Global Tympanostomy Products Market, By Product Type (Tube Inserters, and Tympanostomy Tubes), By Material (Silicone, Titanium, and Stainless Steel), By Application (Recurrent Otitis Media with Effusion, Chronic Otitis Media, and Others), By End User (Hospital, Ambulatory Surgical Centers, and Specialty Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 108.5 Million in 2023 and is expected to exhibit a CAGR of 3.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies such as the launch of new products, which will drive the global tympanostomy products market. For instance, in August 2022, Preceptis Medical, Inc., an innovative surgical technology company dedicated to providing less invasive options for pediatric patients, announced that the U.S. FDA clearance for expanded indications for use for the Hummingbird Tympanostomy Tube System (TTS) for office-based pediatric ear tube procedures. Previously cleared for children 6-24 months, this new labeling allows in-office procedures for all children six months and older.
Global Tympanostomy Products Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
Global Tympanostomy Products Market: Key Developments
On May 28, 2020, Smith+Nephew, the global medical technology business, announced the market introduction and first commercial procedure of its Tula System, an in-office solution for the placement of tympanostomy tubes (commonly known as ear tubes). The Tula System gives ENT surgeons the option to place ear tubes in an awake child during an office visit without the need for general anesthesia. The physician numbs the eardrum using a novel, child-friendly anesthesia while the patient may sit up, play, and remain with their parent. A specialized tube delivery system allows the physician to place an ear tube in less than half a second, minimizing the amount of time the child needs to remain still. Most children return to normal activities immediately following the Tula procedure.
Browse 44 Market Data Tables and 35 Figures spread through 150 Pages and in-depth TOC on “Global Tympanostomy Products Market”- Forecast to 2030, Global Tympanostomy Products Market, By Product (Tube Inserters, and Tympanostomy Tubes), By Material (Silicone, Titanium, and Stainless Steel), By Application (Recurrent Otitis Media with Effusion, Chronic Otitis Media, and Others), By End User (Hospital, Ambulatory Surgical Centers, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/tympanostomy-products-market-3021
Key Takeaways of the Global Tympanostomy Products Market:
- The global tympanostomy products market is expected to exhibit a CAGR of 3.5% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global tympanostomy products market.
- Among product, the tympanostomy tubes segment is expected to hold a dominant position in the global tympanostomy products market during the forecast period, and this is attributed to the technological advancements in the field of tympanostomy products.
- Among regions, North America is expected to be the dominant region in the global tympanostomy products market, owing to the key players focus on organic strategies to start new product launches.
- Major players operating in the global tympanostomy products market are Medtronic plc., Olympus Corporation, Medasil Surgical Limited, Preceptis Medical, Acclarent Inc., Summit Medical, Adept Medical, Teleflex Medical Ltd, AdventaMed, and Smith+Nephew.
