Rhinoscope Devices Market: Introduction

  • Rhinoscope is a thin tube-like medical device used to examine the inside of the nose. It is equipped with a light and a lens.
  • Inclination toward endoscopic surgery and minimally invasive procedures is boosting the market for rhinoscope devices. Moreover, these procedures offer better patient outcomes when compared with traditional open procedures. Minimally invasive procedures offer various advantages such as smaller incisions, lesser pain, shorter hospital stay, faster recovery, and reduced scars as compared to traditional procedures. According to a study published in Surgical Solutions, LLC, there is 50% increase in the number of minimally invasive procedures in the U.S.

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Key Drivers and Restraints of Global Rhinoscope Devices Market

  • Increase in the number of cases of chronic sinusitis have fueled the demand for rhinoscope devices for diagnosis and treatment purposes. The overall prevalence of chronic sinusitis in the U.S. is 146 per 1,000 population. As per an article published in Journal of Allergy and Clinical Immunology in 2011, approximately 20% of patients with chronic sinusitis develop nasal polyposis (NP).
  • Continuous technological advancements in the sinus surgery technology is propelling the market. In order to accurately guide physicians to navigate patients’ unique sinus anatomy, image-guided sinus surgery was introduced. Balloon sinuplasty was introduced in 2005. PROPEL sinus stent is another development to optimize recovery following the endoscopic sinus surgery. Technological developments in fiber optic systems have had a positive impact on the diagnostic-therapeutic process. Moreover, advancements in the sinusitis treatment will have a positive impact on the market and contribute to its growth significantly during the forecast period.
  • Lack of skilled otolaryngologists and ENT surgeons may hamper market growth. According to an article published in hospital magazine Becker’s Health, there were 12,609 otolaryngologists practicing in the U.S. in 2017. The number is projected to fall to 12,084 by 2025 due to high attrition rate of 306 otolaryngologists per year. 

Video Rhinoscopes to Witness High Demand

  • Based on type, the global rhinoscope devices market can be segmented into video rhinoscopes and fiber rhinoscopes
  • Video rhinoscope is a rigid, traditional device, which can be used for both routine diagnostic examinations and complex, minimally invasive sinus surgeries. CMOS video rhino- laryngoscope offered by Karl Storz is a combination of a rhinoscope and a laryngoscope, which can be used in doctor’s office, house calls, or for consultation purposes.
  • Fiberoptic rhinoscope, which is a flexible type device, is expected to grow at a rapid CAGR during the forecast period due to its safe and minimally invasive diagnostic procedure

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Hospital Segment to Offer Significant Growth Opportunities

  • In terms of end-user, the global rhinoscope devices market can be divided into: hospitals, ambulatory surgical centers, and ENT clinics
  • Hospital end-user segment holds the major share of the global rhinoscope devices market, as a large number of outpatient sinus dilation procedures are performed in hospitals due to integrated healthcare facilities and availability of technologically advanced infrastructures. As per a study carried out in 2017, it was found that the number of balloon sinus procedures performed in the U.S. increased 59% annually from 2011 to 2014.
  • Increase in the number of ENT clinics, faster recovery time, cost effectiveness, and growing preference of minimally invasive surgeries are driving the ENT clinics segment. According to an article published in Becker Healthcare, in the U.S., procedures performed in ENT clinics are nearly 26%–27%, followed by ambulatory surgical centers in 2017.

North America to Lead Global Market for Rhinoscope Devices

  • In terms of region, the global rhinoscope devices market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is likely to account for a major share of the global rhinoscope devices market. Moreover, this market in North America is expected to expand at a significant CAGR during the forecast period, owing to growing awareness about disease detection, increasing incidences of ENT diseases, and adoption of technologically advanced medical devices. Government initiatives also play a major role in market growth. As per the Centers for Disease Control and Prevention, 28.9 million adults are suffering from sinusitis in the U.S.
  • Rhinoscope devices market in Asia Pacific is projected to grow at a rapid CAGR during the forecast period, owing to continuous development in healthcare and pharmaceutical industries in the region and increase in demand for ENT devices. According to an article published in the National Center for Biotechnology Information, in 2015, Chronic sinusitis affected approximately 107 million people in Mainland China.

Key Manufacturers Operating in Global Market

The global rhinoscope devices market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • Pentax Medical Corporation
  • Smith & Nephew plc
  • Olympus Corporation
  • Fujifilm Holdings Corporation
  • Medtronic plc
  • Cook Medical Incorporated
  • Richard Wolf GmbH
  • Stryker Corporation
  • Boston Scientific Corporation

Global Rhinoscope Devices Market: Research Scope

Global Rhinoscope Devices Market, by Type

  • Video Rhinoscopes
  • Fiber Rhinoscopes

Global Rhinoscope Devices Market, by Application

  • Anterior Rhinoscopy
  • Posterior Rhinoscopy

Global Rhinoscope Devices Market, by Patient Type

  • Adult
  • Pediatric

Global Rhinoscope Devices Market, by End-user

  • Hospitals
  • Ambulatory Surgical Centers
  • ENT Clinics

Global Rhinoscope Devices Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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
  • Europe
  • 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.

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