Global Acute Sensorineural Hearing Loss Treatment Market: Introduction
Acute sensorineural hearing loss occurs when the inner ear, the cochlea in the inner ear, or the nerve pathways between the ear and the brain get damaged. Audiometry tests can check human hearing more thoroughly and precisely. During these tests, an audiologist tests the patient’s hearing ability by using earphones. A series of different sounds and volume levels is sent to each ear individually. This helps determine the level at which hearing begins to fade. About 4,000 cases of acute sensorineural hearing loss are diagnosed every year in the U.S. The condition most commonly affects people aged between 30 and 60 years. About 50% of people in the U.S. are suffering from unilateral acute sensorineural hearing loss, wherein only one ear is affected. This condition can be recovered within two weeks with prompt treatment. About 15% of people with this condition have hearing loss that can gradually worsen over time. However, advancements in technology used for hearing aids and cochlear implants are helping improve communication for people affected by hearing loss.
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Key Drivers of Global Acute Sensorineural Hearing Loss Treatment Market
Rapidly growing incidence of acute sensorineural hearing loss
- The rate of incidence of sudden sensorineural hearing loss is 5–20 per 100,000 individuals. The actual rate of incidence of sudden sensorineural hearing loss may be higher than these estimates, as affected individuals that recover quickly do not opt for medical care. The two most common bacterial infections known to cause sudden sensorineural hearing loss in the U.S. are Lyme disease and syphilis. Lyme disease is endemic in North America. It is caused by infection by a spirochete called Borrelia burgdorferi, which is transmitted by the bite of deer ticks.
Increase in geriatric population
- Elderly population across the globe continues to grow at an unprecedented rate. Presently, 8.5% of people across the world (i.e. 617 million) are aged 65 years or above. In the U.S., approximately one in three people aged between 65 and 74 years has hearing loss and nearly 50% of people aged above 75 years have difficulty hearing. Having trouble hearing can make it hard to understand and follow doctor's advice; respond to warnings; and hear phones, doorbells, and smoke alarms. Hearing loss can also make it hard to enjoy talking with family and friends, leading to feeling of isolation. According to a new report titled ‘An Aging World: 2015’ published by International Population Reports, the percentage of elderly population is projected to increase to nearly 17% of the world’s population that is 1.6 billion by 2050. According to the National Institutes of Health, the number of people in the U.S. aged 65 years or above is anticipated to nearly double in the next three decades, from 48 million to 88 million by 2050.
Increasing noise pollution
- Based on a study by CDC in 2011–12 involving hearing tests and interviews with participants, the National Institute on Deafness & Other Communication Disorders states that at least 10 million adults in the U.S. (i.e. 6%) are aged 70 years or below and 40 million (i.e. 24%) have hearing loss in one or both ears caused by exposure to loud noise.
North America to Account for a Major Share of Global Acute Sensorineural Hearing Loss Treatment Market
- North America is projected to account for a major share of the global acute sensorineural hearing loss treatment market during the forecast period. The market in the region is anticipated to expand at a rapid pace in the near future, primarily due to availability of developed health care infrastructure and continuous research activities for the development of advanced technologies in the region. North America is expected to be followed by Europe during the forecast period.
- The acute sensorineural hearing loss treatment market in Asia Pacific is expected to expand at a high CAGR during the forecast period. This can be attributed to rise in the trend of preventive health care measures in the region.
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Key Players Operating in Global Market
The global acute sensorineural hearing loss treatment market is highly consolidated, with the presence of a small number of key players. Several manufacturers hold a major share of the market in their respective regions. Leading players operating in the global acute sensorineural hearing loss treatment market are:
- Bristol-Myers Squibb Company
- Watson Laboratories
- Inapta Pharmaceuticals
- Renate Pharmaceutical
- Merck & Co Ltd
- F. Hoffmann-La Roche Ltd.
- Eli Lilly and Company
- Novartis AG
- GlaxoSmithKline Plc
- Teva Pharmaceuticals
Global Acute Sensorineural Hearing Loss Treatment Market: Research Scope
Global Acute Sensorineural Hearing Loss Treatment Market, by Treatment Type
- Systemic Steroids
- Antiviral Medication
- Carbogen Therapy
Global Acute Sensorineural Hearing Loss Treatment Market, by Indication
- Viral Infection
- Vascular Compromise
- Intracochlear Membrane Rupture
- Immune-mediated Inner Ear Disease
- Iron-deficiency Anemia
Global Acute Sensorineural Hearing Loss Treatment Market, by End-user
- Otology Clinics
- Ambulatory Clinics
Global Acute Sensorineural Hearing Loss Treatment Market, by Region
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.