The size of global functional endoscopic sinus surgery market in terms of revenue was estimated to be worth $1.2 billion in 2024 and is poised to reach $1.7 billion by 2029, growing at a CAGR of 7.6% from 2024 to 2029. The growth in this market is due to a significant shift towards minimally invasive, in-office surgery which is a more patient-friendly substitute. This has an added advantage over traditional procedures, for instance, less anaesthesia, more convenient, faster turn around times, and at reduced costs. Additionally, innovations in surgical techniques have emerged in MIS procedures like robotic-assisted surgeries which will offer improved precision and less tissue trauma. However, the shortage of skilled professionals and availability of non-surgical substitutes likely to restrain the market.
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The Functional endoscopic sinus surgery market is dominated by players such as Medtronic plc (Ireland), Stryker Corporation (US), Olympus Corporation (Japan), B. Braun Melsungen Ag (Germany), and KARL STORZ (Germany).
Functional Endoscopic Sinus Surgery Ecosystem
Prominent companies in this market include well-established, financially stable manufacturers of Functional endoscopic sinus surgery. These companies have been operating in the market for several years and possess diversified state-of-the-art technologies, product portfolios, and strong global sales and marketing networks. Prominent companies in this market include Medtronic plc (Ireland), Stryker Corporation (US), Olympus Corporation (Japan), B. Braun Melsungen Ag (Germany), and KARL STORZ (Germany).
In 2023, endoscopes segment to observe the highest growth rate of the functional endoscopic sinus surgery industry, by product.
The functional endoscopic sinus surgery market, by product, is segmented into endoscopes, surgical instruments, and navigation systems. The surgical instruments segment accounted for the largest market share in 2023. This is due to the growth in new surgical methods or techniques with improved set of instruments. The endoscopes segment to register highest CAGR during the forecast period. This is attributed to the increase in innovations in endoscopes technology such as 3D endoscopes.
In 2023, fungal sinusitis segment to dominate the Functional endoscopic sinus surgery industry, by indication
Based on indication, the functional endoscopic sinus surgery market is segmented into chronic sinusitis, recurrent sinusitis, nasal polyposis, fungal sinusitis, and other indications. The fungal sinusitis segment accounted for the largest market share in 2023. This can be attributed to the growing elderly population with weakened immune system and exposure of humans to indoor and outdoor fungal spores in the air and continuous inhalation of spores which gets deposited along the airway mucosa.
In 2023, hospitals & ASCs segment to dominate the Functional endoscopic sinus surgery industry, by end user.
Based on End user, the functional endoscopic sinus surgery market is segmented into hospitals & ASCs and specialty clinics. The hospitals & ASCs segment accounted for the largest market share in 2023. This is because ASCs manage a large volume of outpatient surgeries which gives patients a greater convenience and faster turnaround times. Also, reimbursement facilities favoring the patients will additionally aid into the market share of hospitals and ASCs.
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In 2023, North America to dominate in Functional endoscopic sinus surgery industry.
The global Functional endoscopic sinus surgery market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC. North America is expected to dominate during the forecast period, primarily due to the growing availability of government funding for healthcare and R&D spending, number of patients for chronic sinusitis are on the rise, awareness programs during the World Sinus Health Awareness Month, and the presence of major players in the US.