Otoplasty Market is expected to grow at a CAGR over 8.4% from 2017 to 2023 | MRFR - News and Updates

Market Research Future has announced the addition of the "Global Otoplasty Market Research Report which gives Market Size, Shares and Forecasts till 2023. The Otoplasty Industry Report Provide analysis and evaluation of the current and prospective profitability.

Global Otoplasty Market -Market Scenario

Otoplasty refers to surgical and non-surgical procedures for correcting external ear deformities and defects. The defects may be of morphology and structure of the external ear such as a deformation, absent external ear, damage by trauma etc. Otoplasty corrects the defect or deformity of the external ear by procedures such as shaping or augmenting of the cartilaginous support framework of the pinna etc. Otoplasty was developed in ancient India, in 5th century BC, by physician Sushruta and was described in the Sushruta samhita for correcting and reconstructing ear, nose and lips deformed due to amputations. Dieffenbach in 1845, demonstrated correction of post-traumatic auricular deformity and cosmetic otoplasty was described by Ely who performed a wedge excision to reduce the prominence of the ear.

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The market for otoplasty is driven by factors such as growing prevalence of congenital ear deformities such as Treacher Collins syndrome, hemifacial microsomia etc. Other factors are natural deformations and extremities such as bat ears, constricted ear, cryptotic ear, macrotic ear, question mark ear, Stahl’s ear deformity etc. the rising cases of trauma to the external ear such as due to blasts, puncture and damage due to blunt objects are also important drivers of the Otoplasty market.

The growing awareness and the availability of advanced products such as malleable and adjustable splints, tubings which can be adjusted for any size and shapes of the ear, are expected to make a positive impact on the market. The rising per capita income and the growing acceptance of the plastic and aesthetics surgeries across the globe will drive the future market.

The critical market restraints are complications and discomfort associated with otoplasty, formation of abnormal scar tissue, distortion of the shape of the ear caused by overcorrection of deformed features and reappearance of ear protrusion. Generally insurance providers do not provide coverage for otoplasty which is the biggest economic constraint.

Considering all these factors, the market for otoplasty is expected to reach $ 1.2 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.5 % during 2017-2023.

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Global Otoplasty Market -Segments

The global otoplasty market is segmented on the basis of otoplasty types, otoplasty surgical techniques, non-surgical otoplasty, devices and end users. Based on otoplasty types, the market has been segmented as ear augmentation, ear reduction and ear pin back. Based on the otoplasty surgical techniques, the market has been segmented as anti-helical fold manipulation, conchal alteration and correction of earlobe prominence. Based on the non-surgical otoplasty, the market has been segmented as tissue molding and others. Based on the devices, the market has been segmented as ear-splint, tubing and others. Based on the end users, the market has been segmented as hospitals and clinics, academics and research and others.

Global Otoplasty Market -Regional analysis

US accounts for the maximum market share due to favorable insurance penetration, excellent reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global otoplasty. Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region is expected to have the most future potential and it is estimated to be led by China and India. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The regions of Africa are expected to witness a moderate growth due to poor economic and political conditions and poor healthcare penetration

Global Otoplasty Market -Key players

Key players profiled in the report are
Allergan,
Sklar Surgical Instruments,
Earfold,
Invotec International, Inc.,
Phoenix medical systems pvt. Ltd.,
EarBuddies

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Major Points form TOC for Otoplasty Market Research Report – Forecast to 2023

1. Introduction

1.1 Definition

1.2 Scope of Study

1.2.1 Research Objective

1.2.2 Assumptions & Limitations

1.2.2.1 Assumptions

1.2.2.2 Limitations

1.3 Market Structure

2. Research Methodology

2.1 Research Process:

2.2 Primary Research

2.3 Secondary Research

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Macroeconomic Indicators

4. Market Factor Analysis

4.1 Porters Five Forces Model

4.2 Bargaining Power Of Suppliers

4.3 Bargaining Power Of Buyers

4.4 Threat Of New Entrants

4.5 Threat Of Substitutes

4.6 Intensity Of Rivalry

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This release was published on openPR.