According to research report the sinus dilation devices market is expected to reach USD 2.78 billion by 2023 from USD 1.80 billion in 2018, at a CAGR of 9.1%.
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High
prevalence of chronic sinusitis, growing preference for minimally
invasive procedures, benefits of balloon sinuplasty/sinus dilation over
conventional sinus surgeries, and favorable reimbursement scenario for
sinus procedures in developed countries are the key factors driving the
growth of this market.
Balloon sinus dilation devices segment is expected to dominate the market in 2018
Based
on product, the sinus dilation devices market is segmented into balloon
sinus dilation devices, endoscopes, sinus stents/implants, and handheld
instruments. The balloon sinus dilator market is further classified as
standalone and hybrid according to the type of procedure. In 2018,
balloon sinus dilation devices are expected to account for the largest
share of the global sinus dilation devices market. This large share can
be attributed to the rising prevalence of chronic sinusitis, increasing
preference for minimally invasive surgical procedures, and the
increasing focus of market players on launching advanced balloon sinus
dilation devices.
Based on patient care setting, the ENT
clinics/in office segment is projected to grow at the highest CAGR
during the forecast period
Based on patient care setting, the
sinus dilation devices market is segmented into hospitals, ambulatory
surgical centers, and ENT clinics/in office. The ENT clinics/in office
segment is expected to register the highest CAGR during the forecast
period. The growth of this segment can be attributed to increasing
number of treatable patients in ENT clinics, faster recovery time,
cost-effectiveness, and growing preference for minimally invasive
techniques.
In 2018, North America is expected to dominate the
sinus dilator market followed by Europe. The large share of this
geographical segment is attributed to rapidly increasing geriatric
population, rising prevalence of chronic sinusitis, higher adoption of
new technologies among ENT surgeons and otolaryngologists, favorable
reimbursement scenario, and the presence of major players in this
region.
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Key
players in the sinus dilator market include The major players in the
market are Entellus Medical Inc. (a subsidiary of Stryker) (US),
Acclarent Inc. (a subsidiary of Johnson & Johnson) (US), Medtronic
plc (Ireland), Smith & Nephew plc (UK), Intersect ENT Inc. (US), and
Olympus Corporation (Japan). Other players in the market include Meril
Life Sciences Pvt. Ltd. (India), SinuSys Corporation (US), InAccel
(India), Jilin Coronado Medical Ltd. (China) and dalENT Medical (US).
These players are increasingly undertaking mergers and acquisitions, and
product launches to develop and introduce new technologies and products
in the sinus dilation devices market.
