Western Europe Power Market for Sinus Surgery Highlights Over 2020 - 2029
The Western Europe power market for sinus surgery is estimated to garner a revenue of USD 94022.4 Thousands by the end of 2029, up from a revenue of USD 52819.3 Thousands in the year 2020, by growing with a CAGR of 6.6% during the forecast period, i.e., 2020-2029. The growth of the market can primarily be attributed to the increasing incidences of non-communicable respiratory diseases globally, and the growing burden of upper respiratory infections amongst individuals in the region. According to the statistics by the World Health Organization (WHO), the total number of deaths attributed to non-communicable respiratory diseases in Europe grew from 444316 numbers in the year 2000 to 458822 numbers in the year 2019. On the other hand, the age-standardized incidence rate of upper respiratory infections in Western Europe in the year 2019 recorded to around 274000 (per 100000 people). The market is also anticipated to grow on account of the increasing prevalence of sinus cases in Western Europe and for the growing advancements in the field of medical science.
Get more information on this report: Download Sample PDF
Backed by the growing incidences of sinus cases, the demand for surgery of sinus has increased significantly over the past few years. As a result, there is a growing need for power instruments amongst ENT surgeons for undertaking different surgical procedures. Moreover, growing number of rhinoplasty surgeries performed in the region is also expected to contribute to the market growth. According to the statistics by the International Society of Aesthetic Plastic Surgery (ISAPS), the total number of rhinoplasty surgeries performed in Germany, France, and the United Kingdom in the year 2019 registered to 14166 cases, 20796 cases, and 11987 cases respectively. Further, the rising healthcare expenditure in the region is also expected to accelerate the market growth. According to the statistics by the Organization for Economic Co-operation and Development (OECD), growth rates of health expenditure per capita of in-patient care in Europe grew from -0.5% during the period 2008-2013 to 2.7% during the period 2013-2018, while that of out-patient care increased from 0.7% to 3.6% during the same period. .
Western Europe Power Market for Sinus Surgery Regional Synopsis
Regionally, the Western Europe power market for sinus surgery is segmented into Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Portugal, Switzerland, Sweden, Spain, UK, and the Rest of Western Europe. Amongst the market in these countries, the market in Germany is expected to hold the highest market share throughout the forecast period and further attain the largest market revenue of USD 23968.8 Thousand by the end of 2029, up from USD 13152 Thousand in 2020. The market in the country is further expected to grow with a CAGR of 6.9% during the forecast period. One of the major factors anticipated to drive the growth of the market in the country is the growing healthcare expenditure. According to the statistics by the World Bank, the current healthcare expenditure as a share of GDP touched 11.43% in the year 2018. Further, the recent developments in computer-assisted ENT surgeries across German hospitals, and the rising functional endoscopic sinus surgery (FESS) rate among children in the country as compared to other countries, are some of the additional factors expected to drive the market growth. On the other hand, the market in Italy is anticipated to grow with the highest CAGR of 7.8% during the forecast period.
Growth Drivers and Challenges Impacting the Growth of the Western Europe Power Market for Sinus Surgery
Growth Drivers
- Rising Prevalence of Sinus Cases in Western Europe
- Rising Healthcare Expenditure
Challenges
- Lack of Skilled Personnel
Western Europe Power Market for Sinus Surgery Segmentation Synopsis
The Western Europe power market for sinus surgery is segmented on the basis of device type into capital and disposable. Out of these, the capital segment is anticipated to hold the largest market share and also grow with the highest CAGR of 6.7% during the forecast period. Further, the market is segmented on the basis of procedure into maxillary antrostomy, maxillary polypectomy, polypectomy, ethmoidectomy, sphenoidotomy, turbinoplasty, uncinectomy, rhinoplasty, and septoplasty. Out of these, the rhinoplasty segment is anticipated to hold the highest market share during the forecast period and further attain the largest market revenue of USD 13168.9 Thousand by the end of 2029 by growing with the highest CAGR of 7% during the forecast period. By end-user, the market is segmented into hospital, ambulatory surgery centers, and individual ENT clinics, out of which, the hospital segment registered the largest market revenue of USD 29952.6 Thousand in the year 2020 and is further projected to reach USD 53117.4 Thousand by the end of 2029.
Top Featured Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Western Europe power market for sinus surgery that are included in our report are KARL STORZ GmbH, Olympus Corporation, Bien-Air Medical Technologies, and others.
Key Reasons to Buy Our Report
- The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
- It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
- The report includes detailed company profiles of the major players dominating the market.
- We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
- We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
