- Patient's increasing push toward sinus balloon dilation procedures (BSPs) due to better surgical outcomes propelling lucrative opportunities in sinus dilation devices market; rising numbers of in-office BSPs to expand profitable avenues
- Asia Pacific market to witness companies to reap sizable revenue gains during the forecast period, especially from growing number of surgeries in elderly
ALBANY, N.Y., May 25, 2022 /PRNewswire/ -- Need for reducing the prevalence of chronic sinusitis has expanded the scope of commercialization of minimally invasive devices for sinusitis treatment. The sinus dilation devices market outlook has been progressively expanded by growing number of sinusitis surgeries, especially among young and older adults. A study by TMR estimates the global sinus dilation devices market is projected to advance at CAGR of 7.2% during 2022-2031.
Standalone procedures most notably balloon dilation are growing in popularity, and the trend is expected to spur products sales in sinus dilation devices market. Sinus dilation devices market projections found that standalone procedures held a major share in 2021. Growing number of functional endoscopic sinus surgery and balloon sinus ostial dilation procedures has bolstered revenue possibilities as a result of popularity of such procedures.
An assessment of the emerging trends of the sinus dilation devices market found that techniques and technologies for standalone balloon dilation are making rapid advancements. Growing number of surgeries in operative as well as in-office settings is a key trend, found the demand analysis of sinus dilation devices in a study by TMR.
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Key Findings of Sinus Dilation Devices Market Study
- Technique Enhancements and Device Advancements to Provide Stable Profit Sources: Companies in the sinus dilation devices market have been capturing incremental opportunities on the back of advancements in techniques and innovation in technologies. In particular, preference toward balloon sinus dilation devices has increased substantially. The high acceptance stems from the advantages such as lower complication rates, reduced recovery time, and minimally invasive nature. The demand has risen for treating chronic rhinosinusitis, bolstering revenue potential for players in the sinus dilation devices market.
- Need to Reduce Prevalence of Chronic Sinusitis in Adults Underpin Vast Revenue Potential: Both developed and developing economies have witnessed high healthcare costs of sinusitis and glaring impact on the quality of life for patients with chronic sinusitis. A significant percentage of adults suffer from the chronic conditions annually, and thus need effective treatments. The need has positively shaped the sinus dilation devices market dynamics.
Balloon dilation systems are gathering traction for use in treatment of patients with chronic sinusitis. The application of balloon dilation systems is rising in in-office settings. This is expected to extend the horizon for enormous revenue streams in sinus dilation devices market in near future. A key proposition that has been steering the demand for surgeries in an in-office setting is ease of availability.
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Sinus Dilation Devices Market: Key Drivers
- Sinusitis, notably chronic rhinitis and rhinosinusitis, has been associated with significant morbidity and reduced quality of life parameters for patient population. Continuous advancements made in surgical techniques have propelled the evolution of the sinus dilation devices market.
- High prevalence of sinusitis in adults, especially on the back of rising pollution levels in urban parts of various countries, has led to high healthcare costs to both developed as well as developing nations. This has spurred the need for minimally invasive treatments, thus driving the sinus dilation devices market.
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Sinus Dilation Devices Market: Regional Growth Dynamics
- North America held the leading share of 38.44% of the sinus dilation devices market in 2021. Massive uptake and rapid pace of commercialization of advanced devices in the regional market have helped cement the revenue growth. Stakeholders are likely to focus on mergers and acquisitions to grow their market shares in North America, assert the analysts of TMR in a study on sinus dilation devices market.
- Asia Pacific has emerged as a potentially lucrative market. The growing awareness about the availability of effective surgical treatments has bolstered the demand for sinus dilation devices. A significant elderly patient population will catalyze the demand for products in the Asia Pacific sinus dilation devices market.
Sinus Dilation Devices Market: Key Players
Some of the key players in the sinus dilation devices market are Dalent LLC, Meril Life Sciences Pvt. Ltd., Intersect ENT, Inc., Entellus Medical, Inc., Acclarent, Inc., KARL STORZ SE & Co. KG, Olympus Corporation, Smith & Nephew plc., and Medtronic plc.
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Sinus Dilation Devices Market Segmentation
by Product
- Balloon Sinus Dilation Devices
- Sinus Stents
- Endoscopy
- Sinuscopy
- Rhinoscopy
- FESS Instruments
- Others
By Procedure
- Standalone
- Hybrid
By Patient Type
- Adult
- Pediatric
End-user
- Hospitals
- Ambulatory Surgical Centers
- ENT Clinics
by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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