Examination of internal cavities of the ear and analyzing their functioning is a primary task of audiologists. Otoscopes are devices that assist audiologists in performing functions such as examination of the ear canal and tympanic membrane. These devices provide magnification of the ear canal, which assists health care professionals in the analysis and diagnosis of ear-related problems. Otoscopes comprise a few diopters, an illumination system, and a magnification lens that allows close visual examination of the internal parts of an ear.
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Improved preference for e-commerce platforms for the purchase of handheld diagnostic equipment and rise in awareness about severe ear and sinus infections are key factors expected to boost the otoscopes market during the forecast period. However, lack of awareness about pocket otoscopes in developing countries is projected to restrain the expansion of otoscopes market during the forecast period.
The global otoscopes market can be segmented based on product, size, power source, light source, distribution channel, and region. Based on product, the global otoscopes market can be categorized into wall-mounted otoscopes, video otoscopes, and others. 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.
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In terms of size, the global otoscopes market can be 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.
However, rise in number of manufacturers of pocket otoscopes in key countries and introduction of pocket otoscopes with rechargeable batteries are expected to propel the expansion of the pocket otoscopes segment during the forecast period. Based on power source, the global otoscopes market can be categorized into disposable battery-operated otoscopes, rechargeable otoscopes, and electric-powered otoscopes.
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. In terms of light source, the global otoscopes market can be divided into light bulb and direct light.
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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. Based on distribution channel, the global otoscopes market can be classified into hospital pharmacy, retail pharmacy, and online pharmacy.
The hospital pharmacy generated significant revenue in 2017, due to a rise in patient pool for ear-related disorders, increase in use of otoscopes in pediatric offices and emergency rooms, and established market for wall-mounted otoscopes in multispecialty hospitals across the globe. The segment is estimated to maintain its leading position throughout the forecast period. However, increase in investment of key companies in e-commerce platforms is projected to augment the expansion of the online channel by the end of 2026.
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In terms of region, the otoscopes market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a dominant market share in 2017, due 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 anticipated to lead the market during the forecast period, due 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.
Prominent 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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