Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Ear Infection Treatment Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”
LOS ANGELES, Aug. 05, 2021 (GLOBE NEWSWIRE) -- The Global Ear Infection Treatment Market is expected to grow at a CAGR of around 8.5% from 2021 to 2028 and to reach around US$ 9.6 Bn by 2028.
North America dominates; Asia Pacific to register fastest growing CAGR for the ear infection treatment market
North America holds the dominating share of the ear infection treatment market due to high prevalence of bacterial ear infections. According to a report released by the Icahn School of Medicine at Mount Sinai, Streptococcus pneumonia (also known as S. pneumonia or pneumococcal) is the most common bacteria responsible for acute otitis media in United States, accounting for 40% to 80% of cases in the United States. This is one of the most important factors that contribute to regional growth, which in turn fosters the overall ear infection treatment market. Furthermore, government support for ear infection treatment drives the growth of the ear infection treatment market in the United States.
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According to a report released by the United States Department of Health and Human Services, the National Institute on Deafness and Other Communication Disorders (NIDCD), a component of the National Institutes of Health (NIH), is involved in conducting and supporting research on the normal and disordered processes of various sensory organs. Such factors have impact positively for the growth of ear infection treatment market in North America ultimately contributing for the overall growth of the market.
Asia Pacific, on the other hand, is expected to have the fastest growing CAGR in the ear infection treatment market in the coming years. This is due to the high burden of diseases associated with otitis media (OM) in APAC countries, which is one of the key factors driving the overall ear infection treatment market growth. Furthermore, in developing Asia Pacific countries, a potential benefit for ear infection treatment is primarily associated with vaccination. As a result, AOM vaccination may offer a means of reducing antibiotic use and controlling antibiotic resistance disease in children. Such factors are responsible for the growth of ear infection treatment in APAC ultimately contributing for the overall market.
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Market Drivers
Research and development activities coupled with sponsorship is one of the preliminary factors that foster the growth of the global ear infection treatment market globally
According to a report released by the United States Department of Health and Human Services, researchers sponsored by the NIDCD are currently investigating various avenues to improve the prevention, diagnosis, and treatment of middle ear infections. Other research areas include why children have a higher prevalence of ear infections than others. Native American and Hispanic children, for example, have a higher prevalence of infections than other ethnic groups. NIDCD encourages further research into vaccines against some of the most common bacteria and viruses that cause ear infections. Such factors contribute to the growth of the global ear infection treatment market. A lot of research is being done to detect ear infections in children and the outcomes for proper treatment.
Segmental Outlook
The global ear infection treatment market is segmented as infection, cause, and treatment type. Based on type, the market is segmented as inner ear, middle ear, and outer ear. By cause, the market is segregated as bacterial infection, viral infection, and others. By treatment type, the market is segregated as drugs, surgery, and topical.
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Competitive Landscape
Major players play a vital role for driving the ear infection treatment market. Some of the leading competitors are American Diagnostic Corporation, Pfizer Inc., Medtronic plc, Heine USA Ltd., Torque Pharmaceuticals Pvt. Ltd., Olympus Corporation, Intersect ENT, Inc., and among others.
Some of the key observations regarding the ear infection treatment industry include:
- In August 2020, Sandoz has announced the release of a new product called "Ciprofloxacin + Dexamethasone otic suspension." The newly launched product is used to treat bacterial infections in the middle and outer ear canals. The product is an otic suspension and an authorized generic of the Novartis medicine Ciprodex® (ciprofloxacin and dexamethasone), otic suspension and is administered with a controlled dispensing system.
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