The global fungal otitis externa market size was valued at USD 170 million in 2021 and is projected to reach around USD 220 million in 2030 exhibiting a CAGR of 3.0% in the forecasted period. The rising development and sanction of latest therapies for the management of fungal otitis externa, growing incidence and occurrence of fungal otitis externa are the major factors that boost the development of the global fungal otitis externa market. On the other hand, rising accessibility of generic medicines and difficulties related to drugs used in the management is expected to hamper the growth of fungal otitis externa market growth.
A strong product pipeline is projected to boost growth of the global fungal otitis externa market throughout the forecasted period. Key players in the healthcare and pharmaceutical industries are concentrated on research and development activities with a vigorous product pipeline for the treatment of fungal otitis externa. For example, in June 2020, Novus Therapeutics Inc., a U.S.-based pharmaceuticals company, declared topline results from the company’s exploratory phase 2a clinical trial of OP0201 in acute otitis externa. Consequently, these factors are anticipated to boost growth of the global fungal otitis external market throughout the forecasted period.
The eruption of the COVID-19 pandemic has adversely impacted growth of the global fungal otitis externa market. Consequential the pandemic, several nations employed strict countrywide lockdown regulations. Manufacturing and construction events were postponed temporarily, to control the spread of the virus. Additionally, the global supply chain industry observed a massive disturbance owing to restrictions on worldwide trade and travel. But, current relaxation in lockdown strategies and decreasing cases can offer lucrative openings for potential growth.
Drug Type Insights
Among drug type, ear drops segment is assessed to hold dominant position in the global fungal otitis externa market in 2021. Ear drops are utilized as a major or front line treatment for fungal otitis externa. They are used to eliminate debris from the exterior auditory canal, and to regulate edema and infection, and escape other backing factors which cause enduring infection in the ear. Acetic acid is additional common treatment for otomycosis. Regularly, a two percent solution of these ear drops is used numerous times a day for about a week. Alternative option is to use five percent aluminum acetate ear drops.
Fungus Type Insights
On the basis of fungus type, aspergillus segment expected to hold largest market share in the global fungal otitis externa market during the forecasted period. Growing prevalence of fungal otitis externa due to aspergillus species is anticipated to drive the growth of this segment over the forecasted period. For instance, as per the Fungal Infection Trust, Aspergillus and Aspergillosis article, about 75% cases of otomycosis (fungal otitis externa) are produced by Aspergillus species. Aspergillus niger species is the most common cause of fungal otitis externa, with irregular cases instigated by Aspergillus flavus and Aspergillus fumigatus.
Region Insights
Among regions, North America is projected to hold largest market share in the global fungal otitis externa market over the forecast period. North America is expected to be the most lucrative region in the global fungal otitis externa market, due to the growing prevalence of fungal otitis externa in the U.S. For instance, as per the report issued by Centers for Disease Control and Prevention in May 2011, about one in 123 persons were affected by acute otitis externa in the U.S. across 2007 and it accounted for a projected one in 324 emergency department visits and one in 481 ambulatory-care visits for management of fungal otitis externa.
Key Companies Insights
The market for fungal otitis externa is moderately competitive. With the rising applications of fungal otitis externa, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Fungal otitis externa market, ultimately boosting the market growth. Some of the key companies working in the global Fungal otitis externa market include:
• Novartis
• Bayer AG
• Sanofi
• GlaxoSmithKline plc.
• AbbVie
• Par Pharmaceutical, Inc.
• Hi-Tech Pharma
• Actavis Mid-Atlantic
• Hill Dermaceuticals Inc.
• NuLife Pharmaceuticals
• Glenmark Pharmaceuticals Limited
• Pfizer Inc.
• Janssen Pharmaceutical
• McNeil Consumer Healthcare
• Mylan N.V.
• Salvat Laboratories
• Other players
Some of the Recent Developments:
• In November 2022, the Denver Health and Hospital Authority initiated a clinical trial study beneath the title "RELAX: Reducing Length of Antibiotics for Children with Ear Infections (RELAX)". The objective of the study is to estimate the effectiveness and execution results of two low-cost interventions of several intensities to upsurge the prescribing of suggested short antibiotic durations for acute otitis media (AOM) in children 2 years of age and older.
• In June 2021, Olympus Australia partnered with InterMed Medical to dispense ENT products in Australia and New Zealand. This corporation helped endorse and allocate Olympus ENT products in Australia and New Zealand.
Segments
By Type
• Ear Drops
o Clotrimazole
o Fluconazole
o Acetic Acid (2%)
• Oral Medications
o Itraconazole
o NSAIDS
• Topical Medications
• Late Stage Pipeline Drugs
By Fungus Type
• Aspergillus
• Candida
By Route of Administration
• Otic
• Oral
• Topical
By Distribution Channel
• Hospital pharmacy
• Retail Pharmacy
• Online Pharmacy
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt