Europe Otoscope Market - Forecasts from 2024 to 2029

Europe Otoscope Market - Forecasts from 2024 to 2029

The European otoscope market is projected to grow at a CAGR of 6.49% over the forecast period, from US$110.598 million in 2024 and is expected to reach US$151.442 million by 2029.

An increasing number of ear-related ailments, technological improvements like LED, video, or convenient otoscopes, and an aging populace that's more inclined to hearing problems are the major components boosting the market. The need for otoscopes and their diagnostic services is additionally rising, generally due to the increment in the prevalence of noise-induced hearing loss. The growing rate of otolaryngologists worldwide and the accessibility of rechargeable, user-friendly pocket otoscopes fuel the market. A global health problem that impacts autonomy, quality of life, communication capacities, and general well-being is hearing loss or disability.

Additionally, there are genetic variables, pregnancy complications, and the spread of exceedingly contagious infections like mumps, rubella, and meningitis that contribute to the rising predominance of hearing loss. Moreover, the requirement for otoscopes for the essential diagnosis of ENT-related disorders has expanded due to the increasing elderly population. For instance, in terms of the proportion of the population that is 65 years of age or older, the highest shares were found in Italy (24.0%), Portugal (24.0%), Finland (23.3%), Bulgaria (23.5%), Croatia (22.7%), and Greece (23.0%), while the lowest shares were found in Luxembourg (14.9%) and Ireland (15.2%). As people age, deafness becomes more common. More than 25% of adults over 60 suffer from debilitating hearing loss.

EUROPE OTOSCOPE MARKET DRIVERS:

The growing utilization of pocket otoscopes is predicted to bolster the market expansion.

Because of their small size—some are even pen-sized—pocket-sized otoscopes are easier to handle. These otoscopes are smaller and lighter than standard-sized ones. Some otoscopes come equipped with a camera or interface that allows viewing the image on a computer, therefore improving the efficiency of the otoscopy process due to the provision of high-quality images. One of the factors driving this market segment’s growth is the benefits that pocket-sized otoscopes have over their full-size counterparts.

Further, during the forecast period, factors like increased hearing loss and ear-related illnesses are expected to propel market growth. In developed countries like Europe, patients suffer from hearing loss or impairments, which has become one of the most common problems among them.

Almost 190 million residents of Europe have hearing or deaf problems at a certain level. To put it simply, this represents 20% of their entire population, which is equivalent to a fifth of them being unable to hear well due to either complete or partial malfunctioning ears. 236 million Europeans will have hearing loss of some kind by 2050. On average, 58,5 million people in Europe, or 11.1% of the total population, self-report having hearing loss, with 20% of those people being 65 years of age or older.

Europe Otoscope Market Geographical Outlook

The United Kingdom is expected to contribute to a significant share in the market expansion.

One of the key factors driving the otoscope market in the UK is the rising geriatric population. With increasing age, cases related to hearing loss and other ENT issues are expected to exist. For instance, according to the Age UK, the number of people aged 65 or above will be about 11 million in 2023. In the coming years, this number is expected to grow by 10% in the next five years and reach 32% of the total UK population by 2043.

Moreover, the population aging above 85 years is projected to increase rapidly by 8.2% in the next five years and 62.7% by 2043. Hence, the increasing elderly population will significantly impact market growth in the projected period.

Deafness is also one of the reasons propelling the otoscope market in the projected period. For instance, according to the Consortium for Research in Deaf Education, approximately 45,671 children will be deaf in the United Kingdom in 2023. London has the highest number of deaf people in the country, standing at 7,654, followed by North West, where 6,308 children are suffering from deafness. Hence, the increasing prevalence of deafness in the country is anticipated to fuel the market growth in the projected period.

According to the British Academy of Audiology, approximately 11 million people are suffering from hearing loss, making it the second most common disability in the country. Every 1 in 6 adults in the UK suffers from hearing loss in the country, and 8 million of these are aged from 65, and above. Moreover, about 9,00,000 people are profoundly or severely deaf. Many people suffering from hearing loss also suffer from tinnitus, which is expected to impact every 1 in 10 adults in the UK. Therefore, the increasing disease predominance is anticipated to propel the otoscope market in the coming years.

Market Segmentation:

The European Otoscope Market is segmented and analyzed as below:

By Type
Pocket Otoscope
Full-Sized Otoscope
Video Otoscope
By Modality
Wired
Wireless
By Portability
Wall-Mounted
Portable
By End-Users
ENT Clinics
Hospitals
Others
By Country
UK
Germany
France
Spain
Italy
Others