Fungal Otitis Externa Market Is Projected To Reach Around USD 220 Million In 2030 Exhibiting A CAGR Of 3.0% In The Forecasted Period

The global fungal otitis externa market size was valued at USD 170 million in 2021 and is projected to reach around USD 220 million in 2030 exhibiting a CAGR of 3.0% in the forecasted period.

The rising development and sanction of latest therapies for the management of fungal otitis externa, growing incidence and occurrence of fungal otitis externa are the major factors that boost the development of the global fungal otitis externa market. On the other hand, rising accessibility of generic medicines and difficulties related to drugs used in the management is expected to hamper the growth of fungal otitis externa market growth.
A strong product pipeline is projected to boost growth of the global fungal otitis externa market throughout the forecasted period. Key players in the healthcare and pharmaceutical industries are concentrated on research and development activities with a vigorous product pipeline for the treatment of fungal otitis externa. For example, in June 2020, Novus Therapeutics Inc., a U.S.-based pharmaceuticals company, declared topline results from the company's exploratory phase 2a clinical trial of OP0201 in acute otitis externa. Consequently, these factors are anticipated to boost growth of the global fungal otitis external market throughout the forecasted period.

The eruption of the COVID-19 pandemic has adversely impacted growth of the global fungal otitis externa market. Consequential the pandemic, several nations employed strict countrywide lockdown regulations. Manufacturing and construction events were postponed temporarily, to control the spread of the virus. Additionally, the global supply chain industry observed a massive disturbance owing to restrictions on worldwide trade and travel. But, current relaxation in lockdown strategies and decreasing cases can offer lucrative openings for potential growth.

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Key Companies Insights:

The market for fungal otitis externa is moderately competitive. With the rising applications of fungal otitis externa, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Fungal otitis externa market, ultimately boosting the market growth. Some of the key companies working in the global Fungal otitis externa market include:
• Novartis
• Bayer AG
• Sanofi
• GlaxoSmithKline plc.
• AbbVie
• Par Pharmaceutical, Inc.
• Hi-Tech Pharma
• Actavis Mid-Atlantic
• Hill Dermaceuticals Inc.
• NuLife Pharmaceuticals
• Glenmark Pharmaceuticals Limited
• Pfizer Inc.
• Janssen Pharmaceutical
• McNeil Consumer Healthcare
• Mylan N.V.
• Salvat Laboratories
• Other players

Some of the Recent Developments:
• In November 2022, the Denver Health and Hospital Authority initiated a clinical trial study beneath the title "RELAX: Reducing Length of Antibiotics for Children with Ear Infections (RELAX)". The objective of the study is to estimate the effectiveness and execution results of two low-cost interventions of several intensities to upsurge the prescribing of suggested short antibiotic durations for acute otitis media (AOM) in children 2 years of age and older.
• In June 2021, Olympus Australia partnered with InterMed Medical to dispense ENT products in Australia and New Zealand. This corporation helped endorse and allocate Olympus ENT products in Australia and New Zealand.

Segments:

By Type
• Ear Drops
o Clotrimazole
o Fluconazole
o Acetic Acid (2%)
• Oral Medications
o Itraconazole
o NSAIDS
• Topical Medications
• Late Stage Pipeline Drugs
By Fungus Type
• Aspergillus
• Candida
By Route of Administration
• Otic
• Oral
• Topical
By Distribution Channel
• Hospital pharmacy
• Retail Pharmacy
• Online Pharmacy
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

Region Insights:

Among regions, North America is projected to hold largest market share in the global fungal otitis externa market over the forecast period. North America is expected to be the most lucrative region in the global fungal otitis externa market, due to the growing prevalence of fungal otitis externa in the U.S. For instance, as per the report issued by Centers for Disease Control and Prevention in May 2011, about one in 123 persons were affected by acute otitis externa in the U.S. across 2007 and it accounted for a projected one in 324 emergency department visits and one in 481 ambulatory-care visits for management of fungal otitis externa.

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Over the course of the forecast period, the aspergillus segment is anticipated to hold the largest market share in the global market for fungal otitis externa. This market's rise over the forecast period is anticipated to be driven by an increase in the incidence of fungal otitis externa caused by aspergillus species. For instance, the Fungal Infection Trust, Aspergillus and Aspergillosis article states that Aspergillus species are responsible for around 75% of instances of otomycosis (fungal otitis externa). While Aspergillus flavus and Aspergillus fumigatus do occasionally cause fungal otitis externa, Aspergillus niger species is the most frequent culprit.

Market Dynamics:

During the projection period, a strong product pipeline is anticipated to fuel market expansion for fungal otitis externa. Important businesses in the pharmaceutical and healthcare sectors are concentrating on research and development efforts with a strong product pipeline for the treatment of fungal otitis externa. For instance, a pharmaceutical company with U.S. headquarters, Novus Therapeutics Inc., released topline data from its exploratory phase 2a clinical study of OP0201 for acute otitis externa in June 2020. Therefore, during the forecast period, these factors are anticipated to fuel growth of the global fungal otitis external market.

An infection of the outer ear canal is called fungal otitis externa. Most victims of fungal otitis externa reside in warm or tropical climates. People who frequently swim, have diabetes, or have other long-term medical and skin disorders are frequently affected as well. Otitis externa symptoms include ear pain, irritation in the ear canal, a liquid or pus discharge from the ear, and a temporary loss of hearing to some extent. Otitis externa is rather typical. It is predicted that one in ten individuals may experience it at some point throughout their lives.

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