Medtronic plc (Ireland) and Olympus Corporation (Japan) are Leading Players in the Functional Endoscopic Sinus Surgery Market
The global functional endoscopic sinus surgery market is projected to reach USD 1.7 billion by 2029 from USD 1.2 billion in 2024, at a CAGR of 7.6% during the forecast period. The growing prevalence of chronic sinusitis, increasing preference for MIS, advancements in technology, growing awareness, improved patient outcome, and innovation in surgical techniques to drive the market. However, risks involved in surgeries and higher procedural costs restrain market growth. The Functional endoscopic sinus surgery market is consolidated and is dominated by few players. The major players operating in this market are Medtronic plc (Ireland), Olympus Corporation (Japan), Stryker Corporation (US), B. Braun Melsungen Ag (Germany), and KARL STORZ (Germany).
Medtronic plc (Ireland)
Medtronic Plc held the leading position in the FESS market in 2023. This is due to Medtronic’s strong distribution networks across the globe including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. To increase its dominance, Medtronic is adopting inorganic growth strategies in this market. In May 2022, for instance, Medtronic entered into the acquisition with Intersect ENT which will expand the company’s ENT portfolio. These developments will enable Medtronic to expand innovative technologies and products to its portfolio, which, in turn, will boost the company’s presence in the FESS market.
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Olympus Corporation (Japan)
In 2023, Olympus Corporation held the second position in the FESS market. The company’s leading position can be attributed to its strong global sales and distribution network. The company adopts organic growth strategies to increase its dominance in this market. The company operates in 40 countries across Americas, Easter Europe, Africa, the Middle East, Asia, and Oceania.
Stryker Corporation (US)
In 2023, Stryker Corporation held the third position in the FESS market. Stryker offers a broad product portfolio in the endoscopy equipment and neurovascular, orthopedic, and spine market. The company has conducted expansions in this market to strengthen its reach and product portfolio. For instance, in August 2023, Stryker expanded its warehouse in Cary, Ireland, increasing its storage capacity by 40%. Additionally, in August 2022, Stryker inaugurated its high-tech facility at Anngrove, Ireland and made significant investments in this new development.
Related Reports:
Functional Endoscopic Sinus Surgery Market by Product (Endoscopes (Sinuscopes, Rhinoscopes), Surgical Instruments, Navigation Systems), Procedure (Maxillary, Ethmoid), Indication (Chronic Sinusitis, Nasal Polyposis), Patient type - Global Forecast to 2029
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