Global Otoscope Devices Market is Growing at a Significant Rate in the Forecast Period 2018-2025

Global Otoscope Devices Market is expected to reach USD 591.14million by 2025 from USD 423.80 million in 2017, at a CAGR of 4.4% in the forecast period 2017 to 2024. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

Global Otoscope Devices MarketAccess Full Report: http://databridgemarketresearch.com/reports/global-otoscope-devices-market/

Segmentation: Global Otoscope Devices Market

Product (Pocket Otoscope, Full Size Otoscope, Video Otoscope), Portability (Wall-Mounted, Hand-Held, Standalone), Type (Wired, Wireless), Mobility (Rigid, Flexible), Application (Diagnosis, Surgical), End User (Hospitals, ENT Centres, Clinics), Distribution Channel (Direct Tender, Retail), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)

Drivers: Global Otoscope Devices Market

The major factors contributing to the growth of the market includes factors such as increase in ENT related diseases and increase of the global medical tourism. On the other hand, less acceptance by audiologist may hinder the growth of the market.

RISING NUMBER OF EAR RELATED DISEASES

An ear infection occurs when a bacterial or viral infection affects the middle ear sections of the ear.. Ear infections can be painful because of inflammation and fluid accumulation in the middle ear. The ear infections can either be chronic or acute. Acute ear infections are painful, although, chronic ear infections can cause permanent damage to the middle and inner ear. This ear infection may reoccurs many times due to various reasons. Person who might have allergies to certain things or might be easily prone to cold may have high chance to catch the infection. Other major reasons which cause ear infection are improper function of the eustachian tube, which traps the fluid or bacteria inside the tube. According to the statics provided by U.S. Department of Health & Human Services, one out of every 10 children is suffering from ear related disease in America.  According to a research, it was also found that approximately 15.0% of American adults aged 18 and over report some trouble hearing.

Also according to an article published by “US National Library of Medicine National Institutes of Health”there were around 52.5% of males and 47.2% of females suffering from ENT diseases”.

Otoscope device are used for diagnosis and treatment of infections and diseases related to the ear. Hence, as the number of ear related diseases increases, the otoscope device market is positively affected.

TECHNOLOGICAL ADVANCEMENT

With increase in ear, nose and throat diseases, it has become vital for companies to manufacture smart and advanced technologies that offer accurate and proper care to patients. Several companies operating in this market are involved in the research and development (R&D) to manufacture and launch new products that can effectively cater to the needs of patients.

Below are some technologically advanced new products, launched by various companies:

  • Welch Allyn has manufactured pocket LED and pocket plus LED otoscopes with high-performance diagnostic tools that provide the right balance of color temperature, color appearance, and brightness. This pocket-sized otoscope is lightweight and portable.
  • Cupris Health LTD enables the remote analysis of patients by means of smartphone-connected medical devices and a secure communication software platform. It uses iPhone as a clinical-grade medical device, to show patients their conditions, and securely share images or videos with the patients to get more clear opinions.
  • The American Diagnostic Corporation has its plant in Ningbo which has got FDA approval .The FDA registration of the products will lead to acceptance of the product globally and are recognized safe for use, thus, leading to easy export of the products worldwide.

Technological advancement such as incorporation of imaging sensor with a series of surface-mounted LEDs for illumination has driven the market demand..

Prominent market participants are continuously investing in R&D to innovate new products in the market. However, the complexities in diseases and rising ENT infections has resulted in increased need for technologically advanced products for treatment. Hence, players are focusing on launching advanced products in the coming years.

Major Players: Global Otoscope Devices Market

Some of the major players operating in this market are Welch Ally, American Diagnostic Corporation, Orlvision GMBH, Heine USA LTD, Rudolf Riester GMBH (subsidary of halma plc), Luxamed, Sync Vision, Kirchner & Wilhelm GMBH +CO. KG, Cupris Health Ltd. among others