Global ENT Devices Market Size To Cross USD 21.61 Bn By 2026 – Market Data Forecast

As per our research report, the global ENT devices market size is estimated to value USD 21.61 billion by 2026 and grow at a CAGR of 7.4% during the forecast period.

The COVID-19 pandemic has significantly affected the demand for ENT devices worldwide. This was due to the drastic reduction in the number of inpatient and outpatient services for other illnesses and implementing infection prevention and control measures. As a result, the number of procedures for detecting and diagnosing ENT diseases has been drastically reduced. Although in early 2021, the market has recovered slightly with social distancing and normalization of hospital regulations.

The global ENT devices market is primarily driven by the increasing incidence of ENT disorders across the globe like sinusitis, tonsillitis, tinnitus, pharyngitis, etc. Due to this, there is high demand for various ENT treatments, such as endoscopic sinus surgeries, functional endoscopic sinus surgery, balloon sinus dilation, etc. According to the Centre for Disease Control and Prevention (CDC), in the United States, about 12.18% of the adult population or 29.48 million people have chronic sinusitis. Additionally, over 0.55 million surgeries are performed annually to treat chronic sinusitis in the United States. According to the NHS, chronic sinusitis is a prevalent condition in the United Kingdom, affecting 10% of the total adult population. According to the National Institute of Allergy and Infectious Diseases, chronic sinusitis affects around 135 million people in India.

According to WHO estimates, more than 468 million people worldwide have disabling hearing loss, and ear infections are the leading cause. Almost 6.18% of the world’s population, or 438 million of this population, are adults (245 million men and 192 million women), and 35 million (7.5%) of them are children. About a third of the population over 65 suffers from disabling hearing loss. In addition, the government of emerging economies is actively supporting the development of ENT procedures. The government has also taken several initiatives to reduce the prices of ENT surgeries that will address affordability issues, fuelling the growth of the market.

The ENT devices market has many growth opportunities due to the presence of favorable reimbursement policies and regulations associated with sales and distribution.

However, the high cost of purchasing and investing in ENT devices is slowing the market’s growth. In addition, other factors such as lack of awareness of the full potential of ENT devices, insufficient medical investments, and poor healthcare facilities in some underdeveloped countries will result in harming the market growth.

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Source: https://www.marketdataforecast.com/blog/global-ent-devices-market