(I-BusinessNews.Com, March 16, 2021 ) According to research report 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%.
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The sinus dilation devices market includes various small and large players. Key players in this market include 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 Creganna Medical (Ireland).
The growth of the market can be attributed to the high prevalence of chronic sinusitis, growing preference for minimally invasive procedures, benefits of balloon sinuplasty/sinus dilation over conventional sinus surgeries, and favorable reimbursement scenario for sinus procedures in developed countries.
Based on product, the sinus dilation devices market is segmented into balloon sinus dilation devices, endoscopes, sinus stents/implants, and handheld instruments. The balloon sinus dilation devices market is further classified as standalone and hybrid according to the type of procedure. In 2018, balloon sinus dilation devices are expected to account for the largest share of the global sinus dilation devices market. This large share can be attributed to the rising prevalence of chronic sinusitis, increasing preference for minimally invasive surgical procedures, and the increasing focus of market players on launching advanced balloon sinus dilation devices.
Based on patient care setting, the sinus dilation devices market is segmented into hospitals, ambulatory surgical centers, 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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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, favorable reimbursement scenario, and the presence of major players in this region.
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