Fungal Otitis Externa Market Overview:
Fungal Otitis Externa Market size was valued at USD 170 million in 2021 and is projected to reach around USD 220 million in 2030 exhibiting a CAGR of 3.0% in the forecasted period.
The illness known as fungal otitis externa results in inflammation (redness and swelling) of the external ear canal. Due to the increased susceptibility of the ear canal to inflammation caused by frequent exposure to water, fungal otitis externa is commonly known as swimmer’s ear. Aspergillus is the most prevalent pathogen (80–90% of cases), with Candida coming in second. Prolonged treatment for bacterial otitis externa might change the ear canal’s flora, leading to fungus infection.
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Market Growth:
The global fungal otitis externa market is poised for growth due to a robust product pipeline, particularly in the healthcare and pharmaceutical sectors. Major players are heavily investing in research and development to introduce new treatments for fungal otitis externa. For instance, Novus Therapeutics Inc., a U.S.-based pharmaceutical company, reported promising results from its phase 2a clinical trial of OP0201 for acute otitis externa in June 2020. These developments are expected to drive market growth over the forecast period.
However, the COVID-19 pandemic has had a detrimental impact on the growth of the global fungal otitis externa market. Nationwide lockdowns implemented by several countries to curb the spread of the virus led to temporary suspensions of manufacturing and construction activities. Moreover, the global supply chain faced significant disruptions due to restrictions on international trade and travel. Despite these challenges, the gradual easing of lockdown measures and declining COVID-19 cases present favourable opportunities for potential market growth.
Market Segments:
By Type
- Ear Drops
- Clotrimazole
- Fluconazole
- Acetic Acid (2%)
- Oral Medications
- Itraconazole
- NSAIDS
- Topical Medications
- Late Stage Pipeline Drugs
By Fungus Type
- Aspergillus
- Candida
By Route of Administration
- Optic
- Oral
- Topical
By Distribution Channel
- Hospital pharmacy
- Retail Pharmacy
- Online Pharmacy
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Market Regional Analysis:
North America is anticipated to have the biggest market share among all regions in the global market for fungal otitis externa during the projected timeframe. Due to the increasing incidence of fungal otitis externa in the United States, North America is anticipated to be the most lucrative area in the global fungal otitis externa market. According to the Centres for Disease Control and Prevention’s May 2011 report, for example, one in 123 Americans experienced acute otitis externa in 2007; this condition was responsible for one in 324 ER visits and one in 481 ambulatory-care visits for the treatment of fungal otitis externa.
Market Key Players:
- Novartis
- Bayer AG
- Sanofi
- GlaxoSmithKline plc.
- AbbVie
- Par Pharmaceutical, Inc.
- Hi-Tech Pharma
- Actavis Mid-Atlantic
- Hill Derma cuticles Inc.
- Nullify Pharmaceuticals
- Glen mark Pharmaceuticals Limited
- Pfizer Inc.
- Janssen Pharmaceutical
- McNeil Consumer Healthcare
- Mylan N.V.
- Sal vat Laboratories
- Other players
Reason to Buy this Report:
- Analysis of how technology advancements affect the market and how new trends will affect the sector in the years to come.
- Examination of the impact of policy and regulatory modifications on the market and how they affect market players.
- A synopsis of the market competitive environment for fungal otitis externa, encompassing market share, player profiles, and growth strategies.
- Determination of the primary obstacles confronting the industry, including disturbances in the supply chain, ecological worries, and evolving consumer inclinations, and evaluation of the ways in which these obstacles may impact market expansion.
- Evaluation of new product and application possibilities, as well as study of market participants’ investment opportunities.
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