Sinus Implants Market – Growth Assessment
The Sinus Implants Market is forecasted to witness a significant growth over the course of the forecast period according to a newly published report by Fact.MR. The study highlights the critical trends that are likely to mold the growth of the Sinus Implants Market in the forecast year 2018 to 2028. Further, the report introspects the various factors that are expected to influence the overall dynamics of the Sinus Implants Market.
The report is an essential tool for stakeholders, upcoming market players, established companies, and investors who are looking to establish a strong presence in the Sinus Implants Market landscape. A detailed understanding of the raw material suppliers, vendors, manufacturers, and other components of the supply chain is provided in report.
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Key Takeaways from the Report
- Current and future prospects of the Sinus Implants market in over the forecast period 2018 to 2028
- Opportunity analysis for investors and market players in various regional markets
- Regulatory and government policy framework relevant to the Sinus Implants Market
- Mergers, acquisitions, collaborations, and partnerships in the Sinus Implants Market
- Growth potential of the emerging market players in the Sinus Implants Market
The report caters to the following questions related to the Sinus Implants Market:
- What is the anticipated value of the Sinus Implants market in 2029?
- Who are the leading market players in the Sinus Implants Market in region 1 and region 2?
- Which region is expected to witness the highest growth in terms of value during the forecast period?
- How are market players in the Sinus Implants Market adjusting to the economic slowdown worldwide?
- Which country in region 3 is expected to have a majority of the market share during the assessment period?
Key players and manufacturers are taking immense initiatives by making heavy investments in Intersect ENT Inc. for expanding awareness regarding SINUVA sinus implants. SINUVA sinus implants is a new technique for treating nasal polyp disorder in adult patients. Extensive research and development has been carried out for launching this sinus implants and is clinically proven for reducing polyps as well as symptoms of the nasal congestion. However, recurring nasal polyposis has been posing great challenges for ENT physicians, thereby hampering the growth of sinus implants. This challenge has been significantly curbed with adoption of SINUVA sinus implants.
The sinuses are air-filled cavities presents around the area of nose and eyes. Sinus allows natural ventilation and drainage. However, in chronic sinusitis cases, sinus linings gets inflamed due to chronic infections and nasal obstruction, that lead to blocking of natural drainage passageways. Major symptoms associated with chronic sinusitis are nasal congestion, facial pain or pressure, discolored nasal discharge, difficulty in breathing, headache, fatigue depression among others. More than 31 million people are affected with chronic sinusitis each year in the US. Steroid medication is the first line of treatment for sinusitis. However, most of the patients treated with medication have poor response rate which results in more number of patients opting for surgical approach. The increased number of patients undergoing surgery named Functional Endoscopic Sinus Surgery (FESS) are performed to widen sinus passage. The FESS surgery have some complications such as scarring, new polyp growth to the patient which are eliminated through implantable sinus stents/spacers which are used following FESS procedure. These implants maintain patency of the sinuses and also help in controlled release of medication such as corticosteroid.
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Sinus Implants Market: Drivers and Restraints
Distinct attributes of sinus implants such as direct delivery of steroid medication to sinus cavity lining minimize or completely erase the need for additional oral corticosteroid medications. The effective delivery of corticosteroid reduced the post-surgery side effects such as discomfort, congestion, and scarring. The sinus implants also improve the success rate of FESS surgery and reduce the probabilities of additional surgery. The significant benefits of sinus implant in conjugation with FESS surgery is expected to fuel the market growth. In addition, the growing awareness among otolaryngologists about the use of sinus implant post FESS surgery through various certifications and courses spur the adoption rate of sinus implant globally. However, potential side effects such as premature displacement of implant, swallowing implant associated with sinus implant would hinder the market growth.
Sinus Implants Market: Segmentation
Tentatively, global Sinus Implants Market has been segmented on the basis of component, end user, and geography.
Based on implant type, global Sinus Implants market is segmented as below:
- Non-drug-releasing implants
- Drug-releasing implants
Based on end user, global Sinus Implants market is segmented as below:
- ENT Clinics
- Ambulatory Surgical Centers
Sinus Implants Market: Overview
Growing number of FESS based procedures pave the path for sinus implants market. The enhanced success rate of FESS procedures followed by sinus implants would be the key growth factor for sinus implant market. Favorable reimbursement guides (Category I CPT codes in 2011) for sinus implants are attracting large medical device manufacturers to enter into the market. Companies such as Medtronic have capability to build drug releasing stents. However, small companies are likely to gain competencies by developing novel product line in the market. However, risk of product liability claims to sinus implant imposes a threat to market growth due associated side effects, manufacturing defects, misuse or abuse of sinus implants products. Such product liability claims lead to costs of litigation, product recall from the market which eventually affects the revenue generation for the manufacturers.
Sinus Implants Market: Regional Outlook
Geographically, global sinus implants market is segmented into regions viz. North America, Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America & Europe region would witness double digits growth owing to shift in trend of hospital based FESS procedure to physician’s office. Another reason behind the lucrative growth opportunity of sinus implant market is increasing prevalence of chronic sinusitis which is anticipated to promote the growth of FESS procedure in the North America & European region. Medical tourism in ASEAN countries would be the key success factor for the growth of sinus implant market. The lower cost of FESS surgery over US/EU countries makes Asia region a favorable destination for FESS surgery.
Sinus Implants Market: Key Players
Some of the players identified in global Sinus Implants market include Intersect ENT, Inc. In Dec 2017, the company had received FDA approval for its SINUVA Sinus Implant indicated for nasal polyps treatment, in patients (above 18 years) who have undergone ethmoid sinus surgery. The approval was supported by the clinical outcome of 400 patients including RESOLVE II pivotal study.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Argentina, Mexico, Brazil)
- Europe (Germany, Italy, U.K, Spain, France, Russia, Poland)
- Asia Pacific Excluding Japan (India, Australia & New Zealand, China, ASEAN)
- Middle East and Africa (GCC, South Africa, Rest Of MEA)
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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