Newark, NJ, November 11, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global sinus dilation devices market is expected to grow from USD 2.2 billion in 2020 to USD 4.5 billion by 2028, at a CAGR of 9.4% during the forecast period 2021-2028.
The global sinus dilation devices market has experienced significant growth in recent years. The growth is attributed to the increase in cases of chronic sinusitis which should provide leeway to players in the market. Apart from this, rapid advancements in technology are helping manufacturers come up with new devices such as balloon sinus dilation systems, which are expected to give the market growth a further boost. The balloon sinus dilation system should be more preferred by physicians, as these devices are less invasive and more efficient. The increasing government initiatives of many countries, especially developing countries, to build health infrastructure are also driving the growth of the market. Increased investments to create new market devices to propel the growth of the Sinus Dilatation Devices market.
Sinus is a massive clinical condition in which the cavities through the nasal passages become inflamed. Acute sinusitis can be caused with the help of allergies or without bloodshed and can resolve itself. It can be caused by an infection or swelling of the tissues that line the sinuses. Sinus dilation devices extend the sinus opening to the nostril during sinus surgeries, thereby treating the drainage problem associated with nasal sinuses. Sinus dilation devices also consist of endoscopes and hand-held devices used to visualize and guide through sinus dilation procedures.
The global sinus dilation devices market is experiencing significant growth, owing to increase in chronic sinusitis, minimally invasive procedures, rapid growth in geriatric population, and favorable reimbursement scenario in countries developed. Factors holding back the growth of the market are the increase in prescription drugs such as decongestants and antibiotics to treat sinusitis, which will likely deter users from adopting sinus dilation devices.
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The major players operating in the global sinus dilation device market are Jilin Coronado Medical, Entellus Medical, InAccel, Acclarent, dalENT Medical, Creganna Medical, Medtronic, Meril Life Sciences, SinuSys Corporation, Olympus Corporation and Intersect ENT. To gain significant market share in the global sinus dilation devices market, major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships.
- Intersect ENT, a major player in the sinus dilation device market, announced the launch of the SINUVA sinus implant in 2019. The company mentioned that it will be a new way to treat polyp disease. nasal passages in adults who have had previous sinus surgery.
- In 2018, Stryker Corporation finalized its merger agreement to acquire Entellus Medical, a high-growth global medical technology company, for $ 662 million. Entellus Medical is focused on providing minimally invasive solutions for various ailments of the ear, throat and nose.
- In February 2019, Stryker announced the acquisition of Arrinx, a California-based medical device company to expand Stryker’s ENT unit portfolio.
- In April 2017, Olympus Corporation entered into a contract to acquire Image Stream Medical, Inc. to enhance support of medical solutions to healthcare facilities.
Wearable instrument segment dominated the market and held the largest market share of 25.4% in 2020
On the basis of product, the global sinus dilation devices market is segmented into sinus implants, sinuscopes, rhinoscopes, wearable instruments, balloon sinus dilation devices. The wearable instrument segment dominated the market and held the largest market share of 25.4% in 2020. This growth is attributed to the increasing number of sinus patients across the world.
Hybrid Sinus Dilation Procedures segment dominated the market and held the largest market share of 58.7% in 2020
On the basis of the procedure, the global sinus dilation devices market is segmented into hybrid sinus dilation procedures, autonomous sinus dilation procedures. The hybrid sinus dilation procedures segment dominated the market and held the largest market share of 58.7% in 2020. This growth is attributed to the combination of autonomic dilation and endoscopic surgery resulting in a success rate higher.
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Hospital segment dominated the market and held the largest market share of 48.9% in 2020
On the basis of end use, the global sinus dilation device market is segmented into physician offices, hospitals, outpatient surgical centers, and others. The hospital segment dominated the market and held the largest market share of 48.9% in 2020. This growth is due to the increase in routine sinus dilation examinations performed in hospitals.
Regional segment of the global sinus dilation devices market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global sinus dilation device market is categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The North America region held the largest market share of 43.2% in 2020. This growth is seen by the United States, due to advanced technology and the presence of major manufacturers in the country. .
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About the report:
The global sinus dilation devices market is analyzed on the basis of value (USD billion), volume (K units), export (K units) and import (K units). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges to get the key insights of the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the position grid of the competitors.
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