Global Tinnitus Management Market - 2022-2029

Global Tinnitus Management Market - 2022-2029

Market Overview

The global tinnitus management market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

Tinnitus is a condition in which one or both ears ring and make other noises. When one has tinnitus, the noise is not caused by external sounds, and most people can't hear it.

Market Dynamics

The factors influencing the global tinnitus management market are the increasing technological advancements and the growing prevalence of tinnitus.

The increasing technological advancements are expected to drive the market growth in the forecast period

Tinnitus is the perception of a sound in the absence of a sound source and is commonly referred to as ringing in the ears. Tinnitus is caused by a complex chain of changes in the brain's auditory and emotional networks after an ear or head injury. Tinnitus can have a mild to severe impact on life quality, disrupting hearing, attention, and sleep and causing anxiety and depression. The prevalence of significant tinnitus is highest among the elderly.

Over the last decade, there has been a surge in interest in understanding chronic tinnitus from scientific and clinical perspectives. At the same time, there is a lot of interest and money behind providing targeted and individualized care that combines novel sound-based technologies with traditional audiological and psychological strategies. Coordinated Reset Neuromodulation, Neuromonics, Serenade, and Widex Zen are examples of commercially available sound-based tinnitus devices. Furthermore, experimental interventions based on frequency discrimination training are gaining popularity. Many of these treatments make the bold claim to address tinnitus's underlying neurological causes. Moreover, digital HAs appeared to be more effective tinnitus therapy tools than their analog counterparts in the first generation. A search on the Apple iTunes store in April 2021 turned up over 100 digital albums labeled tinnitus relief.

Limitations associated with the management of tinnitus are expected to hamper the market growth

Randomized controlled trials have looked at pharmacological interventions, sound-based interventions, psychological interventions, magnetic stimulation, electrical stimulation, manual physical therapy, relaxation therapy, complementary and alternative medicine (CAM) therapies, education and information, self-help interventions, and complex interventions (defined as a combination of two or more of the preceding modalities). The majority of trials have focused on reducing the daily impact of tinnitus rather than looking for long-term or potentially curative treatments that address the disorder's underlying causes.

Moreover, some medications can exacerbate tinnitus. Certain Devices, antimalarial drugs, and cancer drugs are among them. Some of their side effects include severe hearing loss, vertigo, nausea, or vomiting, sounds only heard in one ear, problems with coordination, and one side of the face or body being numb.

COVID-19 Impact Analysis

Tinnitus is thought to be caused by damage or inflammation in the inner ear during COVID-19, which can occur because of a viral infection or your body's immune response. Tinnitus was reported as a symptom by 14.8% of people who developed COVID-19, according to a systematic review published in 2021. Another review of studies from 2021 found that the estimated rate of tinnitus in COVID-19 was lower, at 4.5 percent. For some people, having COVID-19 may exacerbate pre-existing tinnitus. According to a 2020 survey, 40 percent of 237 people with tinnitus who developed COVID-19 said their tinnitus worsened. It also appears that pandemic-related stress can exacerbate pre-existing tinnitus. In a 2021 study, for example, 188 people's experiences with tinnitus in 2019 and 2020 were compared. Hence, covid-19 is expected to positively impact the market growth.

Segment Analysis

By product, the devices segment is expected to dominate the market growth

Millions of people suffer from tinnitus, which is the perception of phantom noises without actual sound. According to one study, one out of every ten adults in the United States suffers from tinnitus, with nearly a quarter of these people experiencing symptoms for more than 15 years. Tinnitus can cause complications such as difficulty concentrating, fatigue, anxiety, and a general decline in quality of life. Researchers have moved one step closer to developing a tinnitus treatment. According to a new study published in Science Translational Medicine, a non-invasive device that uses a technique known as bimodal neuromodulation, which combines sounds with zaps to the tongue, may effectively provide relief to tinnitus patients. For instance, Neuromod's bimodal neuromodulation device is currently available for €2,500 to €2,750 (roughly $2,900 to $3,200) through physicians in Ireland and Germany. Neuromod's device aims to make the brain more sensitive to things other than tinnitus by using a secondary sensory input, the ears.

Moreover, new technology is now taking a radically new approach, retraining the brain from ignoring these sounds, effectively eliminating the condition. The Levo System, an FDA-approved technology, mimics the specific sounds of a patient's tinnitus. While sleeping, the patient listens to the sounds through earbuds. After a few months of treatment, the brain becomes accustomed to the sounds because it is most responsive to sensory input during sleep.

Geographical Analysis

North America region is expected to hold the largest market share in the global tinnitus management market

The growing prevalence of tinnitus and increasing research and development in this region is expected to drive the market growth.

According to CDC, tinnitus lasting at least five minutes has affected about 10% of the adult population in the United States or about 25 million people. Hearing loss has a more noticeable cumulative effect in older people. Moreover, NHPN-1010, developed by Oblato, an HLB Therapeutics US subsidiary, is a candidate for combining OKN-007, a brain tumor therapy in development, with the antioxidant ANN-acetylcysteine. The company confirmed the therapeutic effect on hearing loss prevention and tinnitus in a preclinical trial. According to HLB Therapeutics, the EAP was applied after Dr. Santosh Kesari of the Saint John's Cancer Institute in the United States, who had conducted clinical trials for HLB Therapeutics to treat recurrent glioblastoma, suggested it might be useful for tinnitus.

Competitive Landscape

The global tinnitus management market is moderately competitive with mergers, acquisitions, and product launches. Some of the key players in the market are Sandoz AG, Sound Pharmaceuticals, Starkey Laboratories, Inc., GN Hearing A/S, Widex A/S, Oticon Inc., Neuromod Devices Ltd., Neuromonics, Inc., Puretone Ltd., Signia

Signia

Overview: Signia is a world-renowned hearing aid manufacturer. Its parent organization is Sivantos, Inc. The company was founded in 1878 and is headquartered in New Jersey, United States.

Product Portfolio: A tinnitus noiser function in Signia hearing aids generates additional sound in the form of a soft therapy signal. This helps to relax and enjoy life by effectively distracting from tinnitus. The therapy signals can be customized to specific needs and various preset signals.

Key Development: On May 18th, 2021, Signia, a leading hearing aid manufacturer, launched its Augmented Xperience (AX) hearing aid platform, which intelligently and automatically processes sound to ensure that listeners can hear clearly in any situation.

Why Purchase the Report?

Visualize the composition of the global tinnitus management market segmentation by product, indication, and distribution channel, highlighting the key commercial assets and players.

Identify commercial opportunities in global tinnitus management market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of global tinnitus management market- level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global tinnitus management market report would provide an access to an approx. 45+market data table, 40+figures and 185 pages.

Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers