During sinus surgery, sinus dilation devices are used to open up the damaged area or sinus. Sinus dilation is the procedure of opening up blocked sinus passageways in order to allow proper airflow and drainage. Sinus dilation products are systems that are used to perform sinus dilation. Sinus dilation operations are minimally invasive procedures with long-term effects that help sinus patients recuperate almost fully.
Sinusitis is the inflammation or swelling of the sinus tissue. The worldwide annual incidence of sinusitis has been increasing due to increased pollution levels. Several sinus therapeutic medications are utilized to treat sinusitis, which is expected to drive the global sinus dilation devices market. Moreover, the spike in the number of persons hooked to smoking, combined with a surge in worldwide pollution levels, has resulted in an increase in the number of people afflicted by sinusitis. This is expected to raise the demand for sinus dilation devices used to treat sinusitis, which is expected to bolster the worldwide sinus dilation devices market growth over the coming years.
The global sinus dilation devices market is estimated to reach US$ 4.7 Bn by 2031, advancing at a CAGR of 7.2% from 2022 to 2031 (forecast period).
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Balloon Sinus Dilation Devices Segment to Witness Significant Growth
The worldwide sinus dilation devices market is segmented by product into sinus stents, balloon sinus dilation devices, FESS instruments, endoscopy, and others. Endoscopy has been further divided into rhinoscopes and sinuscopes. The balloon sinus dilation devices segment is expected to be the largest revenue generator in sinus dilation devices market during the projected period. The use of balloon sinus dilation devices to conduct balloon sinus dilation treatments is becoming more popular. The worldwide sinus dilation devices market is being spurred by the benefits provided by balloon sinus dilation devices, including being less invasive than conventional sinus irrigation systems, as well as an increasing incidence of chronic sinusitis. As a result, the tendency is likely to continue during the projection period.
Moreover, the benefits of balloon sinus dilation operations include a higher success rate, a lower chance of structure or tissue damage, a lower requirement for post-surgery medicine, a shorter hospital stay, a faster recuperation time, and a lower risk of scarring and bleeding. Furthermore, the balloon sinus dilation method also saves money for both insurance companies and patients. The operation using a sinus balloon dilation device relieves patients of chronic sinusitis by conserving and restoring the patient’s normal sinus structure.
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North America to Maintain Leading Position in Worldwide Market
North America led the global sinus dilation devices market and is expected to continue throughout the forecast period due to the existence of a strictly regulated and robust healthcare system. Furthermore, the availability of technologically advanced products as a result of the existence of significant industry competitors is driving the sinus dilation devices market in North America.
Asia Pacific is expected to contribute to the global sinus dilation devices market, owing to rising disposable income and increased patient awareness about sinus surgery procedures. Moreover, emerging nations such as India and China are likely to provide revenue-generation opportunities in sinus dilation devices market in Asia Pacific. Firms in the Asia Pacific region, such as InnAccel Technologies and Olympus Corp., are concentrating on mergers and acquisitions to extend their product line and supply improved products at an inexpensive cost in growing markets. For example, in April 2020, Olympus Corp. acquired Image Stream Medical, Inc. for USD 87 million in order to increase medical solution support for healthcare institutions.