A new research report recently added by TMR Research offers a thorough overview of the global tinnitus market.
A new research report recently added by TMR Research offers a thorough overview of the global tinnitus market. The study, titled “Tinnitus Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” throws light on the growth drivers, opportunities, and challenges in the market. A detailed analysis of the competitive landscape of the market has also been provided in the scope of the research report.
The rising focus of the key players operating in the global tinnitus market on research and development activities and launch of new products are some of the key factors that are anticipated to encourage the growth of the overall market throughout the forecast period. The on-going clinical trials being carried by several pharmaceutical companies is likely to generate promising opportunities for the market players.
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Furthermore, North America is anticipated to witness a high growth throughout the forecast period, owing to the rising cases of tinnitus. In addition, the presence of several leading players in this region is another key factor projected to accelerate the growth of the overall market in the next few years. Asia Pacific is also projected to experience a healthy growth in the coming years with the rapid development of the healthcare sector in this region.
The exact cause of tinnitus is still not known. However, in most of cases, fluctuations in cochlea’s nerve activity due to reduced auditory input causes tinnitus. Moreover, over 200 different health disorders lead to tinnitus as a symptom, including ear infections, temporomandibular joint (TMJ) disorders, multiple sclerosis, oxidative stress, emotional stress, a foreign object or earwax touching the eardrum, wax increase, nasal allergies, traumatic brain injury, and exposure to deafening sounds. Subjective tinnitus and objective tinnitus are the two major types of tinnitus. Subjective tinnitus, ear or head noises perceivable only to the patient, occurs in 99% of all tinnitus patients. Objective tinnitus, ear or head noises audible to patients as well as other people, is quite rare. Tinnitus is considered one of the serious health problems that has a negative impact on a patient’s quality of life. The burden of tinnitus is gradually increasing worldwide. According to the CDC, around 15% of the population of the U.S., or 50 million people, suffer from some form of tinnitus. Chronic tinnitus is estimated to affect around 20 million people in the country.
The tinnitus treatment market is expected to offer immense opportunity to pharmaceutical and medical device companies. Various research institutes and organizations are focusing on development of drugs to treat tinnitus and remarkable advancements in research related to this condition have been made.
Several pharmaceutical companies are currently conducting clinical trials of drugs to treat tinnitus. Over 10 clinical studies on drugs for the treatment of tinnitus are currently underway. In January 2017, Auris Medical Holding AG announced resumption of enrollment for TACTT3 phase 3 trial of Keyzilen, its candidate for the treatment of acute inner ear tinnitus.
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The rising number of players in this market is predicted to strengthen the competitive scenario of the global tinnitus market in the coming years. Some of the leading players operating in the market are Otonomy, Inc., Knopp Biosciences LLC, Merz Pharma GmbH & Co KgaA, Auris Medical Holding AG, and AudioCure Pharma GmbH.
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