EAR INFECTION TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

Market Drivers:

1. Rising prevalence of ear infections across the globe is expected to boost growth of the global ear infection treatment market during the forecast period. Ear infections can sometimes cause hearing loss. This is due to inflammation and fluid build-up in the area behind the eardrum. For instance, according to the World Health Organization (WHO), over 2.5 billion people around the world are expected to have some degree of hearing loss, and around 700 million will require hearing rehabilitation by 2050.
2. High demand for safe and effective ear infection treatment is expected to augment the growth of the global ear infection treatment market during the forecast period. For instance, in August 2020, Dr Reddy’s Laboratories announced the launch of a generic version of Ciprodex, used for the treatment of ear infections, in the U.S. The newly launched product is a therapeutic equivalent generic version of Ciprodex (ciprofloxacin 0.3% and dexamethasone 0.1%) Otic Suspension, approved by the Food and Drug Administration (FDA).

Market Restraints:

1. High cost of treatment is expected to hamper the growth of the global ear infection treatment market. Antibiotics prescribed for a bacterial ear infection, such as Amoxicillin, cost between US$ 20 and US$ 110 for a week\'s treatment. The average cost of surgery for patients without insurance ranges from US$ 2000 to US$ 3000. Moreover, a study titled ‘Understanding Costs of Care in the Operating Room’ in 2018 reported that the mean cost of operating room time is US$ 36 to US$ 37 per minute, and this in turn restrict the patients from opting for surgeries.
2. Complications related to surgical procedures are expected to hinder growth of the global ear infection treatment market. For instance, sensorineural hearing loss, dural injury, postoperative tympanic membrane perforation, labyrinthine fistula, chorda tympani interruption, accidental ossicular chain disruption, and/or facial nerve paralysis are among the most relevant/common possible complications related to ear surgery.

Market Opportunities:

1. Exposure to cigarette smoke is expected to offer lucrative growth opportunities for player in the global ear infection treatment market. Smoking weakens the immune system and it damages tissues in the nose and throat, making them more susceptible to infections that affect the ears, too. Moreover, inhaled smoke irritates the eustachian tube, which connects the back of the nose with middle ear. This causes swelling & obstruction which interferes with pressure equalization in the middle ear, leading to pain, fluid and infection.
2. Continuous innovation and increase in awareness about ear infections is expected to provide significant growth opportunities for player in the global ear infection treatment market. An ear infection is a common health problem in children. There has been increased awareness among parents about otitis media (AOM) in children around the world. Moreover, pharma companies and insurance companies are focusing on launching novel treatments and are offering insurance coverage for the treatment of ear infections in developed countries.