The Global Tinnitus Management Market Growth is Accelerated by Rising Prevalence of Tinnitus

 


Tinnitus, commonly known as ringing in the ears, is the perception of sound within the human ear in the absence of corresponding external sound. It is a prevalent condition affecting about 10-15% of the adult population globally. The condition can disrupt sleep, concentration and overall quality of life. Devices offering sound therapy have been found to provide relief from the phantom noises. Masking devices that produce soothing background noise and sound generators that distribute specific frequencies are often prescribed to patients.

The global Tinnitus Management Market is estimated to be valued at US$ 2.72 billion in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The rising prevalence of tinnitus among the growing geriatric population globally is driving the demand for management devices. Age-related hearing loss is a major cause of tinnitus. Approximately 50% of people over 65 years of age experience tinnitus. Moreover, prolonged exposure to loud noises from lifestyle or occupation has led to a surge in tinnitus cases. Growing awareness regarding the availability of successful treatment options is encouraging more patients to seek clinical help. Device manufacturers are increasingly focusing on developing innovative and minimally invasive therapies. New devices that use specific noises, tones and even music are being launched to widen treatment options. This is positively impacting the revenue generation in the tinnitus management market.


Segment Analysis
The global tinnitus management market is segmented based on treatment type into sound therapy, tinnitus retraining therapy, and cognitive behavioral therapy. Among these, sound therapy holds the largest market share as it is the most common and effective treatment option available for tinnitus management. Sound therapy helps reduce the perception of noise by introducing pleasant sounds or masking the perceived noise.

Key Takeaways

The global Tinnitus Management Market is estimated to be valued at US$ 2.72 billion in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024-2031.


Regional analysis:
The North America region dominates the tinnitus management market currently due to high awareness among people and easily availability of treatment options. Europe is the second largest market and is expected to witness significant growth during the forecast period due to increasing approval of newer treatment products. The Asia Pacific region is expected to register the highest CAGR during the forecast period owing to large population base, increasing healthcare expenditure, and rising incidences of hearing impairment.

Key players:
Key players operating in the tinnitus management market are Otonomy Inc., Resound, GN Hearing, Widex AS, Neuromod Devices Ltd. Sound Pharmaceuticals, Inc., Merz Pharma, MicroTransponder Inc., Oticon Medical, and Sivantos Pte. Ltd.

Otonomy Inc. is actively involved in developing novel therapeutics for treating ear disorders like hearing loss and tinnitus. Resound and Widex AS are leading players for hearing aids offering devices facilitating sound therapy. Neuromod Devices Ltd. has developed tinnitus treatment device offering electrical stimulation of the tongue.

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