Otoscope Market - Forecasts from 2020 to 2025

The otoscope market is projected to grow at a CAGR of 5.48% to reach a value of US$407.812 million by 2025, from US$296.100 million in 2019.

There are growing number of cases of otitis media, which is a disease caused due to the inflammation in the middle region of the ear and is of two types namely Acute Otitis Media and Otitis Media with Infusion. On the other hand, Otitis externa, which is a disease also known as the swimmer's ear, affects the outer part of the ear. The most common causes for the ear infection are the entering of bacteria or virus in the middle ear, or most often it can result from colds, flu’s, and allergies, that eventually results in congestion and swelling of the nasal passages, throat and Eustachian tubes.

Acute otitis media is among one the most common and accounts for 10% to 15% of all the cases for which the younger patients visit the doctor. In addition, there are approximately 60% to around 85% of children, which suffer from acute otitis media (AOM) during the first year of their lives. Therefore, these increasing cases of ear infections among the children and the geriatric population are causing a spike in the demand for otoscopes globally and fuelling the market growth over the forecast period.

Product Offerings by Major Market Players in the Otoscope Market Space

The offering of better and advanced otoscopes with enhanced upcoming technologies such as ultrasonic transducers and better magnification features such as quality and durability among other properties by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.

Some of the examples of product offerings are as follows:

• Olympus, which is among one of the leading companies involved in the provision of products and solutions catering to different applications in a range of industries, also offers the portfolio of products in the medical systems category, which is otoscopes. They offer two products namely “TRUEVIEW II Otoscope 1.9mm” and the ”TRUEVIEW II Otoscope 2.7mm”. The former product that is offered by the market player is based on the advanced fiber technology, which is able to facilitate the display of images with superior quality and has a small insertion diameter of 1.9mm. The otoscope product is also fully autoclavable in order to decontaminate and sanitize it effectively. The latter product that is offered by the company is a product that is able to offer features such as high durability and boasts of an ergonomic design. In addition, it is able to facilitate the provision of easy handling in every otoscopic application and is easy to set up and reprocess.
• Welch Allyn, which is one of the leading companies involved in the provision of different products and solutions relating to the ophthalmic and otoscopy applications, among other products, offers their product called the “MacroView Octoscope”. This product is advanced in handheld otoscopy. It has enhanced features such as doubling the field of view coupled with a much better and higher amplification rate. The enlarged view thus obtained, is able to provide an easier view of the middle ear. In addition, it has features such as adjustable focus, for variable ear ways or farsighted eyes. It can support fiber optics without interference and offers secure tip fastening of the ear specula.

Asia Pacific offers good growth opportunities

The North American region is expected to hold a significant share over the forecast period owing to the fact that there are an increasing number of players involved in the provision of advanced and enhanced varieties of otoscopes. In addition, increasing investments in the R&D Of better medical equipment to contribute to the development of the well-established healthcare and medical equipment sector.

In addition, the Asia Pacific region is expected to witness a significant increase In its market share over the forecast period, which is attributable to the fact that there are initiatives being taken by the government in order to boost the healthcare sector. In addition, there is an increasing number of individuals such as children and the geriatric population that are diagnosed with ear canal problems and diseases that require diagnosis and treatment.

Increasing Demand for the video otoscope by the medical physicians and ENT professionals

Unlike the standard and the pocket-sized otoscope, the video otoscopes are types of otoscopes that are equipped with a digital video camera, which are in turn combined with a high magnification lens and multiple ultra-bright LEDs. The demand for video otoscopes is expected to surge over the forecast period owing to the fact that they are more effective than the other types of otoscopes in testing different ear problems such as otitis media and the otitis externa. In addition, they are preferred more by the ENT specialists and physicians as they are able to provide a clearer picture of the underlying problems, and thus the physicians are able to rive much better treatment and advice.

Online distribution channel to grow at a significant pace.

The penetration of the internet and the availability of high-speed internet globally, has resulted in the rapid growth and popularity of the e-retail and e-commerce channels. This, in turn, has resulted in a majority of the individuals including healthcare professionals to procure their medical equipment and supplies from e-retail and e-commerce channels, as they are able to effectively compare different products and provide lucrative discounts to the users, in addition, to time savings and added convenience of ordering from home or on the go.

Segmentation:

By Product Type

• Standard
• Pocket-Sized
• Video Otoscope

By Power Source

• Battery Operated
• Disposable
• Rechargeable
• Electrically Powered

By Light Source

• Light Bulb
• Direct Light

By Distribution Channel

• Online
• Offline

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Others