ENT Devices Market Major Driving Factors and Business Growth Strategies 2023
Posted by vamshi krishna on August 11th, 2020
The Business Research Company published its ENT Devices Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global ENT Devices market. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.
The report covers the ENT Devices market’s segments-
ENT Devices Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
The global ENT devices market is expected to decline from .3 billion in 2019 to .4 billion in 2020 at a compound annual growth rate (CAGR) of -19%. The decline is mainly because of worldwide supply and demand mismatches of resources due to the COVID-19 outbreak. There is an inadequate production of hearing implants, hearing aid, hearing diagnostic, voice prosthesis, and other ENT-related devices due to the restrictions imposed by governments of various countries to shutdown factories or function with minimal staffing to contain the spread of virus and keep the staff safe. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach .3 billion in 2023.
Customization of hearing aids and implants through 3D printing is one of the major trends in the ENT devices market. Companies in this segment design, develop and provide hearing aids in a range of colors, designs, metallics and prints depending on the patient’s needs.
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