Global Tympanostomy Products Market, by Product Type (Tube Inserters and Tympanostomy Tubes), by Material (Silicone, Fluoroplastic, Titanium, and Stainless Steel), by Application (Recurrent Otitis Media with Effusion, Chronic Otitis Media, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 99.1 million in 2020 and is expected to exhibit a CAGR of 3.4% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Major companies are focusing on strategic mergers and acquisitions in order to strengthen their position in the global tympanostomy products market. For instance, in 2018, B.Braun Melsungen AG acquired bloodlines business of NxStage Medical, Inc. This acquisition helped the dialysis business of B. Braun Melsungen.
Major players are focusing on research and development of tympanostomy products. They are engaging in expansion or growth strategies to have lucrative opportunities in the market to grow in the near future. For instance, In July 2019, AventaMed DAC, an Ireland-based medical devices company that designs and develops innovative ENT medical devices, joined a consortium of leading healthcare companies to launch its Solo Tympanostomy Tube Device (Solo TTD) in the U.S.
Additionally, The National Evaluation System for Health Technology Coordinating Center (NESTcc) is a consortium that includes Abbott Diagnostics, Medtronic, and the U.S. Food and Drug Administration (FDA). This medtech organization connects regulators and the industry to share and evaluate real-world evidence in the regulatory process for medical devices.
Global Tympanostomy Products Market – Impact of Coronavirus (COVID-19) Pandemic
Browse 150 Market Data Tables and 31 Figures spread through 343 Pages and in-depth TOC on “global tympanostomy products market , by Product Type (Tube Inserters, Tympanostomy Tubes), by Material (Silicone, Fluoroplastic, Titanium, and Stainless Steel), by Application (Recurrent Otitis Media with Effusion, Chronic Otitis Media, and Others), by End User (Hospitals, Ambulatory Surgical Center, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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The market is expected to witness significant growth during the forecast period, as various companies are focusing on strategic mergers and acquisitions in the global tympanostomy products market.
For instance, in January 2020, Smith & Nephew, the medical technology company, acquired Tusker Medical, Inc., a California-based company and a developer of the Tula System. This new system is for in-office delivery of ear tubes to treat recurrent or persistent ear infections. This acquisition is aimed at increasing investment in innovative technologies that address unmet clinical needs.
Similarly, in July 2020, Summit Medical and Shippert Medical, the companies owned by Shore Capital Partners, combined into a new brand, Innovia Medical. Innovia Medical manufactures and commercializes the complete portfolio of Summit Medical and Shippert Medical products, which includes products/ devices of ear, nose, and throat (ENT), Tissu-Trans, InstruSafe, and others.
Key Takeaways of the Global Tympanostomy Products Market:
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