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Global Wireless Digital Otoscope Market Size, Trends & Analysis - Forecasts to 2026 By Component (Measuring Device, Otoscope Camera & Other Accessories and Video Monitoring App), By Application (Diagnosis and Surgical), By End-User (Hospitals, ENT Clinics and Home Healthcare Settings), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis
An otoscope is a clinical gadget that is utilized to investigate the physiology of ears. Doctors and specialists use otoscopes to evaluate for ailment during infection and to examine ear-related diseases and possible symptoms. An otoscope conceivably gives a perspective on the tympanic layer or eardrum and ear canal. The market has recently witnessed the rising use of wireless digital/ smart otoscope which is an emerging technology and the advanced version of the traditional otoscope. Such wireless device used by doctors and specialties has helped in the quicker diagnosis of the patient's tympanic membrane and external auditory canal and diagnose the root cause of the infection or related disease. Also, such device used for home care setting has become a boom for the doctors who can remotely monitor the physiology of the ear of their adult and pediatric patients. A connected app helps to transform the data from one device to another. This app captures the physiological condition via a video. Due to the hard-hit of the pandemic, most hospitals have stopped or limited the routine otolaryngology services for OPD patients across the globe and have retained only COVID-19 and emergency cases. Hence, the use of wireless otoscopes has increased since the trend of the hospital-doctor visit has shifted to home healthcare service/ self-routine check-up. Wireless digital otoscope comes with a connected app, video recording camera, and measuring device to monitor the tympanic membrane. These devices are smart-phone enabled and require a Bluetooth/Wi-Fi connection in order to store and share health data. Most of the players offering otoscopes have now entered the market to launch digital and smart otoscopes. For instance, Firefly Global’s DE550 Wireless Digital Video Otoscope is a specific type of otoscope that has an in-built video camera to record the physiology of the ear and is combined with ultra-bright LEDs and a high magnifying lens. These accessories help to generate a good image quality and render patient data efficiently. The wireless digital otoscope’s market is closely related to the medical videoscope segment of the healthcare industry. With the growing technological advancements in the medical videoscope segment, the market for digital otoscopes will also grow during the forecast period. Affordable medical device cost, rising demand for patient centric healthcare service, and rising focus on non-invasive medical diagnostics have driven the companies to launch painless wireless otoscopes. Moreover, maintenance of patient data, rising stress to reduce patient visits to hospitals and clinics will help this market grow from 2021 to 2026. Also, the increasing prevalence of ENT-related diseases, hearing loss cases, ear infections, and otitis media will help the market growth positively. For instance, as indicated by World Health Organization, as of 2019, roughly 1.1 billion children have hearing problems. The key companies offering such devices are Firefly Global, Hein, Riester, and Welch Allyn.
Based on the type of component or parts of the product, the market can be segmented into measuring devices, otoscope cameras, and other accessories and video monitoring app. The measuring device will hold the largest position in the market as per the market value/ revenue. The rising demand for the non-invasive and home-based medical diagnosis will propel the demand for wireless otoscope devices or measuring devices. However, the otoscope camera market will be growing fastest in the market.
The market can be segmented into surgical and diagnostic use. The diagnostic application segment will be the largest as compared to the surgical segment. With the rising burden of otitis media and ENT diseases, the market will witness a rise in the diagnostic use of an otoscope.
Based on customer/ end-user analysis, the market is split into hospitals, ENT clinics, and home healthcare settings. The home healthcare setting will be the largest end-user for this market. This trend is expected to be constant from 2021 to 2026. Because of the high portability and ease of use by patients themselves, the market for remote monitoring in home care settings is ought to be the largest.
As per the geographical analysis, the market can be classified into North America (the US, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa and Central South America. Owing to new product launches and technological advancements witnessed in the US and Canada, the market for North America will be dominant throughout the forecast period. Moreover, due to the supportive reimbursement scenario for medical devices, high awareness amongst medical workers in regards to bedside patient-centric medical devices, the market for North America will always dominate the market. Also, post the COVID-19 norms of priority treatment, the market of APAC is witnessing a gradual shift from clinic-based treatment to home-based treatment. This factor can pose as an opportunity for this market to grow rapidly during the forecast period. However, due to the rising disease burden related to the ear, the market for the Asia Pacific will be on the rise. APAC will have the highest CAGR in the market as compared to other regions. However, lack of awareness and unsupportive claim norms for using such devices will pose a challenge for the APAC market to grow from 2021 to 2026.
FireFly Global, Heine, LHMed Medical Instruments, INVENTIS SRL, Riester, Welch Allyn, Depstech, Anykit, Teslong, Advanced Monitors Corporation, Apple BioMedical, GlobalMed, Interacoustics, MedRx, Natus Hearing & Balance, orlvision, PhotoniCare, PROVIX, Spirit Medical, SyncVision Technology, Videomed, Visionflex, and SensLite Corporation among others are the players in the wireless digital otoscope market.
Please note: This is not an exhaustive list of companies profiled in the report.
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The Global Wireless Digital Otoscope Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Wireless Digital Otoscope Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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