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%. Dearth of Skilled Otolaryngologists and ENT Surgeons is a major challenge for the growth of the sinus dilation devices market. Currently, several countries are facing a shortage of skilled professionals who are capable of effectively performing ENT procedures. In 2012, there were 8,600 otolaryngologists in the US, and it is estimated that there will be a shortage of 2,500 otolaryngologists in the country by 2025 (Source: Pubmed.gov). Furthermore, underdeveloped countries and regions face this problem on a much wider scale. The dearth of skilled ENT surgeons in these countries is expected to limit the number of ENT procedures performed in spite of the presence of a large target patient population base. This is considered as a major challenge for market growth.
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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.
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.
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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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