ENT Surgical Device Market Is Expected To Reach US$ 4.8 Billion By 2031

Healthcare

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.

As technological advancements acquire precedence, manufacturers are increasingly focusing on incorporating such advances including robotics, minimally invasive surgical devices and AI-enabled diagnostic and treatment interfaces. As per Fact.MR’s report, prominent players Medtronic Plc. and Olympus Corporation are expected to remain Tier-1 companies, accounting for nearly 60% of total market sales.

Request For Sample

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.

Competitive Landscape

Strategic collaborations enable ENT surgical devices to increase revenue and market share. Introducing new equipment and technologies allows manufacturers to expand their market reach.

  • Medtronic plc, a global leader in healthcare technology, announced an agreement with Intersect ENT, a global medical device leader committed to improving patient care through acquiring Intersect ENT for $28.25 per share, valuing the company at approximately $1.1 billion.
  • On July 6th, 2021, as part of its expansion into robotic surgery, Explorer Surgical expanded its cloud-based digital platform. This platform provides digital playbooks customized to each individual surgeon’s role, procedure type, company preferences, and images, PDFs, and videos about techniques and the system utilized.

 

Leave a Reply

Related Posts