ENT Surgical Devices Market Scenario Highlighting Major Drivers & Trends, by 2028
The ENT surgical devices market study is based on a comprehensive analysis of the demand-supply scenario of all the important market facets.
[ClickPress, Thu Mar 14 2019] The ENT surgical devices marketplace remains consolidated among Tier 1 and Tier 2 players who collectively hold a hefty 95% market share. Medtronic and Olympus are the top 2 players in the ENT surgical devices market. As the medical device industry is witnessing a shift from a simple marketing model to a care-based delivery model, prominent players in the ENT surgical devices market are engaged in introducing novel medical devices that deliver enhanced operational capabilities, improved surgeries, and better care. The new business model is enabling key players to align with the changing value chain of ENT surgical devices and maintain their market presence.
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ENT surgical devices marketplace covers a broad range of surgical instruments and equipment. Spurred by evolving demand trends and increased focus on health-based delivery model, technology integration has disrupted the medical devices landscape. In a way, ENT surgical devices market remains established wherein the dynamism is maintained by advanced technology integrations. In addition to the development of minimally invasive surgical instruments, ENT surgical devices manufacturers have integrated multiple technology innovations to develop devices with enhanced capabilities. 3D-guided surgery, improved imaging, advances in microscopy, and digital interpretations are few of the trending technology phenomena in the ENT surgical devices marketplace.
In recent years, prominent players like Carl Zeiss Meditech and Barco have introduced microscopes with improved visualization. Leica Microsystems introduced a surgical microscope that combines natural color vision with fluoroscopy. ENT surgical navigation systems introduced by Medtronic, Acclarent, Stryker and other industry leaders have introduced few of the excellent 3D navigation systems for ENT procedures.
ENT disorders are the most common causes that lead to a considerably higher number of doctor visits, particularly in the pediatric population. The rising prevalence of ENT disorders has led to the introduction of government reimbursement policies. For instance in the United States, a considerable number of ENT surgeries such as nasal or sinus endoscopy, osseointegrated implant and temporal bone implantation receive Medicare. For sinus endoscopy under CPT code 31290 and osseointegrated implant under code 69714 and 69715, about US$ 1100 is reimbursed by Medicare. Favorable reimbursements have further increased the numbers patients opting for ENT surgeries, thereby increasing the need for ENT surgical devices across the healthcare industry.
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In a bid to stay ahead of end-user demand, manufacturers in the medical devices market are engaged in developing smart devices. As technology integration and data harnessing plays a key role in this development, the medical devices technology marketplace has witnessed a significant number of M&A activities. A similar trend has been observed in the ENT surgical devices marketplace. In February 2018, Stryker Corporation announced the completion of acquisition Entellus Medical, a leading provider of minimally invasive medical technology of ENT disease states. In May 2018, Johnson & Johnson’s Acclarent in collaboration with Bioscience Webster launched TruDi ENT navigation system with a real-time 3D navigation system.
Minimally invasive surgeries continue to gain momentum in the healthcare owing to associated benefits as compared to the traditional surgical approach. While the traditional approach continues to remain in the mainstream, the minimal invasion has replaced the traditional approach to a greater extent. Growing preference for minimal invasion has led manufacturers to introduce devices to perform ENT surgeries with minimal invasion.
Current ENT procedures such as septoplasty, laryngeal surgery, trans-oral robotic surgery, tonsillectomy, and endoscopic sinus surgery are performed using minimal invasion approach. A considerable amount of R&D investments are involved to combine robotics technology with minimal invasion procedures and develop ENT surgical devices with enhanced surgical efficiency.
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