Press Release

Earwax Removal Aid Market – Growth Assessment

The Earwax Removal Aid Market is forecasted to witness a significant growth over the course of the forecast period according to a newly published report by Fact.MR. The study highlights the critical trends that are likely to mold the growth of the Earwax Removal Aid Market in the forecast year 2019 to 2029. Further, the report introspects the various factors that are expected to influence the overall dynamics of the Earwax Removal Aid Market.

The report is an essential tool for stakeholders, upcoming market players, established companies, and investors who are looking to establish a strong presence in the Earwax Removal Aid Market landscape. A detailed understanding of the raw material suppliers, vendors, manufacturers, and other components of the supply chain is provided in report.

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Key Takeaways from the Report

  • Current and future prospects of the Earwax Removal Aid market in over the forecast period 2019 to 2029
  • Opportunity analysis for investors and market players in various regional markets
  • Regulatory and government policy framework relevant to the Earwax Removal Aid Market
  • Mergers, acquisitions, collaborations, and partnerships in the Earwax Removal Aid Market
  • Growth potential of the emerging market players in the Earwax Removal Aid Market

The report caters to the following questions related to the Earwax Removal Aid Market:

  • What is the anticipated value of the Earwax Removal Aid market in 2029?
  • Who are the leading market players in the Earwax Removal Aid Market in region 1 and region 2?
  • Which region is expected to witness the highest growth in terms of value during the forecast period?
  • How are market players in the Earwax Removal Aid Market adjusting to the economic slowdown worldwide?
  • Which country in region 3 is expected to have a majority of the market share during the assessment period?

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key players active in the earwax removal aid market include GlaxoSmithKline Plc., Cipla Ltd, Apothecary Products, LLC, Neilmed Pharmaceuticals, Inc., Prestige Consumer Healthcare Inc., Squip, Inc., Medline Industries, Inc., Equadose, DP Medical Systems, NuLife Pharmaceuticals, and others. In the earwax removal aid market, some top manufacturers such as GlaxoSmithKline Plc., Cipla Ltd, Medline Industries, Inc, and Prestige Consumer Healthcare Inc. account for a significant revenue share of ~30.0%, backed by high brand recognition. However, the remaining ~ 70% revenue is largely accounted by several local manufacturers operating in the earwax removal aid market, which includes Apothecary Products, LLC, Neilmed Pharmaceuticals, Inc., Squip, Inc., Equadose, DP Medical Systems, NuLife Pharmaceuticals, and others. Moreover, these local companies in the earwax removal aid market have a significant customer reach through various distribution channels and offer economical earwax removal aid products. The expansion of consumer touchpoints by the key players enable a significant potential to cover the untapped market opportunities for revenue generation in the earwax removal aid market.

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Increasing Patient Satisfaction Leads to Surge in Treatment-seeking Population

Hospitals have achieved higher patient satisfaction in the use of micro-suction earwax removal aids post screening of ear health and safe removal of earwax. Earwax removal aids are becoming a key component of the medical toolkits that are used in the non-invasive procedures, providing accurate evaluation and treatment of ear blockage or temporary hearing loss caused by earwax impaction. Earwax removal aids help healthcare professionals to properly and safely remove the excessive earwax and to suggest proper management and cleanliness methods to avoid excessive earwax formation. This has, in turn, helped the healthcare professionals to achieve patient satisfaction, and subsequently acts as the key driving factor for the growth of earwax removal aid market. Additionally, growing awareness and increasing patient satisfaction have resulted in an upsurge in the treatment-seeking population and acceptance of earwax removal procedures. These factors have created an instrumental impact on the earwax removal aid market growth. Moreover, the treatment paradigms available to manage earwax, including earwax removal aids are very economical, which increase the affordability of earwax removal aids for both patients and the healthcare facilities. The earwax removal aids provide a non-invasive option that has garnered significant traction in recent years. In addition, increased per capita healthcare expenditure is expected to contribute to the growth of the earwax removal aid market.

Gains Underpinned by Increasing Burden of Earwax Impaction Among all Age Groups and Favorable Reimbursement

Earwax impaction is a common otolaryngological problem. Almost all age groups have experienced earwax impaction once in their lifetime. In the United Kingdom, around 2-3 Mn population have earwax impaction, and require urgent medical attention and management. In 2015, in the United States, the prevalence rate of earwax impaction was found to ~ 10% among children, ~5% among healthy adults, and ~ 57% in the geriatric population. Moreover, the earwax impaction has increased among children and adults by ~ 30-35% compared to 2015 due to various factors such as increasing pollution, improper and lack of cleanliness, negligence of ear impaction symptoms, lack of knowledge on management, and/or unwillingness to regularly visit healthcare professionals for a regular health checkup. These factors are projected to contribute to the growth of the earwax removal aid market. Earwax extractions are largely performed in otolaryngology, head and neck surgery practices. Practice patterns and reimbursement rates for earwax extractions vary greatly across countries. In 2012, the U.S. Centers for Medicare & Medicaid Services spent ~US$ 47 Mn in reimbursements for otolaryngology procedures alone. However, the reimbursement for earwax extraction practice covers only Medicare Part B for Fee-for-Service beneficiaries and does not cover the younger population or demonstration programs. Also, only healthcare professionals who performed an earwax removal procedure on ~ 10 Medicare patients are included in the Centers for Medicare & Medicaid Services database. To some extent, these factors are likely to upsurge the treatment-seeking population and is expected to boost the earwax removal aid market growth.

Improper Healthcare Infrastructure and Lack of Expertise Potential Threats

A majority of the population prefer using earwax removal aids and medications to self-diagnose or manage self-recognized symptoms of earwax impaction. This is to avoid unnecessary expenditure on healthcare visits. The self-medication has potential risks that include incorrect use of earwax removal aid that can delay medical-seeking advice. Also, it can cause severe adverse side-effects or drug interactions that can lead to a wrong method of administration, choice of therapy, and dosage. These factors can lead to severe ear-related disorders or can lead to permanent hearing loss. Moreover, improper implementation of clinical practice guidelines and lack of proper healthcare infrastructure in developing regions, such as East and South Asia and the Middle East and Africa are factors expected to restrain the growth of earwax the removal aid market. In 2017, According to a survey conducted by the Centre of International Health, Norway, ENT services and other related training opportunities in 18 sub-Saharan African countries were extremely poor and the region lacks proper ENT services. Lack of awareness regarding available procedures and improper regulatory frameworks are also expected to hinder the growth of the earwax removal aid market. According to several studies published in the journal Global Health Action, the number of ENT surgeons per 100,000 people have declined in 4 countries in the Sub-Saharan African region. Furthermore, earwax removal aid requires special assistance and care. Physicians and nurses should have a thorough knowledge about earwax removal aids and should know the proper way to use them. Lack of knowledge and expertise while using earwax removal aids can lead to improper treatment, affecting the patient’s hearing ability and resulting into certain defects in ears.

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East Asia as Prominent Market to hold a Significant Market Share

The earwax removal aid market in East Asia, followed by South Asia, are the most prominent markets due to rising incidence rate and increasing patient pool affected by earwax impaction in these regions. China has a large number of local players operating in the earwax removal aid market that offers very economical earwax removal aids. Also, online purchasing of merchandise are very popular, which has created huge online sales potential for earwax removal aids in these regions. However, a majority of the population opt for earwax cleaning from unauthorized service providers other than hospital or ENT clinics. This has increased the number of people suffering from ear infection due to usage of poor and unhygienic practices. The earwax removal aid market in North America is expected to grow steadily, mainly due to increasing population suffering from earwax impaction and growing awareness of the available treatment options in the region. The increasing burden of earwax impaction is further driving the market growth. In hospitals and ENT clinics, the usage of earwax removal aids, especially micro-suction earwax removal aids is increasing. Also, many generic alternatives to branded products are available in the earwax removal aid market due to which the average selling price across product categories is expected to decrease in the forecast period.

The Analysts Viewpoint

The increasing usage of micro-suction earwax removal aids is likely to gradually decrease the use of other earwax removal aid devices such as loop, syringe, irrigation kits, etc. This factor has led our analysts to conclude that, the global earwax removal aid market is expected to show a steady growth rate, with East Asia and South Asia holding a large portion of the market share for the global earwax removal aid market. Ease of use of various types of earwax removal aids is likely to prompt enhanced utilization in homecare settings, thereby reducing the burden on care at health facilities.

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