Western Europe Power Market for Sinus Surgery Segmentation by Device Type (Capital, and Disposable); by Procedure (Maxillary Antrostomy, Maxillary Polypectomy, Polypectomy, Ethmoidectomy, Sphenoidotomy, Turbinoplasty, Uncinectomy, Rhinoplasty, and Septoplasty); and by End-User (Hospital, Ambulatory Surgery Centers, and Individual ENT Clinics) – Demand Analysis & Opportunity Outlook 2020-2029
Buy Now Report ID: 3446 | Published Date: Feb 08, 2023
Growth Drivers
Challenges
Regionally, the Western Europe power market for sinus surgery is segmented into Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Portugal, Switzerland, Sweden, Spain, UK, and the Rest of Western Europe. Amongst the market in these countries, the market in Germany is expected to hold the highest market share throughout the forecast period and further attain the largest market revenue of USD 23968.8 Thousand by the end of 2029, up from USD 13152 Thousand in 2020. The market in the country is further expected to grow with a CAGR of 6.9% during the forecast period. One of the major factors anticipated to drive the growth of the market in the country is the growing healthcare expenditure. According to the statistics by the World Bank, the current healthcare expenditure as a share of GDP touched 11.43% in the year 2018. Further, the recent developments in computer-assisted ENT surgeries across German hospitals, and the rising functional endoscopic sinus surgery (FESS) rate among children in the country as compared to other countries, are some of the additional factors expected to drive the market growth. On the other hand, the market in Italy is anticipated to grow with the highest CAGR of 7.8% during the forecast period.
The Western Europe power market for sinus surgery is segmented on the basis of device type into capital and disposable. Out of these, the capital segment is anticipated to hold the largest market share and also grow with the highest CAGR of 6.7% during the forecast period. Further, the market is segmented on the basis of procedure into maxillary antrostomy, maxillary polypectomy, polypectomy, ethmoidectomy, sphenoidotomy, turbinoplasty, uncinectomy, rhinoplasty, and septoplasty. Out of these, the rhinoplasty segment is anticipated to hold the highest market share during the forecast period and further attain the largest market revenue of USD 13168.9 Thousand by the end of 2029 by growing with the highest CAGR of 7% during the forecast period. By end-user, the market is segmented into hospital, ambulatory surgery centers, and individual ENT clinics, out of which, the hospital segment registered the largest market revenue of USD 29952.6 Thousand in the year 2020 and is further projected to reach USD 53117.4 Thousand by the end of 2029.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Western Europe power market for sinus surgery that are included in our report are KARL STORZ GmbH, Olympus Corporation, Bien-Air Medical Technologies, and others.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Western Europe power market for sinus surgery that are included in our report are KARL STORZ GmbH, Olympus Corporation, Bien-Air Medical Technologies, and others.
May 17, 2018: Olympus Corporation announced that it had launched the rhino-laryngo videoscope, ENF-VT3, which was scheduled for availability in the European market in the beginning of June. The device, which was known to be the world’s first videoscope, is equipped with 4-direction angulation capability, allowing physicians to access to the lesion of interest.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The increasing sinus cases in Western Europe is one of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 6.6% over the forecast period, i.e., 2020-2029.
Ans: The lack of availability of skilled personnel for operating these tools is one of the major factors estimated to hamper the market growth.
Ans: The lack of availability of skilled personnel for operating these tools is one of the major factors estimated to hamper the market growth.
Ans: The major players in the market are KARL STORZ GmbH, Olympus Corporation, Bien-Air Medical Technologies, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by device type, procedure, end-user, and by region.
Ans: The hospitals segment is anticipated to hold largest market size of USD 53117.4 Thousand by the end of 2029 and display significant growth opportunities.
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