Sinus Dilation Devices Market Insights, Competitive Landscape and Market Forecast–2027
Sinus Dilation Devices Market By Product Type (Balloon Sinuplasty Devices, Sinus Implants/Stents, Functional Endoscopic Sinus Surgery Instruments Set, Others), By End-User (Hospitals, Ent Clinics, And Others), by geography, is expected to expand at a static CAGR forecast till 2027 due to the growing prevalence of chronic rhinosinusitis across the globe and increasing preferences for minimally invasive surgeries such as balloon sinuplasty among the population.
The global sinus dilation devices market was valued at USD 1.52 billion in 2021, growing at a CAGR of 9.10% during the forecast period from 2022 to 2027, to reach USD 2.55 billion by 2027. The rise in demand for sinus dilation devices is primarily attributed to the growing burden of rhinosinusitis both acute and chronic among the worldwide population. Moreover, the rising preference for the minimally invasive procedures and benefit of balloon sinuplasty over conventional treatment methods is also expected to surge the market for sinus dilation devices. Also, increasing technological advancement and the presence of several reimbursement policies and initiatives concerned with the treatment of sinusitis, among others are the factors responsible for global sinus dilation devices market growth.
Sinus Dilation Devices Market Dynamics:
The factor which plays a major role in increasing the global sinus dilation devices market is the increasing prevalence of rhinosinusitis among the worldwide population. Rhinosinusitis is a common condition associated with the inflammation of the nasal cavity along with paranasal sinuses. According to the World Allergy Organization 2021 report, the worldwide prevalence of chronic rhinosinusitis (CRS) ranges from about 8% in China, 8.4% in Korea, 11% in Europe, and 12% in the United States. Also, according to the reports of the International Rhinologic Society 2020, the one-year prevalence of acute rhinosinusitis which is usually the consequence of viral common cold is 6-15% whereas CRS affects an estimated 5-12% of the general population.
Moreover, recent product approvals for technologically advanced sinus dilation devices are also another factor that will contribute to the market growth during the forecasted period. For instance, on May 20, 2021, Intersect ENT, a global ear, nose, and throat (“ENT”) medical technology company received CE mark for its PROPEL® Contour (mometasone furoate) sinus implant (specifically designed for inflammation reduction by providing mechanical support and steroid delivery).
Additionally, the sudden outbreak of COVID-19 led to a backlog of surgical procedures and interruption in routine patient care followed by suspension of routine surgeries during the crisis. Also, many health organizations have canceled routine clinical visits to curb the transmission of the virus. Moreover, few health organizations have shifted their focus towards managing the deadly virus infection which led to delayed surgery in rhinology, particularly with regards to chronic rhinosinusitis which might have affected the sinus dilation devices market. However, the availability of vaccines is anticipated to normalize the number of elective surgeries performed considering the procedures related to sinus thereby fuelling the market growth during the post-pandemic.
Hence, the above-mentioned factors are likely to spur the global sinus dilation devices market.
The availability of alternative treatment regimens and lack of skilled otolaryngologists and ENT surgeons are some of the factors likely to impede the sinus dilation devices market.
Sinus Dilation Devices Market Segment Analysis:
Sinus Dilation Devices Market By Product Type (Balloon Sinuplasty Devices, Sinus Implants/Stents, Functional Endoscopic Sinus Surgery Instruments Set, Others), By End-User (Hospitals, ENT Clinics, And Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the Sinus Dilation Devices product segment, the balloon sinuplasty devices are projected to hold the largest market share during the forecasted period. This is due to the advantages exhibit by the balloon sinuplasty over traditional sinus surgery. Balloon sinuplasty uses a small, flexible, balloon catheter to open the blocked passageway and facilitate drainage of mucus. Moreover, this surgery is cost-effective and has faster recovery. Also, it requires no cutting nor removal of bone and tissue. Thus, has high demand among the patient population which ultimately leads to the segmental growth of the sinus dilation devices.
Moreover, the presence of the latest commercial medical policy for balloon sinus ostial dilation is further anticipated to augment the market for sinus dilation devices. For instance, United Healthcare policy number 2021T0571K for balloon sinus dilation is effective from August 01, 2021.
Hence, all the aforementioned factors will lead to the segmental growth of the sinus dilation devices market in the coming years.
North America is expected to dominate the Overall Sinus Dilation Devices Market:
Among all the regions, North America is expected to occupy a major share in the overall sinus dilation devices market during the forthcoming years. This domination is owing to the increasing prevalence of the target population in the region. Moreover, the presence of a well-established reimbursement policy and recent product approvals in the region is projected to augment the sinus dilation devices regional market.
For instance, as per the 2021 data of the Centre for Disease Control and Prevention, in the US, there are approximately 28.9 million adult persons diagnosed with sinusitis.
In addition, the rising number of sinus surgeries and preference for minimally invasive surgeries among the patient population in the region are also anticipated to propel the sinus dilation devices market. For instance, according to the Blue Cross Blue Shield Medical Policies 2020, approximately, 350,000 Functional Endoscopic Sinus Surgery (FESS) procedures are done each year in the US for CRS.
In addition, recent product approvals by the US regulator body the Food and Drug Administration (FDA) and product launches will also contribute to the sinus dilation devices market in the region. In 2019, Dalent Medical, Miami-based ear, nose, and throat Device Company commercially released its Sinusleeve, a single-use, disposable balloon sinus dilation device (BSD) used for treating chronic sinusitis.
Moreover, the presence of key market players active in sinus dilation devices manufacturers such as Johnson & Johnson, Stryker, Dalent Medical, Intersect ENT, Inc., among others is also expected to augment the sinus dilation devices market in the region.
Furthermore, the Asia-pacific region has future potential for the sinus dilation devices market. The rising burden of chronic rhinosinusitis in the region. For instance, as per the National Health Portal of India 2019 data, 134 million Indians were suffering from chronic sinusitis. Moreover, improving the healthcare system, rise in disposable income, rapid urbanization, and government initiative to increase access to safe and affordable surgery, especially in low and middle-income countries will boost the sinus dilation devices market in the region.
Sinus Dilation Devices Market Key Players:
Some of the key market players operating in the Sinus Dilation Devices market include Johnson & Johnson, Stryker, Dalent Medical, Intersect ENT, Inc., Smith & Nephew, Medtronic, Meril Life Sciences Pvt. Ltd., Olympus, Jilin Coronado Medical Apparatus Co., Ltd., Leno Medical Technology (Shanghai) Co., Ltd., SPIGGLE & THEIS Medizintechnik GmbH, InnAccel, Surgical Holdings., SinuPulse, Sklar Surgical Instruments, XION, Entermed, Optim LLC, KARL STORZ, Wolf GmbH, and others.
Recent Developmental Activities in the Sinus Dilation Devices Market:
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