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The sinus dilation devices market is estimated to grow at a CAGR of 8.54% between 2022 and 2027. The size of the market is forecast to increase by USD 1,497.49 million. The growth of the market depends on several factors, including the high prevalence of chronic sinusitis, the benefits of sinus dilation over conventional sinus surgeries, and favorable reimbursement scenarios.
This report extensively covers market segmentation by product (balloon sinus dilation devices, endoscopes, surgical instruments, and sinus stents), application (standalone sinus dilation and hybrid sinus dilation), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global sinus dilation devices market as a part of the global healthcare equipment market. The parent, global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Technavio calculates the global healthcare equipment market size based on combined revenue generated by manufacturers of various diagnostic equipment and devices used across the therapy areas. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The high prevalence of chronic sinusitis is notably driving the market growth, although factors such as the presence of alternative treatments may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Sinus Dilation Devices Market Driver
The high prevalence of chronic sinusitis is notably driving the market growth. The prevalence of chronic sinusitis is increasing across the world. It is one of the most prevalent health conditions in the US among people of all age groups. Chronic sinusitis affects 9 out of 10 medical cases in adults and 5-7 out of 10 cases in children. It is not a life-threatening disease. Most patients are not cured or cannot achieve complete control over their symptoms, even with surgical intervention or maximal medical management.
Moreover, patients affected with chronic sinusitis may become resistant to the treatment or medications. These factors are increasing the demand for sinus dilation devices. Thus, the rising prevalence of chronic sinusitis is expected to drive the growth of the global sinus dilation devices market during the forecast period.
Significant Sinus Dilation Devices Market Trend
The growth of healthcare infrastructure in emerging economies is an emerging trend in the market. Improvements in economic conditions are encouraging developing countries to increase their expenditure on healthcare. For instance, according to the World Bank Group data, healthcare expenditure as a percentage of GDP in China increased from 4.49% in 2000 to 5.32% in 2015. Similarly, in Brazil, healthcare expenditure as a percentage of GDP increased from 8.37% in 2000 to 8.91% in 2015.
Such growth in the spending on the healthcare sector is increasing the number of surgeries. in addition, private healthcare providers are planning ways of integrating digital technologies into conventional hospital services for cost reduction, increased access, and improved patient care in the future. As a result of these factors, the demand for treatment options is on the rise. This, in turn, is increasing the demand for medical devices, including sinus dilation devices, thereby driving the growth of the market.
Major Sinus Dilation Devices Market Challenge
The presence of alternative treatments is a major challenge impeding the market growth. There are many alternatives for the treatment of chronic sinusitis in the market. A typical sinusitis treatment starts with medication, which includes homeopathy, over-the-counter and prescription medications, and natural remedies, such as hot and cool mist vaporizers, neti pot, steam, and sinus rinsing.
Endoscopic sinus surgeries are performed when the patient shows resistance to medication. Depending on the obstruction source, the doctor might remove tissues or shave away a polyp that is causing the nasal blockage. Another surgical option used for clearing blocked sinuses is FESS, which involves the removal of the nasal bone and tissue to enlarge the sinus opening. These substitutes may limit the growth of the global sinus dilation devices market during the forecast period.
Key Sinus Dilation Devices Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Sinus Dilation Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the balloon sinus dilation segment will be significant during the forecast period. Balloon sinus dilation devices provide an effective and safe sinus procedure for patients with chronic sinusitis. BSP is a less invasive procedure and has proven effective, with a faster recovery rate than conventional sinus surgeries.
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The balloon sinus dilation segment showed a gradual increase in the market share of USD 822.91 million in 2017 and continued to grow till 2021. BSP requires neither the removal nor the cutting of bone and tissue. This method includes a flexible and small balloon catheter to open the blocked sinus passageways and facilitate the drainage of the mucus that builds up in patients living with chronic sinusitis. Such benefits are fostering the growth of the balloon sinus dilation segment.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Factors such as the high prevalence of chronic sinusitis, the presence of established vendors, and growing awareness about sinus dilation devices and minimally invasive sinus surgeries are driving the growth of the sinus dilation devices market in North America.
Every year, approximately 40 million Americans have sinusitis, and about 33 million cases of chronic sinusitis are reported annually by the CDC. In Canada, the prevalence rate of CRS is reportedly low. There is a general increase in women being susceptible to respiratory tract disease. Over the past decade, the adoption of BSP has widely increased in the US. Between 2011 and 2014, the use of conventional sinus surgeries such as FESS witnessed a modest reduction, and the use of BSP increased.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The manufacturing of sinus dilation devices also stopped in 2020-2021, as most medical device companies switched to the production of essential equipment and supplies, such as PPE kits. This adversely affected the growth of the sinus dilation devices market in North America. However, in 2021, the initiation of large-scale vaccination drives and other government initiatives led to the lifting of lockdown restrictions and the resumption of business operations in the region. This has resulted in a gradual increase in the demand for sinus dilation devices in the region.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product (balloon sinus dilation devices, endoscopes, surgical instruments, and sinus stents), application (standalone sinus dilation and hybrid sinus dilation), and geography (North America, Europe, Asia, and Rest of World (ROW)).
Sinus Dilation Devices Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.54% |
Market growth 2023-2027 |
USD 1497.49 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.35 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, Germany, UK, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accurate Surgical and Scientific Instruments Corp., Aetna Inc., B. Braun SE, Creganna Medical Unlimited, Dalent LLC, EMOS Technology GmbH, ESC Medicams, InnAccel Technologies Pvt. Ltd., Intersect ENT Inc., KARL STORZ SE and Co. KG, Medtronic Plc, Meril Life Sciences Pvt. Ltd., Olympus Corp., Optim LLC, SinuSys Corp., Sklar Surgical Instruments, Smith and Nephew plc, Stryker Corp., Summit Medical LLC, and Johnson and Johnson |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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