CHICAGO, July 24,
2024 /PRNewswire/ -- The global Functional
Endoscopic Sinus Surgery Market is expected to grow from
USD 1.2 billion in 2024 to
USD 1.7 billion by 2029, at a CAGR of
7.6%. The growth of the Functional Endoscopic Sinus Surgery (FESS)
market is driven by a shift towards minimally invasive, in-office
surgeries offering advantages like less anesthesia, faster
turnaround times, and reduced costs. Innovations such as
robotic-assisted surgeries provide improved precision and reduced
tissue trauma. However, the market faces restraints due to a
shortage of skilled professionals and the availability of
non-surgical treatments. High prevalence of chronic sinusitis and
the demand for organ transplants and cell & gene therapy
present attractive opportunities, while challenges include storage
and transportation logistics. Major players like Medtronic,
Stryker, Olympus, B. Braun Melsungen, and KARL STORZ dominate the market, with the
endoscopes segment expected to register the highest growth rate due
to technological innovations. The fungal sinusitis indication
segment leads the market, supported by the increasing elderly
population and exposure to fungal spores. Hospitals and Ambulatory
Surgery Centers (ASCs) dominate the end user segment, benefiting
from high outpatient surgery volumes and reimbursement facilities.
North America is projected to
maintain market dominance, driven by government funding, rising
chronic sinusitis cases, awareness programs, and the presence of
major players.
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Medtronic plc (Ireland):
Market Leader in Functional Endoscopic Sinus Surgery
Medtronic plc (Ireland) led the
Functional Endoscopic Sinus Surgery (FESS) market in 2023, thanks
to its robust global distribution networks across North America, Europe, Asia
Pacific, Latin America, and
the Middle East & Africa. The company's leadership is further
bolstered by inorganic growth strategies, including its acquisition
of Intersect ENT in May 2022, which
expands its ENT portfolio and enhances its market presence with
innovative technologies.
Olympus Corporation (Japan):
Key Player in Functional Endoscopic Sinus Surgery
In 2023, Olympus Corporation (Japan) held the second position in the FESS
market. The company's strong global sales and distribution network
across 40 countries contribute to its significant market share.
Olympus focuses on organic growth strategies to boost its
dominance, leveraging its widespread operational presence across
the Americas, Eastern Europe,
Africa, the Middle East, Asia, and Oceania.
Stryker Corporation (US): Major Competitor in Functional
Endoscopic Sinus Surgery
Stryker Corporation (US) secured the third position in the FESS
market in 2023. The company's extensive product portfolio spans
endoscopy equipment, neurovascular, orthopedic, and spine markets.
Stryker has expanded its reach and product capabilities through
strategic investments, including a 40% increase in storage capacity
at its Cary, Ireland warehouse in
August 2023 and the inauguration of a
high-tech facility in Anngrove, Ireland in August
2022.
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Procedure Segmentation: Maxillary Sinus Surgery Leads the
Market
The functional endoscopic sinus surgery (FESS) market is
segmented by procedure into frontal sinus surgery, ethmoid sinus
surgery, maxillary sinus surgery, sphenoid sinus surgery, and other
procedures. In 2023, the maxillary sinus surgery segment accounted
for the largest market share. This prominence is attributed to the
high frequency of maxillary sinus surgeries, increased patient
awareness, rising demand, and advancements in surgical
techniques.
End User Segmentation: Hospitals & ASCs Dominate
The FESS market is divided by end user into hospitals &
ambulatory surgical centers (ASCs) and specialty clinics. In 2023,
the hospitals & ASCs segment held the largest market share.
This is due to ASCs handling a significant volume of outpatient
sinus surgeries, offering greater convenience, faster recovery, and
discharge for patients. Hospitals & ASCs are also expected to
experience the highest compound annual growth rate (CAGR) during
the forecast period.
Regional Insights: North America Leads the Market
The FESS market is segmented by region into North America, Europe, Asia
Pacific, Latin America, the
Middle East & Africa, and GCC countries. In 2023,
North America accounted for the
largest share of the global FESS market. The region's dominance is
driven by increased government healthcare investments, favorable
healthcare reforms, and supportive regulatory scenarios, which
benefit manufacturers operating in the region.
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