U.S. sinus dilation devices market to accrue appreciable proceeds by 2025, hospitals to crop up as a viable end-use domain for the global industry
Publisher : Fractovia | Published Date : 2019-03-15Request Sample
The rising cases of chronic sinusitis & the growing number of patients opting for sinus dilation procedures will fuel sinus dilation devices market growth in the years ahead. According to the National Center for Biotechnology Information (NCBI) 2018 reports, sinusitis is slated as one of the most common causes for seeking medical attention, as over 30 million diagnoses are annually carried out in the U.S. alone. Acute symptoms are mainly diagnosed with patients undergoing four or more episodes of sinusitis in a year which mandates necessary clinical treatments or procedures involving sinus dilation devices.
U.S. Sinus Dilation Devices Market, By Product, 2018 & 2025 (USD Million)
Factors such as harsh environmental conditions, allergies, and viral or bacterial infections also pose a threat to patients with sinusitis. Driven by these conditions that have seemingly escalated of late, the commercialization graph of the global sinus dilation devices market will only serve to expedite in the years ahead.
Will the upsurge in sinusitis symptoms due to high-stress levels and lower immunity lead to sinus dilation devices market growth?
Chronic sinusitis is one of the most common chronic diseases diagnosed in different age groups across the globe. According to medical experts, high-stress levels, low nutrition food intake and lack of sleep and exercise can significantly lower a person’s immunity to viral infection, a major contributor to sinusitis. People over 60 years of age are also often prone to viral infections due to their natural tendency to lower immunity as an aging sign, making them more prone to chronic diseases like sinusitis.
Reports from the World Health Organization (WHO) 2018 report estimate that, by 2050, the world’s elderly population aged over 60 years is estimated to be 2 billion, up from 900 million in 2015. Moreover, 80% of the geriatric population is anticipated to be living in low- and middle-income countries, regions that currently face a dire demand for efficient sinusitis treatments and solutions. The rapid upsurge in the elderly populace vulnerable to sinusitis and the prevalence of low immunity levels across a certain worldwide demographic will thus push sinus dilation devices industry trends in the coming years.
Advancements in less invasive sinusitis treatments to propel the industry growth
Balloon sinus dilation (balloon sinuplasty) devices have seemingly revolutionized sinus procedures in recent years. The device is clinically proved for treating patients suffering from chronic sinusitis or recurrent acute sinusitis as it offers an improved alternative to traditional endoscopic sinus surgery. The tool efficiently improves sinus drainage using a less invasive approach without damaging the sinus mucosa, further making balloon sinus ostial dilation an effective technique in the management of various sinus pathologies. The surging demand for the product for sinus treatment will thus foster the sinus dilation devices market growth over 2019-2025.
Given the robust demand for such procedures, it comes as no surprise that medical centers and hospitals have emerged as a lucrative end-use avenue for sinus dilation devices market. Indeed, estimates claim sinus dilation devices industry size from hospitals to have been pegged at USD 830.4 million in terms of revenue in 2018. The rising cases of chronic sinusitis are anticipated to further push the demand for the hospitals segment in the years to come.
The United States sinus dilation devices market is estimated to depict skyrocketing growth trends in the years to come, mainly the high prevalence of sinusitis in the country. According to American College of Allergy, Asthma and Immunology’s (ACAAI) recent report, sinusitis afflicts around 31 million people in the U.S. while over USD 1 billion is spent by Americans each year on over-the-counter medications to treat symptoms.
Reports claim that sinus infections are being identified as the primary reason for around 16 million doctor visits in the U.S. and contribute to around USD 150 million worth of spending on prescription medicines every year. Not to mention, the U.S. is also remnant of numerous government initiatives that are being undertaken to lower the cost of sinusitis procedures, which would help augment the U.S. sinus dilation devices industry growth.
Driven by the high demand for advanced, painless procedures and products coupled with the presence of key players in the region, the United States sinus dilation devices market revenue was pegged over USD 522 million in 2018.
Technological advancements in sinus dilation devices like balloon dilatational systems that use a minimally invasive approach have revolutionized the industry in recent years. Increasing focus by industry players to develop technologically advanced devices coupled with growing patient demand for minimally invasive procedures will push the sinus dilation devices industry growth in the coming years. According to Global Market Insights, Inc., the sinus dilation devices market is predicted to hit the USD 3 billion mark by 2025.
