ENT Devices Market to grow at 5% CAGR from 2016 to 2023

1. ENT (Ear, Nose and Throat) Devices Market to reach $24bn by 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

2. Key Insights from ENT Devices Market: • Rising occurrence of ear, nose and throat related disorders along with growing old age population is predicted to promote (ear, nose, throat) ENT devices market trends during forecast timeline. • ENT (Ear, Nose, Throat) Devices Market size was USD 16.7 billion in 2015, with 5% CAGR growth anticipated by the industry throughout 2016 to 2023. • Occurrence of hearing impairment has been growing since last few years due to rising noise pollution. Age also acts as a key aspect for acquiring hearing loss and there is growing occurrence of deafness in old people. • About 20.1% of aging population above age of 60 years suffer hearing loss and percentage grows to about 40.1% for people who have crossed 75 years of age. The reason for the deafness in old people can be attributed to their low immunity levels making their ear, nose & throat prone to infections like inner mucosal lining inflammation.

3. Continued... • Large rate of occurrence of hearing problems were observed in developing nations. In 2012, about 89.1% of the total hearing problems occurred in developing regions where medical requirements were not fulfilled. • The costs of the ailments like oropharyngeal cancer and larynx cancer is growing globally, particularly in emerging economies. Growing occurrence of cancer and frequently occurring throat ailments are predicted to propel the industry growth. • Introduction of new technologies that can be easily used by patients and accessibility of tiny sized equipments is predicted to increase the demand for ENT devices. • ENT (ear, nose and throat) diagnostic devices segment dominated the industry share with revenue surpassing $5.2 billion by end of forecast period.

4. Continued... • Radiofrequency hand piece equipments segment was evaluated at $895.71 million for 2015 and led the industry whereas hearing implants segment was driven by cochlear implants for 2015. • Hearing implants segment is predicted to register a CAGR of 7.2% which is comparatively higher. This expansion can be credited to factors like rising old age population and hearing losses occurring due to type of work. • North America dominated the industry and was evaluated at $6.2 billion for 2015. Rising occurrence of hearing loss is one of the key factors driving the growth of the industry in North America. • The industry is highly competitive and key industry players concentrate on intensive research & development activities for producing technically modernized products. They compete with each other on available product differentiation options and pricing choices.

5. U.S. ENT Devices Market Size, By Product, 2012 - 2023 (USD Million)

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