The global ENT Devices Market size is expected to reach USD 29.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2021 to 2028. Demant A/S, Sonova, Ambu A/S, Pentax Medical, Karl Storz are some of the key players in this industry. The market growth can be attributed to factors such as a growing geriatric population, high prevalence of hearing loss, and increasing penetration of minimally invasive surgeries are factors likely to boost the market during the forecast period. Furthermore, technological advancements in this field, an increase in healthcare investment for early detection of diseases, and favorable regulatory policies are other factors expected to drive the market.
Furthermore, with age, the risk of poor immunity
increases, which makes older people more vulnerable to disorders of the nose
and throat. To address this issue, elderly people need ENT devices. This, in
turn, is expected to propel market growth. According to the Action on Hearing
Loss Information, 1 out of every 6 people or over 10.0 million people in the
U.K. suffered from hearing loss. Out of these, 6.4 million people were in the
65 and above age group, and 800,000 people suffered from severe or profound
deafness.
Loss of hearing is the third most common chronic
physical condition in adults after high blood pressure and arthritis. Hearing
loss affects people of all ages and is particularly prevalent in those over 65
years, with 1 in 3 people over 65 suffering from a disabling hearing loss. It
disturbs communication and can result in depression, anxiety, social isolation,
and cognitive decline. For instance, according to the National Center for
Health Statistics (NCHS), 15% of the total U.S. population over 18 lives with
some type of hearing impairment. Men are more likely to be affected than women
(18.4% vs. 12.4%).
Moreover, the onset of the COVID - 19 pandemic, led to
the restriction on movement enforced in most markets harmed the entire
industry. The majority of ENT device users are senior citizens, and they have
been advised to stay at home to avoid the risk of infection. Many healthcare
providers have decided to postpone all non-essential surgeries, which has
impacted the industry.
Related Press Release@ ENT Devices Market Report
ENT Devices Market Report
Highlights
- The diagnostic ENT devices segment accounted for the largest
revenue share in 2020. However, the hearing aids segment is expected to
grow at a rapid rate during the forecast period
- North America held the largest revenue share in 2020 and is
expected to maintain its dominance during the forecast period. This can be
attributed to factors such as increased demand for hearing care devices,
presence of large hospitals chains, highly equipped ambulatory facilities,
and significant target population
- In Asia Pacific, the market is projected to grow at the highest
rate during the forecast period owing to growing healthcare expenditure,
and rising investment by market players
- Mergers and collaborations and product development are the key
strategies being undertaken by the market players. For instance, In
February 2019, Widex and Sivantos announced the completion of the merger.
The newly created company will operate under the name WS Audiology and be
headquartered in Lynge, Denmark, and Singapore
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed business
decisions, the company offers market intelligence studies ensuring relevant and
fact-based research across a range of industries including technology,
chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment