Research Nester released a report titled “Acute Otitis Media Therapeutics Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global acute otitis media therapeutics market in terms of market segmentation by drug type, formulation, distribution channel and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The acute otitis media therapeutics market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the increasing prevalence of acute otitis media disease is expected to fuel the progress of this market. According to the data collected from World Health Organization (WHO), in 2018, the estimated number of hearing impairment in 42 million people (above three years) in the world was mainly caused by otitis media.
The market is segmented based on drug type into antibiotics, non-steroidal anti-inflammatory, analgesic, anesthetic, and others. The antibiotics segment is anticipated to grab the most significant share by the end of 2021 on account of better efficiency in treating infectious diseases. Moreover, analgesics and anesthetic are widely being used as an adjuvant treatment drug alongside antibiotics a sit brings relief to the pain and is also projected to contribute to the segment’s growth during the forecast period.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the acute otitis media therapeutics market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to leading healthcare providers in the region, especially in the United States, who are extensively involved in the research and development of ear treatment procedures.
Increasing Prevalence of Acute Otitis Media and Ear Infections to Drive Market Growth
According to National Institute of Deafness and Other Communication Disorders (NIDCD), it is estimated that five out of six children experience ear infection (otitis media) by the time they are 3 years old.
The rising prevalence of ear infections, especially in the pediatric population, is the primary factor driving the acute otitis media therapeutics market’s growth throughout the globe. The launch of novel drugs for acute otitis media treatment by the leading pharmaceutical companies will propel the development of the market. Also, the availability of generic drugs over the branded medicines at a lower price for acute otitis media treatment will propel the market growth.
This report also provides the existing competitive scenario of some of the key players of the global acute otitis media therapeutics market which includes company profiling of Pfizer Inc. (NYSE: PFE), Bayer AG (ETR: BAYN), Novartis AG (SWX: NOVN), Eli Lilly and Company (NYSE: LLY), GlaxoSmithKline plc. (NYSE: GSK), Pediapharm Inc. (CVE: MDP), Sanofi S.A (EPA: SAN), Abbott Laboratories (NYSE: ABT) among others.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global acute otitis media therapeutics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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