Sonova Holding AG (Switzerland) and Olympus Corporation (Japan) are Leading Players in the ENT Devices Market
The global ENT Devices market size is projected to reach USD 22.3 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 6.6% during the forecast period. The growth in this market is attributed to the rising aging population and the associated hearing loss, rise in disposable income and increasing affordability for ENT treatment, improving healthcare infrastructure and expenditure, and rising product availability and awareness. Moreover, the growth opportunities in emerging markets are expected to provide growth opportunities for players in the ENT Devices market during the forecast period.
The ENT Devices market is highly consolidated and is dominated by various players. The major players operating in this market are Karl Storz Gmbh & co. KG (Germany), Medtronic plc (Ireland), Stryker Corporation (US), Olympus Corporation (Japan), Cochlear Limited (Australia), Sonova Holding AG (Switzerland), William Demant holding a/s (Denmark), etc.
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Sonova Holding AG (Switzerland)
Sonova Holding AG was a leading player in the ENT Devices market in 2020. The company has different brands that include Phonak, Unitron, Hanston, and Advanced Bionics. In order to strengthen its position, the company mainly focuses on the expansion of its business channels. For instance, in 2021, Sonova holding AG opens one of Switzerland’s first zero-energy office buildings in Switzerland to enhance its ENT product portfolio. Similarly, in 2020, Sonova holding AG expands its ENT product development and commercial manufacturing by setting up World of Hearing, which is a new store concept in the field of hearing solutions in the Netherlands. In 2020, Sonova holding AG launched new technology and enabled fully remote hearing aid fittings. In addition, in 2021, Sonova holding AG acquired Sennheiser to expand its offering and entering new growth markets, such as Hearing aid and hearing Implants.
Olympus Corporation (Japan)
Olympus corporation ranked second in the ENT Devices market in 2020. The company’s strong position in the market is attributed to its strong geographical presence and brand image. Moreover, the company offers ENT devices that include Endoscopes, Surgical Equipment & Disposables, Surgical Instruments, Implants, Ventilation Tubes & Accessories, ENT Supplies, Disposable Tonsil Adenoid Debride, Somnoplasty, and Ultrasonic Generators.
Related Reports:
ENT Devices Market by product (Diagnostic (Endoscope, Hearing Screening Devices), Surgical Devices, (Powered Surgical Instruments, ENT Supplies, Ear Tubes), Hearing Aids, CO2 Lasers, & End Users (Hospital & ASCs, ENT Clinics)- Global Forecast to 2026
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