July 18, 2022 09:10 ET | Source: CMI CMI
Seattle, July 18, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global ENT disorder treatment market is estimated to be valued at US$ 11,219.19 million in 2022 and is expected to exhibit a CAGR of 3.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global ENT Disorder Treatment Market:
Key players are focusing on developing and updating their products with new technologies to treat various types of infection related to ear, nose, and throat. Market players are conducting clinical trials and a large number of treatment drugs and devices are in pipeline for approvals. For instance, in February 2018, Tusker Medical, a medical platform focused on delivering innovative technology to ear, nose, and throat surgeons and their patients announced their first patient enrollment for pivotal clinical trial for tympanostomy tube replacement that is performed for recurrent ear infections or persistent fluid in the middle ear.
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The global ENT disorder treatment market is expected to exhibit a CAGR of 3.3% during the forecast period due to the increasing approval of new drugs. For instance, in March 2022, molnupiravir (Lagevrio), an oral antiviral medicine, was listed on the General Schedule (S85) as Authority Required (Streamlined) for specific patient groups with mild-to-moderate COVID-19 at high risk of severe disease. It is the first treatment listed on the Pharmaceutical Benefits Scheme (PBS) for COVID-19.
Among end users, hospital segment holds a dominant position in the global ENT disorder treatment market, as most of the surgical, non-surgical as well as consultation procedures are conducted at hospitals. For instance, in July 2018, according to National Center for Biotechnology information, the American Academy of Otolaryngology- a tonsillectomy is a surgical procedure performed with or without adenoidectomy that completely removes the tonsil, including its capsule, by dissecting the peritonsillar space between the tonsil capsule and the muscular wall. In the U. S., tonsillectomy is one of the most commonly performed surgical procedures. Over 500,000 cases are performed annually in children less than 15 years of age in the U.S.
Key players operating in the global ENT disorder treatment market include Sanofi, AstraZeneca plc, 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.
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