Otology Sponges Market: Forecast, Trend Analysis & Competition Tracking – Global Review 2018 to 2028

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Otology Sponges Market: Forecast, Trend Analysis & Competition Tracking – Global Review 2018 to 2028

Status : August, 2020 | Healthcare IT | PPT format

Report Digest

Otology sponges are cotton balls used after otology surgery. They are placed in the ear to hold the skin and eardrum in place after otology surgery. After otology surgery, the ear canal is packed with antibiotic ointment and otology sponges. Myringotomy with the insertion of tympanostomy tubes is the most common ontology surgical procedure in the U.S., and approximately 2 million procedures conducted each year. The field of otology has witnessed remarkable advancements in the management of complex ailments, such as hearing disorders, through the ongoing progress of sophisticated intricate and microscopic surgeries. Most common causes of surgeries are the retraction of the tympanic membrane, chronic otitis media and collapsed eustachian tube. Otology sponges are sterile devices used post-surgery for 6 weeks or for a month. Otology surgeries are mostly performed in outpatient systems and they do not require overnight stay. Since patients can go outdoor immediately after surgery, the chances of wound infection increase. To prevent infection, these sponges are placed in ear canal with the lubrication of antibiotics. Sometimes, an incision is made behind the year to operate the internal canal. In this situation, sterile dressings along with antibiotic lubricants are placed over the stiches to prevent microbial infection. Owing to the shape of the ear, there is very less pace to operate inside it, owing to which otology surgeries are performed with the help of microscopes for greater accuracy and success. Increase in the number of ENT specialists, coupled with the availability of technologically sound surgical methods, is boosting the number of otology surgeries.

Otology Sponges Market: Drivers and Restraints

An increase in the number of otology surgeries due to the availability of advanced surgical methods is expected to drive the market. Advanced methods of otology surgeries have spread significantly in the developing world, which is also contributing to the growth of the market. Ease of use due to flexibility and the compressed configuration of these sponges is also driving the market.

Otology sponges are sterile and available in different sizes, hence, they are effective in preventing ear canal infections. Increase in awareness about the availability of otology surgical treatment is contributing to market growth. The effectiveness of otology sponges in preventing ear canal infections and holding the shape of the eardrum is driving the market. However, low awareness among the general public about their usage is restraining market growth.

Otology Sponges Market: Segmentation

The global otology sponges market can be segmented on the basis of material, end user type and geography.

Based on material type, the otology sponges market is segmented as:

  • Latex-free otology sponges
  • General otology sponges

Based on end use, the otology sponges market is segmented as:

  • Hospitals
  • ENT clinics

Otology Sponges Market: Overview

The global otology sponges market is expected to grow steadily owing to an increase in the number of otology surgeries. Advanced technological intervention for otology surgeries is also boosting the otology sponges market. By material type, the otology sponges market is expected to be dominated by latex-free otology sponges. By end users, the otology sponges market is expected to be dominated by ENT clinics owing to an increase in the number of outpatient surgeries. The widespread availability of otology sponges in different sizes makes them easy to use and one can wear them comfortably. Moreover, the number of otology surgical procedures has increased in developing countries as well, which is boosting the market in these countries.

Otology Sponges Market: Regional Outlook

The global otology sponges market is majorly dominated by North America owing to a significant number of otology surgical procedures in the region. Europe is the second most lucrative market owing to the availability of advanced otology surgical methods. Asia Pacific is expected to emerge as one of the most lucrative otology sponges markets owing to an increase in awareness about otology surgical treatments. Emerging economies, such as China and India, are potential markets for otology sponges because of their large population base. Latin America is also a lucrative market owing to the higher adoption of otology sponges. However, the Middle East and Africa is the least lucrative otology sponges market due to lack of awareness and the low availability of advanced otology surgical methods.

Otology Sponges Market: Key Players

Some of the global key players operating in otology sponges market are DeRoyal Industries, Inc.; Boston Medical Products, Inc.; Summit Medical, Inc.; American Surgical Company LLC; Medtronic and Olympus Corporation.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.