Otoplasty Market by Allergan, Sklar Surgical Instruments, Earfold, Invotec Internationa Etc Key Players Forecasts Till 2023

The Global Otoplasty Market report analyze developments which are competitive in nature Considering all the 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. at a CAGR of ~ 7.2 % during 2017-2023.

Otoplasty refers to surgical and non-surgical procedures for correcting external ear deformities and defects. The Otoplasty Market has been segmented as hospitals and clinics, academics and research and others.

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 influence of media and fashion industry coupled with greater screening for deformities at birth will drive the market for otoplasty.

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. Again, cosmetic otoplasty surgeries have almost no coverage. Most patients do not have a life threat from the deformity which leads to low number of patients than the actual potential of the surgery procedure.

Key Players for Global Otoplasty Market: Key players profiled in the report are Allergan, Sklar Surgical Instruments, Earfold, Invotec International, Inc., Phoenix medical systems pvt. ltd, EarBuddies and others.

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

Major TOC for Otoplasty Market:

Research methodology

Market dynamics

Market factor analysis

Global Otoplasty market, by type

Global Otoplasty market, by treatment

Global Otoplasty market, by end user

Global Otoplasty market, by region

Competitive landscape

Company profile

Conclusion

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The food supplements dominate the segment for treatment and are led by products such as Lactose free dairy products. Rising awareness and increasing health expenditures is a strong driver for the market for Otoplasty. Breast milk substitutes are another products which are used if breast feeding is not possible in infants with severe lactose intolerance. The breast milk substitutes products are fortified with dietary nutrients such as iron, vitamins etc. Vegetable products such as soy-based or rice-based infant milks are also available which is strengthening the market for Otoplasty.

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