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(Medical-NewsWire.com, May 23, 2019 ) According to research report the global 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 growth of the market can be attributed to 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.
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Benefits of balloon sinuplasty / sinus dilation over conventional sinus surgeries to drive the growth of sinus dilation devices market
Hospitals
Hospitals is one of the patient care settings where sinus dilation devices are extensively used.
This segment holds the largest market share due to high number of outpatient sinus dilation procedures, the advantages of having integrated healthcare facilities, the availability of technologically advanced infrastructures, and the ability to perform complex sinus surgeries.
Ambulatory Surgical Centers (ASCs)
Ambulatory surgical centers (ASCs) provide healthcare services and primary care to patients in an outpatient capacity. The minimally invasive procedure such as balloon sinus dilation can be easily performed in ASCs. Factors such as better infrastructure in ASCs are driving the growth of this segment. The cost-effectiveness coupled with the better reimbursement scenario than hospitals is also driving the growth of this segment.
ENT Clinics/In Office
Increasing number of treatable patients in ENT clinics, faster recovery time, cost-effectiveness, and growing preference for minimally invasive techniques are some of the factors driving the growth of this segment. In 2016, out of the 188,000 patients suffering from chronic sinusitis, 160,000 (85%) patients performed the balloon sinus dilation procedure in ENT clinics/in office in the US (Source: Entellus Presentation 2017.
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Key players in the 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 market.
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Mr. Shelly Singh
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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