(PharmaNewsWire.Com, November 12, 2019 ) The high prevalence of chronic sinusitis, growing preference for minimally invasive procedures, benefits of balloon sinuplasty/sinus dilation over conventional sinus surgeries, and favourable reimbursement scenario for sinus procedures in developed countries are the major factors driving the growth of the market.
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 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 major factors driving the growth of the market. However, the dearth of skilled otolaryngologists and ENT surgeons is expected to challenge market growth to a certain extent.
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.
Based on type of patient, the sinus dilation devices market is segmented into adult and pediatric. The adult patient segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the high prevalence of chronic sinusitis in the geriatric population and the availability of several quality products specifically for adult sinusitis patients.
Based on patient care setting, the sinus dilation devices market is segmented into hospitals, ambulatory surgical centers (ASCs), and ENT clinics/In office. The ENT clinics/In office segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the 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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