ENT Devices Market To Generate $31,805.3 Million Revenue by 2030

The global ENT devices market is projected to generate $31,805.3 million revenue in 2030, advancing at a CAGR of 6.9% during 2021–2030. The proliferating incidence of hearing disorders and sinusitis, growing preference for minimally invasive procedures in ENT specialty, rising geriatric population, and advancements in technologies of ENT devices are propelling the market growth. Moreover, the rapid urbanization in developing countries leads to an increased demand for ENT devices.

Due to the COVID-19 outbreak, the medical devices was market impacted negatively. The recurring waves of the pandemic might have a damaging impact on the sales of ENT devices. However, considering the record sales of various ENT devices in non-peak stages in 2021 and the significant rate of recovery in economic activities, the market is expected to increase in the coming years.

The introduction of customizable implants designed specifically for each patient, in order to correct defects, is the major trend witnessed in the global market. ENT devices are those medical devices, which help in the diagnosis, treatment, and surgery of diseases associated with the ear, nose, and throat. These devices help in improving the hearing, smelling, and speaking capabilities of patients, by boosting the functioning of the ear, nose, and throat of the patients.

Hearing Aids Are the Fastest-Growing Product Type in the Market

The demand for hearing aids is expected to witness the fastest growth during the forecast period, advancing at a CAGR of 7.6%. This can be mainly due to the rise in adoption of these systems, entry of several players, technology integration in hearing aids, and surge in investment in R&D activities.

Moreover, the ENT clinics category is expected to witness the fastest growth in the upcoming years, based on end user. This can be mainly because ENT clinics provide treatment facilities for ENT disorders at a low cost, with the use of advanced technology products for screening, diagnostic, and treatment.

Geographically, North America held the largest share in the ENT devices market in 2021. This is because people are more concerned about their medical conditions, advancements in technologies of the healthcare sector, favorable remunerate landscape, and the presence of emerging and global medical device companies in the region.

Mergers and Acquisitions Are Most-Effective Strategic Measures

Key players offering ENT devices have been extensively involved in mergers and acquisitions to gain competitive advantages in the market. For instance:

In March 2021, Boston Scientific Corporation signed an agreement to acquire the surgical business of Lumenis Be Ltd., a medical device company. Through this agreement, the company offers premier fibers, laser systems, and accessories used for otolaryngology and urology procedures.

In November 2020, Coloplast A/S signed an agreement to acquire Atos Medical AB from PAI Partners. Through this acquisition, Coloplast accesses chronic care facilities operating on shared infrastructure.

Key players in the ENT devices market include Karl Storz Gmbh & Co. KG, Smith & Nephew plc, Medtronic plc, Widex A/S, Stryker Corporation, WS Audiology A/S, Olympus Corporation, Smith & Nephew plc, Hoya Corporation, Sonova Holding AG, Cochlear Limited, and Siemens Healthcare.