Sinus Dilation Devices Market
Number of pages: 100 | Report Format: PDF | Published date: February 17, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 1.9 billion |
|
Revenue Forecast in 2030 |
US$ 4.78 billion |
|
CAGR |
10.8% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Product Type, Procedure, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global sinus dilation devices market was valued at US$ 1.9 billion in 2021 and is expected to register a revenue CAGR of 10.8% to reach US$ 4.78 billion by 2030.
Sinus Dilation Devices Market Fundamentals
Sinus is a medical condition in which the nasal tube cavities become inflamed. Allergies or bloodless conditions can cause acute sinusitis. It can be brought on by a sinus infection or swelling of the tissues lining the sinuses. A medical equipment called a sinus dilation device is utilized to enlarge the sinus apertures in a patient’s nose in the treatment of nasal sinus drainage problems or sinusitis. Sinus dilation devices are a unique type of medical device that can be used to treat sinus infections. These devices work by using gentle pressure to expand the sinuses, allowing more air to flow in and out of them. This helps to reduce inflammation and improve the drainage of mucus. In addition, the devices can help reduce pain and discomfort associated with sinus infections. The devices are easy to use and do not require any special training or equipment. They are also relatively inexpensive and can be purchased over the counter.
There are several types of sinus dilation devices, including balloon sinus dilation devices, endoscopic sinus dilation devices, and powered sinus dilation devices. Balloon sinus dilation devices use a small, flexible balloon to dilate the sinuses. These devices are inserted into the sinuses through the nose and are then inflated to dilate the sinuses. Endoscopic sinus dilation devices use an endoscope, which is a thin, flexible tube with a light and a camera on the end, to dilate the sinus. These devices are inserted into the sinuses through the nose and then used to guide a small, flexible balloon to dilate the sinus.
[57567657]
Sinus Dilation Devices Market Dynamics
The global sinus dilation devices market is expected to exhibit significant revenue growth during the forecast period, owing to technological advancements in sinusitis treatment. In addition, the rise in sinusitis cases—which could result in more sinus surgeries—and the widespread usage of minimally invasive surgical techniques are major market revenue growth drivers. Moreover, the global sinus dilation devices market is driven by the high preference for minimally invasive procedures, favorable reimbursement scenarios, growing awareness about the advantages of balloon sinuplasty over other traditional techniques, and increase in the prevalence of chronic sinusitis. In sinus surgery, technological advances, such as surgical laser technologies, enable minimal ablation and have fewer adverse effects. These treatments can be carried out in outpatient departments due to shorter turnaround times.
The market growth is anticipated to be constrained by the risks related to sinus surgical operations and the low acceptance of surgical techniques due to the availability of substitute medications for sinusitis. On the other hand, increase in efforts by prominent companies in the development of cutting-edge products and the high growth potential of emerging nations, such as China and India, is anticipated to open up profitable opportunities for market players.
Sinus Dilation Devices Market Ecosystem
The global sinus dilation devices market has been analyzed from four perspectives: product type, procedure, end user, and region.
Sinus dilation devices Market by Product Type
[865757]
Based on the product type, the global sinus dilation devices market has been segmented into balloon sinus dilation (BSD) devices, functional endoscopic sinus surgery (FESS) instruments, sinus stents, and rhinoscopes.
The balloon sinus dilation (BSD) devices segment accounts for the largest revenue share in the global sinus dilation devices market. The balloon sinus dilation (BSD) procedures are risk-free, compact, adaptable, and successful in reducing sinusitis symptoms. As the sinus dilation treatment does not include tissue ablation, it has a rapid recovery time and is comfortable for the patient. BSD treatments, however, are transient, and patients might need to undergo them again. On the other hand, due to an increase in rhinoscope usage, the rhinoscopes segment is anticipated to grow at the fastest revenue CAGR during the forecast period.
The functional endoscopic sinus surgery (FESS) instruments segment is predicted to grow at a rapid pace during the forecast period. This type of surgeries are used to treat chronic rhinosinusitis with or without polyps and recurrent acute rhinosinusitis. It is strongly preferred over other operations and is a less invasive process, which is expected to drive the segment’s growth.
Sinus Dilation Devices Market by Procedure
Based on procedure, the global sinus dilation devices market has been segmented into standalone and hybrid.
The standalone procedure segment accounts for the majority of the revenue share of the sinus dilation devices market. The balloon sinus ostial dilation treatment is carried out independently. For the treatment of chronic rhinosinusitis, standalone balloon dilation is just as efficient as functional endoscopic sinus surgery. The segment is excepted to develop at a significant revenue CAGR due to the rising preference for less invasive surgical procedures brought on by the increased usage of health insurance. Patients of all ages benefit from the hybrid functional endoscopic sinus surgery balloon dilation treatment. Thus, the rising demand for hybrid operations among adult and pediatric patients is projected to fuel market expansion.
Sinus Dilation Devices Market by End User
Based on the end user, the global sinus dilation devices market has been segmented into hospitals & clinics and ambulatory surgical centers.
The hospitals segment accounted for the largest revenue share of the global sinus dilation devices market and is expecting considerable revenue growth during the forecast period owing to the high volume of surgical procedures performed in hospitals. The segment growth is predicted to be boosted by the rising prevalence of chronic sinusitis and favorable reimbursement policies. The availability of technologically improved infrastructure and medical equipment coupled with the ability to perform complex sinus procedures are predicted to promote market growth.
The ambulatory surgical centers (ASCs) segment is anticipated to grow at the fastest revenue CAGR during the forecast period. ASCs are being considered by the healthcare system as a strategic means of providing surgical services. ASCs make it simple to perform minimally invasive procedures such as BSD. Additionally, the cost-effectiveness and superior reimbursement policies than hospitals are projected to boost the segment’s expansion.
Sinus dilation devices Market by Region
Based on region, the global sinus dilation devices market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounts for the largest revenue share of the sinus dilation devices market and is expected to continue its dominance during the forecast period, due to the presence of a highly regulated and advanced healthcare system. Additionally, the availability of cutting-edge products due to the existence of significant industry competitors is fueling sales growth.
The market in Asia Pacific is anticipated to register the highest revenue CAGR during the forecast period due to rising disposable income and increasing patient knowledge of sinus surgery in this region. Olympus Corp. and InnAccel Technologies, two organizations that operate in the Asia Pacific region, are concentrating on mergers and acquisitions to broaden their product offerings and provide high-quality goods in emerging markets at competitive prices.
Sinus Dilation Devices Market Competitive Landscape
The prominent players operating in the global sinus dilation devices market are:
Sinus Dilation Devices Market Strategic Developments
The global sinus dilation devices market is expected to register growth at a revenue CAGR of 10.8% during the forecast period.
Medtronic Plc, B. BRAUN MELSUNGEN AG, Stryker Corporation, Smith and Nephew Plc, and Sinusys Corporation are among the key players in the global sinus dilation devices market.
The balloon sinus dilation device segment dominates the global sinus dilation devices market.
Asia Pacific is expected to observe the highest revenue growth global sinus dilation devices market during the forecast period.
The global sinus dilation devices market was valued at US$ 1.9 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain