New York, May 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "ENT Devices Global Market Report 2022" - https://www.reportlinker.com/p06277151/?utm_source=GNW
The global ent devices market is expected to grow from $27.1 billion in 2021 to $30.21 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The market is expected to grow to $44.73 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%.
The ENT devices market consists of sales of ENT devices and related services by entities (organizations, sole traders, and partnerships) that produce ENT devices used in the diagnosis and treatment of ear, nose, and throat diseases.
The main types of ENT devices are hearing aid devices and equipment, hearing diagnostic devices and equipment, ENT surgical devices and equipment, hearing implants, voice prosthesis devices and equipment, and nasal splints.A hearing aid device is an electronic device that is worn in or behind the ear.
It makes sounds louder so that a person with hearing loss can listen, communicate, and participate fully in daily activities.The type of expenditure is public and private.
The products used are instruments/equipment, and disposables. The various end-users are hospitals and clinics, diagnostic laboratories, and others.
Asia Pacific was the largest region in the global ENT devices market in 2021.North America was the second largest region in the global ENT devices market.
Africa. was the smallest region in the global ENT devices market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Many governments across the world have introduced new healthcare acts and continuously increased healthcare spending.Healthcare coverage and expenditure also increased significantly.
In 2021, the Indian government launched Ayushman Bharat PradhanMantri Jan ArogyaYojana (AB-PMJAY) is providing health assurance cover of up to ?5 Lakh per year per family for secondary and tertiary healthcare hospitalizations. The healthcare services market in the UK increased by $300.8 billion in 2019. Favorable government decisions and increased healthcare spending increased the demand for healthcare services and this drove the demand for ENT devices during this period.
Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period; this is expected to limit new investments in the market.Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country.
This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, the US interest rates are expected to rise to 3.5% by 2021.
These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the market growth.
ENT device manufacturers are investing in technologies to develop user-friendly and non-invasive equipment.They are continuously investing funds and resources into R&D to increase the scope of their devices.
For instance, Intersect ENT developed Propel Mometasone Furoate Implant (PMFI) to treat chronic sinusitis.It is a bio-absorbable steroid that is placed directly into the sinus mucosa.
It controls the release of drugs and dissolves over time.In another breakthrough in sinusitis treatment, SinuSys Corporation received FDA approval for its Vent-Os Sinus Dilation device.
It is a small, low-pressure insert that is designed to gently open the sinus ostia and use the body’s natural mucosal fluids to expand the device.
The countries covered in the ENT devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Read the full report: https://www.reportlinker.com/p06277151/?utm_source=GNW
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