Major players in the ent surgical devices and equipment market are Carl Zeiss Meditec AG, Stryker, Shanghai Fosun Pharmaceuticals Ltd. , KLS Martin LP, Acclarent, and Inc. The global ent surgical devices and equipment market is expected to grow from $1.
New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "ENT Surgical Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067898/?utm_source=GNW
31 billion in 2020 to $1.47 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. 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 $1.69 billion in 2025 at a CAGR of 3.5%.
The ENT surgical devices and equipment market consists of sales of ENT (ear-nose-throat) surgical devices.ENT surgical devices include balloon sinus dilation devices, powered surgical instruments, ENT supplies, radiofrequency devices, ear tubes, and handheld instruments are used to perform surgical procedures such as tonsillectomy, tracheostomy, implantations, septorhinoplasty, turbinate reduction, mastoidectomy, stapedectomy, and reconstruction surgeries.
Based on the mode of operation, this market is segmented into hand-held devices, portable devices, and fixed devices.
In 2020, Intersect ENT, a USA based ear, nose and throat condition treatment developer, announced to acquire Fiagon for USD 71.1 million. The acquisition was aimed to help Intersect ENT to expand its product portfolio and to extend its geographical reach. Fiagon develops surgical navigation systems that support both routine and complex ENT procedures and is based in Germany.
Increasing demand and adoption of minimally invasive ENT surgeries will drive the ENT surgical devices and equipment market in the future.For example, minimally invasive ENT surgeries offer patients many benefits such as smaller incisions, faster recovery times, reduced pain, and scarring.
In the majority of the cases, physicians enjoy a higher accuracy rate compared to traditional open surgery. These supreme benefits of minimally invasive ENT surgeries will drive the market.
The ENT surgical devices and equipment industry has lately witnessed a rise in the number of FDA clearances which would positively impact the market growth.A pre-market approval by FDA through FDA 510(K) is required for all the medical devices including ENT surgical devices.
As announced by the FDA in November 2018, the FDA 510(K) is expected to see a number of updates to regulate safety, technology, and capabilities in the medical devices space.The European Union’s Medical Device Regulation (MDR) presented a few changes that would come into force by 2020.
The changes made to the regulation were in terms of recertification of legacy devices, as well as changes in the definition of regulated devices, safety measures, and risk management.
Lack of proper reimbursement policies for ENT surgical procedures, especially in developing and developed countries, is one of the major factors that could hinder the growth of the ENT surgical devices and equipment market.ENT surgical procedures are complex, involve greater devices, and thus are relatively expensive.
The lack of proper reimbursement policies may inhibit the growth of the ENT surgical devices and equipment market.
ENT procedures involving minimally invasive ENT tools are an alternative to major surgeries.It involves less tissue damage, reduced scarring, and faster recovery thereby leading to greater adoption and would see an increase in the market potential.
Robot-assisted minimally invasive ENT procedures have transformed the treatment landscape of cancer associated with the ear, nose, and throat. For treating benign and malignant conditions of the oropharynx and larynx, Transoral robotic surgery (TORS) is now being widely adopted.
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