Tympanostomy Products Market: Introduction of New Tube Insertion Products to Propel Market
Added: (Mon Dec 24 2018)
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The global tympanostomy products market was valued at US$ 89.0 Mn in 2017 and is projected to expand at a CAGR of 1.4% from 2018 to 2026 to reach US$ 102.0 Mn by 2026. High prevalence of otic diseases such as otitis media and introduction of innovative tympanostomy tubes and tube insertion devices are anticipated to drive the adoption of tympanostomy tube insertion procedures across the globe. Rise in prevalence of otitis media among children, increase in population across the globe, and high demand for quality health care & patient safety are expected to propel the global tympanostomy products market. Reluctance of parents toward child’s surgery, availability of promising alternative therapies, and fragmented market at regional level are the key factors likely to restrain the global market during the forecast period.
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In terms of product, the tube applicators/inserters segment accounted for leading share of the global tympanostomy products market in 2017. The segment is projected to expand at a high CAGR and continue to dominate the market during the forecast period. Introduction of new tube insertion devices which can be used in physician offices without general anesthesia and increase in adoption for disposable tube insertion devices for patient safety are factors anticipated to propel the segment. New developments in tympanostomy tube design, material, and coating methods such as bioresorbable tubes and antimicrobial coated tubes are expected to drive demand in the near future. Most of the tympanostomy tubes available currently are made of fluoroplastic. Moreover, demand for fluoroplastic disposable tube insertion devices has increased driven by patient safety. These factors contributed to the leading share of the fluoroplastic segment.
In terms of application, the recurrent otitis media with effusion segment held major market share in 2017. High prevalence of the disease and preference for tympanostomy procedure for treatment of recurrent otitis media are attributed to the segment’s high market share. Introduction of one pass tube insertion devices such as Preceptis Medical’s Hummingbird TTS, Acclarent, Inc.’s Tula and CLiKX by researchers at the National University of Singapore is anticipated to increase the number of tympanostomy tube insertion procedures performed at specialty clinics and ambulatory surgical centers.
In terms of region, North America accounted for significant share of the global tympanostomy products market in 2017 and the trend is projected to continue during the forecast period. North America has high prevalence of otitis media and tympanostomy tube insertion is one of the most commonly performed surgical procedures among children in the U.S. High adoption of technologically advanced tympanostomy products and high product costs are anticipated to contribute to North America’s high share of the global market. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period, driven by increase in purchasing power, improving health care infrastructure, and unmet medical needs among the large population.
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Prominent players operating in the global tympanostomy products market include Olympus Corporation, Medtronic plc, Summit Medical, Inc., Grace Medical, Atos Medical, Preceptis Medical, Inc., OtoMedics Advanced Medical Technologies Ltd., EON Meditech Pvt. Ltd., and Koken Co., Ltd. Olympus Corporation, Medtronic plc, Grace Medical, and Summit Medical, Inc. are the top players who offer large portfolios of tympanostomy products. These players also have portfolio of supportive and ancillary otorhinology products such as middle ear prostheses, otology endoscopes & endoscopic accessories, and otorhinology surgical instruments, which augment their market presence. These players emphasize on development and introduction of new and advanced tympanostomy products to remain competitive in the market. Moreover, there are several players at regional level who compete on pricing.
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