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ENT Devices Market is expected to reach US$ 32,934.09 million by 2030

The ENT devices market is set to record sales of US$ 32,934.09 million by 2030. Future perceptions on product & end-user.

By The Insight Partners

Hospitals Segment Expected to Hold Significant Market Share of ENT Devices Market During 2022 - 2030

According to our latest study on “ENT Devices Market Forecast to 2030 – Global Analysis – Product and End User,” the market is expected to grow from US$ 20,008.94 million in 2022 to US$ 32,934.09 million by 2030; it is anticipated to record a CAGR of 6.4% from 2022 to 2030. The report emphasizes the key factors driving the market and prominent players' developments. Factors such as the growing prevalence of ENT disorders and the rapidly growing elderly population propel the global ENT Devices Market growth. However, the high cost of the devices followed by surgeries impedes the growth of the market.

Over the last 10 years, ENT devices have been transformed entirely. These once-basic ENT devices have become multifunctional medical instruments and are projected to evolve further. These latest devices in the market are moving from a basic to a complex digital assistant. AI also holds further huge potential within ENT devices. Integrating machine learning and artificial intelligence (AI) in hearing devices is becoming a popular trend in the market. A deep learning model was employed to determine the hearing outcomes for patients who had suffered sudden sensorineural hearing loss. There is currently no well-accepted and accurate predictive system. 149 predictive variables were identified among 1,220 patients in ‘Predicting the hearing outcome in sudden sensorineural hearing loss via machine learning models’study. It showed that the AI model was far more accurate than a conventional logistical regression method of analysis. However, this only proved true with large data variables.

ENT Devices Market, by Region, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPMD00002671

Source: The Insight Partners Analysis

The advent of AI is leading to the development of in-built smart services for patients, such as adaptive sound and active noise cancellation. New technologies, such as machine learning, multimodal signal processing, and mobile health technology, are expected to improve speech enhancement, individual fitting, and communication training, thereby offering better support for all hearing-impaired patients, including older patients with disabilities or declining cognitive skills. The Zeno AI system, which analyzes images in real time during laryngoscopy, is currently under evaluation by European regulatory authorities and may be commercially available in Europe soon. Although many researchers are investigating potential applications of AI in otolaryngology, no AI-based tools have yet been approved for clinical use in otolaryngology in the US; this is because the field lacks large, labeled datasets that can be used to train computer algorithms. Thus, use of advanced technologies such as AI and machine learning acts as an ENT Devices Market trend. 

ENT Devices Market, by Product:

Based on product, the ENT Devices Market is divided on the basis of diagnostic devices, surgical devices, hearing aids, hearing implants, and others. The surgical devices segment held the largest market of ENT Devices Market share in 2022 and is expected to record the highest CAGR during 2022–2030. ENT surgical devices include powered surgical instruments, radiofrequency handpieces, handheld instruments, balloon sinus dilation devices, ENT supplies, ear tubes, and voice prosthesis devices.

Increasing demand for minimally invasive surgeries to address ENT concerns and technological advancements in surgical ENT devices. Such factors are expected to positively influence the ENT Devices Market size.

By end users, the market is segmented into ENT clinics, hospital and ambulatory centers, and others. The hospitals and ambulatory centers segment held the largest ENT Devices Market share in 2022 and is projected to record the highest CAGR during the forecast period. The hospital and ambulatory centers segment is anticipated to lead the market due to the growing number of ENT surgeries in ambulatory centers and outpatient facilities of hospitals. Hospitals are complex organizations that provide healthcare services such as disease screening, diagnosis, and treatment with the help of modernized equipment. The increasing number of admissions in hospitals, coupled with a high prevalence of ENT diseases and disorders, fuels the market growth the segment.

Apart from factors driving the market, the ENT Devices Market report emphasizes prominent players' developments. Innovia Medical, Sony Electronics, Cochlear Limited, Karl Storz SE & Co. KG, Medtronic PLC, Stryker Corporation, Smith & Nephew PLC, Johnson & Johnson MedTech, Olympus Corporation, and Advanced Bionics are a prominent player operating in the market. These companies adopt product innovation and product development strategies to meet growing customer demands, which allows them to maintain their brand name. These initiatives by the companies to expand their portfolio and their presence is expected to increase the ENT Devices Market growth in the forecast period.

The ENT Devices Market analysis has been carried out by considering the following segment product and end user, and geography. Based on product, the ENT Devices Market analysis is carried out by considering the following segments: diagnostic devices, surgical devices, hearing aids, hearing implants, and others. By end users, the market is segmented into ENT clinics, hospital and ambulatory centers, and others. Based on geography, the ENT Devices Market report is primarily divided into, North America (the US, Canada, and Mexico), Europe (Germany, the UK, Italy, Spain, France, and the Rest of Europe), Asia Pacific (Japan, China, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Increasing product developments leads to several market players offering new products help in the market expansion. The strategic presence of key players positioned North America as a key region for the growth of the ENT Devices Market in 2022.

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