The ENT devices market share is expected to increase by USD 6.06 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.71%.

This ENT devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ENT devices market segmentation by product (diagnostic ENT devices, surgical ENT devices, hearing implants, voice prosthetics, and nasal splints) and geography (North America, Europe, Asia, and ROW). The ENT devices market report also offers information on several market vendors, including Cochlear Ltd., Demant AS, HOYA Corp., Johnson and Johnson Inc., KARL STORZ SE and Co. KG, Lateral Medical, Medtronic Plc, Olympus Corp., Siemens Healthineers AG, and WS Audiology AS among others.

What will the ENT Devices Market Size be During the Forecast Period?

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ENT Devices Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising prevalence of ENT disorders is notably driving the ENT devices market growth, although factors such as the high cost of ENT devices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ENT devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key ENT Devices Market Driver

One of the key factors driving the ready to ENT devices market growth is the rising prevalence of ENT disorders. ENT disorders are critical health concerns with high financial and societal costs. In infants and children, hearing debilitation hinders formative dialect and instructive advance. In adults, it causes challenges in both professional and social life, including rejection from society. A number of factors are responsible for hearing impairment, including infections during childhood such as measles, mumps, and meningitis exposure to excessive or prolonged noise, chronic otitis media; head/neck injuries; certain nutritional deficiencies, congenital abnormalities, and infections and perinatal problems; use of ototoxic medications such as certain types of chemotherapies and antibiotics; industrial solvents; genetic disorders; and aging. In recent decades, the rising prevalence of disorders related to ENT has been reported more frequently, which, in turn, has led to the growth of this market.

Key ENT Devices Market Trend

Technological advances is the major trend influencing the ENT devices market growth.  ENT devices have become much more technologically advanced than ever before, and it is continuously advancing. Advances in radiologic imaging have potentially increased the practitioner's diagnostic and therapeutic capabilities in ENT surgery. In order to remove tumors of the oropharynx in a minimally invasive fashion, the transoral robotic surgical approach utilizing the da Vinci Surgical System has been utilized with favorable results. Other technological advances include Acclarent Balloon Sinuplasty system, Cochlear Implantations and Facial Nerve Monitors, and /image-guided techniques, which are of immense importance in the modern treatment procedures used by the specialists, advanced endoscopy skills with Olympus endoscopy tower for sinus procedures/drainage, throat procedures and biopsies, sentinel node biopsy in head and neck cancer, endoscopic skull base surgery, infusions of vestibulactive drug for sudden hearing loss patients, and endoscopic thyroid and parathyroid surgeries.

Key ENT Devices Market Challenge

High cost of ENT devices is one of the key challenges hindering the ENT devices market growth.  ENT devices are very useful in various procedures related to them. Several types of hearing implants are available in the market, depending on the position of their placement. But the major challenge associated with these devices is the cost associated. These devices are very expensive. The total cost of a cochlear implant, including everything from evaluation to rehabilitation, can cost as much as $100,000. Other hearing devices that are placed outside the ear also hold great importance as these are removable devices and can be used at the will of an individual. But, these hearing devices are also expensive and range from $1,000-$4,000 for each device, depending on the level of technology. Two hearing aids are needed for most people with hearing loss, and most insurance providers do not cover this cost. The high price tag is often a barrier to avail the benefits of a hearing device.

This ENT devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The growth in the global healthcare equipment market will be driven by factors such as increasing life expectancy, expanding access to improved healthcare in emerging economies, and an increase in cases of chronic conditions. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ENT devices market during the forecast period.

Who are the Major ENT Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Cochlear Ltd.
• Demant AS
• HOYA Corp.
• Johnson and Johnson Inc.
• KARL STORZ SE and Co. KG
• Lateral Medical
• Medtronic Plc
• Olympus Corp.
• Siemens Healthineers AG
• WS Audiology AS

This statistical study of the ENT devices market encompasses successful business strategies deployed by the key vendors. The ENT devices market is concentrated and the vendors are investing extensively in R&D and product development to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The ENT devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

ENT Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the ENT devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for ENT Devices Market?

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34% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for ENT devices in North America. However, the market growth rate in this region will be slower than the growth of the market in Asia and Europe.

The sales of the devices used for the diagnosis of various ENT disorders, such as sinusitis, rhinitis, otitis media and tonsillitis, and the deteriorating environmental conditions that add to the prevalence of ENT disorders and associated risk factors will facilitate the ENT devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 adversely affected the ENT devices market in the region in 2020. To control the spread of the disease, a temporary shutdown of ENT clinics and hospitals was observed in early 2020, which impacted the demand for ENT devices in the region. Also, the export and import of raw materials and other finished products from various countries, such as China, was restricted, which created a supply-demand imbalance in early 2020 and accounted for the dip in the growth of the ENT devices market in the region. However, due to the decreasing number of COVID-19 cases, lockdowns have lifted, and import and export of raw materials have resumed. Also, ENT clinics and hospitals have resumed their operations following the lifting of lockdowns, which will help the market recover during the forecast period.

What are the Revenue-generating Product Segments in the ENT Devices Market?

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The ENT devices market share growth by the diagnostic ENT devices segment will be significant during the forecast period. Diagnostic ENT devices are primarily used for diagnostic purposes. It mainly includes endoscopes and hearing screening devices. Rigid endoscopy is one of the minimally invasive surgical techniques that uses specifically designed instruments and cameras to access body parts that are inaccessible without major surgical intervention, thereby driving the demand of this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the ENT devices market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this ENT Devices Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive ENT devices market growth during the next five years
• Precise estimation of the ENT devices market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the ENT devices industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of ENT devices market vendors

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