The acute otitis media therapeutics market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The increasing prevalence of acute otitis media disease is expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as an increase in young maternal age, children with aboriginal ancestry, and a rise in the number of women who smoke during pregnancy. 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 anaesthetic 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. CLICK TO DOWNLOAD SAMPLE REPORT
Based on the distribution channel, the offline segment in the global acute otitis media therapeutics treatment market is projected to grow with a significant CAGR over the forecast period. The segment's growth can be attributed to the fact that hospitals and retail pharmacies provide services to a more extensive customer base due to its more expanded presence in the market. However, with the increasing prevalence of online pharmacy websites and services, the online segment is also expected to contribute to the segment's growth.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. North America region is expected to dominate the acute otitis media therapeutics market by revenue share owing to the high availability of novel drugs for the acute otitis media therapeutics market in the U.S. and Canada. After North America, the acute otitis media therapeutics market is then followed by Europe owing to the rising patient pool suffering from an ear infection in U.K., Germany, France, and other European countries. Availability of generic drugs for acute otitis media therapeutics in India and China is the key factor behind the robust growth of the acute otitis media therapeutics market in Asia and the Pacific. The Middle East and Africa, and Latin America provide a less attractive segment for the acute otitis media treatment market anticipated to low medical facilities availability in this region. China, India, Brazil, and Russia are the emerging countries for the acute otitis media therapeutics market. Otitis media is a common and expensive disease with an estimated cost to the health care system in the U.S estimated at 3 to 4 billion dollars and to that of Canada at 600 million dollars per year.
The global acute otitis media therapeutics market is further classified on the basis of region as follows:
Our in-depth analysis of the global acute otitis media therapeutics market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of acute otitis media disease is one of the major factors that is expected to propel growth of the market over the forecast period.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Presence of generic drugs at much lower price compared to branded drugs, in market for the treatment of acute otitis media is one of the major factors that is expected to hamper growth of the market over the forecast period.
The market in Asia Pacific region will provide ample growth opportunities due to robust growth and development in healthcare infrastructure in Asian countries such as Japan, China, and India.
The major players dominating the acute otitis media therapeutics market are Pfizer, Inc., Eli Lilly and Company, Abbott Laboratories, GlaxoSmithKline plc., Novartis AG among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by drug type, formulation, distribution channel and region.
With respect to application, the offline is anticipated to hold the largest market share owing to the availability of retail pharmacies and hospitals in the market.
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