Global Sinus Irrigation Systems Market: Introduction
Sinuses are hollow cavities and connected systems present in the human skull. The cheekbones hold the maxillary sinus, which is the largest sinus. The frontal sinus is located near low center of the forehead; the ethmoid sinus is present between the eyes; while the sphenoid sinus is located in the bone behind the nose. Sinus irrigation systems help in clearing the nostrils and washing out mucus and allergens.
Global Sinus Irrigation Systems Market: Competition Landscape
Key players operating in the global sinus irrigation systems market are Medtronic Plc., Neilmed Pharmaceuticals Inc., Medstar Co. Ltd., Air Liquide Medical Systems, Sinh2ox Health & Care, Heal Force, Bremed Ltd., WelbuTech, CHAMMED, and RhinoSystem, Inc. The market is highly fragmented with the presence of a large number of manufacturers. Increase in strategic collaborations and new product launches is expected to drive the global market during the forecast period.
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Medtronic plc is a prominent global company that offers medical technologies, services, and solutions. Medtronic operates through four business segments: cardiac & vascular group, diabetes group, restorative therapies, and minimally invasive therapies. Through these segments, the company caters to hospitals, physicians, clinicians, and patients in approximately 160 countries.
Global Sinus Irrigation Systems Market: Dynamics
The sinus irrigation systems market is driven by various factors at global, regional, and country levels. Increasing prevalence of respiratory diseases and growing number of smokers are major factors contributing to the global sinus irrigation systems market. Risen prevalence of allergy and flu is also estimated to augment the global sinus irrigation systems market further during the forecast period. Furthermore, rise in investments by public and private sectors for the advancement in health care and surge in technological innovations are projected to propel the global market during the forecast period. Moreover, the existing market players are deploying advanced techniques to develop new processes for the development of technologically advanced sinus irrigation systems. This is anticipated to boost the demand for sinus irrigation systems during the forecast period. However, low awareness among people, especially in developing regions, is likely to restrain the global sinus irrigation systems market during the forecast period.
Increase in Prevalence and Incidence of Respiratory Diseases to Drive Global Market
The prevalence of respiratory diseases has been rising globally over the last decade. With the increase in elderly population, chronic respiratory disorders is becoming a prominent cause of disabilities and deaths. According to the Forum of International Respiratory Societies (FIRS), COPD affects more than 200 million people globally and is the fourth-largest cause of death in the world, while asthma affects about 235 million people worldwide.
Increasing Population of Smokers to Boost Global Market
The number of smokers across the world is large. Although the U.S. has witnessed a decline in the percentage of smokers, there are still 40 million smoker adults in the country. Of these, 20 million are likely to die prematurely unless they quit smoking. Furthermore, exposure to passive smoking raises the level of complications among people suffering from asthma and COPD. According to the American Lung Association, exposure to passive smoking can cause more than 202,000 asthma outbreaks among children in U.S. every year.
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According to the WHO, tobacco kills more than 6 million people every year globally. Of these, more than 600,000 are non-smokers killed due to exposure to passive smoking. This alarming statistics indicate that rise in the addiction of smoking and increase in the number of smokers are likely to propel the sinus irrigation systems market.
Global Sinus Irrigation Systems Market: Segmentation
Based on product type, the global sinus irrigation systems market can be divided into:
- Manual Sinus Irrigation Systems
- Electric Sinus Irrigation Systems
- Battery-powered Sinus Irrigation Systems
In terms of end-user, the global sinus irrigation systems market can be segregated into:
- ENT Clinics
- Homecare Settings
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.