(I-BusinessNews.Com, January 09, 2021 ) According to research report the 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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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 are the key factors driving the growth of this market.
Balloon sinus dilation devices segment is expected to dominate the market in 2018
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 dilator 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 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 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.
In 2018, North America is expected to dominate the sinus dilator 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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Key players in the sinus dilator 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 sinus dilation devices market.
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