Otorhinolaryngology Devices Market To Hit $13,999 Million By 2026

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Otorhinolaryngology Devices market by

Otorhinolaryngology devices market size was valued at $9,268 million in 2018, and is projected to reach $13,999 million by 2026, registering a CAGR of 5.2%

The growth of the global otorhinolaryngology devices market is majorly attributable to rise in prevalence of ear, nose, and throat diseases.” — Onkar SumantPORTLAND, OREGON, UNITED STATES, July 22, 2022 /EINPresswire.com / -- According to the report, global otorhinolaryngology devices market size was valued at $9,268 million in 2018, and is projected to reach $13,999 million by 2026, registering a CAGR of 5.2% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

The growth of the global otorhinolaryngology devices market is majorly attributable to rise in prevalence of ear, nose, and throat diseases. In addition, increase in adoption of innovative otorhinolaryngology devices such as capsule endoscopes and robot-assisted otorhinolaryngology surgery along with ultra-high-definition visualization systems is anticipated to boost the market growth in the coming years.

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High prevalence of chronic sinusitis, increase in adoption of minimally invasive ENT procedures, and rise in elderly population drive the growth of the global otorhinolaryngology devices market. However, limited awareness and high costs, and government regulations and reimbursement issues hamper the growth to certain extent. On the contrary, high growth prospects in emerging market would open new opportunities for the market players.

Capsule endoscopy emerged to be a highly preferred technology due to its minimally invasive nature and is designated as a breakthrough in otorhinolaryngology device technology to diagnose various diseases. Despite numerous advancements in the otorhinolaryngology devices field, the flexible endoscopes segment is expected to maintain its lead in the global market due to its high precision, sensitivity, specificity, and safety as compared to other at economical cost. The hearing aids segment is expected to grow at the fastest rate of 7.6% during the analysis period, owing to surge in prevalence of diseases related to ear and increase in number of hearing loss due to genetic problem or accident.

The ENT clinics segment to portray fastest growth through 2026

The ENT clinics segment held the largest share in 2019, contributing to one-third of the global otorhinolaryngology devices market. In addition, the same segment is expected to manifest the fastest CAGR of 5.2% from 2019 to 2026. ENT Clinics enable a safe, cost-effective, patient-friendly environment for the endowment of medical services such as diagnostic devices (endoscopes), surgical devices, CO2 lasers along with favorable reimbursements, thereby driving the growth of the segment

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North America garnered largest share

The market across North America accounted for the largest share in 2019, garnering nearly two-fifths of the market. Rise in the adoption of otorhinolaryngology devices for ear, nose, and throat interventions, innovations, and introduction of advanced technologies propel the growth of the market in this region. However, the global otorhinolaryngology devices market across Asia-Pacific is estimated to register the highest CAGR of 6.8% during the study period, due to rise in number of expansion activities by top players, increase in geriatric population, and surge in prevalence of cataract.

Major market players

Freudenberg SE (InHealth Technologies, Inc.)
Hill-Rom Holdings, Inc
Atos Medical AB, Cochlear Ltd
Johnson & Johnson (Acclarent, Inc.)
Medtronic Plc.
Olympus Corporation
Sonova Group
Starkey Hearing Technologies
Stryker Corporation

We also Offers Regional and Country Reports-

Japan Otorhinolaryngology Devices Market
South Korea Otorhinolaryngology Devices Market
Singapore Otorhinolaryngology Devices Market
China Otorhinolaryngology Devices Market
Indonesia Otorhinolaryngology Devices Market
Australia Otorhinolaryngology Devices Market
Taiwan Otorhinolaryngology Devices Market

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