SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global sinus dilation devices market is valued at US$ 2.7 Billion in 2017, and is projected to exhibit a CAGR of 8.4% over the forecast period (2018 – 2026).
Key Trends and Analysis of the sinus dilation devices market:
Market players are focused on investing in research and development activities for novel sinus dilation devices for treating chronic sinusitis. For instance, in July 2016, Medtronic PLS received FDA’s expanded indication clearance for its NuVent Sinus Dilation System for revision sinus surgery. NuVent has inbuilt navigation technology, which enhances the results of balloon sinus surgery.
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Moreover, key players operating in the market are adopting acquisition strategies in order to gain access to innovative products and expand its product offerings in the market. For instance, For instance, in 2015, Smith & Nephew plc collaborated with Scopis GmbH for the distribution of its Scopis TGS, a navigation solution for the traditional FESS-based ENT surgery in the U.K., Ireland, and Belgium.
However, complications such as excessive and prolonged bleeding, post-surgical infections, which can be life threatening such as Methicillin-Resistant Staphylococcus Aureus (MRSA), and rare complications such as cerebrospinal fluid rhinorrhea are expected to limit adoption of Sinus dilation devices, thereby hindering the market growth.
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Key Market Takeaways:
- The sinus dilation devices market is expected to exhibit a CAGR of 8.4% during the forecast period (2018 – 2026), owing to increasing prevalence of chronic sinusitis. According to the Centers for Disease Control and Prevention (CDC), in 2016, around 26.7 million adults in the U.S. were diagnosed with chronic sinusitis.
- Market growth is attributed to approval and launch of novel products for nasal sinusitis. For instance, , In September 2013, Olympus Corporation launched DIEGO ELITE Multidebrider shaver system for use in minimally invasive sinus surgery at the annual meeting of American Association of Otolaryngology - Head & Neck Society (AAO-HNSF)
- Key players in the market are focused on adopting mergers and acquisitions strategies to enhance its product portfolio, which in turn is expected to propel the market growth over the forecast period. For instance, For instance, Stryker Corporation completed the acquisition of Entellus Medical Inc. in February 2018. Stryker Corporation is one of the key players in the global orthopedic and surgical market with vast sales network and global presence, which would benefit to effectively promote products that come with acquisition of Entellus Medical Inc.
- Key players operating in the global sinus dilation devices market include, Entellus Medical, Inc., Smith & Nephew Plc., Acclarent, Inc., B. Braun Melsungen AG, Medtronic Plc, Olympus Corporation, SinuSys Corporation, InnAccel Technologies, and Intersect ENT, Inc.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.