The global market value of ENT equipment has been steadily increasing year by year. According to the data released by the 6th European Otolaryngology Ent Surgery Conference, the global market value of ENT equipment was 12.37 billion euro in 2015 and is expected to reach 21.36 billion euro by 2022 with a compound annual growth rate (GAGR) of 8.1%.
Data show that North America was the largest market of global ENT medical equipment with 38% share in 2020. This was followed by the European market (31%, mainly the UK, France and Germany). Asia-Pacific Markets with a 25% share still has great potential.
According to clinical data, the risk of ENT disease increases with age. The incidence rate of ENT diseases among the aged is increasing. Aging is considered to be a key factor leading to deafness and other hearing impairment. And the number of elderly population is growing rapidly. WHO statistics shows that, by 2050, the elderly population will make up about 20% of the total population. This will lead to the increasing demand for ENT equipment in the next few years and the Ent equipment industry will develop rapidly.
The research and development of ENT equipment and technology enables medical staff to diagnose and treat ENT diseases faster. Minimally Invasive Surgery is becoming more and more popular. Generally, the old and young patients have weak immunity and slow recovery. Minimally Invasive Surgery has the characteristics of small injury, fast recovery, less stimulation and less scar. Because of these characteristics, Minimally Invasive Surgery is especially suitable for the elderly and young patients.
In recent years, due to extensive development and research, product technology has been improved. The government of underdeveloped countries has launched favorable policies to promote the upgrading of Otolaryngology medical facilities. And the number of Otolaryngology hospitals in many countries has increased. Therefore, the demand for ENT medical equipment will continue to rise.
According to data from the Centers for Disease Control and Prevention (CDC), about 12.1% of adults, or 28.5 million people, have persistent sinusitis. It is more than those with diabetes or asthma. In the United States alone, 11.6% of American adults are diagnosed with sinusitis by doctors. In China, the number of patients with sinusitis is about 300 million.
Rhinoplasty is one of the most popular facial plastic surgery. According to a report by the International Society for Aesthetic Plastic Surgery (ISAP), in 2018, rhinoplasty ranked among the top five surgical procedures worldwide, with more than 726907 operations. By 2028, the global rhinoplasty market is expected to reach $7.3 billion. And the Asia Pacific region is the fastest growing region.
The market potential of ENT medical equipment is still huge in the next few years. ENT Medical Instrument（Liaoning）Co., Ltd. will continue to work closely with researchers and medical workers to develop high-tech products, provide the medical staff with the most effective and easy-to-use surgical consumables, and bring the patients with otorhinolaryngology diseases the products of safe material and high comfort.