Sinus Dilation Device Market Size, Share & Trends Analysis Report By Product (BSD, FESS Instruments Set), By Procedure (Standalone, Hybrid), By Application (Pediatric, Adult), By End Use, And Segment Forecasts, 2021 - 2028

Report Overview

The global sinus dilation device market size was valued at USD 1.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.0% from 2021 to 2028. The high preference for minimally invasive procedures, favorable reimbursement scenarios, rising awareness about the advantages of balloon sinuplasty over other conventional techniques, and prevalence of chronic sinusitis are the major factors fostering the market growth. The development of advanced surgery techniques helps increase the market dynamics by replacing the traditional procedures. Technological advancements, such as surgical laser technologies, in sinus surgery, ensure minimal ablation and have fewer side effects. Decreased turnaround time enables these procedures to be performed in outpatient departments.

The COVID-19 pandemic led to interruptions in routine patient care. Many healthcare organizations have canceled routine clinic visits and elective surgeries to increase and maintain the availability of intensive care and inpatient care beds and have reorganized medical and nursing staff. This has particularly interrupted care for patients with chronic rhinitis. The patients opted for teleconsultations and temporary options for sinus-related problems.

The availability of COVID-19 vaccines is expected to normalize the number of elective surgeries performed, like procedures related to sinus conditions, thereby boosting the market growth. Medtronic, Smith & Nephew, and Acclarent, Inc. are some of the key players operating in the market. These players are focusing on mergers & acquisitions and investments in technological advancements and R&D activities to expand the geographical reach. For instance, Smith & Nephew invested USD 222 million during FY 2015 and USD 223 million in 2017 in research & development.

Product Insights

The Balloon Sinus Dilation (BSD) devices segment captured the largest revenue share of more than 47% in 2020. BSDs are safe, small, flexible, and effective in improving symptoms of sinusitis. As sinus dilation procedure does not involve tissue ablation, it results in quick turnaround time and patient comfort. However, BSD procedures are temporary, and patients may have to go for repeat procedures.

The Functional Endoscopic Sinus Surgery (FESS) Instruments Set segment is anticipated to register the fastest growth rate of more than 14% over the forecast period. It is used to treat recurrent acute rhinosinusitis and medically refractory chronic rhinosinusitis with or without polyps. It is a minimally invasive procedure and is highly preferred over other procedures, which is anticipated to fuel the segment growth.

Procedure Insights

The standalone procedure segment captured the highest revenue share of over 68% in 2020. Balloon sinus ostial dilation is performed as a standalone procedure. Standalone balloon dilation is as effective as functional endoscopic sinus surgery for treating chronic rhinosinusitis. In addition, the rising preference for minimally invasive surgical procedures due to increased adoption of health insurance is anticipated to fuel segment growth.

Balloon sinus ostial dilation is performed in combination with functional endoscopic sinus surgery; it is referred to as a hybrid procedure as it includes elements of both balloon sinus ostial dilation and functional endoscopic sinus surgery. Hybrid functional endoscopic sinus surgery balloon dilation procedure is effective in both pediatric and adult patients. Thus, increasing preference for hybrid procedures for adult and pediatric patients is anticipated to boost the market growth.

End-use Insights

The hospitals segment accounted for the largest revenue share of over 51% in 2020 and is expected to witness considerable growth during the forecast period owing to the high volume of surgical procedures performed in hospitals. The increasing prevalence of chronic sinusitis coupled with favorable reimbursement criteria is anticipated to boost the segment growth. The availability of technologically advanced infrastructure and medical equipment along with the ability to perform complex sinus surgeries are projected to boost segment growth.

The Ambulatory Surgical Centers (ASCs) segment is expected to witness the fastest CAGR during the forecast period. The Healthcare system is interested in ASCs as a strategic option for delivering surgical services. Minimally invasive procedures, including BSD, can be easily conducted in ASCs. Moreover, cost-effectiveness along with better reimbursement scenarios than hospitals is anticipated to fuel the segment growth.

Application Insights

The adult patient segment accounted for the highest revenue share of more than 68% in 2020 owing to the high prevalence of sinusitis in adults. For instance, in September 2017, according to the CDC, sinusitis is more common in adults than in children. 9 out of 10 viral sinusitis cases in adults were observed in the U.S.

The pediatric segment is anticipated to register the fastest CAGR during the forecast period. The growth can be attributed to the rise in the occurrence of sinusitis among children. According to the National Center for Biotechnology Information, in 2015, in the U.S., about 6 to 13% of children developed chronic rhinosinusitis and acute rhinosinusitis by the age of 3 years. In addition, several market players are focusing on developing products specifically for pediatric patients, thereby securing the market position.

Regional Insights

North America captured the largest market share of more than 40% in 2020 and is expected to continue its dominance over the forecast period. The dominance can be attributed to the presence of highly regulated and developed healthcare infrastructure. Moreover, the availability of advanced products due to the presence of major market players is boosting the market growth. Asia Pacific is projected to exhibit the fastest CAGR over the forecast period owing to an increase in disposable income and improvement in patient awareness about sinus surgical procedures.

Companies operating in the Asia Pacific regional market, such as Olympus Corp. and InnAccel Technologies, are focusing on mergers and acquisitions to expand their product portfolio and deliver high-quality products in emerging markets at an affordable price. For instance, in April 2017, Olympus Corp. entered into a definitive contract to acquire Image Stream Medical, Inc. for USD 87 million to improve medical solution assistance for healthcare facilities.

Key Companies & Market Share Insights

The market is highly consolidated with a few major companies accounting for a majority of the market share. Product launch, product approval, strategic acquisitions, and innovations are some of the key business strategies adopted by the market players to retain their market share and expand their geographic reach. For instance, in December 2017, Stryker Corp. acquired Entellus Medical, a U.S.-based company delivering minimally invasive ENT solutions in the market.

Entellus Medical delivers Latera Absorbable Nasal Implant, XprESS ENT Dilation System, MiniFESS Surgical Instruments, and FocESS Imaging & Navigation devices in the ENT solutions market to address the rising demand for minimally invasive ENT surgical procedures. Some of the prominent players in the global sinus dilation device market include:

• Stryker

• Smith & Nephew

• Olympus Corporation

• Medtronic

Sinus Dilation Device Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global sinus dilation device market report based on product, procedure, application, end use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • Balloon Sinus Dilation Devices

  • Endoscopes

  • Functional Endoscopic Sinus Surgery (FESS) Instruments Set

  • Sinus Stents/Implants

  • Others

• Procedure Outlook (Revenue, USD Million, 2016 - 2028)

  • Standalone

  • Hybrid

• Application Outlook (Revenue, USD Million, 2016 - 2028)

  • Adult

  • Pediatric

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Hospitals

  • ENT Clinics/In-office

  • Ambulatory Surgical Centers (ASCs)

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Malaysia

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Chile

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE