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Tinnitus Drug Market 2020 Showing Tremendous Growth With Top Players like Sound Pharmaceuticals, Merz Pharma, Amneal Pharmaceuticals LLC

Tinnitus Drug Market is expected to grow at a substantial CAGR in the forecast period of 2019-2026. Vulnerable aging population as age related hearing loss is prone to developing tinnitus and prevalence of tinnitus population is the key factors to encourage the market growth.

Global Tinnitus Drug Market By Type (Subjective Tinnitus, Neurological Tinnitus, Somatic Tinnitus, Objective Tinnitus), Therapy Type (Cognitive Behavioral Therapy, Tinnitus Retraining Therapy), Treatment Type (Medication and Surgery), Drug Class Type (Antidepressant Drugs, Antianxiety Drugs), Route of Administration (Oral and Injectable), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends & Forecast to 2026

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Some of the major competitors currently working in the global tinnitus drug market are Pfizer Inc, Teva Pharmaceutical Industries Ltd, Mylan N.V., Sun Pharmaceutical Industries Ltd., Novartis AG, Mallinckrodt, Abbott, Bayer AG, GlaxoSmithKline plc, Sound Pharmaceuticals, Merz Pharma, Amneal Pharmaceuticals LLC, Zydus Pharmaceuticals, Inc, Lupin Pharmaceutical, Inc., Torrent Pharmaceuticals Ltd, AA Pharma Inc, Sanofi, Hikma Pharmaceuticals PLC and many others.

Market Definition: Tinnitus is defined as a condition in which person consciously perceives ringing sensation, buzzing, hissing, chirping or any other sounds ranging from any music to human voice. The condition is often worse when surrounding is not too loud.

According to the statistics compiled in the American Tinnitus Association, it was estimated the total population of tinnitus in the United States were over 45 million. The male population is affected more often than female. Exposure to loud workplace environment such as construction sites, glass making industries and transportation and prevalence of loud music lovers are the key factors for market growth.

Market Drivers                                 

  • Growing aging population as age related hearing loss is prone to developing tinnitus
  • Increase in cases of tinnitus population is driving the market growth
  • Increase of workers involved in loud workplace such as textile industries, glass making industries, mining and construction
  • Ongoing clinical trial studies being carried out by many pharmaceuticals industries

Market Restraints

  • Effective treatment is either unavailable or unaffordable
  • Patent expiry of major drugs and introduction of generic drugs of branded version is expected to restrain the growth if the market
  • Inadequate knowledge about tinnitus disease in some developing countries

Table of Contents:

  1. Introduction
  2. Market Segmentation
  3. Market Overview
  4. Executive Summary
  5. Premium Insights
  6. Global, By Component
  7. Product Type
  8. Delivery
  9. Industry Type
  10. Geography

10.1.    Overview

10.2.    North America

10.3.    Europe

10.4.    Asia-Pacific

10.5.    South America

10.6.    Middle East & Africa

  1. Company Landscape
  2. Company Profiles
  3. Related Reports

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Segmentation: Global Tinnitus Drug Market

By Type

  • Subjective Tinnitus
  • Neurological Tinnitus
  • Somatic Tinnitus
  • Objective Tinnitus

By Therapy Type

  • Cognitive Behavioral Therapy
  • Tinnitus Retraining Therapy

By Treatment

  • Medication
  • Surgery
    • Stapedotomy
    • Tympanosympathectomies

By Drug Class Type

  • Antidepressant Drugs
    • Clomipramine
    • Desipramine
    • Imipramine
    • Nortriptyline
    • Protriptyline
  • Antianxiety Drugs
    • Alprazolam
    • Clonazepam
    • Diazepam
    • Lorazepam

By Route of Administration

  • Oral
  • Injectable

 By End User

  • Hospitals
  • Homecare
  • Specialty Clinics
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Key Developments in the Market:

  • In June 2019, Otonomy Inc. initiated phase II trial for a lead candidate OTO-313. A sustained-exposure formulated of the N-Methyl-D-Aspartate (NMDA) receptor and antagonist gacyclidine for the treatment of tinnitus is expected to report the results in the first half of 2020. The development of OTO-313 addresses the new significant treatment options for tinnitus
  • In July 2016, Auris Medical received designation from the FDA for Keyzilen (AM-101), a NMDA receptor antagonist for the treatment of acute peripheral (inner ear) tinnitus. With this designation, sponsors are eligible to receive priority review which allows the sponsors to submit new drug applications facilitating the development and expediting the review process that is intended to treat patient suffering from tinnitus

Competitive Analysis:

Global tinnitus drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of tinnitus drug market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Reasons to Purchase this Report

  • Current and future of global tinnitus drug market outlook in the developed and emerging markets
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period
  • The latest developments, market shares, and strategies that are employed by the major market players

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Editor Details

  • Company:
    • CDN Newswire
Last Updated: 11-Nov-2020