Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global acute otitis media (AOM) treatment market, which is said to have accounted for US$ 2,043.3 million in 2016, is now expected to exhibit a CAGR of 5.1% during the forecast period (2017-2025).
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Surging incidence of acute otitis media is one of the greatest aspects facilitating the growth of the global acute otitis media treatment market. In an article published in the PLOS ONE Journal in 2012, the incidence rate of acute otitis media was reported to be 10.9% and the article further added that around 709 million people suffer from this disease each year. Moreover, the rising prevalence of the disease among children is gradually leading to a significantly higher demand for its treatment.
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The key manufacturers in the global market are highly focused on the introduction of various innovative products for the effective treatment of acute otitis media. Laboratorios SALVAT S.A. and Arbor Pharmaceuticals, LLC launched OTOVEL (ciprofloxacin 0.3 % and fluocinolone acetonide 0.025 %), along with the solution indicated for acute otitis media treatment. Increasing product approvals is another factor expected to bolster the global market development. For instance, in 2017, the Committee for Medicinal Products for Human Use (CHMP) regulated by the European Medicines Agency (EMA) issued a positive opinion on GlaxoSmithKline’s new four-dose vial of Synflorix pneumococcal vaccine indicated for active immunization against acute otitis media. In 2013, Pfizer Inc. received the European regulatory approval for its Prevenar 13 (Pneumococcal polysaccharide conjugate vaccine), which is intended for adults, aged between 18 years and 49 years, for the prevention of invasive diseases, such as pneumonia and acute otitis media. Furthermore, in 2015, Otonomy, Inc. received the U.S. Food and Drug Administration (FDA) approval for its OTIPRIO (ciprofloxacin otic suspension) used in the treatment of AOM.
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Key Takeaways of the Global Acute Otitis Media Treatment Market:
- North America evolved as the leading market for AOM and is expected to continue its dominance over the forecast period. Market growth in the region is attributed to the ascending prevalence of acute otitis media and the launch of novel drugs for its treatment.
- The renowned players operating in the global acute otitis media treatment market include Pfizer, Inc., Eli Lilly and Company, Abbott Laboratories, GlaxoSmithKline plc., Bayer AG, Novartis AG, Pediapharm Inc., Sanofi S.A., and Bristol Myers Squibb Company.
- These market contenders are looking to expand their market presence by launching novel drugs and receiving marketing approvals for their novel products in some of the most important economies of the world.
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