April 27, 2020
According to the research report titled ‘Sinus Dilation Devices Market Size By Product, By Procedure, By End-use Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global sinus dilation devices market is expected to surpass USD 3 billion by the year 2025.
Shifting preferences towards sinus dilation devices among patients suffering from chronic sinusitis is a major factor driving the market growth. The market is further predicted to witness growth owing to evolving consumer lifestyle, increasing pervasiveness of comorbid diseases and other environmental factors.
Rising elderly population who are prone to numerous diseases along with development of innovative and advanced devices are fostering the demand for sinus dilation devices across the globe. Consumer inclination towards minimally invasive procedures, favorable reimbursement scenario, and availability of advanced healthcare infrastructure are also stimulating the industry outlook. However, high costs associated with the product and easy accessibility to sinus drugs have hampered the adoption of sinus dilation devices in emerging economies, which is restraining the overall market growth.
As per product type, sinus implant segment was worth USD 279.2 million in 2018 and is presumed to expand continuously throughout the forecast period. Technological advancements in the sinus dilation devices and increasing production of novel products are fueling the segmental growth.
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In terms of procedure type, hybrid sinus dilation procedure segment is expected to grow with a CAGR of 9.1% through 2025. High success rate of hybrid sinus dilation procedures is positively influencing the market scenario.
Citing the end-use landscape, ambulatory surgical centers segment held 27.2% revenue share in 2018 and will witness robust growth throughout the study period. ASCs are well-equipped and offer affordable treatment.
As per the regional landscape, U.S. accounted for 90% revenue share of North America sinus dilation devices industry in 2018 and is poised to record a remunerative growth rate through 2025. Factors such as high occurrence rate of sinusitis, growing demand for advanced products and availability of modern healthcare infrastructure are promoting the business scenario in the U.S.
Meanwhile, sinus dilation devices market in China reckoned to witness a y-o-y growth rate of 11.6% through 2025. Rising geriatric population who are vulnerable to chronic diseases, escalating healthcare expenditure and increasing patient awareness pertaining to advanced treatments are augmenting the regional share.
The prominent companies in worldwide sinus dilation devices industry are Creganna Medical, Meril Life Sciences, Jilin Coronado Medical, Olympus Corp., InAccel, SinuSys Corp., Intersect ENT, Medtronic, dalENT Medical, Entellus Medical and Acclarent among others.
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