Growing number of FESS based procedures pave the path for sinus implants market. The enhanced success rate of FESS procedures followed by sinus implants would be the key growth factor for sinus implant market. Favorable reimbursement guides (Category I CPT codes in 2011) for sinus implants are attracting large medical device manufacturers to enter into the sinus implants market. Companies such as Medtronic have capability to build drug releasing stents. However, small companies are likely to gain competencies by developing novel product line in the market. However, risk of product liability claims to sinus implant imposes a threat to market growth due associated side effects, manufacturing defects, misuse or abuse of sinus implants products. Such product liability claims lead to costs of litigation, product recall from the market which eventually affects the revenue generation for the manufacturers.
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Sinus Implants Market: Drivers and Restraints
Distinct attributes of sinus implants such as direct delivery of steroid medication to sinus cavity lining minimize or completely erase the need for additional oral corticosteroid medications. The effective delivery of corticosteroid reduced the post-surgery side effects such as discomfort, congestion, and scarring. The sinus implants also improve the success rate of FESS surgery and reduce the probabilities of additional surgery. The significant benefits of sinus implant in conjugation with FESS surgery is expected to fuel the market growth. In addition, the growing awareness among otolaryngologists about the use of sinus implant post FESS surgery through various certifications and courses spur the adoption rate of sinus implant globally. However, potential side effects such as premature displacement of implant, swallowing implant associated with sinus implant would hinder the market growth.
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- Recent industry trends and developments
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Sinus Implants Market: Regional Outlook
Geographically, global sinus implants market is segmented into regions viz. North America, Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America & Europe region would witness double digits growth owing to shift in trend of hospital based FESS procedure to physician’s office. Another reason behind the lucrative growth opportunity of sinus implant market is increasing prevalence of chronic sinusitis which is anticipated to promote the growth of FESS procedure in the North America & European region. Medical tourism in ASEAN countries would be the key success factor for the growth of sinus implant market. The lower cost of FESS surgery over US/EU countries makes Asia region a favorable destination for FESS surgery.
Sinus Implants Market: Key Players
Some of the players identified in global Sinus Implants market include Intersect ENT, Inc. In Dec 2017, the company had received FDA approval for its SINUVA Sinus Implant indicated for nasal polyps treatment, in patients (above 18 years) who have undergone ethmoid sinus surgery. The approval was supported by the clinical outcome of 400 patients including RESOLVE II pivotal study.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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