Tinnitus Management: Introduction
- Tinnitus is a medical condition in which a person experiences ringing or other noises in either one or both ears. The sound the tinnitus affected person hears is not caused by external sources, and the normal people usually can’t hear it. The sound may be high pitched or low pitched, and it may me soft or loud.
- Tinnitus is a common issue among geriatric people, and it affects around 15% to 20% of the total population
- Tinnitus is usually caused by an underlying medical condition or problems in the circulatory system, or due to an ear injury, or age-related hearing loss
- Hearing aids, sound masking devices, and notched-music devices are available for the effective management of tinnitus in people of all age groups
Tinnitus Management Market: Key Drivers
- It is estimated that the tinnitus is third-most common problem across the globe, and over 10% to 15% of the total adult population suffer from prolonged tinnitus, which is a key factor propelling the global market for tinnitus management
- Rapid increase in geriatric population is also offering opportunity to manufacturers of hearing implants. This is another factor that is estimated to propel the market in the next few years.
- According to the Chinese Federation of people with Diabetes, about 130 million people experience buzzing sound in their ear, which is a key factor that is also projected to fuel the market in the near future.
- According to the National Institute on Aging, almost 524 million individuals, which is about 8% of the global population, were above the age of 65 in 2010. This number is expected to reach 1.5 billion, which is almost 16% of the global population, by 2050. Most of the population is expected to be from developing countries.
Hearing Aids Segment to Lead Global Market
- In terms of product type, the global tinnitus management market can be classified into sound masking devices, notched-music devices, and hearing aids. The hearing aids segment is projected to dominate the global market during the forecast period.
- Wide adoption, ease of use, and easy availability of hearing aids are major factors that are likely to contribute to dominant share of the segment during the forecast period
ENT Clinics Segment to Dominate Global Market
- Based on distribution channel, the global tinnitus management market can be categorized into hospitals, ENT Clinics, and E-commerce. The ENT clinics segment is projected to dominate the global market during the forecast period.
- Large number of ENT clinics, rapid increase in number of ENT clinics in emerging countries, and increased availability of tinnitus management devices are attributed to the dominance of the ENT clinics segment of the market
North America Tinnitus Management Market to Expand Rapidly
- In terms of region, the global tinnitus management market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to dominate the global tinnitus market during the forecast period. High prevalence and increase in incidence of tinnitus, rapid increase in number of geriatric population, and high per capita healthcare expenditure in the region are key factors that are expected to boost the market in North America during the forecast period
- The tinnitus management market in Europe is likely to expand at a high CAGR during the forecast period. This can be ascribed to a rise in the number of people suffering from tinnitus, new product development, increased availability of these products in Europe, and increased adoption of these implants in the region.
- Significant expansion of the healthcare industry, easy access to healthcare facilities, and increase in investments in healthcare by leading players in Europe are projected to augment the market in the region in the near future
Key Players Operating in Global Tinnitus Management Market
The global tinnitus market is fragmented, with a large number of international and domestic players holding a major share of the global market. Prominent players operating in the global tinnitus management market include:
- Sivantos, Inc.
- Starkey Hearing Technologies, Inc.
- GN Hearing A/S.
- Widex A/S
- Oticon Inc.
- Neuromod Devices Ltd.
- Neuromonics, Inc.
- Puretone Ltd.
Global Tinnitus Management Market: Research Scope
Global Tinnitus Management Market, by Product Type
- Sound Masking Devices
- Notched-music Devices
- Hearing aids
Global Tinnitus Management Market, by Distribution Channel
- ENT Clinics
Global Tinnitus Management Market, by Region
- North America
- Rest of Europe
- 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?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.