Global Sinus Dilation Devices Market Expected to Reach $5,778 Million by 2023 - Allied Market Research

Monday, March 12, 2018 Research News
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PORTLAND, Oregon and PUNE, India, March 12, 2018 /PRNewswire/ --

According to a

new report published by Allied Market Research, titled, Sinus Dilation Devices Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,"the global sinus dilation devices market was valued at $3,326
million
in 2016, and is projected to reach $5,778 million at a CAGR of 8.1% from 2017 to 2023.

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Sinusitis is a medical condition wherein inflammation of sinus lining leads to a plugged nose, headache, poor sense of smell, sore throat, and cough. It is caused due to either ostial blockage, bacterial infections, viral infections, or a combination of these conditions. This leads to use of sinus dilation devices during surgical procedures to dilate the sinus openings of a patient's nose.

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The major factors that drive the global sinus dilation devices market are increase in incidence of sinusitis, which may lead to higher sinus surgeries, high adoption of minimally invasive surgical procedures, and technological advancements in sinusitis treatment. However, risks associated with sinus surgical procedures and low adoption of surgical procedures, due to presence of alternative sinusitis-related drugs, are expected to restrain the market growth. Conversely, untapped market potential in the emerging countries, such as China and India, and large investments by key players to develop advanced products are expected to provide lucrative opportunities to the market players.

The balloon sinuplasty systems segment accounted for the largest share in 2016, owing to the advancements in sinus surgical procedures, applicability, and their greater acceptance than invasive traditional surgeries. Furthermore, the sinus stents segment is expected to grow at a CAGR of 7.2% from 2017 to 2023, and maintain its dominance in the future as well.

The utilization rate of sinus dilation devices in hospitals & clinics is high; however, the ambulatory surgical centers segment is expected to grow at the highest CAGR. This is attributed to the increasing preference for less hospital stay-associated surgeries with advanced sinus dilation devices.

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Key findings of the Sinus Dilation Devices Market: 

  • The balloon sinuplasty system segment accounted for around three-fifths share of the global sinus dilation devices market in 2016.
  • The FESS instruments set segment is expected to grow at a CAGR of 9.3% from 2017 to 2023.
  • The hospitals & clinics segment accounted for around three-fourths share in 2016.
  • Europe accounted for around one-third share of the global sinus dilation devices market in 2016.

North America was the highest revenue contributor to the global sinus dilation devices market in 2016, and is expected to dominate the market during the forecast period as well. This is attributed to the early approval of sinus dilation devices and rapid use of these devices, owing to rise in number of sinus surgical procedures. However, Asia-Pacific is expected to grow at the highest CAGR of 9.6%, owing to increase in affordability, surge in healthcare expenditure, and rise in awareness towards sinusitis-related surgeries.

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About Us 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research



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