Sinus Dilation Devices Market Expected to Reach $5,067.97 Million by 2030 | CAGR of 4.1%

According to a new report published by Allied Market Research, titled, “Sinus Dilation Devices Market By Product Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global sinus dilation devices market size was valued at $3,389.08 million in 2020, and is projected to reach $5,067.97 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

Sinus is a massive clinical condition wherein the cavities across the nasal passages grow to be inflamed. Acute sinusitis may be brought about with the aid of using allergies or bloodless and can resolve on its own. It may be caused due to infection or swelling of the tissues lining the sinuses. Sinus dilation devices extend the sinus opening of the nostril during sinus surgeries, thereby treating the drainage problem associated with nasal sinuses. Sinus dilation devices consist of endoscopes and hand-held devices used to visualize and guide all through sinus dilation procedures. The procedure is preferred over decongestants, antibiotics, or steroids, as it provides immediate and long-lasting results.

On the basis of product type, the balloon sinuplasty system segment was the major revenue contributor in 2020, and is anticipated to continue this trend during the forecast period, owing to increase in adoption balloon sinuplasty in sinus surgeries, as it is safe, small, flexible, and effective in improving symptoms of sinusitis. However, the rhinoscopes segment is projected to exhibit the fastest sinus dilation devices market growth during the forecast period, owing to rise in use of rhinoscopes.

Depending on end user, the hospital segment presently dominates the market, and is expected to remain dominant during the forecast period, owing to high volume of surgical procedures performed in hospitals. Moreover, increase in prevalence of chronic sinusitis coupled with favorable reimbursement criteria is anticipated to boost the segment growth. Furthermore, the availability of technologically advanced infrastructure and medical equipment along with the ability to perform complex sinus surgeries are the key factors escalating the growth of sinus dilation devices market.

North America dominated the global sinus dilation devices market in 2020, and is expected to remain dominant throughout the forecast period, owing to increase in number of sinus surgical procedures. Moreover, increase in number of product launches in the region is set to drive the market growth. However, Asia-Pacific is projected to register the highest CAGR of 5.2% during the forecast period, owing to its high population base, increase in affordability, surge in healthcare expenditure, and rise in awareness toward sinusitis-related surgeries. In addition, surge in medical tourism and increase in disposable incomes boost the sinus dilation devices market growth.

The major companies profiled in the report include Stryker Corporation, Medtronic Plc., Smith & Nephew Plc., Sinusys Corporation, Olympus Corporation, Sklar Surgical Instruments, Accurate Surgical & Scientific Instruments, Intersect, Inc., Johnson & Johnson.

Key Findings Of The Study

• By product type, the balloon sinuplasty system segment is expected to experience rapid growth in the sinus dilation devices market, and is projected to grow at a CAGR of 3.8% from 2021 to 2030
• On the basis of end user, the hospital segment is expected to experience rapid growth in the sinus dilation devices market, and is projected to grow at a CAGR of 3.8% from 2021 to 2030.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.2% during the forecast period.