Global Otorhinolaryngology Devices Market - 2022-2029
Otorhinolaryngology Devices Market size was valued US$ 15.8 billion in 2021 and is estimated to reach US$ 30.3 billion by 2029, growing at a CAGR of 7.0% during the forecast period (2022-2029).
Otorhinolaryngology devices are the equipment used for the diagnosis, treatment, and surgical management of the conditions associated with the ear, nose, throat, neck, mouth, sinus, or voice box. These devices are widely used to treat diseases that hamper sensing, eating, drinking, speaking, breathing, swallowing, and hearing ability.
The global otorhinolaryngology devices market is growing due to several factors such as rising demand for otorhinolaryngology devices with the increasing prevalence of ear, nose, and throat-related disorders and increasing adoption of the minimally invasive approaches.
Rising prevalence of ENT related disorders and various new technological advancements are expected to drive market growth.
The market is driven by the rising demand for otorhinolaryngology devices with the increasing prevalence of ear, nose, and throat-related disorders. Tonsillitis, ear infections, sinus infection, hearing loss, labyrinthitis, cochlear/acoustic nerve disorders, congenital malformations, goiter, and tinnitus are the most frequent ear, nose, and throat-related disorders. The increasing adoption of the minimally invasive approaches and surgical robots for the surgical management of the ear, nose, and throat-related disorders due to advantages such as rapid recovery, the lower rate of postoperative infection, decreased pain, and better postoperative immune function shall stimulate the market growth.
The market is witnessing the approval of novel otorhinolaryngology devices. For instance, in July 2019, Intersect ENT had received approval from the United States Food and Drug Administration (FDA) for its Propel Mini steroid-eluting sinus implant. It is designed to place the mometasone furoate-eluting Propel Mini in the ethmoid sinus behind the nasal bridge. In March 2020, Diagnostic had obtained the CE Mark for CAVI-T, a low-pressure asymmetric balloon for treating spontaneous and post-operative intranasal bleeding. CAVI-T is the first asymmetric intranasal balloon that stops bleeding by applying low-force compression while adapting to the nasal fossa's anatomy.
In March 2020, Aerin Medical had received clearance from the United States Food and Drug Administration (FDA) for its RhinAer Stylus for nonsurgical treatment of chronic rhinitis. RhinAer Stylus acts by disrupting the signals that lead to nonallergic rhinitis developments by using Aerin’s proprietary temperature-controlled technology. It provides a therapeutic effect by going through the nasal airway and minimizes the risk to surrounding tissue.
The market is dominated by the availability of technologically advanced otorhinolaryngology devices, including the sinus irrigation and balloon sinuplasty system, cochlear implants, facial nerve monitors, image-guided surgery, robotic surgery technologies, and others shall fuel the market growth. The balloon sinuplasty system is widely used to treat chronic sinusitis symptoms due to its advantages, such as reduced bleeding and reduced recovery time. It does not limit the other treatment options if required. Medtronic Plc’s NuVent balloon sinus dilation is a simple, targeted system for balloon sinus surgery with built-in electromagnetic (EM) surgical navigation technology. It comprised the rigid balloon sinus seekers pre-calibrated for surgical navigation with the Fusion ENT Navigation System during balloon sinus surgery. It allows the locating and moving of the tissue, bone, or cartilage around sinus drainage pathways.
High cost associated with these devices are expected to hamper the market growth.
The market is hindered by the high cost of these otorhinolaryngology devices as the market is becoming competitive its putting pressure on key market players that is leading towards high price of these devices. And on various medical devices there are implementation taxes and duties that can directly affect the market.
The global otorhinolaryngology devices market provides in-depth analysis of the market based on various industry factors such as Porter’s Five Forces, Regulatory Analysis, Supply Chain Analysis, Pricing Analysis.
Product type segment is expected to hold the largest market share in global otorhinolaryngology devices market
The otorhinolaryngology devices market is segmented on product type as diagnostic devices, surgical devices, hearing aids, image-guided surgery systems, etc. The diagnostic devices segment accounts for the highest market share due to the rising adoption of endoscopes to examine the ear, nose, and throat's small spaces. The diagnostic devices segment includes rigid endoscopes, flexible endoscopes, a robot-assisted endoscope, a hearing screening device, and other diagnostic devices. The rising number of people undergoing minimally invasive surgical procedures shall stimulate market growth. For instance, in 2019, Cochlear announced world’s 1st active osseo-integrated steady state implant, Osia. It utilizes digital piezoelectric stimulation that bypass the damaged areas of hearing system by which sound vibrations directly reaches to cochlea.
The hearing aids segment is expected to have positive market growth due to the higher penetration of hearing aids to improve the hearing and speech comprehension of people with hearing loss. The market is dominated by the availability of the Behind the Ear (BTE), Receiver in the Ear (RITE), In the Ear (ITE), Canal Hearing Aids (CHA), and other hearing aid devices. There is a rising demand for hearing aids with the rising prevalence of hearing loss worldwide. According to the National Institute on Deafness and Other Communicable Disorders (NIDCD), in 2020, around 28.8 million adults benefited from using hearing aids in the United States. Approximately 30% of those people of age-group 70 and older have ever used hearing aids, and 16% of those people have ever used hearing aids. The hearing aids segment is witnessing technological advancement with the digital platform, including Smartphone connectivity, ReSound Assist, and others over the last decade. Smartphone connectivity helps the hearing aids are to connect wirelessly to both Android and iPhone devices. These hearing aids allow the wearer to hear while talking on the phone.
Further, the market is also classified based on end-users as hospitals, ENT clinics, and others. The hospital segment accounts for the significant market share due to increased surgeries to treat ear, nose, and throat-related disorders. There is a high availability of cost-effective and technologically advanced surgical devices in hospitals. The rising aging population shall stimulate market growth. The hospital segment is expected to maintain its market-dominant market position over the forecasted period.
North America region holds the largest market share in the global otorhinolaryngology devices market
By region, the otorhinolaryngology devices market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. North America dominated the otorhinolaryngology devices market among all regions due to the high prevalence of ear, nose, and throat-related disorders. According to the Center for Disease Control and Prevention (CDC), around 16% of adults are affected by hearing loss in the United States. According to the American Cancer Society, approximately 2,000 people suffer from nasal cavity and paranasal sinus cancers in 2020. It is most common among men in comparison to females. According to the Centers for Disease Control and Prevention (CDC), approximately 12.1% of the adult population, i.e., 28.5 million people, are affected by chronic sinusitis. There is a high demand for otorhinolaryngology devices, including endoscopes, hearing screening devices, powered surgical instruments, hearing aids, hearing implants, balloon sinus dilation image-guided surgery systems, ear tubes, and other otorhinolaryngology devices. The presence of better reimbursement policies and healthcare infrastructures & facilities shall stimulate market growth.
The Asia Pacific region is expected to have positive market growth due to the growing adoption of minimally invasive ENT surgeries. There is rising research and development activities for otorhinolaryngology devices as there is an increase in the number of companies focusing on otorhinolaryngology devices. The growing older population shall boost the demand for otorhinolaryngology devices. The rising disposable incomes and healthcare expenditure in improving healthcare facilities & infrastructures especially in developing countries, including India and China, will fuel market growth.
The otorhinolaryngology devices market is highly competitive with the presence of several international and local market players. Product diversification, revenue generation, and opportunities intensify the market competition. Atos Medical AB, Cochlear Ltd., Freudenberg SE, Stryker Corporation, Acclarent, Inc (Johnson & Johnson), Medtronic Plc., and Olympus Corporation are the leading market players with significant market share.
Companies are using new product launches, technological advancement, market expansion, and product diversification strategies to hold their market position. For instance, in September 2019, Olympus Medical Systems Group had launched the two new rhino-laryngoscopes, ENF-VH2 and V4, with video capability to ensure better visualization during ENT procedures. These are the slim and lightweight devices for laryngological examinations specifically. This device would provide more linear insertion relative to the patient to minimize friction between the scope and the mucosa, thus facilitating smoother insertion. In December 2019, Cochlear Ltd. had received approval for its Cochlear Nucleus cochlear implant and its Nucleus 7 sound processor. The Nucleus Profile Plus implant is designed for safe use in MRI scans and offers easier access to 1.5 and 3.0 Tesla MRI scans without removing its internal magnet or using a head wrap.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for the otorhinolaryngology devices Market and their expansion across the globe. In January 2020, Smith Nephew had acquired Tusker Medical, Inc., developer of Tula, a new system for in-office delivery of ear tubes to treat recurrent or persistent ear infections. In February 2019, Stryker Corporation had acquired Arrinex, Inc that has developed ClariFix, a novel cryoablation technology for the treatment of chronic rhinitis.
The companies are raising the funding and investment to increase their market penetration. For instance, in April 2020, Diagnostic had raised the first round of more than €1.5m ($1.63M) in the capital and non-dilutive funding. This funding would be used to fund the European launch of CAVI-T, its intranasal bleeding treatment device, and pursue the development of solutions to treat chronic sinusitis. In July 2019, Dalent Medical had the closing of a USD1.5 million funding round. The funding would produce inventory and ramp up sales & marketing to support the rollout of the company's first patented product, the Sinusleeve balloon.
Key Companies to Watch
Atos Medical AG:
Overview: It is medical device company that manufactures and sells various medical devices that includes innovative products in tracheostomy and laryngectomy. It was founded in 1986 and is headquartered in Malmo, Sweden. They are providing their products and services around 90 countries.
Provox ActiValve: It is developed for patients who goes through early leakage from voice prosthesis. The ring and valve flap with blue fluoroplastic material is candida damage resistant.
Key Developments: In Nov 2021, Atos Medical was acquired by Coloplast.
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