TORONTO, Sept. 24, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States ear, nose and throat (ENT) and bronchoscopy device markets will both see growth through 2021. Many ENT procedures are performed on children, and slow growth of this demographic will limit this already saturated market. Conversely, the bronchoscopy device market will be primarily influenced by the aging population, driving stronger growth in this space.
Although growth will be slower in the ENT device market, a few newer devices are seeing uptake. Balloon sinus dilation procedures have seen strong uptake since receiving designated Current Procedural Terminology (CPT) codes in 2011. This procedure has favorable reimbursement and is quite lucrative for physicians, in addition to being easy and convenient to perform in an office setting. Despite high physician interest, however, this segment will grow only modestly through 2021 due to growing price competition and an increased focus on providing evidence-based care; initiatives from the Centers for Medicare & Medicaid Services (CMS) will curb the liberal, and sometimes unnecessary, use of balloon sinus dilation devices.
The use of stroboscopy as a first-line diagnostic tool will spur growth in the number of throat procedures performed and, therefore, demand for the accompanying devices. Although widespread adoption of stroboscopy is currently limited by its prohibitive cost, the impact of cost will decrease through 2021 as the benefits of the procedure become more well known, leading to earlier and better management of conditions affecting the larynx and vocal folds.
"Greater use of endoscope sheaths will negatively impact both the flexible ENT endoscope and bronchoscope markets," said MRG Analyst Jason Lau. "These devices protect flexible endoscopes from damage they incur due to frequent reprocessing, thus prolonging device life spans and necessitating fewer replacement unit sales. In addition, physicians will increasingly prefer flexiblescopes that are compatible with sheaths, and competitors that do not offer such products could lose market share."
Millennium Research Group's US Markets for ENT and Bronchoscopy Devices 2013 report includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for ENT rod lens rigidscopes, ENT flexiblescopes, ENT radiofrequency and powered instruments, ENT hand instruments, myringotomy/tympanostomy devices, balloon sinus dilation devices, nasal packing devices, rigid bronchoscopes, white light flexible bronchoscopes, bronchial biopsy devices, bronchial/tracheal stents, rigid bronchoscope hand instruments and bronchial foreign body removal devices in the United States.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact:
|SOURCE Millennium Research Group|
Copyright©2012 PR Newswire.
All rights reserved