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Press Release: Tympanostomy Products Market to Surpass US$ 125.5 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Otitis media is a group of inflammatory diseases of the middle ear. Two types of otitis media are acute otitis media (AOM) and otitis media with effusion (OME). Tympanostomy tubes are used for the treatment of such ear infections. Factors such as approval and launch of novel products by market players, and the rising prevalence of ear infection such as otitis media with effusion and otitis media are expected to drive the global tympanostomy products market growth. For instance, according to the article Tympanostomy Tubes in Children published by Health Technology Assessment Program (HTA) in October 2015, 62% of children would have at least one episode of otitis media (OM) by the age of 1. The same source reported that 46% of children would have more than three episodes of otitis media with effusion (OME) by age 3 in the U.S.
Furthermore, increasing product launches is expected to drive growth of the global tympanostomy products market. For instance, in June 2020, Preceptis Medical, Inc., the U.S.-based medical equipment manufacturer, received the U.S. Food and Drug Administration (FDA) 510(k) clearance for Hummingbird, a tympanostomy tube system. This system is a novel tool that reduces trauma and procedure time for ear tube placement. It also allows ear, nose & throat (ENT) surgeons to perform ear tube procedures (tympanostomy) in young children without general anesthesia. Similarly, in 2017, AventaMed Ltd. received European regulatory approval for its solo tympanostomy tube device (Solo TTD), used for quick and simple insertion of ear grommets. For instance, in July 2019 for the solo tympanostomy tube device (Solo TTD), AventaMed Ltd. collaborated with Medtech for the U.S. Food and Drug Administration (FDA) approval to enter in the U.S market.
The global tympanostomy products market value is estimated to be valued at US$ 99.10 Mn in 2020 and is expected to exhibit a CAGR of 3.4% during the forecast period (2020-2027).
Figure 1: Global Tympanostomy Products Market Share (%) Value, By Region, 2020
Moreover, the increasing prevalence of ear infections is expected to drive growth of the global tympanostomy market. For instance, according to an article published in the American Medical Association (AMA), January 2020, pediatricians evaluated that acute otitis media is one of the most common illnesses in children. Around 50% children worldwide would have at least 1 ear infection by the time children turn 2. The most common age range in which children are prone to acute otitis media (AOM) is 3 to 24 months, globally.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2020: | US$ 99.1 Mn |
| Historical Data for: | 2016 to 2020 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 3.4% | 2027 Value Projection: | US$ 125.53 Mn |
| Geographies covered: |
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| Companies covered: |
Medtronic Plc, Olympus Corporation, Medasil Surgical Limited, PreceptisMedical, Acclarent Inc., Summit Medical, Adept Medical, Teleflex Medical Ltd., and AdventaMed |
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Global Tympanostomy Products Market – Impact of Coronavirus (COVID-19) Pandemic
The coronavirus disease (COVID-19) pandemic is the most recent disease outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as a pandemic on March 11, 2020.
Tympanostomy products are the products or tube insertion which are the primary surgical intervention for otitis media. This is a worldwide common health problem, especially in pediatrics. The tympanostomy tube, which is approximately 1/20th of an inch in width, is placed in the child’s eardrum (tympanic membrane) to ventilate the middle ear space. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 80.15 million infected individuals worldwide as of December 29, 2020. COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to lockdown, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to the transportation of tympanostomy products from one place to another.
Figure 2: Global Tympanostomy Products Market Value (US$ Mn), By Region, 2016 – 2027
North America is expected to hold dominant position in the global tympanostomy products market during the forecast period, owing to approval of advanced devices by regulatory authorities. For instance, in June 2020, Preceptis Medical, Inc., a U.S.-based medical equipment manufacturer, received the U.S. Food and Drug Administration (FDA) 510(k) clearance for Hummingbird, a tympanostomy tube system and a novel tool which reduces trauma and procedure time for ear tube placement. It also enables ear, nose & throat (ENT) surgeons to perform ear tube procedures (tympanostomy) in young children without general anesthesia.
In Europe, the increasing approval of products associated with tympanostomy by regulatory authorities is expected to boost growth of the market in this region. For instance, in 2017, AventaMed Ltd. received the European regulatory approval for its solo tympanostomy tube device (Solo TTD) used for simple and quick insertion of ear grommets.
Tympanostomy is a surgical approach for the diagnosis and treatment of the ear infection. The procedures are carried out with the tubes, which are surgically implanted into the eardrum to promote drainage of infected fluid from the middle ear. The rising cases of ear infections worldwide, especially, among children is boosting the market growth. According to an article published in the National Center for Biotechnology Information (NCBI), November 2020, around 80% of children across the globe would experience otitis media during their lifetime, and between 80% and 90% of all children would experience otitis media with an effusion before school age.
Market Dynamics
Increasing number of ear infection cases is expected to drive growth of this market. For instance, according to an article published in the National Center for Biotechnology Information (NCBI), December 2017, the prevalence of middle ear infections was 5.8%, of which 4% had chronic suppurative otitis media in Rwanda. Moreover, according to an article published by the Lucile Packard Children’s Hospital at Stanford, in November 2017, middle ear infections occurred in 80% of children by the time they reached age 3.
Furthermore, key players in the market are involved in developing novel tympanostomy products. The approval and launch of such advanced devices in the market is expected to significantly drive the market growth and create conducive environment for tympanostomy products market over the forecast period. For instance, in June 2020, Preceptis Medical, Inc., the U.S.-based medical equipment manufacturer, received the U.S. Food and Drug Administration (FDA) 510(k) clearance for Hummingbird, a tympanostomy tube system. This system is a novel tool that reduces trauma and procedure time for ear tube placement. It also allows ear, nose & throat (ENT) surgeons to perform ear tube procedures (tympanostomy) in young children without general anesthesia. Similarly, in September 2016, Acclarent, Inc., a part of Johnson & Johnson Services Inc. that focuses on designing, developing, and commercializing medical devices for ear, nose and throat, launched ACCLARENT AERA, an eustachian tube balloon dilation system.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 150 market data tables and 31 figures on ‘Global Tympanostomy Products Market – Regional forecast to 2027’
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