Global ENT Devices Market Analysis

Global ENT Device Market Executive Summary

As of December 2016, third-party payer insurance coverage for standalone balloon sinus dilation procedures is available for an estimated 230 million people in the US, which represents 80% of the covered people in the country. In the US, the standalone balloon sinus dilation procedure performed at the physician’s office is covered by various third-party payers, such as Medicare, United Healthcare, Aetna, Cigna, Humana, Kaiser Permanente, TRICARE, Health Net, Medicaid, Blue Cross Blue Shield. Also, coverage of USD 180-USD 300 is provided for throat procedures such as tonsillectomies. For instance, the reimbursement for the tonsillectomy procedure within the state of Virginia is USD 200 (including follow-up care for 90 days after the procedure). Thus, a favorable reimbursement scenario in developed countries provides the impetus for the growth of the ENT devices market.

Market Size and Key Findings

The Global ENT Device Market size is at around US $ xx Bn in 2021 and is projected to reach US $ xx Bn in 2030, exhibiting a CAGR of xx% during the forecast period.

Global ENT Device Market Size (In USD Bn)

(2021-2030F)

Market Dynamics

Market Growth Drivers Analysis

For market participants in ENT devices, emerging markets like China, India, and LATAM (Latin American) nations provide considerable growth prospects. The OECD projects that by 2030, there will be 4.9 billion middle-class people worldwide, up from 1.8 billion in 2009. By 2030, it is anticipated that 66% of the world's middle-class people will reside in Asia. People in developing nations like China and India are now able to buy ENT devices with cutting-edge technology, which is boosting the market's expansion.

Furthermore, a number of prospects for the expansion of this market exist in emerging nations due to factors like laxer regulatory standards, growing urbanization, better healthcare facilities, rising disposable income, and an ageing older population. Several industry players are concentrating on increasing their market presence in developing countries in order to take advantage of the potential opportunities in the ENT devices market. In this regard, Intersect ENT received CE Mark approval for PROPEL Contour in May 2021 for patients who had frontal sinus surgery and developed chronic rhinosinusitis. If these items are approved, market participants will be able to expand their product offers in developing areas. Emerging economies throughout the forecast period create new income pockets for market competitors due to the aforementioned causes.

Market Restraints

Reducing healthcare costs has become one of the main priorities for healthcare systems during the past ten years. This is accomplished through the implementation of price controls, competitive pricing, bidding, tender mechanics, coverage and payment policies, the relative efficacy of therapies, technology assessments, and managed-care agreements. Healthcare providers have allied themselves with group purchasing organizations and integrated health networks that bargain for the bulk purchase of medical devices in response to mounting pressure to lower healthcare costs. The tendency toward bulk purchasing puts more pressure on prices and reduces players' profit margins, especially for small- and medium-sized producers who have a constrained selection of ENT devices.

Competitive Landscape

Key Players

The prominent players operating in this market include Karl Storz Gmbh & co. KG (Germany), Medtronic plc (Ireland), Stryker Corporation (US), Smith & Nephew plc (UK), Olympus Corporation (Japan), Acclarent, inc. (a subsidiary of Johnson & Johnson) (US), Cochlear Limited (Australia), Hoya Corporation (Japan), GN Store Nord (Denmark), Welch Allyn (Hill-Rom Holding Inc.) (Denmark), etc.