The ENT surgical device market is expected to reach US$ 4.8 Bn by 2031, registering a CAGR of nearly 7%, according to a recently published report by Fact.MR. As the incidence of ENT infections and surgical procedures increase, demand is likely to embark on a positive trajectory in forthcoming years.
Historically, between 2016 and 2020, global sales expanded to the tune of 6% in value CAGR terms, realizing a value of US$ 2.5 Bn by the end of the aforementioned period. As medical advancements increased during the industrial revolution, the market for ENT surgical devices also expanded. The growing number of ENT disorders in an aging population will increase the market demand for ENT surgical equipment.
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ENT Surgical Devices Market Insights Segmentation
- Product Type
- ENT Surgical Laser Devices
- ENT Surgical Hand Instruments
- Powered ENT Surgical System Devices
- Radiofrequency ENT Electrosurgical Devices
- ENT Surgery Workstations
- ENT Surgical Navigation Systems
- ENT Visualization Systems
- ENT Surgical Microscopes
- End User
- ENT Surgical Devices for Hospitals
- ENT Surgical Devices for Ambulatory Surgical Centers
- ENT Surgical Devices for ENT Clinics
- Hand-held ENT Surgical Devices
- Portable ENT Surgical Devices
- Fixed ENT Surgical Devices
Key Takeaways from the Market Study
- Global market for ENT surgical devices to add nearly 2x value by 2031
- By product, ENT surgical visualization systems to exceed a revenue share worth 40%
- Based on modality, fixed ENT surgical devices to capture over 2/5th of global revenue
- By end user, hospitals to account for over US$ 3 Bn in revenue sales of ENT surgical devices
- Ambulatory surgical centers to emerge as important end users, growing at 5% CAGR
- Sales in the U.S are projected to expand at a robust 7% CAGR through 2031
- India and China to emerge as dominant Asian market, yielding over 60% of revenue
“Increasing demand for laser procedures and cosmetic surgery such as rhinoplasty and otoplasty will drive the demand for highly equipped healthcare infrastructures, which will drive further demand for ENT surgical equipment in the healthcare industry,” says Fact.MR analyst.
Revenue and market share can be increased by ENT surgical devices through strategic collaborations. Innovative technologies and equipment allow manufacturers to grow into new markets.
- In October 2020, Intersect ENT completed the purchase of electromagnetic surgical navigation solutions manufacturers Fiagon AG Medical Technologies. In accordance with the agreement, valued at € 30 Mn spread over three years. Fiagon’s acquisition will enable the company to provide innovative products to its customers, including balloons, navigation, and localized drug delivery.
- In addition to managing routine and complex ENT procedures, Intersect ENT is expected to benefit from this acquisition. Through this partnership, the company can serve the expanding market for ENT surgeries and office-based procedures better.