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In 2015, the Fastest Growing Segment of the U.S. Market for ENT Endoscopic Devices Was the Balloon Sinus Dilation Segment, Increasing in Value From Approximately $50 Million in 2012 to Over $200 Million
VANCOUVER, BC --(Marketwired - January 14, 2016) - According to a new series of reports on the U.S. market for ENT and bronchoscopic devices by iData Research (www.idataresearch.com), the balloon sinus dilation (BSD) device market has experienced massive growth in recent years due to revisions in healthcare coverage, and the growing demand for minimally invasive treatments. BSD, or balloon sinuplasty, is a non-surgical procedure that has arisen to treat chronic sinusitis. Despite receiving FDA approval in 2005, these devices have only recently received insurance coverage and have been growing in clinical popularity ever since.
Balloon sinus dilation devices replace traditional functional endoscopic sinus surgery (FESS) for certain cases. Although the outcomes are similar, BSD requires no anesthetic, results in no bleeding and allows patients to return to work on an average of two days. Additionally, reimbursement rates for BSD procedures are approximately ten times greater than for FESS procedures, encouraging its use by health care practitioners.
"Achieving healthcare coverage has helped BSD products to reach a substantially larger customer base. The BSD segment value has increased by over 20% since 2014," explains Dr. Kamran Zamanian, CEO of iData. "However, the BSD market is expected to stabilize, resulting in more moderate growth rates over the forecast period."
Acclarent was the first competitor within the balloon sinus dilation device market and has established itself as the market leader. Acclarent's acquisition by Johnson and Johnson in 2010 has provided what the large sales and marketing teams needed to compete in this growing market. Due to Acclarent's early entry to this market and its affiliation with Johnson and Johnson, substantial benefits are due to name recognition.
As more competitors enter this market, companies are forced to lower device prices or create product bundles to stay competitive. Entellus offers several different models of BSD devices and offers a navigation product with its balloon dilation system. This allows for a packaging option with which Acclarent is currently challenged to compete.
Other competitors include Medtronic, who also offers an image guidance system pre-calibrated for use with its NuVent™ BSD devices. But unlike other competitors in this market, Medtronic also offers products to perform every other FESS procedure. This allows Medtronic to be the "one-stop-shop" for chronic sinusitis treatment.
For Further Information
More on the balloon sinus dilation device market in the US can be found in a report suite published by iData Research entitled the US Market for ENT and Bronchoscopic Devices Report Suite. The suite covers reports on the following markets: ENT Endoscopes, ENT Powered Instruments, ENT Hand Instruments, ENT Radiofrequency Devices, Balloon Sinus Dilation Devices, Bronchoscopes, Bronchoscope Hand Instruments, Bronchial Stents, Bronchial Forceps, Transbronchial Aspiration Needles, and Foreign Body Removal Devices.
Reports also provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment.
To find out more about ENT and Bronchoscopic device market data or procedure data, register online or email us at firstname.lastname@example.org for a US Market for ENT and Bronchoscopic Devices Report Suite report series brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental, and more.
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