related disorders and growing preference for minimally invasive procedures. For instance, according to National Health Interview Survey in the U.S., around 16% of the U.S. adults had hearing loss during 2014–2016. Hence, increasing prevalence of ENT diseases is expected to boost the market in the coming years. However, the high cost and lack of proper reimbursement policy for hearing aids are restraining the growth in the market.
Otorhinolaryngology Devices Market Competitive Landscape
Some of the key players in the global otorhinolaryngology devices market are involved in adopting several strategies, such as mergers and acquisitions and partnerships, to strengthen their position among competitors.
The key otorhinolaryngology devices market players include Medtronic plc., Olympus Corporation, Karl Storz SE & Co. KG, Stryker Corporation, Smith & Nephew plc., Hoya Corporation, Acclarent Inc. (a Johnson & Johnson Company), Sonova Holdings AG, Demant A/S, and Cochlear Limited.
The major countries taken into consideration for market size analysis include the U.S., Canada, France, Germany, the U.K., Italy, Spain, Russia, the Netherlands, Japan, China, India, Australia, Brazil, Mexico, Argentina, Saudi Arabia, the U.A.E., and South Africa.