Pocket Otoscope Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The pocket otoscopes market is projected to grow with a CAGR of nearly 4% over the forecast period. The growing prevalence of ear-related diseases and growing burden of preventable hearing loss increasing the demand for advanced diagnostic devices for ear diseases and disorders. According to the World Health Organization (WHO), an estimated 6.1% of the world population (466 million) was living with hearing loss in 2018. Added to that, 34% of this population is children only. In addition, the advent of rechargeable otoscope which is pocket-friendly and easy to use, and a growing number of otolaryngology specialists across the globe is expected to boost the market growth over the forecast period. However, the cloning of the products in underdeveloped and developing countries is anticipated to hamper the market growth.

Key Market Trends

Diagnosis segment is Expected to Witness Healthy Growth

Pocket otoscopes are designed to fit in the pocket and are less bulky compared to other types of otoscopes. The growing adoption of these devices for the examination of the ear during the diagnosis is anticipated to boost the market growth. Furthermore, the increasing prevalence of ear infections, tinnitus and other conditions are anticipated to boost the market growth over the forecast period. According to the Hearing Health Foundation, meniers disease impacts 12 in 1000 people worldwide. It's estimated that there are 600,000 to 700,000 cases of miniers disease in United States alone. Diagnosis of the ear diseases has become easier with the help of otoscopes and advancements in the same has provided pocket friendly otoscopes which is augmenting the demand for pocket otoscopes for diagnosis purpose.

World Health Organization (WHO), estimates in children under 15 years of age, about 60% of the hearing loss is due to preventable causes. The early detection and treatment will decrease the hearing loss burden among the population. The burden of curable hearing loss, increasing the demand for quick diagnosis and treatment of ear-related diseases.

North America is Anticipated to Have Significant Growth

Among the regional segments, North America is expected to have significant market growth over the forecast period. The growth is attributed to well established healthcare infrastructure, growing prevalence of ear disorders in the region. Moreover, one-third of the population is above 65 years and is majorly concentrated in South Asian, Asia-Pacific, and Sub-Saharan African regions. Majority of the population suffering from hearing impairment is living in developing countries. Globally, with an increase in the number of people suffering from hearing impairment, especially in Europe and the United States, the demand for hearing aids is expected to increase significantly over the next decade.

Competitive Landscape

Global pocket otoscope market is moderately fragmented and competitive. Market players are focusing on new product launches, product innovations and geographical expansion. The key market players operating in the market include Welch Allyn, Inc, Sync Vision, Luxamed, Oaktree Products, Inc., and American Diagnostic Corporation among others.

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