PUBLISHER: The Business Research Company | PRODUCT CODE: 1415781
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415781
“Ear Infection Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ear infection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ear infection? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ear infection market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
An ear infection is a medical condition that occurs when the eardrum becomes infected by bacteria or viruses. This condition is characterized by symptoms such as ear pain, discomfort, reduced hearing, fluid discharge from the ear, and a sensation of pressure or fullness in the affected ear. Treatment for ear infections typically involves pain management through various medical interventions and therapies.
Ear infections are categorized into three main types such as middle ear, outer ear, and inner ear infections. The middle ear is an air-filled space lined with a membrane, located between the ear canal and the Eustachian tube, cochlea, and auditory nerve. Infections caused by various pathogens, including bacteria and viruses, can be managed with medications, antibiotics, analgesics, antiviral drugs, and in some cases, surgical interventions. These treatments are available through different distribution channels, including hospital pharmacies, retail pharmacies, online pharmacies, and others. They are commonly administered in healthcare settings such as hospitals, specialty clinics, homecare, and various other medical facilities.
The ear infection market research report is one of a series of new reports from The Business Research Company that provides ear infection market statistics, including ear infection industry global market size, regional shares, competitors with a ear infection market share, detailed ear infection market segments, market trends and opportunities and any further data you may need to thrive in the ear infection industry. This ear infection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ear infection market size has grown strongly in recent years. It will grow from $12.12 billion in 2023 to $12.82 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to antibiotic use, pediatric population growth, ear tube insertions, improvements in diagnosis.
The ear infection market size is expected to see strong growth in the next few years. It will grow to $16.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to antimicrobial resistance, telemedicine and remote consultations, advanced diagnostic tools, patient-centered care. Major trends in the forecast period include preventive measures, customized treatment plans, home care and self-management, global expansion.
The anticipated growth of the ear infection market is set to be propelled by the increasing prevalence of hearing loss. This condition, characterized by partial or complete hearing impairment, can result from damage to various auditory components, including the vestibulocochlear nerve, outer, middle, or inner ear. Ear infections, in particular, pose a significant risk of severe hearing loss, as infectious fluids within the middle ear can lead to permanent hearing impairment or damage to the eardrum. As an illustration, data from the World Health Organization in March 2022 revealed that in America, approximately 217 million individuals are affected by hearing loss, constituting 21.52% of the population in 2022. Projections indicate that this number is expected to rise to 322 million by the year 2050. Additionally, in May 2023, the European Hearing Instrument Manufacturers Association reported a remarkable 37% increase in global hearing aids sales, surging from 14.12 million in 2020 to 19.34 million in 2021. Consequently, the increasing prevalence of ear infections is poised to drive the ear infection market.
The ear infection market's growth is anticipated to receive a substantial boost from the rising prevalence of ear infections in children. Ear infections in children, medically known as acute otitis media (AOM), encompass inflammation of the middle ear, the air-filled space located behind the eardrum. This condition is particularly common among children with allergies, colds, or sore throats, as the swelling in their nasal passages and throats can obstruct the drainage tube responsible for eliminating fluid from the middle ear. For instance, in August 2021, a study conducted by the European Public Health Association, involving 23 children, revealed that around 17 of them, equivalent to 34.8%, were diagnosed with AOM. Consequently, the increasing prevalence of ear infections among children is a driving force behind the growth of the ear infection market.
The ear infection market faces substantial hurdles due to the elevated costs and complications linked to surgical interventions for ear infections. These challenges pose significant obstacles to both patients and healthcare systems, potentially exerting an impact on the overall growth of the market. The term "high cost of treatment" refers to the escalated expenses associated with healthcare services, encompassing medical examinations, therapies, and surgical procedures. These financial burdens can have repercussions on the ear infection market by influencing the accessibility and affordability of treatment options, ultimately affecting market growth. As an example, a study conducted by the National Library of Medicine in July 2022 highlights the significant concerns associated with the costs and complications of ear infections. The study revealed an increase in the average annual cost of middle ear surgery, rising from €1130 to €1926, underscoring the growing expenses tied to surgical procedures. Consequently, the high costs and complications linked to surgical procedures for ear infections hinder the growth of the ear infection market.
Prominent companies operating within the ear infection market are actively engaged in the development of innovative drugs to cater to customer demands. These innovative drugs, exemplified by PREVNAR 20, aim to enhance the efficacy, safety, or convenience of ear infection treatment compared to existing pharmaceuticals. In April 2023, Pfizer Inc., a U.S.-based pharmaceutical company, introduced PREVNAR 20, which received approval from the U.S. Food and Drug Administration (FDA), a U.S. government agency. PREVNAR 20 (20-valent Pneumococcal Conjugate Vaccine) is designed for the prevention of otitis media (Middle Ear Infection) in infants ranging from six weeks through 17 years of age, as well as for the prevention of invasive pneumococcal disease (IPD) in infants from six weeks through five years of age. With this approval, Pfizer extends its vaccine portfolio to offer infants and children the broadest serotype protection available in a PCV, safeguarding against strains responsible for a significant disease burden in children.
In December 2022, Eli Lilly & Co., a U.S.-based pharmaceutical company specializing in medicine and diagnostics, completed its acquisition of Akouos Inc. The acquisition is part of Eli Lilly's broader strategic vision to advance genetic drug therapies and explore the potential of pioneering adeno-associated viral gene therapy for the treatment of inner ear diseases, including conditions like sensorineural hearing loss. Akouos Inc., a U.S.-based company, specializes in the development of genetic therapies for ear-related disorders, encompassing hearing loss and ear infections.
Major players in the ear infection market are Pfizer Inc., Johnson & Johnson, Roche Holdings AG, Merck & Co., AbbVie Inc., Bayer AG, Novartis AG, Sanofi SA, Bristol Myers Squibb Co., AstraZeneca PLC, GlaxoSmithKline PLC, Eli Lilly and Company, Viatris Inc., Teva Pharmaceutical Industries Ltd., Abbott Laboratories, Sun Pharmaceutical Industries Ltd., Lupin Limited, Dr. Reddy's Laboratories, Wockhardt Ltd., Apotex Inc., Hikma Pharmaceuticals PLC, Endo International PLC, Zydus Lifescience Ltd., Glenmark Pharmaceuticals Ltd., Cipla Ltd., Torrent Pharmaceuticals Ltd., Ranbaxy Laboratories Ltd., Perrigo Company .
North America was the largest region in the ear infection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in ear infection report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the ear infection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ear infection market consists of revenues earned by entities by providing services such as consultation, treatment and diagnosis. The market value includes the value of related goods sold by the service provider or included within the service offering. The ear infection market also includes the sales of antibiotics, antiviral and pain-relieving medications. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.