Tinnitus Market Expected to Bolster the Growth by 2025
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High prevalence of tinnitus and the lack of any approved treatment options drive the development of drugs to treat this condition. The tinnitus treatment market is expected to offer immense opportunity to pharmaceutical and medical device companies. Various research institutes and organizations are focusing on development of drugs to treat tinnitus and remarkable advancements in research related to this condition have been made. For example, in May 2017, Sound Pharmaceuticals was awarded US$ 1.6 Mn by the Cystic Fibrosis Foundation Therapeutics to prevent and treat tinnitus caused by antibiotics.
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Rising investment in the research & development of treatments for tinnitus is expected to lead to the launch of novel drugs in the near future. Several pharmaceutical companies are currently conducting clinical trials of drugs to treat tinnitus. Over 10 clinical studies on drugs for the treatment of tinnitus are currently underway. In January 2017, Auris Medical Holding AG announced resumption of enrollment for TACTT3 phase 3 trial of Keyzilen, its candidate for the treatment of acute inner ear tinnitus.
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Companies such as Auris Medical and Merz Pharmaceuticals GmbH have their candidate products in pipeline which are expected to be launched in the next few years. Moreover, medical device companies such as Oticon Medical are conducting clinical trials on cochlear implant products. Key players engaged in tinnitus therapeutics development are Auris Medical Holding AG, AudioCure Pharma GmbH, Knopp Biosciences LLC, Merz Pharma GmbH & Co KgaA, and Otonomy, Inc.
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