GlobalData11.08.21
The global market revenue for ear, nose and throat (ENT) devices, which mainly include the hearing implants and speech aid devices, is expected to grow at a compound annual growth rate (CAGR) of 4 percent from $1.5 billion in 2021 to $2.3 billion in 2030, according to GlobalData, a worldwide data and analytics company.
Kevin Dang, a medical data analyst at GlobalData, commented: “The main driver of this growth is the resumption of elective ENT procedures that were delayed or cancelled in 2020 due to the COVID-19 pandemic. GlobalData estimates that the elective procedures will recommence in 2021 and continue to address the backlog from the previous year. In 2020, the speech aid devices market suffered revenue losses of 19 percent. However, GlobalData estimates this market to recover by 30 percent in 2021.”
The ENT market recovery is backed by financial statements of the leading ENT manufacturers. For instance, Medtronic reported 45 percent growth in its ENT portfolio revenue for the fourth quarter ended on April 30, 2021.
“With an aging population across the globe, the frequency of hearing loss is on the rise," Dang said. "Consequently, the market for hearing implants is expected to grow and coupled with the return of elective procedures, the ENT devices market will thrive for the near future.”
Kevin Dang, a medical data analyst at GlobalData, commented: “The main driver of this growth is the resumption of elective ENT procedures that were delayed or cancelled in 2020 due to the COVID-19 pandemic. GlobalData estimates that the elective procedures will recommence in 2021 and continue to address the backlog from the previous year. In 2020, the speech aid devices market suffered revenue losses of 19 percent. However, GlobalData estimates this market to recover by 30 percent in 2021.”
The ENT market recovery is backed by financial statements of the leading ENT manufacturers. For instance, Medtronic reported 45 percent growth in its ENT portfolio revenue for the fourth quarter ended on April 30, 2021.
“With an aging population across the globe, the frequency of hearing loss is on the rise," Dang said. "Consequently, the market for hearing implants is expected to grow and coupled with the return of elective procedures, the ENT devices market will thrive for the near future.”