Sinus Dilation Device Market Size, Share & Analysis Report, 2021-2027
The global Sinus Dilation Device market gathered revenue around USD 2 Billion in 2020 and market is set to grow USD 5.2 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 12% during the prediction period 2021 to 2027.
Growth Factors:
The high preference for minimally invasive procedures, favorable reimbursement scenarios, rising awareness about the advantages of balloon sinuplasty over other conventional techniques, and prevalence of chronic sinusitis are the major factors fostering the market growth. The development of advanced surgery techniques helps increase the market dynamics by replacing the traditional procedures. Technological advancements, such as surgical laser technologies, in sinus surgery, ensure minimal ablation and have fewer side effects. Decreased turnaround time enables these procedures to be performed in outpatient departments.
The market 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.
In November 2017, Entellus Medical, Inc. announced that Anthem, Inc., an American health insurance company, provided insurance coverage for Balloon Sinus Dilation (BSD) used in the treatment of recurrent acute sinusitis and chronic sinusitis. Anthem, Inc. is a member of the Blue Cross Blue Shield Association, the second-largest health benefits plan provider that covers around 40 million people in the U.S. Other major health insurance companies providing coverage for standalone BSD are Medicare, Aetna, Cigna, TRICARE, Humana, Health Net, Kaiser, and United Healthcare.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Sinus Dilation Device market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Sinus Dilation Device market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 5.2 Billion by 2027 |
| Growth Rate | CAGR of 12% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Product, procedure, application, end use And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Stryker; Smith & Nephew; Olympus Corp.; Medtronic. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Sinus Dilation Device market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Regional analysis:
North America captured the largest market share of more than 41% in 2020 and is expected to continue its dominance over the forecast period. The dominance can be attributed to the presence of highly regulated and developed healthcare infrastructure. Moreover, the availability of advanced products due to the presence of major market players is boosting the market growth. Asia Pacific is projected to exhibit the fastest CAGR over the forecast period owing to an increase in disposable income and improvement in patient awareness about sinus surgical procedures.
Companies operating in the Asia Pacific regional market, such as Olympus Corp. and InnAccel Technologies, are focusing on mergers and acquisitions to expand their product portfolio and deliver high-quality products in emerging markets at an affordable price. For instance, in April 2017, Olympus Corp. entered into a definitive contract to acquire Image Stream Medical, Inc. for USD 87 million to improve medical solution assistance for healthcare facilities.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Sinus Dilation Device Market include: Stryker; Smith & Nephew; Olympus Corp.; Medtronic
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Sinus Dilation Device market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Sinus Dilation Device market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Sinus Dilation Device markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Sinus Dilation Device market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
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Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers