LONDON–()–The global sinus dilation devices market is expected to post a CAGR of about 9% during the period 2019-2023, according to the latest market research report by .
A key factor driving the growth of the global sinus dilation devices market is the high prevalence of chronic sinusitis. Chronic sinusitis has become one of the most prevalent medical conditions across the world, especially in the US, affecting all age groups. According to the CDC, in the US, viral sinus infections affect 9 out of 10 cases in adults and 5-7 out of 10 cases in children. Sinus dilation is one of the safest and most effective procedures for treating chronic sinusitis. Along with this, some other treatment options that are available for sinus problems include oral steroids, decongestants, nasal steroids, antibiotics, and natural remedies. However, patients may become resistant to these treatments and medications, which would result in the need for sinus surgery. This will boost the demand for sinus dilation devices market during the forecast period.
As per Technavio, the technological advances in sinusitis treatment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global sinus dilation devices market: Technological advances in sinusitis treatment
The sinus surgery industry has been witnessing an assortment of technological advances over the past several decades. The techniques used to relieve sinus pain has been continuously advancing and improving over time, starting with FESS technology. FESS is one of the most common surgery methods that uses an endoscope in the nasal cavity for opening up the passageways, below the eyes, for better drainage. Moreover, advances in camera and telescopic technologies have resulted in the emergence of image-guided surgery, which is one of the most effective surgical solutions for sinus in the market. Such advances will positively impact the growth of the sinus dilating devices market during the forecast period.
“The use of sinus dilation devices is increasing mainly due to the favorable reimbursement scenarios. Majority of the patients undergoing sinus surgeries are covered by commercial payers. Moreover, organizations are constantly putting efforts to make reimbursement policies more favorable. For instance, the American Academy of Otolaryngology-Head and Neck Surgery (AAO-NHS) supports the implementation of a balloon as equipment in a standard approach to sinus ostial dilation along with other indicated endoscopic surgery. They strongly recommend all payers to consider the balloon’s use as a covered service,” says a senior research analyst at Technavio.
Global sinus dilation devices market: Segmentation analysis
This market research report segments the global sinus dilation devices market by product (balloon sinus dilation services, endoscopes, sinus stents, and surgical instruments) and geographic regions (North America, Europe, Asia, and ROW).
The balloon sinus dilation services (BSD) segment held the largest sinus dilation devices market share in 2018. The growth of this segment is driven by the various benefits of BSD, including being less invasive and more effective in nature.
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the high prevalence of chronic sinusitis, the presence of established vendors, and growing awareness about sinus dilation devices and minimally invasive sinus surgeries.
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Five Forces Analysis
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- Vendors covered
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