Rising frequency of hearing loss & throat disorders to drive (ear, nose, throat) ENT devices market growth
Global (Ear, Nose, Throat) ENT Devices Market size was evaluated at $16.71 billion for 2015 and is predicted to register CAGR of 5% during forecast timeframe. Rising occurrence of ear, nose and throat related disorders along with growing old age population is predicted to promote (ear, nose, throat) ENT devices market trends during forecast timeline.
Occurrence of hearing impairment has been growing since last few years due to rising noise pollution. Age also acts as a key aspect for acquiring hearing loss and there is growing occurrence of deafness in old people. About 20.1% of aging population above age of 60 years suffer hearing loss and percentage grows to about 40.1% for people who have crossed 75 years of age. The reason for the deafness in old people can be attributed to their low immunity levels making their ear, nose & throat prone to infections like inner mucosal lining inflammation.
Large rate of occurrence of hearing problems were observed in developing nations. In 2012, about 89.1% of the total hearing problems occurred in developing regions where medical requirements were not fulfilled.
The costs of the ailments like oropharyngeal cancer and larynx cancer is growing globally, particularly in emerging economies. Growing occurrence of cancer and frequently occurring throat ailments are predicted to propel the industry growth.
Introduction of new technologies that can be easily used by patients and accessibility of tiny sized equipments is predicted to increase the demand for ENT devices. Further, growing use of modern laser & radiofrequency technique during surgery & diagnostic processes is predicted to drive (ear, nose, throat) ENT devices market size.
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ENT (ear, nose and throat) diagnostic devices segment dominated the industry share with revenue surpassing $5.2 billion by end of forecast period. The growth is attributed to factors like increasing frequency of hearing loss & throat disorders along with rising old age population which use diagnostic devices.
This segment was mainly driven by robot assisted endoscope followed by flexible endoscope. Robot assisted endoscope sub segment is predicted to touch $2 billion by forecast period.
Radiofrequency hand piece equipments segment was evaluated at $895.71 million for 2015 and led the industry whereas hearing implants segment was driven by cochlear implants for 2015.
Hearing implants segment is predicted to register a CAGR of 7.2% which is comparatively higher. This expansion can be credited to factors like rising old age population and hearing losses occurring due to type of work. Continuous launching of new implants is also one of the aspects predicted to promote the growth of the segment.
North America dominated the industry and was evaluated at $6.2 billion for 2015. Rising occurrence of hearing loss is one of the key factors driving the growth of the industry in North America.
Rise in government initiatives has resulted in increase in demand for hearing aids instruments in APAC which is predicted to register CAGR of 6.5% by end of 2023. Further, growing occurrence of hearing problems, particularly in aging population along with entry of multinational companies is predicted to drive the industry growth in the region.
UK, France and Germany led the European industry by contributing greater than 58.1% to the total sales for 2015. Latin America and Middle East & Africa are the regions predicted to witness moderate industry growth in future.
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Key industry players profiled in the report include Cochlear Limited, Rion Company Limited, Smith and Nephew, Sonova Holding AG, Welch Allyn, William Demant Holding A/S, Olympus Medical System, Atos Medical AB, GN ReSound A/S, Siemens Healthcare, Medtronics Incorporation, Starkey Laboratories Incorporation, Invotec Medical and Widex A/S.
The industry is highly competitive and key industry players concentrate on intensive research & development activities for producing technically modernized products. They compete with each other on available product differentiation options and pricing choices.
Author Name : Dhananjay Punekar