The Global Otoscope Market is anticipated to witness an impressive growth during the forecast period. This can be ascribed to the increasing noise pollution, leading to an increase in ENT related problems. Additionally, increasing genetic disorders during pregnancy and childbirth, and increasing chronic infections such as rubella and mumps, significantly contribute to the prevalence of hearing loss. This will help in the growth of the market during the forecast period. Additionally, increasing economic growth of the developing countries and rising demand for LED otoscope and portable otoscope device is further expected to increase the demand for different otoscope devices, thereby fuelling the market growth through 2028. Besides, increasing hearing loss due to aging and chronic exposure to loud noises and some environmental factors is further expected to support the otoscope device along with growing disposable income in the urban region and rising in the standard of living is further expected to increase the demand for otoscopes, thereby supporting the market growth. According to Statista, as of March 2021, 6 in 10 adults with hearing problems reported having “difficulty hearing when there is noise in the background”.
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Growing Prevalence of ENT related diseases
The increasing frequency of ear related diseases like otitis media, eustachian tube catarrh, otitis externa and inner ear infections kinds of ear infections such as ear pain, fluid or pas leaking out of ear along with earache, fever and hearing problems are expected to boost the market in the forecast period. Presently, over 1 billion young people are at risk of permanent, avoidable hearing loss because of unsafe listening practices. Over 5% of the world’s population, around 430 million, require rehabilitation to address their ‘disabling’ hearing loss. In low middle income countries, almost 80% of people are facing] disabling hearing loss. Increasing prevalence of hearing loss because of aging population is one of the major factors which will propel the market growth. As per the study “Evaluation of the efficacy of hearing aids in older adults: a multiparametric longitudinal study protocol” published in February 2021, the prevalence of hearing loss increases with age, and its estimated prevalence was 40%–50% in people older than 75 years during April 2020 to July 2022.
Rising Technological Advancement In Otoscope Device
Technological advancement in otoscope devices is expected to support global otoscope during the forecast period. Major key players are investing to develop conventional lens otoscopes and portable digital otoscopes, connected with phones, which will drive the market during the forecast period. For instance, hearX Group Pvt. Ltd. launched a smartphone otoscope in 2017 and Riester launched EliteVue fibre optic macro-otoscope in 2017. Increasing adoption of new technology among population is expected to create a lucrative growth of the market during the forecast period. As of December 2019, approximately 736,900 cochlear implants have been implanted worldwide. In the United States, roughly 118,100 devices have been implanted in adults and 65,000 in children.
Market Segmentation
The global otoscope market can be segmented by product, by type, by product type, by application, by end user and by region. Based on product, the market can be segmented into Pocket Otoscope, Full Size Otoscope, and Video Otoscope. Based on type, the market can be differentiated into Wall-Mounted, Handheld, and Standalone. Based on product type, the market can be divided into Wired v/s Wireless. Based on application, the market can be divided into Diagnosis v/s Surgical. Based on end user, the market can be segmented into Hospitals & Clinics, ENT Centers, Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, United States dominated the global otoscope market on account of growing demand for advance technology along with increasing prevalence of ENT related diseases.
Market Players
HEINE Optotechnik GmbH & Co. KG, Hill-Rom Holdings, Inc., Rudolf Riester GmbH, Mindmark Corporation, GF Health Products, Inc, American Diagnostics Corporation, 3M Company, CellScope, Inc., Olympus Corporation, Inventis SRL are some of the leading players operating in the Global Otoscope Market.
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Recent Development
- For instance, in 2017, hearX Group launched a smartphone otoscope hearScope approved by U.S FDA that works with a smartphone and includes artificial intelligence (AI) image classification feature to enable ENT specialists to accurately diagnose ear diseases.
- In April 2021, Hill-Rom launched the new Welch Allyn MacroView Plus Otoscope which have features LumiView clear ear speculum with four times the brightness of an adult speculum when compared to a standard ear speculum.
Report Scope:
In this report, global otoscope market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Otoscope Market, By Product:
o Pocket Otoscope
o Full Size Otoscope
o Video Otoscope
· Otoscope Market, By Type:
o Wall-Mounted
o Handheld
o Standalone
- Otoscope Market, By Product Type:
o Wired
o Wireless
· Otoscope Market, By Application:
o Diagnosis
o Surgical
· Otoscope Market, By End User:
o Hospitals & Clinics
o ENT Centers
o Others
· Otoscope Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ Germany
§ United Kingdom
§ Italy
§ Spain
o Asia Pacific
§ China
§ India
§ Japan
§ South Korea
§ Australia
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Otoscope Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
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