SEATTLE, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Global Fungal Otitis Externa Market to US$ 206.94 Million by 2028, Says Coherent Market Insights (CMI)

According to Coherent Market Insights, the global fungal otitis externa market is estimated to be valued at US$ 169.40 million in 2021 and is expected to exhibit a CAGR of 2.9% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Fungal Otitis Externa Market:

Key players operating in the market are focusing on development and approval of novel therapeutics for the treatment of fungal otitis externa, which is expected to offer a lucrative opportunity to the market players to approve and launch the innovative products in the market. For instance, in January 2020, Salvat, a Spanish laboratory that manufactures products such as Cristalmina, Monolitum, Relive, Levogastrol, and Cetraxal, expects the approval and launch of the first topical medicament SVT-15652 for the treatment of otomycosis (fungal otitis externa) by the end of 2021 in the U.S. and Europe. This commitment reinforces Salvat's position as a world leader in the field of otology.

Key Market Takeaways:

The global fungal otitis externa market is expected to exhibit a CAGR of 2.9% during the forecast period owing to increasing incidence and prevalence of fungal otitis externa is expected to drive market growth over the forecast period. For instance, according to the article published in the Pan African Medical Journal in June 2015, out of 13,328 cases administered for ear diseases, 133 cases were diagnosed with otitis externa, irrespective of age group in Kaduna, Nigeria.

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Among drug type, ear drops segment is estimated to hold dominant position in the global fungal otitis externa market in 2021. Ear drops are used as a primary or front line treatment for fungal otitis externa. They are used to remove debris from the external auditory canal, and to control edema and infection, and avoid other contributing factors which cause chronic infection in the ear. Acetic acid is another common treatment for otomycosis. Usually, a two percent solution of these ear drops is used several times a day for about a week. Another option is to use five percent aluminum acetate ear drops.

On the basis of fungus type, aspergillus segment estimated to hold largest market share in the global fungal otitis externa market over the forecast period. Rising prevalence of fungal otitis externa due to aspergillus species is expected to drive the growth of this segment over the forecast period. For instance, according to the Fungal Infection Trust, Aspergillus and Aspergillosis article, about 75% cases of otomycosis (fungal otitis externa) are caused by Aspergillus species. Aspergillus niger species is the most common cause of fungal otitis externa, with occasional cases caused by Aspergillus flavus and Aspergillus fumigatus.

Among regions, North America is estimated 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, owing to the increasing prevalence of fungal otitis externa in the U.S. For instance, according to the report published by Centers for Disease Control and Prevention in May 2011, around one in 123 persons were affected by acute otitis externa in the U.S. during 2007 and it accounted for an estimated one in 324 emergency department visits and one in 481 ambulatory-care visits for treatment of fungal otitis externa.

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Market Segmentation:

• Global Fungal Otitis Externa Market, By Drug Type:
  • Ear Drops
    • Clotrimazole
    • Fluconazole
    • Acetic Acid (2%)
  • Oral Medications
    • Itraconazole
    • NSAIDS
  • Topical Medications
  • Late Stage Pipeline Drugs
• Global Fungal Otitis Externa Market, By Fungus Type:
  • Aspergillus
  • Candida
• Global Fungal Otitis Externa Market, By Route of Administration:
  • Otic
  • Oral
  • Topical
• Global Fungal Otitis Externa Market, By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Global Fungal Otitis Externa Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Europe
    • By Country:
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

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