Sinus Implants Market Emerging Economies Expected to Influence Growth until 2028
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[ClickPress, Thu Sep 19 2019] Growth of sinus implants market can be attributed towards increasing demand for minimally invasive techniques and promising reimbursement scenario for the sinus procedures, especially in the developed regions. ENT clinics are expected to drive revenue growth of sinus implants market on account of increasing preference of patients towards treatments in ENT clinics, cost-effectiveness and faster recovery time. North America is anticipated to hold lion’s share in sinus implants market prominently owing to growing geriatric population and increasing adoption of innovative and new technologies amongst otolaryngologists and ENT surgeons. Asia-Pacific is expected to prove lucrative for sinus implants market owing to improving standard of living, rising medical tourism, large population base and growing prevalence of the sinus-related diseases.
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.
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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:
Based on end user, global Sinus Implants market is segmented as below:
Ambulatory Surgical Centers
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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.
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