LONDON--(BUSINESS WIRE)--The global ENT endoscopic and bronchoscopic devices market size is projected to reach USD 4 billion, growing at a CAGR of close to 4% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global ENT endoscopic and bronchoscopic devices market for 2017-2021. The research report segments the market into ENT endoscopy and bronchoscopy based on product type.
|Minimally invasive surgeries are witnessing a steadily growing preference, due to their shorter recovery periods and cosmetic appeal. This preference creates a high demand for the ENT endoscopic and bronchoscopic devices in various healthcare facilities, thereby driving market growth.|
Technavio’s research study segments the global ENT endoscopic and bronchoscopic devices market into the following regions:
Americas: largest ENT endoscopic and bronchoscopic devices market segment
“The Americas comprise the largest regional segment in the ENT endoscopic and bronchoscopic devices market, projected to be worth close to USD 2 billion by 2021. The high adoption rate of rigid ENT endoscopes and flexible bronchoscopes for a variety of procedures is driving the dominance of the segment,” says Srinivas Sashidhar, one of the lead analysts at Technavio for orthopedics and medical devices research.
The market in North America is dominated by large companies like Olympus, Karl Storz, Arthrex, and Teleflex. An increase in the awareness of technological advances in the field of otorhinolaryngology and pulmonology is leading to high rates of adoption of ENT endoscopes and bronchoscopes by hospitals in the region, thereby driving market growth.
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EMEA: presence of regional manufacturers creates a positive market scenario
The market in EMEA is expected to grow at a moderate rate over the forecast period, driven by an increase in advanced and safe rigid ENT endoscopes and flexible bronchoscopes. These devices as perceived as patient friendly, and being used for various ENT and pulmonary procedures in hospitals and ambulatory surgery centers (ASCs). Additionally, the presence of regional manufacturers such as Henke-Sass Wolf, Karl Storz, Richard Wolf, and Olympus has created a positive market scenario in Europe. The market in the Middle East is witnessing the significant adoption of these devices as well for the treatment of sinusitis and chronic obstructive pulmonary disease (COPD).
APAC: fastest growing ENT endoscopic and bronchoscopic devices market segment
“APAC will be the fastest growing regional segment, showcasing a CAGR of 4.26% over the forecast period. The market is witnessing swift adoption rates of these devices in countries such as China, Japan, Singapore, South Korea, and Taiwan, which is driving the impressive growth in the market share,” says Srinivas.
The use of flexible bronchoscopes to treat complex respiratory conditions such as COPD is increasing. Additionally, the market has the competitive presence of major manufacturers who are expected to strengthen their distribution network and further penetrate the untapped market, thereby driving market growth.
The top vendors in the global ENT endoscopic and bronchoscopic devices market highlighted in the report are:
- Karl Storz
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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