Sinus Dilation Devices Market Growing at a CAGR of 9.1%.
According to research report the global sinus dilation devices market is expected to reach USD 2.78 billion by 2023 from USD 1.80 billion in 2018, at a CAGR of 9.1%. The high prevalence of chronic sinusitis, growing preference for minimally invasive procedures, benefits of balloon sinuplasty/sinus dilation over conventional sinus surgeries, and favourable reimbursement scenario for sinus procedures in developed countries are the major factors driving the growth of the market. However, the dearth of skilled otolaryngologists and ENT surgeons is expected to challenge market growth to a certain extent.
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Based on patient care setting, the ENT clinics/in office segment is projected to grow at the highest CAGR during the forecast period
Based on patient care setting, the sinus dilation devices market is segmented into hospitals, ambulatory surgical centres, and ENT clinics/in office. The ENT clinics/in office segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to increasing number of treatable patients in ENT clinics, faster recovery time, cost-effectiveness, and growing preference for minimally invasive techniques.
North America is expected to dominate the sinus dilation devices market in 2018
In 2018, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to rapidly increasing geriatric population, rising prevalence of chronic sinusitis, higher adoption of new technologies among ENT surgeons and otolaryngologists, favourable reimbursement scenario, and the presence of major players in this region.
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Key players in the market include The major players in the market are Entellus Medical Inc. (a subsidiary of Stryker) (US), Acclarent Inc. (a subsidiary of Johnson & Johnson) (US), Medtronic plc (Ireland), Smith & Nephew plc (UK), Intersect ENT Inc. (US), and Olympus Corporation (Japan). Other players in the market include Meril Life Sciences Pvt. Ltd. (India), SinuSys Corporation (US), InAccel (India), Jilin Coronado Medical Ltd. (China) and dalENT Medical (US). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
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