Sinus Dilation Device Market Driver, Restraint, Challenges and Opportunities Study

Sinus Dilation Device Industry Overview

The global sinus dilation device market size is estimated to reach USD 4.6 billion by 2028, registering a CAGR of 11.0%, according to a new report by Grand View Research, Inc. Changes in lifestyle, increasing cases of obesity, and a resultant rise in the incidence of sinus-related conditions are the major factors contributing to the market growth. The introduction of technologically advanced devices is also one of the key factors boosting market growth. Major market players are focusing on R&D activities to introduce minimally invasive procedures creating a positive impact on the adoption of MIS procedures.

Some of the inventions in the market related to endoscopic approaches include a nasal endoscope, rhinoscopes, and balloon sinus dilation devices. An increase in medical reimbursements across major markets is likely to fuel the market growth. Rising adoption of health insurance and growing per capita expenditure coupled in developed as well as developing countries is predicted to augment the market growth.

Sinus Dilation Device Market Segmentation

Grand View Research has segmented the global sinus dilation device market on the basis of product, procedure, application, end use, and region:

Based on the Product Insights, the market is segmented into Balloon Sinus Dilation Devices, Endoscopes, Functional Endoscopic Sinus Surgery (FESS) Instruments Set, Sinus Stents/Implants, and Others

• The Balloon Sinus Dilation (BSD) devices segment captured the largest revenue share of more than 47% in 2020.
• The Functional Endoscopic Sinus Surgery (FESS) Instruments Set segment is anticipated to register the fastest growth rate of more than 14% over the forecast period.

Based on the Procedure Insights, the market is segmented into Standalone and Hybrid

• The standalone procedure segment captured the highest revenue share of over 68% in 2020.
• Hybrid functional endoscopic sinus surgery balloon dilation procedure is effective in both pediatric and adult patients. Thus, increasing preference for hybrid procedures for adult and pediatric patients is anticipated to boost the market growth.

Based on the Application Insights, the market is segmented into Adult and Pediatric

• The adult patient segment accounted for the highest revenue share of more than 68% in 2020 owing to the high prevalence of sinusitis in adults.
• The pediatric segment is anticipated to register the fastest CAGR during the forecast period. The growth can be attributed to the rise in the occurrence of sinusitis among children.

Based on the End-use Insights, the market is segmented into Hospitals, ENT Clinics/In-office, and Ambulatory Surgical Centers (ASCs)

• The hospitals segment accounted for the largest revenue share of over 51% in 2020 and is expected to witness considerable growth during the forecast period owing to the high volume of surgical procedures performed in hospitals.
• The Ambulatory Surgical Centers (ASCs) segment is expected to witness the fastest CAGR during the forecast period.

Sinus Dilation Device Regional Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly consolidated with a few major companies accounting for a majority of the market share. Product launch, product approval, strategic acquisitions, and innovations are some of the key business strategies adopted by the market players to retain their market share and expand their geographic reach.

Some prominent players in the global Sinus Dilation Device market include:

• Stryker
• Smith & Nephew
• Olympus Corporation
• Medtronic

Order a free sample PDF of the Sinus Dilation Device Market Intelligence Study, published by Grand View Research.