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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=122377604

Browse in-depth TOC on "Functional Endoscopic Sinus Surgery Market"

356 - Tables
49 - Figures
273 - Pages

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.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=122377604

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.

For more information, inquire now! Inquire Now

Related Reports:

Sleep Apnea Devices Market

Ultrasound Market

Medical Equipment Maintenance Market

Respiratory Diagnostics Market

Diagnostic Imaging Market

Get access to the latest updates on Functional Endoscopic Sinus Surgery Companies and Functional Endoscopic Sinus Surgery Market Share

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.com/news-releases/functional-endoscopic-sinus-surgery-market-worth-1-7-billion-by-2029-driven-by-rise-in-technological-innovations--marketsandmarkets-302205067.html

SOURCE MarketsandMarkets