London, United Kingdom (PressExposure) July 07, 2011 -- The global ENT (ear, nose and throat) devices market is forecast to exceed $13 billion by 2017, increasing at a compound annual growth rate (CAGR) of 7% during 2010-2017. The ENT devices market is expected to be primarily driven by the increased adoption of technologically advanced equipment. According to the World Health Organization (WHO), January, 2011, about 300 million people worldwide currently suffer from moderate to severe hearing loss, and this number is expected to increase to 700 million by 2015. The percentage of the global population above the age of 60 is expected to rise to 17% by 2030, and as the risk of ENT disorders increases with age, demand for ENT devices is also expected to increase.
William Demant Holding A/S (WDH) and Sonova Holding AG are key companies currently operating in the ENT devices industry, with a 14% and 13.5% share of the global ENT devices market respectively. WDH has a diverse product portfolio and generates revenue through the development of products in three categories, namely hearing aids, diagnostic instruments and personal communication. The Oticon, Bernafon and Sonic brands of WDH are the main drivers of growth for the company, and the acquisition of Otix Global has strengthened WDH's distribution activities and added the Sonic brand to the company's hearing aid devices product line. Sonova Holding follows WDH with 13.5% share of the global ENT devices market. The company is a market leader in the development of innovative products, the Lyric system-a hearing aid launched by Sonova is invisible to people other than the wearer. Siemens Healthcare; a pioneer in the In The Ear (ITE) hearing aids market holds an 11% share in the global ENT devices market. Siemens Healthcare has launched a number of new products in hearing instruments; the latest in the series is the iMini hearing aid device. Cochlear Ltd. hold a 7.8% share in the global ENT devices market and is a global leader in the hearing implants market. In the future, companies are expected to focus on R&D and explore newer markets, whilst also aggressively marketing existing products.
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In 2010, the hearing aid devices category emerged as the largest category in the global ENT devices market, accounting for about 86% of the overall ENT devices market. The global hearing aid devices market was valued at $6.6 billion in 2010 and is forecast to grow at a CAGR of 6% to reach $9.9 billion in 2017. An increase in the penetration of hearing aid devices in the US and the UK and technological advances, such as open fir hearing aids, are driving the growth of the hearing aid devices market. In addition, ENT devices market growth has also been stimulated by higher levels of healthcare expenditure in developed economies and an increase in the adoption rate of hearing aid devices.
GBI Research's report, 'ENT Devices Market to 2017 - Cochlear Implants and Bone Anchored Hearing Implants are the Fastest Growing Segments' provides key data, information and analysis on the global ENT devices market. The report provides market landscape, competitive landscape and market trends information on four ENT devices market categories: diagnostic devices, hearing aid devices, hearing implants and voice prosthesis. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on the market dynamics. The report also reviews the competitive landscape and gives a detailed analysis of the pipeline products in each category. The report also reviews details regarding important merger and acquisition deals that have taken place in the ENT devices market during the past four years. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research's team of industry experts.
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