ENT devices recover in 2021 after turbulent 2020

With an ageing population across the globe, the frequency of hearing loss is on the rise. The market for hearing implants is expected to grow similarly and, coupled with the return of elective procedures, the ear, nose and throat (ENT) devices market will thrive in the near future.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.

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The main driver of this growth is the resumption of elective ENT procedures that were delayed or cancelled in 2020 due to the Covid-19 pandemic. GlobalData estimates that elective procedures will recommence in 2021 and continue to address the backlog from the previous year. In 2020, the speech aid devices market suffered revenue losses of 19%. However, GlobalData estimates this market to recover by 30% in 2021.

The ENT market recovery is backed by the financial statements of the leading ENT manufacturers. For instance, Medtronic reported an increase of 45% in its ENT portfolio revenue for the fourth quarter ending on April 30 2021.

According to GlobalData, the global market revenue for ENT devices is expected to grow at a compound annual growth rate (CAGR) of 4% to $2.3bn by 2030.