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 ENT disorder treatment market, by treatment type (Devices (Hearing Aid Devices, Voice Prosthesis, Nasal Splints, Hearing Implants, and Others) and drug type (Antibiotics, Antihistamines, Steroids, Anti-inflammatory Drugs, Others)), by organ type (Ear, Nose, and Throat), by end-user (Hospitals, Clinics, Ambulatory Surgical Centers, Home Care Settings, and Others), and by region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa), was assessed at US$ 9,521.1 million in 2016 and is foreseen to register a CAGR of 3.2% over the forecast period (2017-2025).
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Multiple advanced ENT disorder treatments have gained significant traction across the global healthcare space, primarily due to the increasing incidence of ENT disorders and growing environmental pollution. In an article published by the Harvard Medical School and Teaching Hospital in 2017, it was reported that over 360 million people worldwide are found to be suffering from hearing loss every year, and the article further suggested that such cases can be treated with proper medication and care.
Numerous global healthcare companies are engaged in extensive R&D for developing novel treatments for ENT disorders for both children and adults, which is said to supplementing the global ENT disorder treatment market growth. For instance, Otonomy, Inc., a U.S.-based drug manufacturer, received the FDA approval for OTIPRIO (ciproflaxin otic suspension) in December 2015, for the treatment of pediatric patients with bilateral otitis media with effusion. In May 2012, Dymista (an efficient drug combination of azelastine hydrochloride and fluticasone propionate) by Meda Pharmaceuticals was approved by the FDA for the treatment of seasonal allergic rhinitis. Furthermore, in June 2017, Inspire Medical Systems was granted approval for its Inspire 3028 neurostimulator, which is employed in the treatment of obstructive sleep apnea.
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Key Takeaways:
- According to the CDC, in 2016, approximately 30 million people in the U.S. had been exposed to extremely high decibel sound levels, at workplaces, which led them to be affected by various hearing disorders.
- Among treatment types, the drug segment holds the leading position in the global ENT disorder treatment market, as ENT drugs are considered the first line of treatment in most cases of ENT disorders.
- Among end users, the hospitals segment dominates the global ENT disorder treatment market, as most of the surgical, non-surgical as well as consultation procedures are conducted at hospitals.
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Competitive Background:
The major players operating in the global ENT disorder treatment market include Sanofi, AstraZeneca plc, Novartis AG, Pfizer Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline Pharmaceuticals, Otonomy Inc., Merck & Co., Dr. Reddys Laboratories Ltd., Allergan plc, Cochlear Ltd., Sonova Holding AG, Siemens Healthcare, Starkey Laboratories Inc., William Demant Holding A/S, Widex A/S, GN ReSound A/S, Sonic Innovations Inc., Panasonic Corp., Beltone, Rexton Inc., Avada Hearing Care, Miracle-Ear Inc., MED-EL GmbH, Nuear Hearing Aids Inc., Audiosync Inc., Bernafon, American Hearing Systems Inc., Unitron Hearing Inc., and Zounds Inc.
These market players have relentlessly been developing and updating their products with new technologies to treat a multitude of hearing disorders. They are said to be conducting clinical trials worldwide, and a large number of new treatment drugs and devices are awaiting regulatory approvals. For instance, in February 2018, Tusker Medical announced their first patient enrollment for pivotal clinical trial for tympanostomy tube replacement that is performed for recurrent ear infections or persistent fluid in the middle ear.
Manufacturers are further focusing on strategic mergers and acquisitions for the development and commercialization of novel ENT therapeutics and devices. For instance, December 2017, Entellus Medical, Inc. signed a definitive merger agreement with Stryker Corporation for the development of effective ENT solutions. Moreover, in in July 2017, Entellus Medical acquired Spirox, Inc. – a privately held company manufacturing ENT medical devices.
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