Tinnitus Management Market is likely to reach US$ 3.2 Billion by 2031 at a CAGR of 2.8%

A recent study by Future Market Insights (FMI) predicted that the global Tinnitus Management Market will expand sustainably over the forecast period. The market size is anticipated to increase at a CAGR of about 2.8% over the projection period, rising from US$ 2.5 billion in 2021 to more than US$ 3.2 billion by 2031.

Tinnitus is becoming more common, tinnitus treatments are becoming more technologically advanced, and big manufacturers are investing more in R&D. These are just a few of the factors affecting the market for tinnitus treatment.

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An ear buzzing or ringing is referred to in medicine as tinnitus. Tinnitus is commonly referred to as “ringing in the ears.” Both subjective and objective tinnitus are possible. Tinnitus that is objective is rare. The majority of tinnitus management products and medications sold worldwide are used to treat subjective tinnitus, which is fairly common.

The third most prevalent health issue among people worldwide is tinnitus. Around the world, 10%–15% of adults suffer persistent tinnitus that calls for medical attention. Over the forecast period, the market for tinnitus management will rise due to the rising prevalence of tinnitus. When creating products like invisible devices, cloud integration, Ai integration, and medicines with the fewest negative effects, manufacturers are putting more and more emphasis on quality, technology, and aesthetically pleasing characteristics. On the international market, this is anticipated to have a favorable effect.

Key Takeaways from Tinnitus Management Study

• By product, devices hold the maximum share of 93.8% in 2021, expanding at 2.9% CAGR during the forecast period.
• By indication, subjective tinnitus will account for 95.6% of the market share in 2021 exhibiting the highest demand.
• By distribution channel, audiology centers & ENT clinics together account for more than 60% of the market share in 2021.
• By region, North America held the largest share of 52.7% of the global tinnitus management market in 2021.

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“Technological improvements in tinnitus management devices will remain a priority for the market players. Apart from focus on innovations, market players are expected to aim at strategic collaborations to gain expertise and expand their product portfolio,” says the FMI Analyst.

Who is Winning?

The key market players covered by FMI include Signia, Starkey Hearing Technologies, Inc., GN Hearing A/S, Widex A/S, Oticon Inc., Neuromod Devices Ltd., Neuromonics Inc., Puretone, Inc., Pfizer Inc., Sanofi and GlaxoSmithKline.

Some of the leading manufacturers of tinnitus management market are focusing on product launch, collaboration, and partnership strategies for global expansion objectives, thereby, enhancing their market presence.

• In October 2020, Starkey and OrCam partner to provide groundbreaking assistive technology to hearing and visually impaired people.
• In March 2019, Sivantos Pte. Ltd., and Widex A/S, announced the successful completion of the business combination between Sivantos and Widex. The newly created company will operate under the name WS Audiology and be headquartered in Lynge, Denmark and Singapore.

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Tinnitus Management Market by Category

By Product:

• Devices
  • Sound Masking Devices
  • Notched Music Devices
  • Hearing Aids
• Drugs
  • Tricyclic Antidepressants
  • Antianxiety
  • Anticonvulsants

By Indication:

• Subjective Tinnitus
• Objective Tinnitus

By Distribution Channel:

• Audiology Centers
• ENT Clinics
• Hospitals
• E-Commerce

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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