Between 2019 and 2029, the global ENT disorder treatment market will see a stellar contribution from the throat sub-segment of type segment, as per a report prepared by TMR Research.
Between 2019 and 2029, the global ENT disorder treatment market will see a stellar contribution from the throat sub-segment of type segment, as per a report prepared by TMR Research. The reason behind is increase in incidence of medical conditions such as tonsillitis and allergies from a number of natural and manmade elements such as pollen and pollution, say experts from TMR. Besides, anti-bacterial resistance and increase in geriatric population are also playing a role in improving contribution to overall market by the segment.
Growth Factors- Geriatric Population, Pollution
It is worth noting here that about 2.1 and 4.21 million deaths occur every year, worldwide due to outdoor air pollution. And, overall, this number is a hefty 7 million. Thus, it does not come as a surprise that it is considered to be the largest health risk on the global risk. As per medical experts, this is also one of the major factors behind throat infections and irritation and is often the culprit behind chronic sore throat often seen reported aby people living in some of the most polluted cities in the world such Delhi, Chennai, Peshawar, Doha, and so on.
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Besides, one in every sex people and one in every four people will be aged 60 and above by 2050, worldwide, and in North America and Europe over the forecast period. And, 2 billion people will fall in 65 and above age group over the same period. In the year 2015, the number of these people aged 65 and above was a mere 900 million. This population is particularly prone to issue of ears, nose, throat due to ageing, wear and tear, over use, and infections.
It is worth noting here that by 2020, in absolute terms, 120 crore people exist and a large chunk exists in developing world. This means that there are lucrative growth opportunities for players in the ENT disorder treatment market here as well, and ready to be tapped into.
North America to Dominate Global ENT Disorder Treatment Market over the Forecast Period
As per a Transparency Market Research (TMR) market study report, owing to a robust healthcare system and increase in number of geriatrics, the global ENT disorder treatment market is set to chart a significant CAGR over the forecast period. It is also worth noting here that because of a strong presence of market players in the region, technological advancement is notable and that again leads to notable contribution of the regional market into the overall growth graph of the global ENT disorder treatment market. Also, it is worth mentioning here that the region is witnessing a high prevalence of issue related to ear, nose, and throat. Besides, increase in investment in research and development is also propelling the regional market landscape on a higher curve – upward facing and steady.
Competitive Landscape of Global ENT Disorder Treatment Market to be Focused on Research and Development over the Forecast Period
Players such as Sanofi, Pfizer Inc., Merck & Co., Inc., Johnson and Johnson, GlaxoSmithKline Plc, F. Hoffman – La Roche Ltd., Covis Pharma BV, Bayer AG, AbbVie Inc., and ALK-Abello AS are highly respected in the slightly fragmented global ENT disorder treatment market’s vendor landscape. It is also worth noting here that key players are actively involved in research and development of better and more innovative products to have a firm grasp on the market share over the forecast period.
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In fact, in 2019, Pfizer expanded its facility for Research and Development (R&D) in Sanford in North Carolina. The investment is huge and close to half a billion in value. This is set to spur other players into action.
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