Report Code: A14457 | Pages: NA | Mar 2023 | 699 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Otic Drugs Market
Request Now !Otitis is an inflammation in the middle ear which resulting in dysfunction of the eustachian tube that occurs during viral upper respiratory tract infection. The eustachian tube links the middle ear with the throat and ear. It prevents fluid drainage from the middle ear, causing a fluid buildup behind the eardrum. When fluid does not evacuate, the infection grows in the ear which leads to acute otitis media.
Otic drugs are the drugs that are used to treat infections of the ear canal. Causes of ear infections can be various factors such as ear injuries, bacteria, cigarette smoking, and viral infections. A rise in the prevalence of various infections of the ear and the use of external objects such as hairpins and cotton swabs, which are found responsible for ear infections are likely to prosper the market.
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Impact of COVID-19 Pandemic on the Otic Drugs Market:
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Ongoing clinical trials which are carried out in various pharmaceutical companies, exposure to toxins, change in environment, with a high prevalence for indoor as well as outdoor allergens and worldwide rise in the prevalence of otitis diseases are likely to act as market drivers for the otic drugs market.
As per the published article by the American Academy of Family Physicians, it is estimated that nearly 80% of the children have been diagnosed with one episode of acute otitis media (AOM). Change in environment or exposure to the certain toxin may rise the otitis infection and the prevalent middle ear diseases are likely to grow the otic drugs market.
Novel Therapeutics, Inc, a pharmaceutical company with a specialty in otolaryngology has initiated phase II trials for OP0201 In 2019, which is a drug-device combination of cholesteryl palmitate & surfactant dipalmitoylphosphatidylcholine which have shown promising results for otitis treatment in phase I clinical trials. If proved to be successful it will enhance a new significant option for the treatment of otitis.
Asia-Pacific is predicted to hold the largest share in the market due to the rise in ear infections. Â Europe is considered to be one of the growing markets in the timeline with high investment in the infrastructure related to healthcare. North America is likely to dominate the market of otic drugs because of the presence of the core market players with novel technology.
Restraints that prevail in the market are unaffordable or unavailable treatments, the introduction of generic drugs and patent expiry from companies, inadequate knowledge about tinnitus disease in developing economies.
Key Benefits of the Report
Otic Drugs Market Report Highlights
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Key Market Players | Pediapharm Novus Therapeutics, Inc, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, Abbott, Mylan N.V, Alcon, GlaxoSmithKline plc, Zydus Pharmaceuticals, Bayer AG, Amneal Pharmaceuticals LLC, Novartis AG, Merz Pharma, Sanofi, Sound Pharmaceuticals, Bristol-Myers Squibb Company, Intas Pharmaceuticals Ltd., Otonomy Inc, Torrent Pharmaceuticals Ltd, |
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