Yahoo Finance Cerumen Removal Market Size, Share & Trends Analysis Report By Product Type, By Consumer Group, By Distribution Channel, By Region And Segment Forecasts, 2022 - 2030
Cerumen Removal Market Size, Share & Trends Analysis Report By Product Type, By Consumer Group, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030 Cerumen Removal Market Growth & Trends
New York, May 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cerumen Removal Market Size, Share & Trends Analysis Report By Product Type, By Consumer Group, By Distribution Channel, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06278014/?utm_source=GNW
The global cerumen removal market size is expected to reach USD 3.7 billion by 2030 and is expected to expand at a CAGR of 7.2% in the forecast period. Significant rise in the prevalence of cerumen impaction as well as rising awareness are the major factors contributing to the expansion of cerumen removal market. As per the report published by WHO in 2021, the average prevalence of cerumen impaction is between 7% and 35% across various age groups. Also, with rising geriatric population across the globe is anticipated to raise the market for cerumen removal as cerumen impaction is very common in the geriatric population. Moreover, it is more prevalent in people using hearing aids & earplugs.
The increasing infection rates and people facing problems such as ear itching and irritation have raised the awareness of cerumen removal.The adoption of correct methods for cerumen removal and the availability of various tools and cerumen removal drops is positively impacting the market growth.
Also, the market players are introducing innovative products for effective and inexpensive cerumen removal.For instance, Safkan Health introduced Otoset, a cerumen removal device.
This device resembles a headphone and breaks down cerumen by using an irrigation method by providing irrigation solution through disposable ear tips.
The micro-suction segment is estimated to dominate the market throughout the forecast period. Micro-suction is the most common procedure adopted for cerumen removal and can provide immediate wax clearance when an urgent clinical need arises. the adoption of micro-suction devices in ENT clinics has raised owing to its benefit’s over-ear syringing. The major benefit is that it does not damage the lining which can be a risk factor during the ear syringing and is gentle on the ears. Also, the device usually has a camera attached that gives the audiologist a clear view of the inner parts of the ear and the amount of wax.
Based on consumers, the geriatric segment is witnessing lucrative growth owing to the increasing number of geriatric populations. As per the data published by United Nations in 2020, the global geriatric population is estimated to exceed 1.5 billion by 2050. Hearing loss is prevalent in older adults and hence they are the major consumers of hearing aids, thereby raising the risk of cerumen impaction. This is anticipated to positively impact the market growth.
Based on distribution channels, retail pharmacies dominated the market owing to the increasing number and expansion of retail pharmacies.Moreover, the increasing adoption of automation and digitalization is positively impacting segment growth.
For instance, in May 2018, McKesson Co. entered into an agreement with Discount Drug Mart, to provide dispensing automation platforms which will help to optimize prescription processing.
Cerumen Removal Market Report Highlights
• Global cerumen removal market size is anticipated to be valued at USD 3.7 billion by 2030, owing to the increasing prevalence of cerumen impaction
• Micro-suction devices segment dominated the global cerumen removal market in 2021, owing to the increasing adoption and benefits offered by the device
• The geriatric segment dominated the market in 2021 owing to the increasing geriatric population and rising use of hearing aids by them
• Retail pharmacies held the largest market in 2021 owing to the expansion and adoption of digitalization
• The Asia Pacific dominated the market in 2021 owing to the rising awareness of cerumen impaction and the presence of local players in the region. Also, the initiative taken by the government is positively impacting the market growth
Read the full report: https://www.reportlinker.com/p06278014/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
