- In September 2018, Broncus Medical Inc. announced that company’s Archimedes™ Virtual Bronchoscopy Navigation System was studied to deliver enhanced access to solitary pulmonary nodules as per the data revealed by the European Respiratory Society (ERS) International Congress. The Archimedes system is first of its kind real-time virtual bronchoscopy navigation system with embedded intra-procedure fused-fluoroscopic guidance feature.
- In April 2018, PENTAX Medical, an industry leader in diagnostic and therapeutic endoscopy systems launched a new HD endoscope system for ENT procedures in the U.S. The new DEFINA is a video processor and the J10 Series a combination of three endoscopes - Naso-Pharyngo-Laryngoscopes.
- In February 2018, Stryker Corporation, a leader in the ENT diagnostic devices market announced the completion of the acquisition of Entellus Medical, a leading medical technology provider.
- In January 2018, Cupris Health, a British start-up introduced TYM smartphone otoscope, which is a clinical-grade otoscope that can be plugged to a smartphone for taking high-resolution images and video of external ear canal and eardrum.
- In January 2017, Natus Medical Incorporated announced the completion of the acquisition of GN Otometrics, a leading provider of hearing and balance diagnostic tools. The acquisition is aimed at combining the product portfolio of Natus and Otometrics and further increase the growth potential.
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Fact.MR report delivers information on notable developments of all the key players in the ENT diagnostic devices market. Profiled players in the ENT diagnostic devices market includes Karl Storz GmbH & Co KG, BioMed Jena GmbH, MAICO Diagnostics GmbH, PATH medical GmbH, Fujifilm Corporation, Smith and Nephew PLC., Hedera Biomedics S.r.l., iHEARmedical, Inc., Hill-Rom., Veran Medical Technologies and Ambu A/S among others.
Top 5 Players Hold 56% of ENT Diagnostic Devices Market Revenues
The ENT diagnostic devices market remains moderately consolidated among top 5 players who hold over half the market share. Top 5 players in the ENT diagnostic devices market are Medtronic Plc, Fujifilm Corporation, Smith and Nephew Plc., Stryker Corporation and Natus Medical Incorporated. Mergers and acquisitions are the prominent growth strategies adopted by these players. In addition, R&D collaborations are also prominent to lower the prices of ENT diagnostic devices.
The ENT diagnostic devices market is also witnessing the emergence of local start-ups who are introducing low-priced devices. Owing to the successful penetration of these devices, the start-ups and small players have increased manufacturing capacities as well as regional market presence. Increasing revenues of these companies are challenging the hegemony of leading players in the ENT diagnostic devices market.
Focus on Care Delivery Introduces Breakthrough Innovations in ENT Diagnostic Devices Landscape
As the medtech industry has shifted from marketing model to a care delivery model, greater strides are underway in the field of the medical diagnostic technology landscape. In a bid to introduce improved diagnosis, the ENT diagnostic devices marketplace has witnessed the introduction of multiple breakthrough innovations.
Telemedicine is a phenomenon in the otolaryngology which brings medical care to patients. Although, otolaryngology has witnessed slower adoption of telemedicine, advances in audiograms, diagnostic imaging and endoscopy have increased use of telemedicine approach.
Further, to bridge the gap between patient and point of care, ENT diagnostic devices market is witnessing the introduction of smart devices. For instance, after Cupris Health’s introduction of smartphone otoscope in January 2018, in May 2018, hearX Group introduced the world’s first clinically validated smartphone audiometry solution hearTest.
Prevalence of ENT Disorders and Significant Penetration of ENT Surgeries Problems associated with ear, nose and throat are among the most common factors responsible for hospital visits, particularly among the pediatric population. The ageing population has further increased the number of hospital visits for ENT problems across the globe. According to a survey study by Massachusetts Eye and Ear Infirmary, prevalence of tinnitus was found to be between 8 to 25.3% of the population of the United States. Between 10 to 30% of the population in the United States and Europe is affected by Sinusitis.
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Advances in the accessibility of healthcare facilities and favorable reimbursement policies for ENT procedures have increased the number of ENT surgeries performed for the treatment of ENT related diseases. Prevalence of ENT disorders and rising penetration of ENT surgeries are expected to increase the importance of ENT diagnostic devices in the future.
High Cost of the ENT Diagnostic Devices to Hamper Market Growth
Acquiring an ENT diagnostic device involves an initial capital investment of device purchase and set up, and further cost of repair and maintenance. The cost recovery depends on uncertain factors such as the number of procedures performed per day. Further, limited financial support in specific locations impedes the adoption of improved ENT diagnostic devices in the healthcare facilities.
In addition, developing markets lack the awareness regarding the full potential of ENT diagnostic devices, thereby restraining the growth of the ENT diagnostic devises market. Also, inadequate healthcare infrastructure of these markets shows unreadiness for the adoption of advanced ENT devices owing to lack of knowledge and financial abilities.
Being First-Line Tools in Disease Management, ENT Diagnostic Devices Witness Higher Installation Base
As diagnosis plays a crucial role in disease management, doctors remain heavily dependent on diagnostic testing. Particularly in the ENT field, observation of ear, nose and throat remains challenging owing to the physiology of organs. ENT diagnostic devices aid in the efficient management of ENT diseases.
In addition, efficient diagnostic devices significantly reduce the time required in disease evaluation, thereby leading to faster treatment determination. Further, the rate of installation of ENT diagnostic devices has increased owing to positive patient outcomes. With the increasing awareness regarding the advantages of ENT diagnostic devices among healthcare professionals as well as patients, installation of ENT diagnostic devices is likely to rise in the future.
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