Tympanostomy Products Market Revenues to Reach US$ 102.0 Mn by 2026
Added: (Wed Jan 02 2019)
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Transparency Market Research (TMR) has published a new report titled, ‘Tympanostomy Products Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global tympanostomy products market was valued at US$ 89.0 Mn in 2017 and is projected to expand at a CAGR of 1.4% from 2018 to 2026. Otitis media is one of the most prevalent ear diseases across the globe and is most common among children. Demand for quality health care and patient safety has led to the development and introduction of new tympanostomy tubes and insertion devices. This is expected to drive adoption of the procedure across the globe.
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Otitis media is a condition caused by inflammatory reaction in the middle ear due to severe infections. It is one of the most prevalent ear diseases across the globe. According to the World Health Organization, around 709 million people are estimated to be affected by otitis media across the globe each year, of these around 90% are children. According to the Agency for Healthcare Research and Quality of the U.S., otitis media is the most prevalent condition among children in the U.S., with around 1 million tympanostomy tube insertion procedures performed each year in the country. Demand for quality health care and patient safety has led to development and introduction of new tympanostomy tubes and tube insertion devices. However, there are new and promising alternative treatment lines in the pipeline such as more efficient and long lasting topical antibiotics and eustachian tube balloon dilation devices. This is likely to limit adoption of tympanostomy tube insertion procedures.
The report offers detailed segmentation of the global tympanostomy products market based on product, material, application, and end-user. The market has also been segmented based on region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). New tympanostomy tubes and innovative tube insertion devices are likely to drive the global market. Key players are tapping opportunities to introduce more advanced tube insertion devices with features such as one pass tube insertion and office-based procedure under conscious sedation eliminating the need for general anesthesia. Demand for tympanostomy tubes that have intermediate retention time and new coating material to avoid tissue granulation and tube blockage is likely to increase during the forecast period.
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Tympanostomy procedure is performed in children under general anesthesia, which may have an impact on child’s health and growth. This has led to concerns among health care providers and parents. Key industry players and researchers such as Preceptis Medial, Inc. and researchers are the National University of Singapore have developed and introduced new tube insertion devices Hummingbird TTS and CLiKX, which perform the tympanic membrane incision and tube insertion in one pass. Moreover, tympanostomy procedure with these devices can be performed under conscious sedation in physician’s office. Furthermore, demand for patient safety and environment friendly products is driving adoption of fluoroplastic disposable tympanostomy tube insertion devices. The tympanostomy tubes segment is estimated to register modest growth during the forecast period. Easy availability, low unit price, and presence of large number of suppliers are anticipated to contribute to the modest growth of the tympanostomy tube segment.
Asia Pacific is expected to present significant opportunities in the tympanostomy products market due to changing economic profiles, surge in purchasing power, high prevalence of otic diseases, and improving health care infrastructure. High unmet needs in disease therapeutics is likely to augment the tympanostomy products market in Asia Pacific. In terms of revenue, North America was the leading market for tympanostomy products in 2017. The market in North America is anticipated to witness moderate growth during the forecast period. Presence of key players, high adoption for technically advanced tympanostomy tubes and tube insertion devices, and higher product prices contributed to the region’s high share of the global market.
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The global tympanostomy products market is dominated by five key players operating internationally. However, the regional markets are highly fragmented, with large number of small and medium scale manufacturers. Olympus Corporation, Medtronic plc, Atos Medical, Grace Medical, and Summit Medical are the five key players operating in the global market. These players have broad portfolio of tympanostomy tubes and tube insertion devices of different shapes, sizes, and materials. Moreover, these players offer supportive or ancillary otorhinology products such as middle ear prostheses, stapedectomy procedure devices, and otology endoscopes and endoscopic instruments, which augment their market presence. Product differentiation is another key strategy adopted by players. Grace Medical uses its proprietary cold molding technology for tympanostomy tube manufacturing. Preceptis Medical has industry leading one pass tube insertion devices. Major companies profiled in the report are Olympus Corporation, Medtronic plc, Summit Medical, Inc., Grace Medical, Atos Medical, Preceptis Medical, Inc. OtoMedics Advanced Medical Technologies Ltd., EON Meditech Pvt. Ltd., and Koken Co., Ltd.
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