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Sinus Dilation Devices Market Growth Outlook with Industry Review and Forecasts 2020-2026
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Sinus Dilation Devices Market share by applications and regions for 2020- 2026 • With about 13% to 17% U.S citizens being diagnosed with rhinosinusitis, it is integrally important that various ENT clinics and hospitals around the country begin deploying sinus dilation devices to treat this common health problem, which on a global scale, affects around 5% to 13% population. In fact, the rising prevalence of this condition has urged various manufacturers to go nine yards for developing effective treatment devices, which would not only add to the customer satisfaction, but would also allow the company to be a step ahead from others in the robust competitive space. • As per news sources, the device is a disposable, single-use product which is abundantly used for treating chronic sinusitis and is fit over flexible and reusable positioning and suction devices by way of a conforming sleeve. It is capable of accommodating instrumentation of distinctive sizes and curves, slowing access, simultaneous suction and balloon dilation all in one. Such initiatives are tentative of opening newer growth prospects for the overall sinus dilation devices market © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
Speaking of balloon dilation, it is pivotal to note that balloon sinus dilation devices segment held a business share of USD 610 million in 2019 and is predicted to grow at an unprecedented pace in the following years. This can be ascribed to rising preference for balloon sinus dilation procedures, given its superior efficiency and safety. In addition to these, medical as well as insurance companies are also looking forward to providing reimbursement for procedures that call out for use of such devices. • Not to mention, balloon dilation devices boast of significant merits including reduced dependence on pain medication, les risk of post-operative infection, and minimized risk of tissue damage; that have been adding to the adoption of these devices in hospitals and clinics on a much larger scale today. • Considering the implementation of these devices, it has been observed that sinus dilation devices are largely being used in hospitals owing to the gradually surging number of outpatient sinus dilation procedures. It was cited that the segment acquired a largest revenue share of USD 902 million in 2019 and is projected to grow at a similar trend in the upcoming year. Also, it is important to pinpoint that ongoing COVID-19 pandemic has also escalated the number of patients suffering in sinusitis, dynamically elevating the demand for such devices across the hospitals. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
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Regional Analysis • Sinus dilation devices industry is well diversified into some of the major economies including China, the United States, and others. Of these, China is set to produce massive gains across the market, looking forward to depicting a CAGR of 11 per cent through 2026, given a robust presence of large patient pool in conjugation with prolific rise in healthcare expenditure in the country. Believing the statistics put forth by National Center for Biotechnology Information, nearly 107 million people in China suffer from chronic sinusitis annually. Besides, increased patient cognizance regarding presence of advanced treatments in the country is as well supporting the growth of market in the region. • Competitive Analysis • Companies covered in sinus dilation device market: Acclarent, Creganna Medical, dalENT Medical, Entellus Medical, InAccel, Intersect ENT, Jilin Coronado Medical, Medtronic, Meril Life Sciences, Olympus Corporation, SinuSys Corporation © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com
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