Nasometry devices play a vital role in accurate diagnosis of nasal airflow. These devices range from basic head mounted airflow sensors to advanced acoustic rhinometry systems for detailed analysis of nasal cavities. Nasometry helps ENT specialists thoroughly examine any abnormalities or blockage in nasal passages. Factors such as growing cases of allergies, sinusitis and snoring have bolstered demand for nasal assessment devices. The Covid-19 outbreak especially accelerated adoption of home healthcare tools including nasometry as patients preferred remote monitoring over hospital visits.
The Global Nasometry Devices Market is estimated to be valued at US$ 250.9 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the nasometry devices market are GM Instruments Ltd., Rose Medical Solutions Ltd., PENTAX Medical, Otopront GmbH, BioRESEARCH Associates, Inc., Medtronic, Homoth Medizinelektronik, Recorders Medicare Systems Private Limited, Atmos MedizinTechnik GmbH Co.KG, Collin Medical, Euroclinic MediCare Solutions, SWORD MEDICAL LTD., Glottal Enterprises Incorporated, and Vivos Therapeutics Inc.
The growing demand for home healthcare devices amidst the pandemic has significantly contributed to the market growth of nasometry devices. Major players are focusing on developing portable nasometry solutions integrated with telemedicine for remote patient monitoring.
Leading manufacturers are expanding their geographical footprint in high potential markets like Asia Pacific and Latin America. Rising medical tourism along with growing healthcare infrastructure and healthcare spending in developing nations is encouraging international players to tap into new regions.
Market Key Trends
Integrating advanced features like acoustic resonance technology for more precise acoustic rhinometry analysis of nasal cavity shapes is a key trend witnessed in the Nasometry Devices Market Demand. This helps ENT specialists gain deeper clinical insights from nasal scans. Furthermore, development of user-friendly interfaces and wireless connectivity in nasometry equipment enables seamless data transmission to physicians enabling remote consultations and continuous monitoring of patients.
Porter’s Analysis
Threat of new entrants: Low, as the established players dominate the market. Large investments and regulatory approvals also limit new companies from entering the market.
Bargaining power of buyers: Moderate, as there are few alternatives available for diagnostic and treatment devices. However, larger buyers can negotiate on price.
Bargaining power of suppliers: Moderate, as raw materials and components require specialized engineering and technology. Suppliers have some control over pricing.
Threat of new substitutes: Low, as nasometry devices provide unique diagnostic and treatment capabilities that alternatives cannot replace.
Competitive rivalry: High, as the major players compete on technology, pricing and geographic presence. Industry norms and standards also increase competition.
Geographically, North America holds the major share of the nasometry devices market in terms of value. Factors such as increasing respiratory disorders, growing healthcare expenditure, and availability of advanced healthcare infrastructure are supporting market growth in the region. Asia Pacific is expected to witness the fastest growth during the forecast period due to rising awareness, improving healthcare facilities, and growing medical tourism. China and India are emerging as lucrative markets in the region.
The nasometry devices market in Europe is driven by increasing government support for innovative medical technologies. Rising cases of allergies, sinusitis, and other nose-related disorders are propelling demand. Latin America and Middle East & Africa provide promising growth opportunities for players given rising healthcare investments and economic development in several countries.
Get more insights on - Nasometry Devices Market
Unlock More Insights—Explore the Report in the Language You Prefer.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
Comments on “Nasometry Devices Market Driven by Increasing Demand for Home Healthcare Monitoring During Covid-19 Pandemic”