Sep 17, 2019
Ill Effects of Self-medication Practices to Ramp up the Adoption of Earwax Removal Aids: Fact.MR
by Team Fact.MR
Earwax removal aids are the medical tools used to remove earwax caused due to excessive formation of cerumen. The earwax removal aid includes micro-suction device, earwax removal irrigation kits, earwax removal drops, earwax removal loops, earwax removal syringes, and portable ear cleaning devices.
According to the Fact.MR report, retail sales, especially in developing regions, is projected to show remarkable growth, due to easy availability of over-the-counter earwax removal aids.
The healthcare industry is consistently witnessing an uplift in the number of ENT surgeries every year, globally, due to rising prevalence of ENT-related disorder. Around 3-5% of ear disorders is because of earwax impaction. It is also due to the adoption of improper treatment method with self-analysis by the individual with earwax impaction. The traditional practices increase the disease morbidity, and at a certain point, it requires urgent medical attention. This is the major factor responsible for the growth of the earwax removal aid market.
Adult Age Group Remains the Target Population for Manufacturers
Use of earwax removal kits among adults are likely to grow in the coming years, as carelessness, and negligence of cerumen impaction symptoms along with high adoption of self-diagnosis treatment continue to increase the risk of infection, affecting the ear-health adversely. This has led to high usage of earwax removal aid among this age group.
Increasing Awareness in Social Media to Upsurge Treatment-seeking Population
Social media plays a vital role in raising awareness regarding ear-health among large number of population. With the significant development of digital platforms, a majority of the population have a YouTube channel or an Instagram account, thereby making it easy to raise awareness among wide range of population. Many people have uploaded their videos of going through an earwax removal process on YouTube and Instagram, which has millions of viewers. This trend of the social media platform has upsurge the awareness, and in turn, increased the treatment-seeking population.
Product Sales through Online Platforms to Boost the Market Growth
Sale of products through online platforms such as Amazon, Flipkart, eBay, and others are gaining momentum among manufacturers, and are expected to drive the demand for earwax removal aid devices. Also, costs of the earwax removal aids are very economical and many generic products are available in the earwax removal aids market. Moreover, the average selling price of the earwax removal aids is expected to decrease in the forecast period.
Usage of Earwax Removal Aid in Home Care Settings
The earwax removal aid is largely adopted in the home care settings, because it is easily available in drug stores, retail pharmacies, and online sales channels. Also, one can purchase the earwax removal aid over-the-counter. Due to self-diagnosis trend, many people prefer to use earwax removal aid at their home.
East Asia to Hold a Large Revenue Share in the Earwax Removal Aid Market
East Asia is expected to be the most prominent market in terms of market share in the earwax removal aid market, owing to large number of patients with cerumen impaction and availability of economical earwax removal aid product range. On the account of improved healthcare infrastructure and rising healthcare expenditure per capita, manufacturers are viewing developing countries in the Asia Pacific region from target market perspective.
According to the study, growth opportunities for the earwax removal aid market players are picking up the pace in the East and South Asia regions, owing to increasing patient pool suffering from earwax impaction. The availability of economical earwax removal aids coupled with increasing initiatives to raise awareness in schools and colleges regarding ear health provides an opportunity for the growth of earwax removal aid market.
FacT.MR business intelligence also underlines groundbreaking insights into the competitive scenario of the earwax removal aid market, along with highlights of manufacturers’ differential strategies. The earwax removal aid market is majorly covered by the local players. The key players’ operating in the earwax removal aid market will continue to focus on delivery of their products through various distribution channels and to spread the awareness among the population regarding ear hygiene. The adoption of these products is mainly due to brand recognition, cost-effectiveness, and availability, which strengthen the company’s product portfolio.
This study underlines key opportunities in the earwax removal aid market and is expected to grow at a CAGR of ~ 4%.