Acute Otitis Media Treatment Market-Forecast to 2025
Increasing prevalence of AOM disease is expected to drive growth of the acute otitis media treatment market
According to a research published in South African Medical Journal in 2014, global incidence rate of acute otitis media is 10.9% and it was estimated that 80% of children will have at least one episode of acute otitis media (AOM) before the age of 3. Increasing prevalence of acute otitis media is expected to create a conducive environment for growth of acute otitis media treatment market in near future. Furthermore, according to a study published in Formulary Journal in 2014, AOM accounted for healthcare expenditure of around US$ 314 per child per year in the U.S. which is additional US$ 2.88 billion healthcare expenditure. Moreover, stringent guidelines and recommendations in terms of treatment of AOM for children by various non-governmental and governmental bodies is expected to be factor for growth of the market. For instance, in 2013, the American Academy of Pediatrics (AAP) updated the guidelines for treatment of AOM. AAP launched 'The Diagnosis and Management of Acute Otitis Media', in 2013, which provides recommendations to physicians for managing uncomplicated AOM in children. As compared to previous guideline published in 2004, the new guideline has added more criteria for diagnosing AOM. This update in guideline is expected to help in better diagnosis and higher treatment rate, which may boost growth of the global acute otitis media treatment market.
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The global acute otitis media treatment market was valued at US$ 1,943.9 million in 2016 and is expected to witness a CAGR of 5.1% over the forecast period (2017–2025).
Launch of novel drugs is expected to support growth of acute otitis media treatment market in the near future
Launching of new products for acute otitis media treatment by key players are factors expected to create a conducive environment for market growth in the near future. For instance, in 2016, Laboratorios SALVAT S.A. and Arbor Pharmaceuticals, LLC launched its OTOVEL (ciprofloxacin 0.3 % and fluocinolone acetonide 0.025 %). This solution is indicated for the treatment of acute otitis media with tympanostomy tubes (AOMT) in pediatric patients. Moreover, in 2016, Otonomy, Inc. launched its OTIPRIO (ciprofloxacin otic suspension), indicated for the treatment of pediatric patients with bilateral acute otitis media in the U.S.
Presence of generic drugs, at much lower price compared to branded drugs, in market for the treatment of acute otitis media is the major factor which is expected to hamper the growth in near future. For instance, in 2015, Aurobindo Pharma Ltd. received US FDA approval to launch its generic antibiotic Cefixime in the U.S. market. Cefixime is a third generation cephalosporin indicated for the treatment of acute otitis media.
Furthermore, key players manufacturing drugs for treatment of acute otitis media are focusing on increasing their online presence, by launching websites, in order to expand their customer base. For instance, in 2013, Alcon launched its DROPS101 Web Tools — a mobile website that provides educational resource about commonly prescribed eye and ear treatments. DROPS101 Web Tools offers product information related to the treatment of acute otitis media.
Key players operating in the acute otitis media treatment market include Pfizer, Inc., Eli Lilly and Company, Abbott Laboratories, GlaxoSmithKline plc., Bayer AG, Novartis AG, Pediapharm Inc., Sanofi S.A., and Bristol Myers Squibb Company.
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