Global Tinnitus Market – Industry Trends and Forecast to 2029

Global Tinnitus Market Analysis and Size

The tinnitus market is expected to witness significant growth during the forecast period. Growing cases of earwax blockage, ear hair cell damage are the factors responsible for the growth of this market. Rising prevalence of tinnitus in geriatric population worldwide and emerging markets are the factors responsible for the growth of this market. In addition, advances in the treatment options and the presence of well-established healthcare facilities are some of the impacting factors for the growth of tinnitus market. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the tinnitus market in the forecast period 2022-2029. The expected CAGR of global tinnitus market is tend to be around 3.0% in the mentioned forecast period. The market was valued at USD 2.5 billion in 2021, and it would grow upto USD 3.17 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Tinnitus is the perception of noise, roaring, ringing or buzzing in the ears. It could be soft or loud, high pitched or low pitched and can be hear in either one or both ears. It is often diagnosed as a disease but it isn’t a disease itself rather it is the symptoms of other conditions such as circulatory system disorders, ear injury, and age-related hearing loss. Approximately 10% population of U.S. has experienced tinnitus which lasted for at least five minutes but now this reached to nearly 25 million in the U.S..  

Global Tinnitus Market Scope and Segmentation

Global Tinnitus Market Dynamics

Drivers

• Increase in Elderly Population

As per the reports of the National Institute on Aging, around 524 million individuals, were above the age of 65 in the year 2010. This number is expected to rise and reach upto 1.5 billion, which is approximately 16% of the global population, by 2050. This boost the market growth.

• Rising Demand for Oral Drugs

Oral drugs is expected to boost the market growth. The segment is expected to accelerate the global market as most products are available in capsule and tablet form and it is a very feasible route of administration.

Opportunities

• Increasing Prevalence of Tinnitus

As per the reports from the American Academy of Audiology, 2016, the prevalence for tinnitus ranged from around 5% to 42% and it is expected to drive growth of the tinnitus market. According to British Tinnitus Association, approximately 90% of the people who were witnessed with tinnitus found to have some kind of hearing loss. In addition to this, patients suffering from partial deafness or hearing loss also complained about suffering from tinnitus and undertake different management measures for tinnitus treatment. This is another factor expected to drive growth of the tinnitus management market.  

• Increasing Demand for Retail Pharmacies

Rise in the number of drugs for tinnitus being delivered through retail pharmacies and surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

 Restraints/Challenges

• Lack of Insurance Coverage

The lack of insurance coverage could curb the growth of the global tinnitus market over a forecast period. Insurance coverage may not consider and include tinnitus as indication, hence restricting patients from using treatment devices.

• High Cost

The huge expenditure associated with these agents surely hamper the market growth.

This tinnitus market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the tinnitus market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Tinnitus Market            

Considering the present scenario, COVID-19 has left an unprecedented global public health crisis that has impacted practically every business, and its long-term repercussions are expected to have an influence on industry growth during the forecast period. Transition of healthcare infrastructure toward managing COVID-19 has led to drug launch cancellations and delays in clinical trials.

In the post-pandemic era, the biotechnology and pharmaceutical industries are expected to witness a huge growth in the future, due to the demand for vaccine and treatment drugs for COVID-19. Thus, this will leave a significant impact on the calcium channel blocker market.

Global Tinnitus Market Scope

The tinnitus market is segmented on the basis of types, drug class, treatment, treatment type, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Types

• Subjective Tinnitus
• Objective Tinnitus
• Sensory Tinnitus
• Somatic Tinnitus
• Others

Treatment

• Medication
• Surgery
• Therapy
• Devices
• Others

Drug Class

• Antidepressants
• Benzodiazepine
• Corticosteroid
• Prostaglandin Analogues
• Others

Treatment Type

• Natural/Homemade
• Medical

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Global Tinnitus Market Regional Analysis/Insights

The tinnitus market is analysed and market size insights and trends are provided by types, drug class, treatment, treatment type, distribution channel and end-user as referenced above.

The major countries covered in the tinnitus market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific has been witnessing a positive growth for tinnitus market throughout the forecasted period due growing geriatric population suffering from hearing disorder and presence of generic manufacturers.

North America dominates the market due advanced technology and presence of key manufacturers.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Tinnitus Market Share Analysis

The tinnitus market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to  tinnitus market

Key players operating in the tinnitus market include:

• Mallinckrodt plc  (U.K.)
• Sun Pharmaceutical Industries Ltd. (India)
• Novartis AG (Switzerland)
• Endo Pharmaceuticals plc (Ireland)
• Zydus Group (India)
• Mylan N.V. (U.S.)
• Mayne Pharma Group Limited (Australia)
• Teva Pharmaceutical Industries Ltd (Israel)
• Amneal Pharmaceutical LLC (U.S.)
• Avet Pharmaceuticals Inc. (U.S.)
• Aurobindo Pharma (India)
• GSK plc (UK)
• Almirall, S.A (Spain)
• Merck & Co., Inc. (U.S.)
• Bausch Health Companies Inc. (Canada)
• Sandoz International GmbH (Germany)
• Pfizer Inc. (U.S.)
• AstraZeneca (U.K.)
• Sanofi (France)
• Bayer AG (Germany)
• McKesson Corporation (U.S.)

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