Transparency Market Research in its new report titled, “Otoscopes Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the otoscopes market. The TMR report anticipates that the improved preference for e-commerce platforms for the purchase of handheld diagnostic equipment and rise in awareness about severe ear and sinus infections will drive the otoscopes market during the forecast period i.e, 2018-2026. However, lack of awareness about pocket otoscopes in developing countries is projected to restrain the expansion of otoscopes market during the forecast period, says the report.
The report has segmented the global otoscopes market based on product, size, power source, light source, distribution channel, and region. In terms of product, the global otoscopes market is categorized into wall-mounted otoscopes, video otoscopes, and others. Among these, the video otoscopes segment is expected to expand at a significant CAGR between 2018 and 2026 due to it’s the efficient video recording feature of video otoscopes, their ability to link with printers to print the condition of tympanic membrane and eardrum, and rise in demand for them in developed countries.
On the basis of size, the global otoscopes market is classified into standard-sized otoscopes and pocket-sized otoscopes. Pocket-sized otoscopes are designed to be able to be carried inside the white coat of a physician. The head and handle of standard otoscopes are interchangeable, which is a major factor for the dominance of the standard otoscopes segment in terms of revenue in 2017.
Based on power source, the global otoscopes market is split into disposable battery-operated otoscopes, rechargeable otoscopes, and electric-powered otoscopes. Among these, the electric-powered otoscopes segment constituted a prominent market share in 2017, owing to the presence of a significant number of manufacturers of electric-powered otoscopes.
The rechargeable otoscopes segment is anticipated to account for a dominant market share by the end of 2026, as rechargeable otoscopes are mobile and can be carried anywhere and are cost-effective as compared to electric-operated otoscopes. On the basis of light source, the global otoscopes market is divided into light bulb and direct light. The light bulb segment can be further segmented into incandescent, xenon, halogen, and LED lights, while the direct light segment can be further divided into fiber optic and non-fiber optic. The quality of light visibility of the external auditory canal is enhanced with the help of direct light. Therefore, the direct light segment is expected to account for a significant market share during the forecast period.
On a geographical stand, the otoscopes market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a dominant market share in 2017, owing to increase in investments in medical diagnostic tools and rise in adoption of technological advancements in traditional otoscopes in the U.S.
The region is expected to lead the market during the forecast period, owing to the strategic presence of key companies in the U.S. and Canada. Europe is projected to be a prominent region of the market, owing to the emergence of local manufacturers in key countries of Europe. The market in Asia Pacific is likely to expand at a significant CAGR in the coming years, due improved distribution networks of otoscopes manufacturers in the emerging countries of the region. Some of the major players operating in the otoscopes market include Welch Allyn, American Diagnostic Corporation, Smith & Nephew plc, Olympus Corporation, Rudolf Riester GmbH, GPC Medical Ltd., Henry Schein, Inc., 3M, Bausch & Lomb Incorporated, GF HEALTH PRODUCTS, INC., and Spengler SA.
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