Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Ear, Nose, and Throat (ENT) Treatment Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”
LOS ANGELES, Aug. 03, 2021 (GLOBE NEWSWIRE) -- The Global Ear, Nose, and Throat (ENT) Treatment Market is expected to grow at a CAGR of around 5.5% from 2021 to 2028 and expected to reach around US$ 30.2 Billion by 2028.
North America has held the lion's share of the ENT treatment market in the past and is expected to do so again during the forecast period. Technological advancement in ENT treatment is one of the positive factors influencing the overall growth of the ENT treatment market. Furthermore, high-quality surgical equipment and devices developed by prominent players have a significant impact on the growth of the ENT treatment market for lucrative business opportunities. For example, Medtronic developed products, specifically surgical devices for the ENT segment involving ontological burrs and drills to provide surgical accuracy. Furthermore, technological advancements in endoscopes, such as auto endoscopes and capsule endoscopes, influence and encourage customer purchasing behavior, resulting in increased revenue size of diagnostic and surgical ENT devices, which further stimulates regional growth and contributes to the overall ENT treatment market growth.
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On the other hand, the Asia Pacific ENT market will grow rapidly in the coming years, owing to rising adoption of innovative and high-priced products such as flexible scopes, RF hand pieces, and powered instruments, as well as rising volumes of nose and sinus procedures. Such factors impact positively for the growth of regional market contributing to ultimate growth of overall ENT treatment market.
COVID-19 impact analysis on global ENT treatment market
Since March 2020, COVID-19 has had a negative impact on the global ENT treatment market growth. With the number of COVID-19 positive cases increasing at an exponential rate around the world, predicting the time period for which cases must be postponed is difficult. Since 2020, all healthcare professionals who work with otolaryngologists are at high risk of contracting COVID-19. The otolaryngologists made an important observation: the virus could spread through asymptomatic patients because it is found in high concentrations in the nose and throat of both symptomatic and asymptomatic patients. Thus, surgeons performing surgery are required to use masks and maintain adequate distance from patients in the OPD, and necessary precautions must be followed and mandated. Otolaryngologists who assist and perform upper airway procedures are at high risk of infection from aerosol and droplet contamination.
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Based on current information complications, the American Academy of Otolaryngology-Head and Neck Surgery has recommended that all otolaryngologists limit patient care to those who require emergency medical conditions. Furthermore, the AAO recommends that during the COVID-19 pandemic, otolaryngologists priorities triage. As a result, in order to carry out a procedure, a thorough understanding of the precautions that must be taken for the procedures in question is required. It is critical to adhere to these precautions in order to protect both ENT surgeons and patients while dealing with this pandemic.
The global ENT treatment market is segmented based on organ type, treatment type, and end-user. Organ type is segmented as ears, nose, and throat. Treatment type is bifurcated into devices and drugs. By end-user, the market is segmented as hospitals, clinics, home care settings, and among others.
In terms of organ type, the ear segment is expected to have a dominant share during the forecast period for ENT treatment. Based on treatment type, drugs account for a significant portion of the overall growth of the ENT treatment market. Furthermore, by end-user, the hospital segment dominates the global ENT treatment market and will continue to do so throughout the forecast period.
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Major players play a vital role for driving the Ear, Nose, and Throat (ENT) Treatment market. Some of the leading competitors are Medtronic plc, Cochlear, Olympus Corporation, Smith & Nephew plc, Siemens Healthineers, Starkey Hearing Technologies, Demant A/S, and others.
Some of the key observations regarding Ear, Nose, and Throat (ENT) Treatment industry include:
In December 2017, Intersect ENT, Inc. announced that "SINUVA (mometasone furoate)" has been approved by the Food and Drug Administration (FDA). The newly launched product is a new targeted treatment for recurrent nasal polyp disease in patients who have suffered previously from ethmoid sinus surgery.
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