PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1264992
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1264992
Global ENT devices market is slated to record substantial gains through 2032, pushed by the growing technological innovations in ENT devices. Moreover, players in the field have been focusing on devising hearing aids with integration capabilities to help users track their cognitive hearing. Citing an instance, in November 2022, Cochlear, a medical device company, received U.S. FDA clearance for its Nucleus® 8 Sound Processor, the smallest behind-the-ear cochlear implant sound processor, offering direct connectivity to daily consumer electronics via Bluetooth.
Overall, the ENT devices industry is segmented in terms of product, end-use, and region.
On the basis of product, the ENT devices market from the surgical ENT devices segment is poised to register noteworthy gains through 2032, owing to the growing occurrence of ENT disorders such as oral cancer, temporal bone cancer, and others that require surgeries for treatment. As per the American Cancer Society, in 2023, around 54,540 new cases of oropharyngeal cancer are estimated to be diagnosed in the U.S. alone. Furthermore, recent advancements in surgical equipment, such as image-guided surgery systems, have increased their applications in otorhinolaryngology, presenting lucrative opportunities for segment growth.
In terms of end-use, the ENT devices industry from the ENT clinics segment is anticipated to record a valuation of over USD 7 billion by 2032 on account of rising demand for advanced surgical and diagnostic procedures. These facilities also have strong availability of advanced diagnostic devices and skilled healthcare professionals resulting in increased patient footfall. Moreover, governments across the globe are investing ample amounts in ENT clinics, which is further set to augment segment growth.
From the regional perspective, the Europe ENT devices market garnered over USD 6 billion in 2022. The growing prevalence of ENT disorders has accentuated the need for ENT devices in the region. As per WHO, more than 190 million people in the WHO European Region have some degree of hearing loss.
Moreover, the robust presence of major industry leaders such as Sonova Holding AG, Lumenis Be Ltd, and others constantly indulging in innovating new products is also fueling regional expansion. For instance, in January 2023, Sonova Holding AG, a Swiss hearing care solutions provider, announced the launch of Sennheiser Conversation Clear Plus earbuds, new speech-enhanced hearable solutions to help users improve their comprehension in loud environments. This launch helped the company establish a new category of early-entry hearing solutions.