The ****** Sinus Dilation Device Market size is estimated to reach USD 4.6 billion by 2028, registering a CAGR of 11.0%, according to a new report by Grand View Research, Inc. Changes in lifestyle, increasing cases of obesity, and a resultant rise in the incidence of sinus-related conditions are the major factors contributing to the market growth. The introduction of technologically advanced devices is also one of the key factors boosting market growth. Major market players are focusing on R&D activities to introduce minimally invasive procedures creating a positive impact on the adoption of MIS procedures.
Some of the inventions in the market related to endoscopic approaches include a nasal endoscope, rhinoscopes, and balloon sinus dilation devices. An increase in medical reimbursements across major markets is likely to fuel the market growth. Rising adoption of health insurance and growing per capita expenditure coupled in developed as well as developing countries is predicted to augment the market growth.
In November 2017, Entellus Medical, Inc. announced that Anthem, Inc., an American health insurance company, provided insurance coverage for Balloon Sinus Dilation (BSD) used in the treatment of recurrent acute sinusitis and chronic sinusitis. Anthem, Inc. is a member of the Blue Cross Blue Shield Association, the second-largest health benefits plan provider that covers around 40 million people in the U.S. Other major health insurance companies providing coverage for standalone BSD are Medicare, Aetna, Cigna, TRICARE, Humana, Health Net, Kaiser, and United Healthcare.
Sinus Dilation Device Market Report Highlights
- The BSD devices segment held the largest revenue share in 2020 and will retain the leading position throughout the forecast period
- The hybrid procedure segment led the market in 2020 and is also expected to register the fastest CAGR during the forecast period
- Hybrid procedures are useful and effective in adults as well as pediatrics for the treatment of frontal chronic rhinosinusitis
- The adult application segment held the largest market share in 2020 owing to the high prevalence of chronic rhinitis among the adult population
- The hospitals end-use segment accounted for the highest share in 2020 owing to advanced infrastructure and an increasing number of patient visits in hospitals as compared to other healthcare facilities
- North America is projected to account for the largest market share by 2028 due to the high adoption of novel technologies by ENT surgeons as well as other healthcare professionals in the region