Sinus Dilation Devices Market : Emerging Trends, Business Growth Opportunities, Major Driving Factors
5 min read
Advances in endoscopic techniques have expanded the scope of different sinus dilation devices market in ENT care. The sinus dilation devices market has reaped a substantial revenue gains from the growing clinical acceptance of balloon sinuplasty (BS) among otolaryngologists and patients. Growing uptake in patients with chronic rhinosinusitis is a case in point. The global ENT industry has been quick to adopt systems that reduces the total cost of care for patients, thereby augmenting the prospect of BS in office settings.
Meanwhile, new avenues in the sinus dilation devices market have been fueled by research and development of new type of devices particularly sinus stents that are of the drug eluting type. The segment will contribute to the revenue of the global market at rapid rate. Further, over the years, numerous standalone sinus procedures have been gathering steam in patients.
Some of the well-entrenched players in the sinus dilation devices market are Smith & Nephew plc, Medtronic Plc, KARL STORZ, Olympus Corporation, Stryker ltd., and Meril Life Sciences Pvt. Ltd.
The global sinus dilation devices market stood at US$2021.4 in 2017 and is projected to clock a CAGR of 8.2% during 2018–2026.
Focus on Expanding the Continuum of Care in ENT Catapults North America to Prominence
Constant focus on expanding the continuum of care has unleashed a spirit of innovation among medical makers and endoscopy manufacturers, especially in developed nations. More notably, this has been fueling the prospects of the North America sinus dilation devices market over the past several years. Together with Europe, it accounted for more than three-fourth of the regional shares in the global sinus dilation devices market. Uptake of cutting-edge technologies for sinus surgeries in the nations of these regions is factor upholding the high growth in these regional markets.
More recently, new untapped avenues in Asia Pacific has motivated several players to shift their attention there. Especially Japan and India are becoming emerging markets with growing populations with sinusitis.
Balloon Catheter Dilation Techniques Gain Popularity
Growing demand for minimally-invasive procedure for patients with chronic rhinosinusitis is one of the key trends boosting the sinus dilation devices market. The advent of sinus dilation devices has complemented endoscopic sinus surgery procedures.
Growing acceptance of balloon catheter dilation for the treatment of chronic rhinosinusitis has considerably expanded the revenue potential in the sinus dilation devices market. They are frequently being adopted for functional endoscopic sinus surgery. The trend has been fueled by patients moving from inpatient to outpatient settings for the treatments in various parts of the world. The prevalence of chronic rhinosinusitis has also spurred candidates for balloon catheter dilation, as is evident in case of chronic rhinosinusitis.
Design advances have led to advent of sinus dilation devices that can navigate difficult sinus anatomy. These have increased the scope of new systems in the sinus dilation devices market. Growing utilization balloon catheter dilation tools among surgeons in developed countries is boosting the market. Expanding guidelines in key regions pertaining to key indications for balloon sinuplasty help cement the prospects.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Sinus Dilation Devices (Balloon Sinus Dilation, Sinus Stents, Endoscopy (Rhinoscopes and Sinuscopes), FESS Instruments; Procedure – Standalone and Hybrid; Patient Type – Adult and Pediatric; End User – Hospitals, Ambulatory Surgical Centers, and ENT Clinics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018–2026.”
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