Global ENT Surgical Devices Market – Overview
ENT surgical devices are mainly used for diagnosing, treating, or doing surgery related to disorders concerning ear, nose, and throat. They help in clearing problems such as speaking, snoring, smelling, or hearing. There is wide range of ENT surgical devices available in the market. Rising prevalence of ENT disorders and preference towards minimally invasive surgeries is expected to drive the growth of the global market in the coming years of the forecast period.
Global ENT Surgical Devices Market – Notable Developments
Some of the prominent developments in the global ENT surgical devices market are given below:
- In February 2018, Stryker Corporation announced the completion of acquisition Entellus Medical, a leading provider of minimally invasive medical technology of ENT disease states.
- In May 2018, Johnson & Johnson’s Acclarent in collaboration with Bioscience Webster launched TruDi ENT navigation system with a real-time 3D navigation system.
- In October 2018, Carl Zeiss Meditech AG announced the launch of TIVATO 700 and EXTARO 300 microscopes with improved visualization and enhanced workflow augmentation concept based on an all-digital approach for ENT procedures.
- In March 2018, Olympus Corporation launched ENF-VT3, the world’s first rhino-laryngo videoscope with an aim to incorporate 4-direction angulation capability.
- In December 2017, Intersect ENT announced FDA approval of a new sinus implant SINUVATM which is an in-office treatment option for recurrent nasal polyps.
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Some of the key players in the global ENT surgical devices market are Medtronic plc (Ireland), Olympus Corporation (Japan), KARLSTORZ GmbH & Co (Germany), Stryker Corporation (U.S.), Smith & Nephew plc (U.K.), Acclarent, Inc. (U.S.), Hoya Corporation (Japan), Sonova Holdings AG (Switzerland), William Demant Holdings A/S (Denmark), and Cochlear Limited (Australia)
Global ENT Surgical Devices Market – Drivers and Restraints
There are multiple factors that are expected to drive the overall development of the global ENT surgical devices market. One of the key driving factors for the market development has been the increasing prevalence of ENT disorders across the globe, particularly among pediatric population. ENT surgical devices marketplace covers a broad range of surgical instruments and equipment. Spurred by evolving demand trends and increased focus on health-based delivery model, technology integration has disrupted the medical devices landscape. In a way, ENT surgical devices market remains established wherein the dynamism is maintained by advanced technology integrations.
Another important factor for the development of the global market has been the increasing preference towards minimally invasive surgeries. Moreover, rapid developments in the field of medical technologies are also projected to help the development of the global market in the coming years of the forecast period.
Furthermore, the growing prevalence of ENT disorders have led to governments offering reimbursement support to patients. Favorable reimbursement policies are also likely to help the development of the global ENT surgical devices market in the coming years of the forecast period.
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Global ENT Surgical Devices Market – Geographical Outlook
In terms of geographical segmentation, the global ENT surgical devices market is divided into five key regions. These regions are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, currently the global market is being dominated by the regional segment of North America. Presence of a highly matured healthcare infrastructure is one of the key factors that is driving the growth of the North America market. In addition to this, presence of several notable players is also another factor that has been influencing the development of the North America market.
On the other hand, the regional segment of Asia Pacific is expected to witness a highly promising rate of growth in the coming years of the forecast period. The growth of the market can be attributed to increasing demand from emerging economies such as India and China.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.