Tinnitus Management Market

Tinnitus Management Market

Tinnitus Management Market: Global Industry Analysis and Opportunity Assessment 2017 - 2025

  • XPLREP361

  • January, 2018

  • 141 Pages

  • Pharmaceutical

Increasing prevalence of tinnitus and a rising global geriatric population are driving the growth of the global tinnitus management market

Tinnitus is the third most common problem prevalent in the global population. It has been estimated that about 10%-15% of adults worldwide suffer from prolonged tinnitus that requires medical evaluation. Approximately, three-quarters of patients who experience tinnitus are not bothered by it. However, for the remaining 25 percent, tinnitus has a significant impact on their daily life. As per the estimates in the study carried out by the Chinese Federation of People with Disabilities, approximately 130 million Chinese experience ringing or buzzing sounds in their ears. Hence, the increasing prevalence of tinnitus around the globe is likely to propel the growth of the tinnitus management market during the period of assessment.

The geriatric population of the world is growing rapidly and this creates a vast potential for the growth of the global hearing aids market. Ageing is a predominant factor for hearing loss and other hearing related problems. According to the United Nations Department of Economics and Social Affairs, the number of elderly (65 and >65 years) was 841 million in 2013, which is four times higher than the figures of the geriatric population in 1950. The geriatric population is expected to triple in number and surpass the 2 billion mark by 2050. Keeping these figures in mind, nearly a third of the population aged 70 years and above report significant issues related to tinnitus which is likely to boost the growth of the tinnitus management market over the next decade.

Lucrative opportunities lie in the global tinnitus management market in the form of untapped markets in emerging economies and an increasing prevalence of hearing impairment

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