Saudi Arabia ENT Devices Market to Expand at Steady CAGR of 7.4% during 2022–2028
Saudi Arabia ENT devices market is flourishing because of growing geriatric population, increasing healthcare expense, high adoption of technological advancements, increasing number of ENT disorders and emergence of new market players.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Saudi Arabia ENT (Ear, Nose, Throat) Devices Market size to grow at a steady CAGR of 7.4% during the forecast period between 2022 and 2028. Major factors for the expansion of Saudi Arabia ENT devices market include surging demand for improved diagnostic and surgical ENT equipment, surging demand for minimally invasive ENT procedures, increasing healthcare expense, growing number of people suffering from ENT disorders, and emergence of new market players. ENT is regarded as one of the most important disciplines of medical science, concerned with diagnosing and treating issues involving the ear, nose, and throat. These devices assist clinicians in more precisely and successfully identifying and treating ENT disorders. Government’s initiatives focused at raising awareness about hearing loss and related remedies are expected to push the Saudi Arabia ENT devices market. In addition, ENT device manufacturers make significant investments in technology to create user-friendly and non-invasive equipment, which is expected to further boost the growth of Saudi Arabia ENT devices market during period in analysis. However, high cost involved in acquiring and investing in ENT devices is anticipated to hamper the market growth.
Saudi Arabia ENT Devices Market– Overview
ENT devices, which treat disorders in the head and neck structures such the ear, nose, and throat, are widely accessible on the market. Some of the most employed instruments are aural forceps, nasal forceps, tongue depressors, speculums, and laryngoscopes. These devices are in high demand because they make treatment simpler and more accessible. Furthermore, the rising incidence of ear, nose, and throat disorders in adults is a major driver of the demand for Saudi Arabia ENT devices. Less rigorous regulatory rules, increased urbanization, enhanced healthcare facilities, increasing disposable income, and a geriatric population that is rapidly aging provide many growth opportunities for the ENT market in Saudi Arabia. Many market participants are focusing their efforts on expanding their market presence in Saudi Arabia to capitalize on the growth potential in the ENT devices market.
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Saudi Arabia ENT Devices Market
Saudi Arabia ENT Devices Market – By Product
Based on product, Saudi Arabia ENT devices market is divided into Hearing Aids, Hearing Implants, Diagnostic ENT Devices, Surgical ENT Devices, and Nasal Splints segments. The hearing aids segment dominates the market, due to growing geriatric population associated with hearing impairment. The increasing availability of high-quality hearing aids will minimize the risk of dementia and boost cognitive learning. In addition, hearing aids reduce the annoyance associated with tinnitus, which encourages persons suffering from hearing loss to use hearing aid devices.
Impact of COVID -19 on Saudi Arabia ENT Devices Market
COVID-19 had a detrimental effect on Saudi Arabia ENT devices market due to worldwide closure of ENT clinics and the cessation of elective surgical operations in hospitals pushed down ENT product sales in the worst-affected months of 2020. The mobility restrictions imposed in most markets hampered the overall sector. Audiology stores, for example, the principal consumer channel for hearing care treatments and supplies, are either operating with severely reduced hours or have been closed. However, the commencement of surgical treatments and company business operations within the guidelines provided is projected to boost growth in the future years. Furthermore, ENT-related surgical volumes recovered quickly which in turn has increased demand for ENT products.
Major players operating in Saudi Arabia ENT devices market include Medtronic, Basha Group Ltd., Attieh Medico Ltd, Cochlear Ltd, Karl Storz Gmbh & Co. KG, Olympus Corporation, FUJIFILM Corporation, Hill-Rom Company, Inc., ReSound, and Omnia Health. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia ENT Devices Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia ENT Devices Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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