GVR Report cover Hearing Loss Disease Treatment Market Size, Share, And Trend Report

Hearing Loss Disease Treatment Market Size, Share, And Trend Analysis Report By Product (Drugs (Systemic Steroids, Antiviral Medication, Vasodilators), Devices), By Disease Type, By End-user, By Region, And Segment Forecasts, 2022 To 2030

  • Report ID: GVR453619
  • Number of Pages: 0
  • Format: Electronic (PDF)

Hearing loss has a serious impact on an individual’s growth and development. According to WHO, globally 430 million people or approximately 5% of the world’s population require attention and action for their hearing disability. Moreover, WHO estimated that by 2050, 2.5 billion people will have some degree of hearing impairment and 700 million people may require rehabilitation in the coming future. Approximately 80% of disease cases belong to low- and middle-income countries. Age has a direct impact on such disabilities and accounts for 25% of auditory impairment in above 60 years of individuals. Thus, an increase in the prevalence of the condition is offering lucrative opportunities for hearing loss disease treatment market growth.

Hearing loss disease treatment market has been mainly segmented on the basis of product as:

  • Devices

  • Drugs

    • Systemic steroids

    • Antiviral medication

    • Vasodilators

    • Others

A large chunk of disease cases can be prevented through interventions such as community-oriented health education. WHO promotes public awareness through World Hearing Day held every March. However, low- and middle-income countries lack the capacity to implement such interventions effectively. For instance, high-income countries offer evaluation of possible auditory disability in newborns but low- and middle-income countries don’t appear to consider it as an initiative in controlling disease. Therefore, such demographic imbalance is further contributing to the rising prevalence of disease and driving the hearing loss disease treatment market.

The growing research and development in the space are expected to offer better treatment options in coming years. This can be attributed due to the presence of more than 45 therapies under the clinical pipeline at different phases of trials. Some of the pipeline candidates include Frequency Therapeutics’ FX-322, Pipeline Therapeutics’ PIPE 505, Sensorion’s SENS-401, Strekin’s STR001, Otonomy Inc.’s OTO-413, OTO-825, OTO-6XX and OTO-510, and Acousia Therapeutics Gmbh’s ACOU085 and ACOU082 amongst others.

Key market players are taking efforts such as new product launches, collaborations, agreements, regional expansion to maintain their position in market. For example, in July 2022, Astellas Pharma Inc. and Mogrify Limited entered into a collaborative research agreement to develop regenerative medicines in the segment of sensorineural hearing loss. This collaboration will work on the identification of transcription factors that are responsible for cell differentiation to help generate new cochlear hair cells. Astellas Gene Therapies will cover the cost of the research work and also provide its expertise in AAV based genetic medicine. Additionally, in September 2022, Fennec’s drug Pedmark received FDA approval for the treatment of cisplatin-induced ototoxicity in adolescents and children.

Hearing Loss Disease Treatment Market Segmentation

Segments

Details

Product

Devices, and Drugs (Systemic steroids, Antiviral medication, Vasodilators, Others)

Disease Type

Conductive Hearing Loss, Sensorineural Hearing Loss, Mixed (Conductive and Sensorineural)

End-user

Hospitals, Otology clinics, and ambulatory clinics

Region

North America; Europe; Asia Pacific; Latin America; Middle East and Africa (MEA)

 

Major companies operating in the hearing loss disease treatment market include Pfizer Inc.; Merck & Co Ltd; F. Hoffmann-La Roche Ltd.; GlaxoSmithKline Plc; Teva Pharmaceuticals; Benson Hearing; GN Store Nord A/S; William Demant Holding A/S; Medtronic; and Widex USA, Inc. amongst others. Some of the key players that have products in pipeline include Otonomy, Inc., Acousia Therapeutics GmbH, Strekin AG, Sensorion, Pipeline Therapeutics, and Frequency Therapeutics amongst others.

gvr icn

GET A FREE SAMPLE

gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn

NEED A CUSTOM REPORT?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member

D&B icon

Leading SME award by D&B

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon