The U.S is projected to Dominate Tinnitus Management Market – GlobeNewswire
NEWARK, Del, July 21, 2022 (GLOBE NEWSWIRE) — In a recent market survey, Future Market Insights finds out that, the global tinnitus management market was estimated at a value of US$ 2.4 Bn in 2020 and is anticipated to reach US$ 3.2 Bn by 2031.
The prevalence of tinnitus has increased over the years because of increasing cases of earwax blockage, cell damage and rising usage of headphones for listening to loud music. Increased technological advancem…….
NEWARK, Del, July 21, 2022 (GLOBE NEWSWIRE) — In a recent market survey, Future Market Insights finds out that, the global tinnitus management market was estimated at a value of US$ 2.4 Bn in 2020 and is anticipated to reach US$ 3.2 Bn by 2031.
The prevalence of tinnitus has increased over the years because of increasing cases of earwax blockage, cell damage and rising usage of headphones for listening to loud music. Increased technological advancements in hearing aids and heightened research and development (R&D) activities have led to the growth of this market. According to FMI, the global tinnitus management market accounts for 24% of the US$ 9.5 Bn audiology market.
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Key Takeaways
- The significant developments in Tinnitus technology and tinnitus management devices which provide long-term relief and are well-accepted sound therapies all over the world are boosting the sales in the tinnitus management market.
- The growing prevalence of tinnitus and increasing investment in research & development initiatives will continue driving the tinnitus management market.
- An exponential increase can be seen in the prevalence of hearing aids at a global level owing to the sales of the tinnitus management market through the forecast period.
- Owing to the increased research and development initiatives will continue driving the tinnitus management market.
- World Health Organization (WHO) projects around 466 million people are affected by disabling hearing aid and this figure is increasing each day globally accounting for increased sales in the tinnitus management market.
- There has been a significant shift in patient preference towards innovative and advanced technologies such as mobile apps and other hearing aids accessories in the recent past, propelling growth in the market.
Competitive Landscape
Pfizer Inc., Sanofi, Teva Pharmaceutical, GlaxoSmithKline, Eli Lilly and Co., Bayer AG, Takeda Pharmaceutical Company Ltd., Boehringer Ingelheim, Merck & Co., Abbivie, Starkey Laboratories, Inc., GN Hearing A/S, Widex A/S, Oticon Inc., Neuromod Devices Ltd., Neuromonics, Inc., Puretone Ltd., Signia are some of the key companies profiled in the full version of the report.
Companies operating in the tinnitus management market are actively seeking to strengthen their position through approval, collaborations, mergers & acquisition and partnership agreements with established as well as emerging market players.
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More Insights into the Tinnitus Management Market
The North American tinnitus management market accounted for 96.5% of the market share in 2021. The U.S is predicted …….
