Sinus Dilation Device Market Overview 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. Sinusitis is a medical condition characterized by inflammation along the sinus lining, which lead to facial pain, sinus headache, difficulty in breathing, fatigue, teeth pain, and loss of sense of smell & taste. Sinus dilation devices market are medical devices used to expand the sinus openings of a patient's nose to treat drainage issues related to nasal sinuses or sinusitis. One of the advanced sinus dilation procedures is the balloon sinus dilation, a minimally invasive procedure that replaces the traditional sinus surgeries procedure. During balloon sinus dilation procedure, a doctor reshapes the patient's sinus pathway with inflated balloons to open the blocked sinus or nasal pathway. The procedure is generally preferred over decongestants, antibiotics, or steroids, as it provides immediate and long-lasting results.
The global sinus dilation device market is expected to exhibit significant growth during the forecast period, owing to technological advancements in sinusitis treatment. In addition, the key factors driving growth of market are increase in incidence of sinusitis, which may lead to higher sinus surgeries, and high adoption of minimally invasive surgical procedures. However, risks associated with sinus surgical procedures and low adoption of surgical procedures, due to the availability of alternative sinusitis-related drugs are expected to restrain the market growth. Conversely, high growth potential in the emerging countries, such as China and India, and large investments by key players to develop advanced products are expected to provide lucrative opportunities to the market players.
The global sinus dilation devices market is segmented into product type, end user, and region. On the basis of product type, the market is categorized into balloon sinuplasty system, rhinoscopes, sinuscopes, sinus stents, and FESS instrument set. By end user, it is fragmented into hospitals & clinics and ambulatory surgical centers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Impact of COVID-19 Pandemic on Sinus Dilation Devices Market (Pre & Post Analysis)
Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. Furthermore, the virus has high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization made an assessment that COVID-19 can be characterized as pandemic. In addition, only a few vaccines that received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns.
The overall impact of COVID-19 remains negative on the global sinus dilation devices market, owing to decline in number surgeries or postponed worldwide to reserve or redirect the available limited capacities and resources (such as hospital beds and patient care professionals) toward COVID-19 patient care. This led to decline in number of patients visiting hospitals & clinics for sinus surgery, as these patients are more vulnerable to COVID-19 infection, which led to decline in demand for sinus dilation products.
By Product Type Segment Review
By product type, the balloon sinuplasty system segment was the major revenue contributor in 2020, and is anticipated to continue this trend during the sinus dilation device market forecast period, owing to the fact that the balloon sinuplasty system gives long-term relief from chronic sinusitis while preserving and restoring their normal sinus anatomy. On the other side, the rhinoscopes segment is projected to exhibit the fastest growth during the forecast period, owing to rise in use of rhinoscopes.
By Product Type
Balloon Sinuplasty segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
By End User Segment Review
By end user, the hospitals & clinics segment presently dominates the sinus dilation devices market, and is expected to remain dominant during the forecast period. During the surgery, patients suffer from various post-operative complications such as blood loss, nerve damage, and other difficulties in the respective area. Thus, to prevent such risks as well as manage these complications, hospitalization is necessary for patients, which supplements the segment growth.
By End User
Hospitals And Clinics segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Region Segment Review
North America dominated the sinus dilation devices market in 2020, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period, owing to increase in number of sinus surgical procedures along with heavy expenditure by the government on healthcare. In addition, large number of product launches in the region is set to drive the market growth.
By Region
North America holds a dominant position in 2020 and continue to maintain lead in the forecast year
This report provides comprehensive competitive analysis and profiles of prominent sinus dilation devices market players such as key players operating in the Stryker Corporation, Medtronic Plc., Smith & Nephew Plc., Sinusys Corporation, Olympus Corporation, Sklar Surgical Instruments, Accurate Surgical & Scientific Instruments, Intersect, Inc., Johnson & Johnson.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global sinus dilation devices market with current trends and future estimations from 2021 to 2030 to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the sinus dilation devices market growth is provided.
- Identification of factors instrumental in changing the sinus dilation devices market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
- Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Sinus Dilation Devices Market Report Highlights
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Analyst Review
According to the CXOs, the adoption of sinus dilation devices is expected to increase due to rise in prevalence of sinusitis, especially chronic sinusitis, and high demand for minimally invasive surgical procedures such as balloon sinuplasty. These surgeries help to expand the blocked sinus openings and provide relief from the symptoms of sinusitis.
As per the CXOs, numerous technological advancements to develop novel sinus dilation devices with lesser side effects and surge in affordability in developing economies are projected to supplement the market growth. However, risks associated with these devices and high preference for sinusitis-related drugs rather than surgeries impede the market growth.
The CXOs further added that the use of sinus dilation devices is highest in North America, owing to increased awareness about the sinus surgical procedures and heavy expenditure by the government on healthcare, followed by Europe and Asia-Pacific. In addition, sinus dilation devices providers and distributors have focused on expanding their presence in the emerging economies, which is anticipated to drive the market growth.
The total market value ofSinus Dilation Devices Market is $5,067.97Million in 2030
The forecast period in the report is from 2021 to 2030
The market value ofSinus Dilation Devices in 2020 was 3,389.08 million in 2020
The base year for the report is 2020
Yes, Sinus Dilation Devices Market companies are profiled in the report
The top companies that hold the market share in Sinus Dilation Devices Market are Stryker Corporation, Medtronic Plc., Smith & Nephew Plc., Sinusys Corporation, Olympus Corporation
No, there is no value chain analysis provided in the Sinus Dilation Devices Market report
The key trends in the Sinus Dilation Devices Market areowing to technological advancements in sinusitis treatment. In addition, the key factors driving growth of market are increase in incidence of sinusitis, which may lead to higher sinus surgeries, and high adoption of minimally invasive surgical procedures.
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