Contact

Address
2597 Kerner Boulevard
San Rafael, CA
94901

Email
info@otogenix.com

Phone
(415) 729-9391

Info

OtoGeniX™, Inc. was formed by Sanovas, Inc. to commercialize core technologies that offer innovations for otorhinolaryngology science for diagnosis and treatment of head and neck diseases.

According to a recent report published by WHO (World Health Organization) 360 million people worldwide are presently victims of some audibility related disease. More than 32 million children are victims of deafness. Apart from this, a massive pool of an adult population of the world is also crippled by deafness. This population is swelling alarmingly every year in South-Asia, Asia-Pacific and sub-Saharan Africa, which is also promoting the prospects of the emerging otoscope market in these regions of the world.

The otoscopes and ophthalmoscopes are predominantly used by ENT specialists across the world for detecting any ENT related disease. Presently a population of 285million visually impaired adults and children are living in this world. The population is rising every day. The otoscope/ophthalmoscope market can fetch the direct benefits of this rise as they are most needed for diagnosing eye and ear related ailments.

Countries like India, China, Oman, Brazil, and Morocco are some of the nations living in the shadows of diseases like glaucoma. Over the years they have made several consorted efforts to eradicate the disease, but still, it is prevalent amongst a large population. The market is entirely untouched and mostly dominated by few domestic players, and it is definitely under the radar of some of the major players of the otoscope market. The US is not only one of the leading producers of otoscope devices, but it also caters to the demand of the vast global and local population. Statistics show that almost 37 million Americans are suffering from sinus-related diseases. Thus the US is one of the largest thriving otoscope markets of the world.

Otoscope market: Drivers

There are several key components which are driving the growth and expansion of the otoscope market. The prime factor which is pushing the growth of this industry is the overall development of the healthcare infrastructure. Apart from this, the steady rise of the ENT related diseases around the world is another significant reason which is multiplying the development of the otoscope markets spread across the globe. The significant economic rise of India in the recent past has had a positive effect on the entire healthcare market. The growing otoscope market in India is not only giving stiff competition to its western contenders, but it is also fulfilling the demands of the local and regional requirements through its domestic production.

Otoscope market: Restraints

The otoscope market is gaining pace every single day. The regional markets spread across the US, UK, Australia and New Zealand, India and China, Brazil, Morocco, Chile, Japan have performed well over the last few years. But the dominance of the big players based in the first world countries and the cloning of products in the Chinese and Indian otoscope markets are creating a massive gulf. It is also disturbing the uniformity of the otoscope market in the south East Asian regions and Latin American countries. 

Otoscope market: Key regions

The growth of the entire otoscope market is concentrated on some of the prime pockets. The market is mushrooming in regions like India, China, US, UK and several other Latin American countries where the spread of disease related to ENT are galloping with time. A massive chunk of the market production is consumed by the healthcare giants present in these regions. The ENT industry is booming in India, and it churns a few billion revenue from the different adjacent neighboring markets. The production is high and cost-effective which is also a major factor which is sustaining the players present in this segment in India.

Otitis Media and Myringotomy/PE Tubes and Otoscope Sales

  • 2.2 million children/year get otitis media with effusion (OME) costing $4B1
  • Otitis Media (acute + chronic) currently directly costs $7B annually, US
  • Over 10 million suffer from acute otitis media/year, US. If it persists, chronic otitis media develops2
  • 667,000 under 15 years of age get tubes each year, US.3
  • Average cost of PE Tube Placement is $2168 in ASC and $2710 in hospital4,5

GLOBAL OTOSCOPY MARKET REVENUE, BY GEOGRAPHY,
2011 – 2018 ($MILLION)5,6

Region

2011

2012

2013

2018

CAGR%

(2013-2018)

North America

157

163

169

214

4.8

Europe

103

106

109

131

3.7

Asia

92

96

100

131

5.5

Others

31

31

32

37

2.9

Total

383

396

411

512

4.5

 

OtoGeniX’s solutions improve the ability of clinicians and pre-hospital caregivers to perform minimally invasive procedures in the office setting and in the field. These capabilities represent an important advancement over existing procedures, making them safer and more effective.