Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSMay 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.
The Western Europe power market for sinus surgery is estimated to garner a revenue of USD 94022.4 Thousands by the end of 2029, up from a revenue of USD 52819.3 Thousands in the year 2020, by growing with a CAGR of 6.6% during the forecast period, i.e., 2020-2029. The growth of the market can primarily be attributed to the increasing incidences of non-communicable respiratory diseases globally, and the growing burden of upper respiratory infections amongst individuals in the region. According to the statistics by the World Health Organization (WHO), the total number of deaths attributed to non-communicable respiratory diseases in Europe grew from 444316 numbers in the year 2000 to 458822 numbers in the year 2019. On the other hand, the age-standardized incidence rate of upper respiratory infections in Western Europe in the year 2019 recorded to around 274000 (per 100000 people). The market is also anticipated to grow on account of the increasing prevalence of sinus cases in Western Europe and for the growing advancements in the field of medical science.
Backed by the growing incidences of sinus cases, the demand for surgery of sinus has increased significantly over the past few years. As a result, there is a growing need for power instruments amongst ENT surgeons for undertaking different surgical procedures. Moreover, growing number of rhinoplasty surgeries performed in the region is also expected to contribute to the market growth. According to the statistics by the International Society of Aesthetic Plastic Surgery (ISAPS), the total number of rhinoplasty surgeries performed in Germany, France, and the United Kingdom in the year 2019 registered to 14166 cases, 20796 cases, and 11987 cases respectively. Further, the rising healthcare expenditure in the region is also expected to accelerate the market growth. According to the statistics by the Organization for Economic Co-operation and Development (OECD), growth rates of health expenditure per capita of in-patient care in Europe grew from -0.5% during the period 2008-2013 to 2.7% during the period 2013-2018, while that of out-patient care increased from 0.7% to 3.6% during the same period. .CLICK TO DOWNLOAD SAMPLE REPORT
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.
FREQUENTLY ASKED QUESTIONS
The increasing sinus cases in Western Europe is one of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 6.6% over the forecast period, i.e., 2020-2029.
The lack of availability of skilled personnel for operating these tools is one of the major factors estimated to hamper the market growth.
The lack of availability of skilled personnel for operating these tools is one of the major factors estimated to hamper the market growth.
The major players in the market are KARL STORZ GmbH, Olympus Corporation, Bien-Air Medical Technologies, and others.
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.
The market is segmented by device type, procedure, end-user, and by region.
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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