05 September 2019
Visiongain has launched a new pharma report Sinus Dilation Devices Market Report 2019-2029: By Product (Balloon Sinuplasty System, Functional Endoscopic Sinus Surgery (FESS) Instruments Set, Rhinoscopes, Sinus Stents, Sinuscopes), Procedure (Standalone Sinus Dilation Procedures, Hybrid Sinus Dilation Procedures), Patient Type (Adult Patients, Pediatric Patients), End User (Ambulatory Surgical Centers (ASCs), ENT Clinics, Hospitals & Clinics).
Global sinus dilation devices market is anticipated to grow on account of growing awareness for minimally invasive surgeries in developing economies of Asia Pacific coupled with technological advancements and favorable reimbursement scenario among other prominent driving factors. The global sinus dilation devices market is anticipated to grow at a lucrative CAGR of 8.3% and anticipated to reach USD 4.37 Billion by 2029.
Also, increasing demand for technologically sophisticated and efficient machines will increase market growth over the coming years for the sinus dilation systems. Increasing focus on new product development and product upgrading by important industry players will affect company growth. Patient preference for minimally invasive processes due to reduced blood loss, less recovery time and shorter hospital stays will boost the acceptance of processes for sinus dilation, thereby accelerating the company development of sinus dilation products.
Furthermore, the lower adoption rate of sinus dilation procedures in poor economies of the world due to risks associated with sinus surgeries and availability of sinusitis drugs may hinder the growth of sinus dilation devices market over the forecast period.
The increasing incidence of sinusitis is anticipated to fuel the growth of global sinus dilation devices. According to the CDC, over 10% of the population in the 18-year-old age group in the U.S. has sinusitis. The rising rate of chronic sinusitis is anticipated to provide the manufacturers of sinus dilation devices with elevated growth possibilities.
North America holds majority of market share followed by Europe. Growth is attributed to rising awareness for sinus dilation devices in the region. According to the 2013 U.S. CDC statistics, chronic sinusitis has affected over 25 million individuals in the U.S. and is listed among the ten most expensive physical health circumstances. New sinus dilation products are anticipated to boost the demand for fast treatment over the forecast period.
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to owing to its high population base, growing disposable income, and improvement in patient awareness about sinus surgical procedures. Furthermore, rising adoption of minimally invasive procedures and technologically advanced products due to penetration of healthcare insurance system, unmet needs of patients and untapped areas in this region have been attracting global players and this is expected to boost revenue generation over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global sinus dilation devices market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the market.
For example, in 2016, Acclarent, Inc. announced the availability of the RELIEVA SCOUT ® which is a multi-sinus dilation system in the United States. The system uses balloon sinuplasty technology to reliably dilate and confirm sinus openings in chronic sinusitis patients. The new system enables surgeons expand the openings of the sinus efficiently, using a minimally invasive procedure that curtails trauma along with protecting the natural anatomy of the patient.
The comprehensive market report features companies such as Accurate Surgical & Scientific Instruments Corporation, Creganna Medical, Dalent LLC., Entellus Medical Inc. (Stryker), Intersect ENT Inc., Jilin Coronado Medical Ltd., Johnson & Johnson (Acclarent Inc.), KARL STORZ SE & Co. KG, Medtronic Plc., Meril Life Sciences Pvt. Ltd., Olympus Corporation, Sklar Surgical Instruments, Smith & Nephew Plc., and Valeant pharmaceuticals International Inc. (Bausch & Lomb Incorporated) among other prominent players.
Also the research study offers market estimation and forecast for the period ranging 2019–2029 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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