Tinnitus Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Tinnitus Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : November, 2020 | Medical Devices | PPT format

Report Digest


Global Tinnitus Market: Snapshot

The global tinnitus market exhibited impressive growth in the recent past as the number of people suffering from tinnitus has been increasingly continuously. Tinnitus is a physical condition that occurs within an ear when there is no external noise mainly considered as a hearing perception. In most of the cases tinnitus occurs due to fluctuation in cochlea’s nerve activity as the auditory inputs are reduced. There are more than 200 disorders related to tinnitus and are considered as symptoms for tinnitus. Oxidative stress, temporomandibular joint (TMJ) disorders, multiple sclerosis, emotional stress, wax increase, traumatic brain injury, nasal allergies, ear infection, and exposure to deafening sound are the main symptoms of tinnitus.

The incidence of tinnitus has increased significantly over the years. As per recent studies, North America has been witnessing an increasing incidence of this disease. Though numerous people are suffering from this, but there is no cure for this devastating condition. However, with sound therapy, medical counselling, tinnitus retraining therapy, and cognitive behavioral therapy (CBT) its severity level can be decreased. Various research and development initiatives are underway to find cure for this disease. Recently, advanced devices were introduced that can be used as a part of treatment which drive tinnitus market.

Recently, at a conference held at the University of Iowa by Aurex International Corp (AIC) a subsidiary unit of ADM Tronics Unlimited, Inc. on their 26th Annual International Conference on Managemanet of the Tinnitus & Hyperacusis Patient, developments done on the Aurex-3 were explained. In addition to this, the CEO of AIC also revealed a non-invasive therapy device that will control and treat tinnitus. Use of therapeutic medical technology that will help to control medical functions through smartphones is expected to improve the process of treating tinnitus.

The tinnitus shield is unique in its form as it protects the ear from damaging sounds that may cause tinnitus (ringing in ears). The use of this device can be extremely beneficial for people engaged in military, police, construction workers, musicians and others working in occupation conditional on Noise Induced Hearing Loss (NIHL).

Global Tinnitus Market: Overview 

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.

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.

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.

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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?