The sinus dilation devices market in Asia is expected to grow at the highest CAGR during the forecast period

Northbrook, IL -- (SBWire) -- 03/09/2021 --According to the new market research report "Sinus Dilation Devices Market by Product (Balloon Dilation, Stents, Endoscope (Rhinoscopy, Sinoscopy), Handheld), Procedure (Standalone, Hybrid), Patient Type (Adult, Pediatric), Patient Care Setting (ENT, Clinic, Hospitals, ASC) - Global Forecast" published by MarketsandMarkets™, is expected to grow from USD 1.80 billion in 2018 to USD 2.78 billion by 2023 at a CAGR of 9.1%.

Sinusitis is a very common medical condition that is caused due to the inflammation or swelling of the tissues lining the sinuses. Sinus dilation devices expand the sinus opening of the nose during sinus surgeries, thereby treating the drainage problem associated with nasal sinuses. Sinus dilation devices also include endoscopes and handheld devices used for visualization and support during sinus dilation procedures.

The sinus dilation devices market has been segmented, on the basis of product, into balloon sinus dilation devices, endoscopes, sinus stents/implants and handheld instruments. The endoscopes segment is further divided into sinuscopes and rhinoscopes.

Ambulatory Surgical Centers (ASCs);

Ambulatory surgical centers (ASCs) provide healthcare services and primary care to patients in an outpatient capacity. The minimally invasive procedure such as balloon sinus dilation can be easily performed in ASCs. Factors such as better infrastructure in ASCs are driving the growth of this segment. The cost-effectiveness coupled with the better reimbursement scenario than hospitals is also driving the growth of this segment.

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Market Segmentation in Detailed:

Based on product, the sinus dilation devices market is segmented into balloon sinus dilation devices, endoscopes, sinus stents/implants, and handheld instruments. The balloon sinus dilation devices market is further classified as standalone and hybrid according to the type of procedure. In 2018, balloon sinus dilation devices are expected to account for the largest share of the global sinus dilation devices market. This large share can be attributed to the rising prevalence of chronic sinusitis, increasing preference for minimally invasive surgical procedures, and the increasing focus of market players on launching advanced balloon sinus dilation devices.

Based on patient care setting, the sinus dilation devices market is segmented into hospitals, ambulatory surgical centers, and ENT clinics/in office. The ENT clinics/in office segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to increasing number of treatable patients in ENT clinics, faster recovery time, cost-effectiveness, and growing preference for minimally invasive techniques.

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North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to rapidly increasing geriatric population, rising prevalence of chronic sinusitis, higher adoption of new technologies among ENT surgeons and otolaryngologists, favorable reimbursement scenario, and the presence of major players in this region.

The sinus dilation devices market includes various small and large players. Key players in this market include Entellus Medical Inc. (a subsidiary of Stryker) (US), Acclarent Inc. (a subsidiary of Johnson & Johnson) (US), Medtronic plc (Ireland), Smith & Nephew plc (UK), Intersect ENT Inc. (US), and Olympus Corporation (Japan). Other players in the market include Meril Life Sciences Pvt. Ltd. (India), SinuSys Corporation (US), InAccel (India), Jilin Coronado Medical Ltd. (China), and Creganna Medical (Ireland).