According to research report the sinus dilation devices market is expected to reach USD 2.78 billion by 2023 from USD 1.80 billion in 2018, at a CAGR of 9.1%. The sinus dilation devices market, by product, is segmented into balloon sinus dilation devices, endoscopes, sinus stents/implants, and handheld instruments. In 2018, the sinus stents/implants segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to their drug eluting functionality and reduced scarring and inflammation.
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High prevalence of chronic sinusitis, growing preference for minimally invasive procedures, benefits of balloon sinuplasty/sinus dilation over conventional sinus surgeries, and favorable reimbursement scenario for sinus procedures in developed countries are the key factors driving the growth of this market.
Based on patient care setting, the ENT clinics/in office segment is projected to grow at the highest CAGR during the forecast period
Based on patient care setting, the sinus dilation devices market is segmented into hospitals, ambulatory surgical centres, and ENT clinics/in office. The ENT clinics/in office segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to increasing number of treatable patients in ENT clinics, faster recovery time, cost-effectiveness, and growing preference for minimally invasive techniques.
Among the four regional segments covered in the sinus dilation devices market—North America, Europe, Asia, and the Rest of the World (RoW). Geographically, the sinus dilation devices market in the Asian region is expected to register the highest CAGR during the forecast period. Growth in this regional segment is largely driven by the increasing disposable income and improving standards of living in this region, large population base, increasing medical tourism, and high prevalence of sinus-related diseases in the region.
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Key players in the Sinus Dilation Devices Market include The major players in the market are Entellus Medical Inc. (a subsidiary of Stryker) (US), Acclarent Inc. (a subsidiary of Johnson & Johnson) (US), Medtronic plc (Ireland), Smith & Nephew plc (UK), Intersect ENT Inc. (US), and Olympus Corporation (Japan). Other players in the market include Meril Life Sciences Pvt. Ltd. (India), SinuSys Corporation (US), InAccel (India), Jilin Coronado Medical Ltd. (China) and dalENT Medical (US). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the sinus dilation devices market.
Mr. Aashish Mehra
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