Otology Drills Market Introduction

Otology drill is a surgical equipment primarily used during otologic procedures. Otology drills are available with different operating speeds, ranging from 16,000 rpm to 85,000 rpm, as per the need and requirement of otologic procedure. These drills feature straight and angled attachments to achieve desired flexibility, surgical access & visibility, and irrigation systems, and are power driven. These are available in different types of surgical bur attachments to serve required purpose of otology surgeries. 

Global Otology Drills Market - Competitive Landscape

The global otology drills market is consolidated, with small number of players holding majority share in respective regions. New product development & commercialization and mergers & acquisition are the key trends observed in the global otology drills market. 

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Medtronic plc

Medtronic plc is a diversified medical device company engaged in the manufacture of a range of medical devices & technologies. The company develops and markets products and therapies in the areas of cardiac rhythm disorders, cardiovascular diseases, neurological disorders, spinal conditions, ENT surgeries, and diabetes. It operates business through four functional divisions: Cardiac & Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The company offers four different types of otology drills in its product portfolio: Indigo Otology Drills, Visao High-Speed Otologic Drill, and Midas Rex Legend Stylus Surgical Drills. 

Stryker Corporation

Stryker Corporation is a global medical devices company that operates through three business segments: orthopedics, MedSurg, and neurotechnology & spine. The company is a leading player in the medical devices industry. It offers a range of products such as implants employed in orthopedic, trauma, and replacement surgeries; endoscopic and communication systems; emergency medical equipment and intensive care disposable products, and surgical equipment & surgical navigation systems. The company offers S2 πDrive Drill and S2 Mini Drill System in the otology drills market. 

DePuy Synthes

DePuy Synthes is a part of Johnson & Johnson’s medical device segment. The company offers joint reconstruction solutions for knee, hip, and shoulder joints. DePuy Synthes offers a range of solutions addressing key areas of spine surgery such as cervical, thoracolumbar, ENT surgery, aging spine, minimally invasive surgery, and interbody fusion. The company operates across the world through its direct sales force, independent sales agents, and distributors. The company offers ANSPACH EMAX 2 Plus System and Anspach High Speed Drill System in the otology drills market. 

CONMED Corporation

CONMED Corporation is a global medical technology company engaged in the development, manufacture, and marketing of surgical and patient-monitoring devices for minimally invasive procedures. The company’s products and technologies have wide usage in the following medical specialties: orthopedics, laparoscopy, robotic and open surgery, gastroenterology & pulmonology, cardiology, ENT surgery, and critical care. CONMED Corporation operates through three business segments: orthopedic surgery, general surgery, and surgical visualization. 

Other leading players operating in global otology drills market include Olympus Corporation, NOUVAG AG, KARL STORZ, SPIGGLE & THEIS Medizintechnik GmbH, and Bien-Air Surgery SA. 

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Otology Drills Market - Dynamics 

High Prevalence and Incidence Rates of Hearing Loss to Drive Market

The global otology drills market is primarily driven by high prevalence of hearing loss. According to the Hearing Loss Association of America (HLAA), hearing loss is considered to be the third most common physical condition after arthritis and heart disease, affecting people of all ages. Gradual hearing loss can affect people of all ages — differing from mild to profound. It can be mild or severe, temporary or permanent, depending on the cause. According to the WHO, a person who is unable to hear as well as someone with normal hearing — hearing thresholds of 25 dB or better in both ears — is considered to have hearing loss. Moreover, in 2019, nearly 466 million people across the world are likely to have disabling hearing loss. Among them, 93% are anticipated to be adults and 7% children. Among adults, more men (56%) than women (44%) are expected to have disabling hearing loss. Hence, high prevalence of hearing loss is projected to fuel the growth of the global otology drills market during the forecast period. 

Technological advancements in the development of otology drills, such as high speed otology drills, compatibility of different sized otology burs, and development of integrated power systems are anticipated to boost the growth of the market during the forecast period. 

Global Otology Drills Market - Segmentation

In terms of speed, the global market can be classified into:

  • High Speed Otology Drills (up to 86,000 rpm)
  • Medium Speed Otology Drills (up to 50,000 rpm)
  • Low Speed Otology Drills (up to 16,000 rpm)

Based on end-user, the global market can be divided into:

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics

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
  • Europe
  • 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.

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Otology Drills Market

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