Cognizance into Sinus Dilation Devices Market and it’s growth prospects
Category: #business  By Rahul Varpe  Date: 2020-03-26
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Cognizance into Sinus Dilation Devices Market and it’s growth prospects

Sinus Dilation Devices Market will exceed USD 3 billion by 2025; as per a new research report.

Escalating demand for advanced sinus dilation devices in patients with chronic sinusitis is the key impact rendering factor that drives the business growth. According to the Center of Disease Control and Prevention, more than 30.5 million people in the U.S. were suffering from sinusitis in 2017. Changing lifestyle, comorbid diseases and environmental factors may further surge the number of people suffering from sinusitis thereby increasing the demand for sinus dilation procedures. Moreover, growing patient preference towards minimally invasive procedures will favor the sinus dilation devices market growth.

Geriatric population base prone to various diseases due to structural and functional changes will render positive impact on the business growth over the forecast period. Focus of companies on development of novel and advanced devices will boost the industry growth. Furthermore, favorable reimbursement scenario in developed countries coupled with well-developed healthcare infrastructure will surge the adoption of these procedures. However, low adoption of sinus surgeries in underdeveloped countries owing to high costs and availability of sinus drugs may impede sinus dilation devices industry growth over the coming years.

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Sinus implants segment was valued at USD 279.2 million in 2018 and is projected to grow significantly during the forecast timeline. Continuous innovations and technological improvements in sinus dilation devices will foster the industry growth. Increasing focus of companies such as Intersect ENT on development of advanced devices that improve post-surgical result will positively impact the segment growth.

Hybrid sinus dilation procedures is anticipated to experience 9.1% CAGR by 2025. Hybrid sinus dilation procedure, a combination of functional endoscopic sinus surgery (FESS) with standalone sinus dilation facilitates procedural performance. High success rate of these procedures along with its benefits over conventional sinus procedures will contribute to the segmental growth.

Ambulatory surgical centers (ASCs) segment accounted for 27.2% revenue share in 2018 owing to their increasing patient preference for disease treatment. ASCs are well-equipped advanced healthcare facilities offering shorter stay and efficient disease treatment at affordable prices. Rising prevalence of sinusitis and growing patient preference towards these centers will propel segmental growth over the coming years.

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U.S. sinus dilation devices market dominated the North America region with more than 90% revenue share in 2018. The growth is attributed to rising incidence of sinusitis in the U.S. and high patient demand for technologically advanced products. Well-established healthcare infrastructure coupled with fair reimbursement policies will boost business growth during the forthcoming years.

China sinus dilation devices accounted for considerable revenue share in 2018 and is estimated to witness lucrative CAGR of 11.6% over the forecast period. Large patient base prone to chronic diseases, increasing patient awareness regarding advanced treatments and rising healthcare expenditures in the country will drive the business growth. Moreover, healthcare reforms in the country will further accelerate the sinus dilation devices market growth.

Some of the prominent business players operating in sinus dilation devices market include Acclarent, Entellus Medical, dalENT Medical, Medtronic, Intersect ENT, SinuSys Corporation, InAccel, Olympus Corporation, Jilin Coronado Medical, Meril Life Sciences and Creganna Medical. Industry competitors are mainly focusing on inorganic strategies such as partnerships, merger and acquisitions to escalate their market position as well as strengthen product portfolio.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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