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Albany, New York, May 10, 2019 (GLOBE NEWSWIRE) -- According to the Transparency Market Research, the global Sinus Dilation Devices Market, the market is projected to rise at a steady rate of 8.2% CAGR between 2018 and 2026. In 2017, the market earned US$2.02 bn, which is expected to reach US$4.07 bn by the end of 2026.
Among the patient type, the adult segment is holding a large share in the global sinus dilation devices market. Rising adult population is a key factor leading to an increased demand in this segment. Moreover, higher prevalence of chronic sinusitis in adults and weaker immunity levels has contributed in the growing patients suffering with sinus. Regionally, North America holds a significant share in the global sinus dilation devices market. On the other hand, Asia Pacific is also projected to lead the market in the coming years. Increasing focus of leading players in developing economies and development of new products will further drive the demand in the sinus dilation devices market in Asia Pacific.
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Benefits over Conventional Surgeries Triggered Demand for Sinus Dilation Devices
Rising prevalence of sinusitis is one of the major factors driving demand in the global sinus dilation devices market. Huge population across the globe is suffering with chronic sinusitis caused by inflammation or swelling of the tissues lining the sinuses. This has resulted in increased number of ENT clinics, ambulatory surgical centers, and hospitals that provides cost effective, fast, and minimally invasive techniques to treat this condition.
Moreover, spreading awareness about the benefits of balloon sinus dilation/sinuplasty over conventional sinus surgeries and supportive reimbursement policies has augmented demand in the global sinus dilation devices market. A shift towards in-office sinus surgeries along with growing product developments through advanced research and development activities are fueling growth in this market.
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Dearth of Skilled Professionals to Challenge Growth in Sinus Dilation Devices Market
Dearth of skilled professionals including ENT Surgeons and Otolaryngologists and high risk associated with sinus surgeries has increased challenges for the growth of the global sinus dilation devices market. Moreover, preference for medical therapy is further deterring demand in the global sinus dilation devices market. Limited choices for sinus surgical procedures due to the availability of sinusitis drugs and high number of cases relating to post-operative risk have also deter demand in this market.
Despite these constraints, the global sinus dilation devices market is expected to witness high growth due to high investments made in the healthcare sector across the globe. A rapid development of novel sinus dilation devices has also created new growth opportunities in this market.
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Players engaged in extensive research and development activities for developing sinus dilation devices. This is expected to open new growth avenues in the global sinus dilation devices market. Leading vendors are focusing on developing new products to reach large number of patients. Recently, Intersect launched sinus implant SINUVA in the U.S. the implant is designed a manner that provides treatment for nasal polyp diseases in adult patients.
Prominent vendors are carrying strategic alliance and using advanced business development strategies to get higher competitive edge against their competitors. For instance, in 2017, Stryker acquired Entellus. Entellus excels in minimally invasive technologies and helps enabling procedures to be implemented in cost-effective sites of services in the space of sinus dilation. Some of the other major players in the global sinus dilation devices market include Medtronic plc, Dalent LLC, Olympus Corporation, Acclarent, Inc., and KARL STORZ SE & Co. KG.
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The study presented here is based on a report by Transparency Market Research (TMR) titled “Sinus Dilation Devices Market (Product - Balloon Sinus Dilation Devices, Sinus Stents, Endoscopy (Rhinoscopes, Sinuscopes), and FESS Instruments; Procedure – Standalone and Hybrid; Patient Type – Adult and Pediatric; End user - Hospitals, Ambulatory Surgical Centers, and ENT Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026”.
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