ENT Devices Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Major companies in the ENT devices market include Sonova Holdings AG; William Demant Holdings A/S; Medtronic plc; KARLSTORZ GmbH & Co and Stryker Corporation. The global ent devices market is expected to grow from $12.

New York, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "ENT Devices Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06027751/?utm_source=GNW
49 billion in 2020 to $14.4 billion in 2021 at a compound annual growth rate (CAGR) of 15.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.24 billion in 2025 at a CAGR of 6%.

The ENT devices market consists of sales of ENT devices and related services by entities (organizations, sole traders and partnerships) that produce ENT devices used in diagnosis and treatment of ear, nose and throat diseases. This market is segmented into hearing aid devices and equipment; hearing diagnostic devices and equipment; ENT surgical devices and equipment; hearing implants; voice prosthesis devices and equipment; nasal splints.

North America was the largest region in the global ent devices market, accounting for 33% of the market in 2020.Asia Pacific was the second largest region accounting for 31% of the global ent devices market.

Africa was the smallest region in the global ent devices market.

ENT device manufacturers are investing in technologies to develop user friendly and non-invasive equipment.They are continuously investing funds and resources into R&D to increase the scope of their devices.

For instance, Intersect ENT developed Propel Mometasone Furoate Implant (PMFI) to treat chronic sinusitis.It is a bio-absorbable steroid which is placed directly into the sinus mucosa.

It controls the release of drugs and dissolves over time.In another breakthrough in sinusitis treatment, SinuSys Corporation received FDA approval for its Vent-Os Sinus Dilation device.

It is a small, low-pressure insert that is designed to gently open the sinus ostia and use the body’s natural mucosal fluids to expand the device.

Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period; this is expected to limit new investments in the market.Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country.

This is likely to affect new investments in terms of expansion, research and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the market growth.

Many governments across the world have introduced new healthcare acts and continuously increased health care spending.Healthcare coverage and expenditure also increased significantly.

In 2018, Indian government launched a new national health protection program which provided a health coverage of up to Rs 5 lakh ($7,100) per family for secondary and tertiary care hospitalization. The healthcare services market in the UK increased from $289 billion in 2016 to $300.8 billion in 2019. Favorable government decisions and increased healthcare spending increased the demand for healthcare services and this drove the demand for ENT devices during this period.
Read the full report: https://www.reportlinker.com/p06027751/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001