Otoplasty market size is expected to reach USD 1.2 billion at a CAGR of 6.5 % during 2017-2023. The otoplasty market is driven by factors such as increased prevalence of congenital ear abnormalities such as Treacher Collins syndrome, hemifacial microsomia etc. Natural deformations and extremities such as bat ears, constricted ears, cryptotic ears, macrotic ears, question mark ears, and Stahl's ear deformity are also considered. Increased incidence of external ear trauma as a result of blasts, puncture, and damage caused by blunt objects are also significant drivers of the Otoplasty industry. The expanding impact of the media and fashion industries, together with increased prenatal screening for abnormalities, will push the otoplasty market. The increasing number of patients opting for cosmetic ear augmentation and the increased availability of surgical ear augmentation are also boosting the market during the study period.

The increased awareness of otoplasty and the availability of improved devices such as flexible and adjustable splints and tubings that can be modified to fit any ear size or shape are projected to benefit the market. Globally, increased per capita income and increasing acceptance of cosmetic and plastic surgery will boost the future demand for otoplasty.

Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/3979

The significant market restrictions are problems and discomfort associated with otoplasty, aberrant scar tissue formation, deformation of the ear shape caused by excessive repair of malformed features, and recurrence of ear protrusion. Generally, insurance companies do not pay otoplasty, which is the most significant cost constraint. Again, cosmetic otoplasty surgery is almost entirely uninsured. The majority of patients do not face a life-threatening deformity, which results in a lower patient volume than the procedure's true potential.

Segmental Analysis

The otoplasty market is categorized into kinds of otoplasty, surgical techniques for otoplasty, non-surgical otoplasty, equipment, and end users.

The market has been classified into three types of otoplasty: ear augmentation, ear reduction, and ear pin back.

The market has been split into three segments based on otoplasty surgical techniques: anti-helical fold manipulation, conchal change, and correction of earlobe prominence.

The market for non-surgical otoplasty has been split into tissue molding and others.

The market has been categorized by device type into ear splints, tubing, and others.

The market has been categorized by end users into hospitals and clinics, academics and research, and others.

Regional Overview

Increase in frequency of congenital ear deformity and increase in number of aesthetic surgical treatments is likely to drive the market in North America. The United States has the largest market share because to its high insurance coverage, favorable reimbursement environment, and higher healthcare expenditure.

The US market's rapid adoption of new technology is also a significant driver of the worldwide otoplasty industry. Europe is the second largest market, owing to its high per capita wealth and growing awareness. The Asia Pacific region is predicted to have the greatest future potential, driven by China and India.

The gulf countries, mainly Saudi Arabia and the United Arab Emirates, dominate the Middle East and Africa market. Africa's regions are predicted to grow slowly as a result of weak economic and political conditions and low healthcare coverage.

Competitive Dynamics

Allergan, Sklar Surgical Instruments, Earfold, Invotec International, Inc., Phoenix medical systems pvt. ltd., and EarBuddies are among the report's key players. The global otoplasty industry is extremely fragmented, with a few number of domestic competitors controlling a sizable portion of the market. The market is fragmented, with a huge number of businesses working in the industry that are of unknown provenance. As a result, the market has a low profit margin, which limits expansion, and as a result, there is intense rivalry in the industry.

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/otoplasty-market-3979

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com