ENT Disorder Treatment Market: Top Key Players & Growth
Key players operating in the global ENT disorder treatment market include Sanofi, AstraZeneca, Novartis AG, Pfizer Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline Pharmaceuticals, Otonomy Inc., Merck & Co., Dr. Reddys Laboratories Ltd., Allergan plc, Cochlear Ltd., Sonova Holding AG, Siemens Healthcare, Starkey Laboratories Inc., William Demant Holding A/S, Widex A/S, GN ReSound A/S, Sonic Innovations Inc., Panasonic Corp., Beltone, Rexton Inc., Avada Hearing Care, Miracle-Ear Inc., MED-EL GmbH, Nuear Hearing Aids Inc., Audiosync Inc., Bernafon, American Hearing Systems Inc., Unitron Hearing Inc., and Zounds Inc.
The global ENT disorder treatment market was valued at US$ 9,521.1 million in 2016 and is expected to witness a robust CAGR of 3.22% over the forecast period (2017–2025).
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Major factor contributing to growth of the global ENT disorder treatment market includes increasing pollution. For instance, according to the World Health Organization 2015, over 4 million children die each year, globally due to environmental causes such as pollution and pollen grain infections. Several other factors contributing to the market growth includes, increasing R&D for drugs for treatment of ENT, and rising geriatric population and others. Rising awareness about the ENT treatments in emerging economies would increase the opportunities for market players to invest and capitalize in such regions. Asia Pacific is expected to witness significant traction in the global ENT disorder treatment market over the forecast period. This is owing to focus of key players on geographical expansion in the region and increasing R&D in ENT by various educational and research institutes in collaboration with local players. However, low awareness about the availability of treatments in some emerging economies such as several African countries as well as threat of developing antibiotic resistance are factors that are expected to hinder the market growth.
Factors such as sinusitis and aging, affects normal functioning of ear, nose and throat. ENT is one of the most important branches of medical science, also known as otolaryngology, which is focused on diagnosis and treatment of disorders associated with ear, nose, and throat. Dysfunction of these organs may affect the person’s quality of life. Disorders related to ENT are treated with the help of devices as well as various classes of drugs. The report mainly covers drug classes and medical devices used for the treatment of disease such as sinusitis, rhinitis, otitis media, tonsillitis, and others.
Increasing air and noise pollution is expected to aid in growth of ENT disorder treatment market
One of major factors leading to rise in number of ENT diseases is increasing air and noise pollution as well as bacterial concentration in the environment leading to various infections. According to the World Health Organization, 2017, around 40% of the European population is exposed to road traffic noise levels exceeding 55dB, leading to chronic hearing diseases such as loss of hearing, and earache. Moreover, air pollution can lead to throat infections as well as nasal infections leading to sinusitis and other disorders. According to the Centers of Disease Control and Prevention (CDC) 2017, around 25% of all hearing loss cases are due to noise and sound caused due to environmental pollution termed as Noise Induced Hearing Loss (NIHL). Moreover, excessive smoking can also lead to throat diseases leading to cancer. According to the American Cancer Society, 2013, around 26,000 people living in the U.S. were diagnosed with cancer of the larynx and throat due to tobacco smoking and consumption. Several other factors leading to growth of ENT disorder treatment market include high investments in R&D for development of ENT diseases treatment, especially for rhinitis; growing cases of bacterial diseases, and others. However, side effects and high cost of treatment coupled with low awareness about treatment for ENT disorders are factors expected to negatively affect growth of the market growth.
New development of antibiotics and increasing approvals of antibiotics would provide opportunities for the market growth over the forecast years. For instance, in April 2014, FDA approved Grastek (Timothy Grass Pollen Allergen Extract) for the treatment of pollen induced allergic rhinitis developed by Merck.
North America is expected to be dominant in the global ENT disorder treatment market over the forecast period. This is attributed to major presence of key players and increasing focus towards enhancing existing treatment options. For instance, in December 2017, Intersect ENT, Inc. — a U.S.-based company — received FDA approval for Sinuva (mometasone furoate) sinus implant as a treatment option for patients suffering from recurrent nasal polyps. Asia Pacific market is expected to witness a significant growth, owing to increasing awareness among people regarding availability of medical treatments for ENT disorders as well as expansion of key vendors in Asian countries by setting up new manufacturing and distribution facilities. For instance, in October 2017, GlaxoSmithKline — a major pharmaceutical player — opened Asia Headquarters in One-North Singapore.
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Development of new therapies and product launches are factors expected to boost the market growth
The recent past has witnessed a number of product approvals from the U.S. Food and Drug Administration (FDA) for ENT diseases, as a result of continuous R&D, to offer effective and efficient treatment options. For instance, in December 2015, Otonomy, Inc. — a U.S.-based company — received FDA approval for commercialization of its new antibiotic OTIPRIO (ciproflaxin otic suspension) for treatment of pediatric patients with bilateral otitis media. Key players are also focusing on inorganic strategies such as merger and acquisitions for enhancement of research department as well as commercialization of products in terms of sales and marketing. For instance, in July 2017, Entellus Medical announced a definitive agreement to acquire Spirox, Inc. a privately held ENT medical technology that develops, manufactures and markets absorbable nasal implants and other medical devices.
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