ENT Diagnostic Devices Market Insights Based on Industry Size, Shares and Upcoming Trends by the end of 2028

The Fact.MR report tracks the ENT
diagnostic devices market for the period 2018-2028. According to the report,
the ENT diagnostic devices market is projected to grow at 6.1% CAGR through
2028. ENT diagnostic devices market is estimated to hit US$ 2.3 billion in
2019, according to a new study by Fact.MR. The market grew at 6.3% y-o-y in
2018 with bronchoscopes accounting for nearly one third of the global revenues.
Overall growth of the ENT diagnostic devices market can be
attributed to,

  • Advanced technology incorporations in ENT
    diagnostic devices
  • Favorable reimbursement policies for ENT
    procedures
  • Development of efficient and low-priced devices

According to Fact.MR study, the
ENT endoscopes are estimated to account for over half the revenues of the ENT
diagnostic devices market in 2019. Endoscopy has played a significant role in
the diagnosis of ear, nose and throat related diseases as well as successful
treatment outcomes. Owing to this, ENT endoscopes have become the most common
devices in the ENT clinics.

The study finds that
bronchoscopes are projected to capture over 60% of the ENT endoscope revenues
in 2019. Higher replacement rate and application for multiple indications can
be responsible for a significant revenue share of bronchoscopes. In addition,
Fact.MR finds that installation base of bronchoscopes remains higher. In the
United States alone about 27,237 bronchoscope devices were installed in 2017,
as per Fact.MR estimates. The study finds that hearing screening devices are
likely to account for the second largest revenue in the ENT diagnostic devices
market. According to Fact.MR valuation, globally, over 71,000 hearing screening
devices were installed in 2017.

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Portable
Devices Register Leading Revenues, Popularity of Hand-Held and Fixed Devices
Continues

Fact.MR finds that end users of
ENT diagnostic devices prefer portable devices. However, preference for
hand-held and fixed devices remains comparable. Owing to their distinct
functions, portable, hand-held and fixed devices continue to hold nearly equal
market share.

North
America and Europe Collectively Held over 58% Revenue in 2018

The study finds that the ENT
diagnostic devices market revenues remain heavily consolidated in North
America, Europe and APEJ regions. Collectively, markets in these regions
accounted for over four fifth share of the global revenues in 2018. North
America was found to spearhead the ENT diagnostic devices market. A significant
population in the United States is suffering from ENT disorders such as
sinusitis and tinnitus. In addition, prevalence of lung cancer, the second most
common cause of cancer in the U.S. is rising. Advanced healthcare
infrastructure and favorable reimbursement scenario that covers ENT procedures
in the region are responsible for the leading share of the ENT diagnostic
devices market. 

According to the study, Europe
represents the second largest ENT diagnostic devices market and the status-quo
is likely to continue in the future on the back of established healthcare
facilities in the regions. APEJ is another lucrative market for ENT diagnostic
devices with an impressive growth rate. In addition, ameliorating economic
standards and improving accessibility to healthcare facilities present gainful
opportunities for the ENT diagnostic device manufacturers.

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The study reveals that Top 5
players in the ENT diagnostic devices market hold 56% of the market share. The
remaining share is distributed among mid and small-sized players as well as
start-up companies. Successful penetration of start-up devices in the emerging
markets is expected to eat into the shares of leading players in the future.

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