According to the latest market report published by Credence Research, Inc. “ENT Devices Market – Growth, Future Prospects, and Competitive Analysis, 2015 – 2025” the global ENT devices market was valued at US$ 10.97 Bn in 2016, and is expected to reach US$ 18.87 Bn by 2025, expanding at a CAGR of 6.1% from 2017 to 2025.
ENT device market will grow significantly during the forecast period due to growing number of geriatric population, favorable reimbursement scenario for ENT procedures in developed countries and increasing adoption of minimally invasive ENT procedures. For the purpose of the study ENT devices market is segmented on the basis of product type such as diagnostic devices, surgical ENT devices, hearing aid devices, hearing implants, nasal splints and voice prosthesis devices. It is studied that, currently hearing aid devices is major revenue contributor due to increase in the prevalence of hearing disability, hearing loss and technological advances in hearing aids devices. Diagnostic devices will show lucrative market growth during the forecast period due to rising number of the target population, developing new technology, rising treatment awareness, and growing healthcare infrastructure.
Browse the full report ENT Devices Market – Growth, Future Prospects, and Competitive Analysis, 2016 – 2024 at http://www.credenceresearch.com/report/ent-devices-market
In the base year 2016, North America dominated ENT devices market in terms of revenue and growth was primarily driven by the United States. Factors such as higher number of geriatric population, higher healthcare awareness, the upsurge in funding by government agencies and private organizations in the healthcare system, continues technological advancement for the development of novel ENT devices are driving the market growth in North America. On the other hand, Asia Pacific will show fastest market growth during the forecast period due to rising incidence of ENT problems, growing partnership of key players with a local manufacturer and growing healthcare infrastructure.
Market Competition Assessment:
The ENT Devices market is observed to be highly competitive and comprises a large number of players. However, the market is currently dominated by few players such as Acclarent, Inc., Atos Medical AB, Cochlear Limited, GN ReSound A/S, Hoya Corporation, KARL STORZ GmbH & Co., Medtronic plc., Olympus Corporation, Rion Co. Ltd., Smith & Nephew plc., Sonova Holdings AG, Stryker Corporation, Widex A/S, William Demant Holdings A/S and others.
Key Market Movements:
- Factors such as increasing number of geriatric population, rising number of problem associated with ENT, rising healthcare expenditure, increase in presence of prominent players in the ENT devices market is driving the market growth of ENT devices market globally.
- Rising adoption of minimally invasive surgeries over traditional surgical procedure would drive the ENT devices market during the forecast period.
- However, higher cost of devices and inadequate reimbursement policies in some developing countries are negatively impacting the growth of ENT devices market.
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist works straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Name: Chris Smith
Designation: Global Sales Manager