The growing prevalence of tinnitus among a considerable chunk of the global populace due to factors like loud headphone hearing, earwax blockage, and ear hair cell damage may serve as prominent growth contributors for the tinnitus market. The investments in research related to tinnitus are rising at a stellar rate. Furthermore, the government bodies of numerous countries are also focusing on finding a feasible treatment option for treating tinnitus. Therefore, these factors bode well for the growth of the tinnitus market between 2017 and 2025.
Tinnitus is a condition related to the ear. It often occurs due to fluctuation in nerve activity of the cochlea. No exact cause is known for tinnitus. Multiple sclerosis, temporomandibular joint disorders, wax increase, brain injury, nasal allergies, oxidative stress, and others are some of the vital symptoms of tinnitus.
Rising Cases of Tinnitus to Bring Extensive Growth for Global Market
The Centers for Disease Control and Prevention (CDC), in a report, mentioned that nearly 50 mn people in the U.S. suffer from some form of tinnitus. These statistics highlight the rising danger of tinnitus among the populace. The growing danger of tinnitus has prompted many government and non-government organizations to invest in R&D activities related to tinnitus. Therefore, these aspects may prove to be growth accelerators for the tinnitus market.
Strategic Collaborations to Strengthen Growth Structure of Tinnitus Market
Along with R&D, strategic collaborations also form a crucial part of the tinnitus market growth trajectory. The players in the tinnitus market indulge in mergers, acquisitions, joint ventures, and partnerships for expanding their influence, especially among untapped regions. Therefore, these factors present considerable growth prospects for the tinnitus market. Furthermore, the strengthening of the healthcare infrastructure by many countries due to growing prevalence of various diseases and infections will have an indirect positive impact on the growth of the tinnitus market. Some key players into the tinnitus market are Takeda Pharmaceutical Company Ltd., Sanofi, GlaxoSmithKline, Signia, Pfizer Inc., Bayer AG, and Oticon Inc.