Sinus Dilation Devices Market Revenue to Hit $3 Billion by 2025: Global Market Insights, Inc.
North America sinus dilation devices market dominated with 34%+ revenue share in 2018 and is set to gain similar CAGR up to 2025.
SELBYVILLE, Del., January 30, 2019 (Newswire.com) - Germany's sinus dilation devices market held significant revenue share in 2018 and is anticipated to witness 7.4% CAGR during the forecast time-frame. A large number of people suffering from acute and chronic sinusitis will drive the business growth. Moreover, well-developed healthcare infrastructure coupled with increasing healthcare spending will further boost the industry growth in Germany.
Global Sinus Dilation Devices Market is projected to surpass USD 3 billion by 2025; according to a new research report by Global Market Insights, Inc. Sinusitis affects a large population base across the world. As per the Center for Disease Control and Prevention’s National Health Interview Survey, 30.8 million people in the U.S. were diagnosed with sinusitis in 2017. Furthermore, lifestyle changes, comorbid diseases as well as environmental factors will further surge the number of people suffering from sinusitis. The growing rate of chronic sinusitis will offer high growth opportunities to the players operating in the sinus dilation devices market and thereby will accelerate the industry size in coming years.
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A rapidly aging population-base prone to various chronic diseases owing to functional and structural changes will serve to be a major impact rendering factor on sinus dilation devices business growth. According to the United Nation’s World Population Ageing report, there were 962 million people in 2018 aged 60 years and above and the number is estimated to double to reach 2.1 billion by 2050. Moreover, technological advancement in sinus dilation devices will further favor industry growth. However, limited adoption of sinus dilation procedures in underdeveloped economies owing to the presence of sinusitis drugs and high procedure cost may hamper industry growth over the coming years.
Balloon sinus dilation devices segment accounted for more than 33% revenue share in 2018 and is anticipated to witness lucrative CAGR during the forthcoming years. High segmental growth is attributable to the focus of industry players on product differentiation that help in improving the accuracy of the sinus dilation procedures. Surging demand for balloon sinus dilation devices in sinus treatment will foster segment growth over the forecast period.
Browse key industry insights spread across 145 pages with 164 market data tables & 8 figures & charts from the report, “Sinus Dilation Devices Market Size By Product (Balloon Sinus Dilation Devices, Sinus Implants, Handheld Instruments, Sinuscopes, Rhinoscopes), By Procedure (Standalone Sinus Dilation Procedures, Hybrid Sinus Dilation Procedures), By End-use (Hospital, Physician's Office, Ambulatory Surgical Centers) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Spain, Japan, India, China, Brazil, Mexico, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Standalone sinus dilation procedures segment accounted for high revenue in 2018 and is estimated to show 9.0% CAGR over the forecast time-frame. Growing cases of sinus in developed, as well as developing countries, will primarily drive the segment growth. The growing preference for standalone dilation procedures owing to its high success rates will further favor segmental growth.
Hospital segment dominated the sinus dilation devices market with USD 830.4 million revenue in 2018. Growing cases of chronic sinusitis are expected to drive the segment growth during the forecast time-frame. Furthermore, the government in developing countries is undertaking initiatives to lower the cost of sinus dilation procedures being conducted in hospitals thereby fostering the segment growth.
U.S. sinus dilation devices market dominated North America region with USD 522.2 million in 2018 and is estimated to show a similar trend during the forecast time-frame. Growth is attributable to the high prevalence of sinusitis in the country. High demand for technologically advanced products coupled with a strong foothold of key industry players in the U.S. will further augment the sinus dilation devices business growth.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Source: Global Market Insights, Inc.