The global ear drops market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Ear drops are a liquid medicine that is used to treat or prevent ear infections of the outer ear and ear canal (otitis externa). It also supports remove ear wax as well as for short-term treatment and are easily available over-the-counter or with a prescription. The major factor for the growth of the market is the increasing prevalence of ear infections.
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According to the World Health Organization (WHO), ear infections are the leading cause of hearing loss. As per the WHO estimates, nearly 2.5 billion people are anticipated to have some degree of hearing loss and at least 700 million will require hearing rehabilitation by 2050. Furthermore, new product launches are also boosting the growth of the global ear drops market during the forecast period. For instance, in August 2020, Dr Reddy’s Laboratories announced the launch of a generic version of Ciprodex that is used to treat ear infections in the US market. The newly launched product is equivalent to the generic version of Ciprodex (ciprofloxacin 0.3% and dexamethasone 0.1%) Otic Suspension.
Some major players in the market include Daiichi Sankyo Co., Ltd, Sanofi S.A., and Novartis International AG, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in August 2020, Sandoz Inc. (Novartis International AG) announced the launch of Ciprofloxacin 0.3% + Dexamethasone 0.1% otic suspension 7.5mL ear drops in the US market. It is used to treat middle ear and outer ear canal bacterial infections.
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Market Coverage
- Segment Covered-
o By Product Type
o By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Daiichi Sankyo Co., Ltd, Sanofi S.A., and Novartis International AG, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Ear Drops Market Report by Segment
By Product Type
- Ciprodex Ear Drop
- Gentisone HC Ear Drop
- Ciproxin HC Ear Drop
By Application
- Adults
- Children
- Elderly
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