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Otoplasty Market Advancements by Major Applications, Trend Analysis and Research Report 2020, Forecast to 2023

Otoplasty refers to surgical and non-surgical procedures for correcting external ear deformities and defects. The defects may be of morphology and structure of the external ear such as a deformation, absent external ear, damage by trauma etc. Otoplasty corrects the defect or deformity of the external ear by procedures such as shaping or augmenting of the cartilaginous support framework of the pinna etc.

Market Overview

Considering all these factors, the market for otoplasty is expected to reach $ 1.2 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 6.5 % during 2017-2023.

The growing awareness and the availability of advanced products such as malleable and adjustable splints, tubings which can be adjusted for any size and shapes of the ear, are expected to make a positive impact on the market. The rising per capita income and the growing acceptance of the plastic and aesthetics surgeries across the globe will drive the future market. The critical market restraints are complications and discomfort associated with otoplasty, formation of abnormal scar tissue, distortion of the shape of the ear caused by overcorrection of deformed features and reappearance of ear protrusion. Generally insurance providers do not provide coverage for otoplasty which is the biggest economic constraint. Again, cosmetic otoplasty surgeries have almost no coverage. Most patients do not have a life threat from the deformity which leads to low number of patients than the actual potential of the surgery procedure.

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The market for devices is however fragmented with a large number of players of unknown origin operating in the segment. Thus, the market has a small profit margin which has constricted growth and thus there is high competition in the market.

Market Key Players:

Key players profiled in the report are Allergan, Sklar Surgical Instruments, Earfold, Invotec International, Inc., Phoenix medical systems pvt. ltd., EarBuddies and others.

12 Company Profile

12.1 ALLERGAN

12.1.1 Overview

12.1.2 Product Overview

12.1.3 Financials

12.1.4 Key Developments

12.2 SKLAR SURGICAL INSTRUMENTS

12.2.1 Overview

12.2.2 Product Overview

12.2.3 Financials

12.2.4 Key Developments

12.3 EARFOLD

12.3.1 Overview

12.3.2 Product Overview

12.3.3 Financials

12.3.4 Key Development

12.4 INVOTEC INTERNATIONAL, INC.

12.4.1 Overview

12.4.2 Product Overview

12.4.3 Financials

12.4.4 Key Developments

12.5 PHOENIX MEDICAL SYSTEMS PVT. LTD.

12.5.1 Overview

12.5.2 Product Overview

12.5.3 Financials

12.5.4 Key Developments

12.6 EARBUDDIES

12.6.1 Overview

12.6.2 Product Overview

12.6.3 Financials

12.6.4 Key Developments

12.7 Others

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Segments:

The global otoplasty market is segmented on the basis of otoplasty types, otoplasty surgical techniques, non-surgical otoplasty, devices and end users.

Based on otoplasty types, the market has been segmented as ear augmentation, ear reduction and ear pin back.

Based on the otoplasty surgical techniques, the market has been segmented as anti-helical fold manipulation, conchal alteration and correction of earlobe prominence.

Based on the non-surgical otoplasty, the market has been segmented as tissue molding and others. Based on the devices, the market has been segmented as ear-splint, tubing and others.

Based on the end users, the market has been segmented as hospitals and clinics, academics and research and others.

Regional Analysis

US accounts for the maximum market share due to favorable insurance penetration, excellent reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global otoplasty. Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region is expected to have the most future potential and it is estimated to be led by China and India. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The regions of Africa are expected to witness a moderate growth due to poor economic and political conditions and poor healthcare penetration

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Intended Audience

  • Global Otoplasty solutions, manufacturers & suppliers
  • Research and development (R&D) companies
  • Hospitals and clinics
  • Academic institutes and universities

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