Global Sinus Dilation Device Market by Procedure (Hybrid, Standalone), by Product (FESS Instruments Set, BSD), by Application (Pediatric, Adult) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global sinus dilation devices market was valued at USD1.7 billion in 2020. It is projected to grow at a compound annual rate (CAGR of 11.0%) between 2021 and 2028. Market growth is mainly due to the high preference for minimally invasive procedures and favorable reimbursement scenarios. There are also rising awareness about the benefits of balloon sinuplasty over conventional techniques. Advanced surgery techniques are replacing traditional methods, which helps to increase market dynamics. In sinus surgery, technological advancements such as laser technologies ensure minimal ablation with fewer side effects. These procedures can be done in an outpatient department due to their shorter turnaround times.

There were interruptions in routine patient care due to the COVID-19 pandemic. To increase the availability of inpatient care beds, many healthcare facilities have cancelled routine clinic visits and elective surgery. They have also reorganized their medical and nursing staff. Patients suffering from chronic rhinitis have been particularly affected by this. Teleconsultations were offered to patients who wanted temporary solutions for sinus-related issues.

COVID-19 vaccines are expected to increase market growth by normalizing elective surgeries, such as those related to sinus conditions. The market is dominated by Medtronic, Smith & Nephew, Acclarent, Inc., and others. These companies are focused on mergers & Acquisitions, investments in technological advancements, and R&D activities to expand their geographical reach. Smith & Nephew, for example, invested USD 222 millions in FY 2015 and USD 223,3 million in 2017, in R&D.

Product Insights

In 2020, the Balloon Sinus Dilation (BSD), devices segment accounted for more than 47% of all revenue. BSDs can be used to improve symptoms of sinusitis. They are small and flexible, as well as being safe. Because sinus dilation does not involve tissue ablation, the procedure is quick and easy to perform. BSD procedures can be temporary and may require repeats.

Functional Endoscopic Sinus Surgery Instruments Set (FESS) is expected to grow at a rate greater than 14% during the forecast period. It can be used to treat chronic, recurrent rhinosinusitis or medically refractory acute rhinosinusitis. It is minimally invasive and highly preferable to other procedures. This will help fuel segment growth.

Procedure Insights

In 2020, the standalone procedure segment accounted for 68% of the total revenue. As a standalone procedure, balloon sinus ostial dilation can be performed. For chronic rhinosinusitis, standalone balloon dilation can be as effective as endoscopic sinus surgery. Segment growth is expected to be fueled by the growing preference for minimally invasive surgery procedures, which will increase with increased health insurance.

Balloon sinus surgery is combined with functional endoscopic surgery. It is also known as a hybrid procedure because it includes elements from both functional and balloon sinus surgery. The hybrid functional endoscopic sinus surgery balloon dilution procedure works well in both children and adults. Market growth is expected to be boosted by increasing demand for hybrid procedures in both pediatric and adult patients.

End-use Insights

Hospitals accounted for 51% of the total revenue in 2020. This segment is expected to see significant growth due to the large number of hospital-based surgical procedures. Segment growth is expected to be boosted by the increasing incidence of chronic sinusitis and favorable reimbursement criteria. Segment growth is expected to be boosted by the availability of medical equipment and infrastructure that is technologically advanced.

The segment Ambulatory Surgical Centers will see the fastest CAGR over the forecast period. ASCs are being considered by the Healthcare system as a strategic option to deliver surgical services. ASCs can perform minimally invasive procedures such as BSD. ASCs are expected to be more profitable than hospitals due to their cost-effectiveness and better reimbursement policies.

Application Insights

Due to the high incidence of sinusitis in adult patients, the adult segment had the highest revenue share at 68%. According to the CDC in September 2017, sinusitis was more common in adults than it is in children. The U.S. was home to 9 of 10 cases of viral sinusitis in adults.

The fastest expected CAGR for the pediatric segment will be recorded during the forecast period. This can be attributed largely to an increase in sinusitis among children. The National Center for Biotechnology Information reports that between 6 and 13% of American children had chronic rhinosinusitis or acute rhinosinusitis in 2015. This was in the U.S.A. Many market players are also focusing their efforts on pediatric patients to secure the market.

Regional Insights

North America occupied the largest market share, more than 40%, in 2020. It is expected to maintain its dominance for the forecast period. This dominance can be attributed largely to the existence of highly regulated, well-developed healthcare infrastructure. The market is also being boosted by the availability of high-quality products thanks to major market players. Asia Pacific will show the fastest CAGR during the forecast period due to the increase in disposable income, and the improvement in patient awareness regarding sinus surgery procedures.

Olympus Corp., InnAccel Technologies and other companies operating in the Asia Pacific region market are now focusing on mergers & acquisitions to increase their product portfolio, deliver high-quality products to emerging markets, and reduce costs. Olympus Corp., for USD 87million, entered into a definitive agreement to buy Image Stream Medical, Inc. in April 2017. This acquisition will improve healthcare facility medical solutions.

Market Share Insights & Key Companies

The market is heavily consolidated, with only a handful of major companies holding the majority of market share. To maintain their market share and expand their geographical reach, market players use key business strategies such as product launch, product approval, strategic purchases, innovations, and product approval. Stryker Corp. purchased Entellus Medical in the U.S. in December 2017. This company provides minimally invasive ENT solutions to the market.

Entellus Medical offers the Latera Absorbable Naal Implant, XprESS ENT Dialation System, MiniFESS Surgical instruments, FocESS Imaging & Navigation and XprESS ENT dilation System to meet the growing demand for minimally invasive ENT surgery procedures. The following are some of the major players in the global sinus dilation market:

• Stryker

• Smith & Nephew

• Olympus Corporation

• Medtronic

Up Market Research published a new report titled “Sinus Dilation Device Market research report which is segmented by Procedure (Hybrid, Standalone), by Product (FESS Instruments Set, BSD), by Application (Pediatric, Adult), By Players/Companies Stryker, Smith & Nephew, Olympus Corporation, Medtronic”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Sinus Dilation Device Market Report Segments:

The market is segmented by Procedure (Hybrid, Standalone), by Product (FESS Instruments Set, BSD), by Application (Pediatric, Adult).

Sinus Dilation Device Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Sinus Dilation Device Market

Overview of the regional outlook of the Sinus Dilation Device Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Sinus Dilation Device Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Sinus Dilation Device Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Hybrid

                2. Standalone

                1. FESS Instruments Set

                2. BSD

                1. Pediatric

                2. Adult

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Sinus Dilation Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Sinus Dilation Device Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.