Ear Health Market by Product (Ear Health Devices (Diagnostic Devices, Surgical Devices, Hearing Aids, Hearing Implants, CO2 Lasers), Ear Health Supplements, Ear Infection Drug Treatment)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Ear Health market size is expected to hit around USD 4.9 billion by 2030 from valued at USD 1.9 billion in 2021 and growing at a CAGR of 8.3% from 2022 to 2030.

Growth in this market is largely driven by the growing geriatric population, high prevalence of ear diseases, rising incidence of noise-induced hearing loss, and shift in consumer preference towards plant-based supplements. Moreover, untapped emerging markets in developing countries are creating lucrative opportunities for the market players.

Report Scope of the Ear Health Market

Ear health Market Dynamics

Drivers: High prevalence of ear diseases

According to WHO estimates, globally, more than 486 million people have disabling hearing loss, and ear infections are the leading cause of it. Of this, around 462 million (93% of this population) are adults (242 million males and 190 million females) and 34 million (8% of this population) are children. Approximately one-third of the population aged over 65 years is impacted by disabling hearing loss. These trends are projected to drive the demand for otoscopes, as these instruments are widely used for diagnosing ear-related disorders. The U.S. Centers for Disease Control and Prevention (CDC) estimates that nearly 20% (over 50 million people) of Americans experience some form of tinnitus. The rising prevalence of ear diseases is expected to drive the adoption of ear health devices/drugs/supplements in the market.

Restraints: Adverse effects of ear health supplements

The supplements that claim to be effective on tinnitus and hearing impairment often do not work positively for every patient. These supplements are not proven to work and are filled with ingredients that often have little to no tinnitus-related research behind them. The ingredients themselves are not proprietary in any way. However, dietary supplement companies can claim that the specific ratio of included ingredients—their formula—is proprietary. The use of these supplements also causes side-effects in many patients. For instance, Gingko biloba, a traditional medicine used as an ingredient in a majority of ear health supplements, causes side effects such as nausea, vomiting, and headaches. It can also cause severe bleeding in people who take blood thinners or have blood-clotting disorders.

Opportunities: Emerging markets offer lucrative opportunities

Emerging economies such as India, South Korea, Malaysia, Vietnam, Saudi Arabia, and the UAE offer significant growth opportunities to major market players. This can be attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure. In addition, the regulatory policies in the Asia Pacific region are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn key players in the ear health market to focus on emerging countries.

Challenges: Shortage of trained professionals

Currently, several countries are facing a shortage of skilled professionals who are capable of effectively performing ear surgery procedures, such as cochlear implantation. In 2012, there were 8,600 otolaryngologists in the US, and it is estimated that there will be a shortage of 2,500 otolaryngologists in the country by 2025 (Source: PubMed.gov). In 2020, in Canada, there were approximately 715 otorhinolaryngology surgeons, reflecting two surgeons per 100,000 people (Source: Journal of Medicine in the Tropics). Similarly, according to a survey of ENT services in Sub-Saharan Africa (2017 Survey), the total population of the 22 countries represented in the study (in sub-Saharan Africa) was 720,500,000 (75% of the population of Sub-Saharan Africa). The dearth of skilled ENT surgeons in these countries is expected to limit the number of surgical procedures performed, including cochlear implantation, despite the presence of a large target patient population base. This is a major challenge for the growth of the ear health market.

APAC to witness the highest growth rate during the forecast period.M

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by the growing geriatric population, and high prevalence of ear diseases. Emerging markets offer significant and attractive growth opportunities for ear health market. The growth of ENT clinics & hospitals in these countries has increased the demand for ear health products.

Recent Developments

• In 2021, Sonova Holding AG (Switzerland) acquired Sennheiser (Germany) for expanding its offerings and entering new growth markets.
• In 2021, Medtronic PLC (Ireland) acquired Intersect ENT (US) to expand Medtronic's portfolio of products used during ear, nose, and throat procedures.
• In 2021, InnerScope Hearing Technologies (US) acquired Atlazo Inc. (US) for developing next-generation hearing aids and hearable products by utilizing Atlazo’s patented Artificial Intelligence (AI) hardware platform.
• In 2020, Karl Storz GMBH & Co. KG (Germany) installed six OFFICE1 examination rooms specialized for ENT treatment at the IPS Central Hospital in Asunción, Paraguay.

Some of the prominent players in the Ear Health Market include:

Sonova Holdings AG (Switzerland), Olympus Corp. (Japan), William Demant Holdings A/S (Denmark), Cochlear Limited (Australia), Stryker Corporation (US), Johnson & Johnson (US), Novartis (Switzerland), Karl Storz GMBH & Co. KG (Germany), Medtronic Plc (Ireland), Oscar Remedies Pvt Ltd. (India), and InnerScope Hearing Technologies (US).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Ear Health market

Global Ear Health Market, by Product

• Ear health Market, By Product
•  Ear Health devices
• Diagnostic Devices
• Surgical Devices
• Hearing Aids
• Hearing Implants
• CO2 Lasers
• Image-guided Surgery Systems         
• Tinnitus and ear impairment care supplements
• Ear infection treatment medication

By Regional Outlook

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Ear Health industry analysis from 2022 to 2030 to identify the prevailing Ear Health industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Ear Health industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Ear Health industry trends, key players, market segments, application areas, and market growth strategies.