The global sinus dilation devices market size is expected to reach USD 3.6 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.9% during the forecast period. The market is driven by rising prevalence of chronic sinusitis. Moreover, increasing adoption of minimally invasive procedures owing to favourable reimbursement scenario is projected to augment the market growth. For instance, according to the Centers for Disease Control and Prevention in 2017, 26.9 million adults in U.S. were diagnosed with sinusitis, which was around 11.0% of the adult American population then.
North America was the dominant regional market for sinus dilation devices in 2017. The growth of this region was mainly due to the presence of a large number of key companies. Technological developments pertaining to sinus dilation devices by leading companies is expected to augment the North America and Europe market growth. In addition, mergers and acquisitions, new product development, and geographical expansion are other key strategies adopted by companies to increase their market penetration. For instance, in June 2015, Entellus Medical, Inc. launched XprESS LoProfile Multi-Sinus Dilation System in Europe. These surgical tools were equipped with multi-functional system, which combined balloon dilation with irrigation, suction, and image guidance.
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Further key findings from the report suggest:
- Balloon sinus dilation devices held the largest share in the past due to their greater acceptance and advancements in sinus surgical procedures
- Standalone procedures held major share of the global sinus dilation devices market in 2017 owing to the higher success rate of revision surgeries
- The hospitals end-use segment held the major share of the market in 2017
- Asia Pacific is likely to exhibit the fastest growth during the forecast period owing to increasing awareness about surgical procedures of sinus
- Increased disposable income, presence of target population, and improving healthcare infrastructure, and improvement in patient are also estimated to drive the regional market
- Few of the key companies in the market include Medtronic PLC; Smith & Nephew PLC; Acclarent, Inc.; Intersect ENT, Inc.; Entellus Medical, Inc.; Olympus Corporation; and SinuSys Corporation.