[email protected] +44 20 8123 2220 (UK) +1 732 587 5005 (US) Contact Us | FAQ |

Otoscope Market Insights, Competitive Landscape and Market Forecast–2026

January 2022 | 100 pages | ID: OB442E69B047EN
DelveInsight

US$ 4,750.00

E-mail Delivery (PDF)

Download PDF Leaflet

Accepted cards
Wire Transfer
Checkout Later
Need Help? Ask a Question
This report can be delivered to the clients within 7-10 Business Days

Otoscopes Market By Product Type (Standard, Video, Macroview), By Illumination Source (Led, Halogen, Xenon, And Others), By Application (Diagnostic, Operating And Combinational), By Offering (Standalone And Diagnostic Systems), and by geography is expected to grow at a steady CAGR forecast till 2026 owing to increasing burden of ENT related disorders and rising demand for led and portable otoscopes

Global Otoscopes Market was valued at USD 165.34 million in 2020, growing at a CAGR of 3.98% during the forecast period from 2021 to 2026 to reach USD 205.79 billion by 2026. The demand for otoscopes is primarily being boosted owing to the increasing prevalence of ENT related disorders, growing demand for LED and portable otoscopes which are expected to increase the product demand thereby contributing in the growth of the otoscopes market during the forecast period from 2021-2026.

Otoscopes Market Dynamics:

The otoscope market is witnessing an increase in product demand owing to numerous reasons and one of the key aspects being the rise in the geriatric population. According to the World Health Organization (WHO) 2021, about 2.5 million people worldwide or one in four people will be suffering from hearing loss by the year 2050. Also, as per the Ear, Nose and Throat (ENT) Care at Health and Wellness Centers 2020, by the year 2030 there will be 630 million people suffering from hearing loss and by the year 2050, the number of people are estimated to rise to 900 million. Furthermore, according to the Institute for Health Metrics and Evaluation Population Health Building/Hans Rosling Center in the year 2019, more than 1.5 billion people are affected with hearing disorders. Therefore, in order to facilitate in timely diagnosis of ENT related disorders and restrict the disease progression, otoscopes are witnessing an increase in demand, ultimately leading to the global otoscopes market growth.

Another key aspect influencing the demand for otoscopes equipment is the rising demand for LED and portable otoscopes. Owing to the advantages offered by portable forms of otoscopes such as smaller built-in design and lighter as compared to a full-sized and conventional form of video otoscopes. Also, LED otoscopes do not comprise of filaments and hence they can be readily used for a much longer time in comparison to incandescent and halogen bulbs. LED otoscopes also provide better image clarity as they are brighter than other otoscopes using halogen lights or incandescent bulbs. Thus, owing to an increase in the advantages offered by LED or portable otoscopes will increase the demand of these otoscopes, thereby propelling the otoscope market growth.

Furthermore, owing to an increase in the technological advancements of otoscopes such as integrating AI based algorithms with digital forms of otoscopes allow better diagnosis and treatment of ear infections, even remotely from the patient’s home. Therefore, the rising technological advancement of otoscopes across the globe is further expected to aid in the increasing demand for otoscopes, thereby boosting the growth of the global otoscopes market during the forecast period.

However, limitations associated with equipment such as the risks associated with the use of otoscopes, limited scope of interchangeable components in case of a pocket otoscope may prove to be challenging factors for the otoscopes market growth.

Furthermore, COVID-19 ha negatively impacted the otoscope market in 2020 as the patient visit to the hospitals, diagnostic centers and clinics were temporarily postponed owing to the spread of COVID-19. Healthcare facilities were busy in procurement of devices that could be used to combat against COVID-19. Even the supply chain of the manufacturers was also disrupted along with logistical issues. However, with the gradual relaxation given in terms of COVID-19 lockdown and resumed patient visits, the situation is eventually improving. Healthcare facilities such as hospitals, clinics are also now allowing the other modality patients to visit for diagnosis and treatment, apart from COVID-19 patients. Thus, there was a short term negative impact on the market but the situation is expected to improve with time, and the otoscope market will grow gradually during the forecast period.

Otoscopes Market Segment Analysis:

Otoscopes Market by Product Type (Standard, Video and Macroview), by Illumination Source (LED, Xalogen, Halogen and Others), by Application (Diagnostic, Operating and Combinational), by Offering (Standalone and Diagnostic Systems) and by Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the illumination source segment of the Otoscopes Market, the LED otoscopes is estimated to hold the largest share of 65% in the otoscopes market during the forecast period. This can be ascribed to the advantages associated with the LED otoscopes such as led tends to offer the highest degree of illumination in contradiction to the halogen bulbs. Also in terms of color, LED associated otoscopes have brighter and whiter emission of light, and such a light is better while assessing a monomeric tympanic membrane from a perforation which is comparatively tougher to perform using a dull light such as halogen. Also, due to the inclined preference of audiologists for LED associated otoscope, there is a rising demand of LED offering otoscopes in the market.

Moreover, the quality of LEDs is observed to be improving all the time, from a fist-generation LED bulb to a high quality, second generation bulb from the company HEINE HQ LED range. Therefore, the technological advancements coupled with added advantages of the LED offering otoscope is expected to boost the growth of the otoscopes market.

North America is expected to dominate the Overall Otoscopes Market:

Among all the regions, North America is expected to account for the significant market revenue share of 31% in the otoscopes market. North America is expected to dominate the global market and would continue to maintain its dominance in revenue generation in the otoscopes market during the forecast period. This domination is attributed to the increasing prevalence of ENT disorders such as acute otitis media, the availability of user-friendly and rechargeable pocket friendly otoscopes, rising incidence of hearing loss in the region, and rising government initiatives for creating awareness regarding prevalence of ENT disorders and diagnosis are expected to aid in the growth of the North America otoscopes market.

As per the National institute of Deafness and other Communication Disorders 2020, about 2 to 3 out of every 1,000 children in the United States is affected with detectable levels of hearing loss in one or both the ears. As per statistics of 2020 by the same source, about 15% of the Americana adults aged 8 years and above report some sort of trouble in hearing every year. Moreover, as per the Centers for Disease Control and Prevention 2019, more than 98% of the United States babies were screened for hearing loss disorder. Also, as per the same source almost 6,000 United States infants were born in 2019 and were assessed with a permanent level of hearing loss. Owing to the higher presence of hearing loss disorder in the United States, there will be a higher demand for otoscopes in the North American region, thereby propelling the demand for otoscopes regionally leading to an overall increase in the otoscope market growth.

In addition to the above-mentioned factor, according to the data provided by Oticon on Hearing loss statistics in the year 2021, nearly 16% of the people in the United States had reported hearing related trouble and about 11% of the people had reported tinnitus or ringing in the ears. Therefore, due to an increase in the hearing loss disorders such as tinnitus, there will be an increase in the demand for otoscopes in the region which in turn will motivate key market players in widening their market reach in the North America region.

Otoscopes Market Key Players:

Some of the key market players operating in the otoscopes market includes Hill-Rom, American Diagnostic Corporation, HEINE Optotechnik, Kirchner & Wilhelm GmbH + Co KG, orlvision GmbH, LUXAMED, Interacoustics A/S, Halma, JEDMED, WiscMed, LLC, Cupris Limited, Sync Vision, Firefly Global, Optomic, Vimex Sp. z o.o., INVENTIS SRL, HONSUN Group, PHOTONICARE, HAI Laboratories, Inc., Olympus Corporation, Keeler Ltd, and others.

Recent Developmental Activities in Otoscopes Market:

On April 21, 2021, Hillrom launched the new Welch Allyn® MacroView® Plus Otoscope to enhance caregivers' views and support in early diagnosis and treatment for diseases.

In January 2021, WiscMed® announced a design upgrade to the Wispr digital otoscope and is offering a free exchange program for existing customers.

In April 2021, the Halma Company acquired PeriGen, Inc. ('PeriGen'), which is based in North Carolina, United States.

Key Takeaways from the Otoscopes Market Report Study

Market size analysis for current otoscopes market size (2020), and market forecast for 5 years (2021-2026)

The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the otoscopes market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Global Otoscopes Market.

Various opportunities available for the other competitor in the Otoscopes Market space.

What are the top performing segments in 2020? How these segments will perform in 2026.

Which is the top-performing regions and countries in the current otoscopes market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for otoscopes market growth in the coming future?

Target Audience who can be benefited from this Otoscopes Market Report Study

Otoscopes products providers

Research organizations and consulting companies

Otoscopes-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in otoscopes

Various End-users who want to know more about the Otoscopes market and latest technological developments in the Otoscopes market.

Frequently Asked Questions for Otoscopes Market:

1. What are Otoscopes?

An otoscope is an instrument used for examining the eardrum (tympanic membrane) and ear canal. The instrument has a light source and magnifying system at one end that helps better examine the ear structures. An otoscope will allow the assessment of the pinna, external auditory canal, and tympanic membrane.

2. What is the market for Global Otoscopes?

Global Otoscopes Market was valued at USD 165.34 million in 2020, growing at a CAGR of 3.98% during the forecast period from 2021 to 2026 to reach USD 205.79 million by 2026.

3. What are the drivers for Global Otoscopes Market?

The demand for otoscopes is primarily being boosted by the rising prevalence of ENT disorders, increasing growth of LED and portable otoscopes, favorable regulatory policies and the technological advancement in the field of otoscopes which are expected to increase in the product demand thereby contributing in the growth of the otoscopes market during the forecast period from 2021-2026.

4. Who are the key players operating in Global Otoscopes Market?

Some of the key market players operating in the otoscopes market includes Hill-Rom, American Diagnostic Corporation, HEINE Optotechnik, Kirchner & Wilhelm GmbH + Co KG, orlvision GmbH, LUXAMED, Interacoustics A/S, Halma, JEDMED, WiscMed, LLC, Cupris Limited, Sync Vision, Firefly Global, Optomic, Vimex Sp. z o.o., INVENTIS SRL, HONSUN Group, PHOTONICARE, HAI Laboratories, Inc., Olympus Corporation, Keeler Ltd and others.

5. Which region has the highest share in Otoscopes market?

North America is expected to dominate the overall Otoscopes market during the forecast period, 2021 to 2026. Owing to significant growth factors such as rising reimbursement policies pertaining to otoscopes, rising ENT related disorders, better healthcare infrastructure, and technological advancements pertaining to otoscopes, and rising government initiatives regarding creating awareness about otoscopes are expected to aid in the growth of the North America Otoscopes Market.
1.OTOSCOPES MARKET REPORT INTRODUCTION

2. OTOSCOPES MARKET EXECUTIVE SUMMARY

2.1 Scope of the Study
2.2 Market at Glance
2.3 Competitive Assessment
2.4 Financial Benchmarking

3. REGULATORY AND PATENT ANALYSIS

3.1 The United States
3.2 Europe
3.3 Japan
3.4 China

4. OTOSCOPES MARKET KEY FACTORS ANALYSIS

4.1 Otoscopes Market Drivers
  4.1.1 Rising Prevalence of ENT disorders
  4.1.2 Growing Demand for LED and portable otoscopes
  4.1.3 Favorable Reimbursement Policies
  4.1.4 Technical Innovation in Product Development
4.2 Otoscopes Market Restraints and Challenges
  4.2.1 Risks associated with Otoscopes
  4.2.2 Limited scope of interchangeable components in pocket Otoscope
4.3 Otoscopes Market Opportunities
  4.3.1 Increasing Focus of Market Players in Emerging Economies
  4.3.2 Addressing the Technology-Specific Limitations

5. OTOSCOPES MARKET PORTER’S FIVE FORCES ANALYSIS

5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Consumers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry

6. COVID-19 IMPACT ANALYSIS ON OTOSCOPES MARKET

7. OTOSCOPES MARKET LAYOUT

7.1 By Product Type
  7.1.1 Standard
  7.1.2 Video
  7.1.3 Macroview
7.2 By Illumination Source
  7.2.1 LED
  7.2.2 Xenon
  7.2.3 Halogen
  7.2.4 Others
  7.2.5 Myopia
  7.2.5 Others
7.3 By Application
  7.3.1 Diagnostic
  7.3.2 Operating
  7.3.3 Combinational
7.4 By Offering
  7.4.1 Diagnostic Systems
  7.4.2 Standalone
7.5 By Geography
  7.5.1 North America
    7.5.1.1 North America Otoscopes Market, by Country
      7.5.1.1.1 United States
      7.5.1.1.2 Canada
      7.5.1.1.3 Mexico
  7.5.2 Europe
    7.5.2.1 Europe Otoscopes Market, by Country
      7.5.2.1.1 France
      7.4.2.1.2 Germany
      7.4.2.1.3 United Kingdom
      7.4.2.1.4 Italy
      7.4.2.1.5 Spain
      7.4.2.1.6 Russia
      7.4.2.1.7 Rest of Europe
  7.5.3 Asia-Pacific
    7.5.3.1 Asia-Pacific Otoscopes Market, by Country
      7.5.3.1.1 China
      7.5.3.1.2 Japan
      7.5.3.1.3 India
      7.5.3.1.4 Australia
      7.5.3.1.5 South Korea
      7.5.3.1.6 Rest of Asia Pacific
  7.5.4 Rest of the World (RoW)
    7.5.4.1 RoW Otoscopes Market, by Region
      7.5.4.1.1 Middle East
      7.5.4.1.2 Africa
      7.5.4.1.3 South America

8. OTOSCOPES MARKET GLOBAL COMPANY SHARE ANALYSIS – KEY 3-5 COMPANIES

9. OTOSCOPES MARKET COMPANY AND PRODUCT PROFILES

9.1 Hill-Rom
  9.1.1. Company Overview
  9.1.2. Company Snapshot
  9.1.3. Financial Overview
  9.1.4 Product Listing
  9.1.5. Entropy
9.2 American Diagnostic Corporation (ADC)
  9.2.1. Company Overview
  9.2.2. Company Snapshot
  9.2.3. Financial Overview
  9.2.4 Product Listing
  9.2.5. Entropy
9.3 HEINE Optotechnik
  9.3.1. Company Overview
  9.3.2. Company Snapshot
  9.3.3. Financial Overview
  9.3.4 Product Listing
  9.3.5. Entropy
9.4 Kirchner & Wilhelm GmbH + Co KG
  9.4.1. Company Overview
  9.4.2. Company Snapshot
  9.4.3. Financial Overview
  9.4.4 Product Listing
  9.4.5. Entropy
9.5 orlvision GmbH
  9.5.1. Company Overview
  9.5.2. Company Snapshot
  9.5.3. Financial Overview
  9.5.4 Product Listing
  9.5.5. Entropy
9.6 Luxamed
  9.6.1. Company Overview
  9.6.2. Company Snapshot
  9.6.3. Financial Overview
  9.6.4 Product Listing
  9.6.5. Entropy
9.7 Interacoustics A/S
  9.7.1. Company Overview
  9.7.2. Company Snapshot
  9.7.3. Financial Overview
  9.7.4 Product Listing
  9.7.5. Entropy
9.8 Halma
  9.8.1. Company Overview
  9.8.2. Company Snapshot
  9.8.3. Financial Overview
  9.8.4 Product Listing
  9.8.5. Entropy
9.9 JEDMED
  9.9.1. Company Overview
  9.9.2. Company Snapshot
  9.9.3. Financial Overview
  9.9.4 Product Listing
  9.9.5. Entropy
9.10 WiscMed
  9.10.1. Company Overview
  9.10.2. Company Snapshot
  9.10.3. Financial Overview
  9.10.4 Product Listing
  9.10.5. Entropy
9.11 Cupris Limited
  9.11.1. Company Overview
  9.11.2. Company Snapshot
  9.11.3. Financial Overview
  9.11.4 Product Listing
  9.11.5. Entropy
9.12 SyncVision
  9.12.1. Company Overview
  9.12.2. Company Snapshot
  9.12.3. Financial Overview
  9.12.4 Product Listing
  9.12.5. Entropy
9.13 Firefly Global
  9.13.1. Company Overview
  9.13.2. Company Snapshot
  9.13.3. Financial Overview
  9.13.4 Product Listing
  9.13.5. Entropy
9.14 Optomic
  9.14.1. Company Overview
  9.14.2. Company Snapshot
  9.14.3. Financial Overview
  9.14.4 Product Listing
  9.14.5. Entropy
9.15 Vimex Sp. z o.o.
  9.15.1. Company Overview
  9.15.2. Company Snapshot
  9.15.3. Financial Overview
  9.15.4 Product Listing
  9.15.5. Entropy
9.16 INVENTIS SRL
  9.16.1. Company Overview
  9.16.2. Company Snapshot
  9.16.3. Financial Overview
  9.16.4 Product Listing
  9.16.5. Entropy
9.17 HONSUN
  9.17.1. Company Overview
  9.17.2. Company Snapshot
  9.17.3. Financial Overview
  9.17.4 Product Listing
  9.17.5. Entropy
9.18 PHOTONICARE
  9.18.1. Company Overview
  9.18.2. Company Snapshot
  9.18.3. Financial Overview
  9.18.4 Product Listing
  9.18.5. Entropy
9.19 Olympus Corporation
  9.19.1. Company Overview
  9.19.2. Company Snapshot
  9.19.3. Financial Overview
  9.19.4 Product Listing
  9.19.5. Entropy
9.20 Keeler Ltd
  9.20.1. Company Overview
  9.20.2. Company Snapshot
  9.20.3. Financial Overview
  9.20.4 Product Listing
  9.20.5. Entropy

10. KOL VIEWS

11. PROJECT APPROACH

12. ABOUT DELVEINSIGHT

13. DISCLAIMER & CONTACT US


More Publications