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Surgical ENT Device Market Worth $11.2 Billion By 2030

Surgical ENT Device Market Size Worth $11.2 Billion By 2030

April 2022 | Report Format: Electronic (PDF)

Surgical ENT Device Market Growth & Trends

The global surgical ENT devices market size is expected to reach USD 11.2 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.77% from 2023 to 2030. The high prevalence of hearing loss, increasing uptake of surgeries for the treatment of ENT disorders, and the availability of advanced surgical devices are certain factors positively impacting the market growth.

Traditionally existing surgical procedures are slowly being replaced by minimally invasive surgeries in most advanced countries, such as the U.S., the U.K., and Japan. Surgical ENT devices for minimally invasive procedures are dominated by companies such as Karl Storz, which offer HD video rhino-laryngoscope that can be used for visualization of the nose, pharynx, and larynx in HD image quality.

The COVID-19 pandemic has significantly impacted the global economy. It adversely affected operational goals and long-term projections of businesses. The COVID-19 pandemic has increased the pressure on healthcare providers and caused the cancelation or postponement of various examinations and procedures. The number of elective procedures has decreased, which has also affected the sales of ENT medical devices.

In the worst-hit months of 2020, mass closure of ENT clinics and termination of elective surgical procedures in hospitals drove down sales of ENT medical devices. For instance, Olympus Corporation's revenue decreased by 21.7% in the first quarter of 2020 due to a decrease in revenue from all businesses with factors such as restrictions on sales promotion activities. Surgeries across most emerging markets, including Latin America and India, remained very low during the pandemic.

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Surgical ENT Device Market Report Highlights

In terms of product, the radiofrequency handpieces segment held the largest revenue share in 2022. The sinus balloon dilation devices segment is expected to witness the fastest growth over the forecast period due to the increasing demand for devices
North America held the largest share in terms of revenue in 2022. The Asia Pacific region is expected to witness the fastest growth during the forecast period. The growth can be attributed to factors such as a large patient population and developments in healthcare infrastructure, leading to the high demand for ENT surgeries and associated devices
The European market is likely to witness high growth in the years to come due to the growing geriatric population, increasing prevalence of ENT-related diseases, and technological advancements. This region has a significant demand for Cochlear Implant (CI) procedures. Germany is expected to witness the fastest growth over the forecast period
The market is consolidated with a few large and multiple medium and small players. The majority of manufacturers have suffered a negative impact from the COVID-19 pandemic, including reduced demand for devices. However, players are witnessing recovery amid relaxations in COVID-19 restrictions