New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'ENT Surgical Devices And Equipment Global Market Report 2023' -
The global ent surgical devices and equipment market will grow from $6.25 billion in 2022 to $6.81 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The ent surgical devices and equipment market is expected to grow to $9.11 billion in 2027 at a CAGR of 7.5%.
The ENT surgical devices and equipment market consists of sales of balloon sinus dilation devices, powered surgical instruments, ENT supplies, radiofrequency devices, ear tubes, and handheld instruments including the otology instrument, rhinology instrument, head and neck surgical instrument, laryngeal instrument, and other handheld instruments that are used for ENT surgeries.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
ENT surgical devices and equipment are used in ENT surgeries by surgeons and ENT specialists.
Asia Pacific was the largest region in the ENT surgical devices and equipment market in 2022.North America was the second-largest region in the ENT surgical devices and equipment market.
The regions covered in the ENT surgical devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main products in ENT surgical devices and equipment are hand instruments, ENT surgical lasers, powered ENT surgical systems, radiofrequency electrosurgical devices, ENT surgery workstations, ENT surgical navigation system, ENT visualization system, and surgical microscopes.These devices and equipment are hand-held devices, portable devices, and fixed devices.
The various end-users are hospitals, ambulatory surgical centres, and ENT clinics.
Increasing demand and adoption of minimally invasive ENT surgeries will drive the ENT surgical devices and equipment market in the future.For example, minimally invasive ENT surgeries offer patients many benefits such as smaller incisions, faster recovery times, reduced pain, and scarring.
In the majority of the cases, physicians enjoy a higher accuracy rate compared to traditional open surgery. These supreme benefits of minimally invasive ENT surgeries will drive the market.
Lack of proper reimbursement policies for ENT surgical procedures, especially in developing and developed countries, is one of the major factors that could hinder the growth of the ENT surgical devices and equipment market.ENT surgical procedures are complex, involve greater devices, and thus are relatively expensive.
The lack of proper reimbursement policies may inhibit the growth of the ENT surgical devices and equipment market.
ENT procedures involving minimally invasive ENT tools are an alternative to major surgeries.It involves less tissue damage, reduced scarring, and faster recovery thereby leading to greater adoption and would see an increase in the market potential.
Robot-assisted minimally invasive ENT procedures have transformed the treatment landscape of cancer associated with the ear, nose, and throat. For treating benign and malignant conditions of the oropharynx and larynx, Transoral robotic surgery (TORS) is now being widely adopted.
The ENT surgical devices and equipment industry has lately witnessed a rise in the number of FDA clearances which would positively impact the market growth.A pre-market approval by FDA through FDA 510(K) is required for all the medical devices including ENT surgical devices.
As announced by the FDA, the FDA 510(K) is expected to see several updates to regulate safety, technology, and capabilities in the medical devices space.The European Union's Medical Device Regulation (MDR) presented a few changes that would come into force by 2020.
The changes made to the regulation were in terms of recertification of legacy devices, as well as changes in the definition of regulated devices, safety measures, and risk management.
In 2020, Intersect ENT, a USA-based ear, nose, and throat condition treatment developer, announced to acquire Fiagon for USD 71.1 million. The acquisition was aimed to help Intersect ENT to expand its product portfolio and to extend its geographical reach. Fiagon develops surgical navigation systems that support both routine and complex ENT procedures and is based in Germany.
The countries covered in ENT surgical devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The ENT surgical devices and equipment market research report is one of a series of new reports that provides ENT surgical devices and equipment market statistics, including ENT surgical devices and equipment industry global market size, regional shares, competitors with a ENT surgical devices and equipment market share, detailed ENT surgical devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the ENT surgical devices and equipment industry. This ENT surgical devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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