Tinnitus is a physical condition characterized by a hearing perception (noise or ringing sensation) within an ear when there is no such external noise. The exact cause of tinnitus is still not known. However, in most of cases, fluctuations in cochlea’s nerve activity due to reduced auditory input causes tinnitus. Moreover, over 200 different health disorders lead to tinnitus as a symptom, including ear infections, temporomandibular joint (TMJ) disorders, multiple sclerosis, oxidative stress, emotional stress, a foreign object or earwax touching the eardrum, wax increase, nasal allergies, traumatic brain injury, and exposure to deafening sounds. Subjective tinnitus and objective tinnitus are the two major types of tinnitus.
Subjective tinnitus, ear or head noises perceivable only to the patient, occurs in 99% of all tinnitus patients. Objective tinnitus, ear or head noises audible to patients as well as other people, is quite rare. Tinnitus is considered one of the serious health problems that has a negative impact on a patient’s quality of life. The burden of tinnitus is gradually increasing worldwide. According to the CDC, around 15% of the population of the U.S., or 50 million people, suffer from some form of tinnitus. Chronic tinnitus is estimated to affect around 20 million people in the country. There is no cure for this uncomfortable and debilitating condition; however, several therapies are available in the market that help to suppress tinnitus. These include medical counselling, cognitive behavioral therapy (CBT), tinnitus retraining therapy (TRT), and sound therapy.
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Tinnitus Market: Overview
The rising focus of the key players operating in the global tinnitus market on research and development activities and launch of new products are some of the key factors that are anticipated to encourage the growth of the overall market throughout the forecast period. The on-going clinical trials being carried by several pharmaceutical companies is likely to generate promising opportunities for the market players.
Furthermore, North America is anticipated to witness a high growth throughout the forecast period, owing to the rising cases of tinnitus. In addition, the presence of several leading players in this region is another key factor projected to accelerate the growth of the overall market in the next few years. Asia Pacific is also projected to experience a healthy growth in the coming years with the rapid development of the healthcare sector in this region.
The increasing awareness of the disease, improving accessibility to healthcare, and rising expenditure on healthcare have collectively influenced the global tinnitus market in positive ways. Additionally, presence of several treatments and drugs for treating tinnitus has also boosted the market growth.
Global Tinnitus Market: Key Trends
High prevalence of tinnitus and the lack of any approved treatment options drive the development of drugs to treat this condition. The tinnitus treatment market is expected to offer immense opportunity to pharmaceutical and medical device companies. Various research institutes and organizations are focusing on development of drugs to treat tinnitus and remarkable advancements in research related to this condition have been made. For example, in May 2017, Sound Pharmaceuticals was awarded US$ 1.6 Mn by the Cystic Fibrosis Foundation Therapeutics to prevent and treat tinnitus caused by antibiotics.
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Rising investment in the research & development of treatments for tinnitus is expected to lead to the launch of novel drugs in the near future. Several pharmaceutical companies are currently conducting clinical trials of drugs to treat tinnitus. Over 10 clinical studies on drugs for the treatment of tinnitus are currently underway. In January 2017, Auris Medical Holding AG announced resumption of enrollment for TACTT3 phase 3 trial of Keyzilen, its candidate for the treatment of acute inner ear tinnitus.
From a geographic point of view, the global tinnitus market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The report states that North America held a leading position in the global market, which was closely followed by Europe. The high prevalence of tinnitus in the region and better healthcare infrastructure are expected to keep North America in the forefront. On the other hand, Asia Pacific is also expected to emerge as a promising region. The region boasts a huge population with vast and unmet medical needs. The improving economic condition of the regional market and the rising affordability of the people in Asia Pacific are projected to play an important part in the growth of this regional market.
Global Tinnitus Market: Insight into Key Participants
Companies in the tinnitus market such as Auris Medical and Merz Pharmaceuticals GmbH have their candidate products in pipeline which are expected to be launched in the next few years. Moreover, medical device companies such as Oticon Medical are conducting clinical trials on cochlear implant products. Key players engaged in tinnitus therapeutics development are Auris Medical Holding AG, AudioCure Pharma GmbH, Knopp Biosciences LLC, Merz Pharma GmbH & Co KgaA, and Otonomy, Inc.
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