Ear Infection Treatment Market Estimated at US$ 14,345.6 Mn By 2028
An ear infection is an inflammation of the middle ear, usually caused by bacteria, that occurs when fluid builds up behind the eardrum. They can be either acute or sometimes chronic. An acute ear infection starts over a short period and is painful. Ear infections that last a long time or come and go are called chronic ear infections. Children are more likely than adults to get ear infections. Ear infections can also cause hearing loss due to inflammation and fluid buildup in the area behind the eardrum. Ear infections are one of the most common reasons parents take their children to the health care provider. Therefore, there is an increasing demand for safe and effective treatment across the globe.
Market Statistics:
The global ear infection treatment market is estimated to account for US$ 11,127.2 Mn in terms of value by the end of 2022.
Drivers:
Increasing prevalence of acute otitis media (AOM) is expected to augment growth of the global ear infection treatment market. Acute otitis media is defined as an infection of the middle ear, and children are more prone to middle ear infections than adults. For instance, according to the American Academy for Pediatrics, over 5,000,000 AOM cases occur annually in US children. In August 2021, the U.S. had nearly 20 million estimated cases of acute middle ear infections. This in turn is expected to increase demand for ear infection treatment in this region.
Opportunities:
High demand for safe/effective treatment is expected to offer significant growth opportunities for player in the global ear infection treatment market. Key players are focusing on developing and launching novel treatments to meet growing demand. For instance, in August 2020, Sandoz Inc. announced the US market introduction of Ciprofloxacin 0.3% + Dexamethasone 0.1% otic suspension 7.5mL ear drops for to treat middle ear and outer ear canal bacterial infections in adults and children 6 months of age or older.
Restraints:
High cost of treatment and complications related to surgical procedures are some major factors expected to hamper growth of the global ear infection treatment market. Chronic middle ear infections that don't go away after three months or more, or become worse and impact quality of life, may require surgery. The common ear infection can sometimes lead to hearing problems and, rarely, serious and even life-threatening complications.
Global Ear Infection Treatment Market - Impact of Coronavirus (Covid-19) Pandemic
Ear infections and COVID-19 share few common symptoms, most notably fever and headache. However, ear infections are not a commonly reported symptom of COVID-19, but researchers found that SARS-CoV-2 can infect inner ear cells, which could explain the hearing and balance issues in some COVID-19 patients. The new study from MIT and Massachusetts Eye and Ear provides evidence that the COVID-19 can indeed infect cells of the inner ear, including hair cells, which are critical for both hearing and balance. In some cases, COVID-19 can lead to ear infections. People may get ear infections following infection or as a complication of SARS-CoV-2, the virus that causes COVID-19. This in turn is expected to increase demand for safe and effective treatment, driving the growth of the market.
Key Takeaways:
The global ear infection treatment market was valued at US$ 10,671.9 Mn in 2021 and is forecast to reach a value of US$ 14,345.6 Mn by 2028 at a CAGR of 4.3% between 2022 and 2028.
Among infection type middle ear infection segment hold a dominant position in the global ear infection treatment market in 2021, accounting for 54.6% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
To know the latest trends and insights prevalent in the Global Ear Infection Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ear-infection-treatment-market-5095
Market Trends:
- Increase in product approvals and launches by market players is expected to aid in the growth of the global ear infection treatment market. For instance, in November 2019, the U.S. Food and Drug Administration (USFDA) approved Johnson & Johnson spinout’s device to deliver a treatment for recurrent ear infections in both adults and children.
- Increase in focus on the development of novel treatments is expected to drive growth of the global ear infection treatment market. For instance, in September 2018, EOSERA developed two new products for ear pain relief, Ear Pain MD and Ear Pain MD for Kids, is said to provide rapid pain relief for the symptom of ear pain, which is often associated with ear infections.
Competitive Landscape:
Major players operating in the global ear infection treatment market include GlaxoSmithKline Plc, Cipla Ltd., Sanofi, Grace Medical, Novartis, Pfizer Plc, Olympus Corporation, Johnson & Johnson, and American Diagnostic Corporation, among others.
Recent Developments:
In November 2021, Sanofi acquired Kadmon Holdings Inc. The acquisition further strengthens growth and expansion for the General Medicines portfolio.
In September 2019, Grace Medical, a leader in ear nose and throat surgical devices with a focus on otology, announced it has acquired EndoEar Endoscopic Instruments to access and remove hard-to-reach disease in the middle ear. This acquisition solidifies Grace Medical’s position as the global leader in ENT technology and innovation.
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