OTOSCOPE MARKET ANALYSIS

Market Challenges And Opportunities

Otoscope Market Drivers

Technological advancement in otoscopes is the major driver supporting growth of the global otoscope market. Manufacturers such as Welch Allyn, Dino-Lite, and Inventis offer technologically advanced otoscopes in the global otoscope market. For instance, Delfino offered by Inventis is a wireless video telescope in which high quality clear images of the ear canal can be captured and stored. Moreover, iO1 OTO offered by SyncVision Technology Corporation is a digital portable otoscope with an in-built LCD screen. Crystal clear images of the ear canal can be viewed on the LCD screen immediately by the physicians. These technological advancements are expected to boost the global otoscope market growth over the forecast period.

Product launches are expected to support global otoscope market growth over the forecast period. Along with improvements in conventional lens otoscopes, manufacturers have introduced technologically advanced wireless and wired digital otoscopes. Portable digital otoscopes and otoscopes with mobile connectivity have also been made available by the manufacturers. For instance, hearX Group Pvt. Ltd. launched a smartphone otoscope in 2017. This otoscope uses a magnification otoscope pen, which is connected to a smartphone with hearScope application installed. Moreover, Riester launched EliteVue fibre optic macro otoscope in 2017, and CellScope, Inc. launched smart-phone enabled otoscope in 2013.

Similar to microscopes, otoscopes is a necessary tool in the healthcare setting, as it serves a basic function of ear diagnosis and is used by ENT specialists regularly. Adoption of otoscopes is expected to increase, owing to rising prevalence of various hearing diseases. According to World Health Organization (WHO), March 2018, around 466 million people worldwide have hearing disability out of which 34 million are children, Moreover, WHO states that by 2050, over 900 million people are expected to have hearing disability, March 2018. These factors are expected to boost the global otoscope market over the forecast period.

However, lack of awareness in emerging economies such as Asia Pacific and Africa regarding latest technologies in otoscopes such as portability and connectivity is expected to restrain the global otoscope market growth over the forecast period.