The Business Research Company’s Otic Drugs Global Market Report 2024is the most detailed report available on the market, including broad forecast periods and multiple geographies. The reportcovers the historic period – 2010-2021, and the forecast period – 2024-2033. The Otic Drugs Global Market Report 2023evaluates otic drugs market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global otic drugs market is expected to grow from $1.58 billion in 2023 to $1.71 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to prevalence of ear infections, advancements in drug formulations, reimbursement policies, preventive measures.The otic drugs market size is expected to see strong growth in the next few years. It will grow to $2.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
The rising prevalence rate of ear infections is expected to propel the growth of the otic drugs market going forward. An ear infection, medically known as otitis, refers to an inflammatory condition that affects the ear, often caused by bacterial or viral infections. Otic drugs provide targeted treatment, reduce systemic absorption and prevent complications for patients suffering from various ear infections. For instance, in April 2023, according to data from the World Health Organization (WHO), a Switzerland-based non-profit organization, approximately 2.5 billion people would have hearing loss by 2050, with at least 700 million requiring hearing treatment. Therefore, the rising prevalence rate of ear infections drives the growth of the otic drugs market.
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The otic drugs market segments in the report are:
1) By Drug Class: Cerumenolytics, Otic Anesthetics, Otic Anti-Infectives, Otic Steroids, Other Drug Class
2) By Indication: Otitis, Middle Ear Infections, Other Indication
3) By Route of Administration: Oral, Topical, Injectable, Other Route of Administration
4) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
The table of contents in TBRC’s otic drugs market report includes:
1. Executive Summary
2. Otic Drugs Market Characteristics
3. Otic Drugs Market Trends And Strategies
4. Otic Drugs Market – Macro Economic Scenario
5. Impact Of High Inflation On Market
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32. Global Otic Drugs Market Competitive Benchmarking
33. Global Otic Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Otic Drugs Market
35. Otic Drugs Market Future Outlook and Potential Analysis
36. Appendix
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