When excessive cerumen causes pain, hearing loss or other symptoms, it must be removed. However, in the past 30 years, there has been little to no innovation in the field of earwax removal. While 1.2 billion people suffer from earwax impaction worldwide, cotton-tipped swabs which are the most common method used in our daily lives are condemned in Europe (by the British Society of Audiology) and in US (American Academy of Otolaryngology) as well as banned by the FDA for use in the Ear Canal. Cotton swabs and are planned to be banned in Europe by the end of 2019. There is a need for simple yet safe methods and a requirement to provide an alternative to the widely extended wrong use of cotton buds for earwax removal.
Since the creation of the company, EarWays Medical has been closely working with ENT specialists on the development of EarWay®. EarWay® is innovative: it is based on a unique patented- technology providing the only earwax removal method that uses a flexible helical open-profile to wrap the earwax instead of pushing it. EarWay® is efficient: the flexible neck allows for manoeuvring in three-dimensional space of the ear canal towards the earwax achieving an efficient (usually 100%) collection of the earwax at once. And EarWay® is safe: EarWay technology ensures safe and effective cerumen extraction, without harming the ear canal or eardrum.
According to the market study developed during phase 1, EarWay® is clearly superior to competing alternatives in term of safety but also easy to use. EarWay will mainly target the European and US markets, where, assuming a conservative 0.2% market uptake, EARWAYS Medical estimates sales of 732,291 units and €25.07 million revenues in the 3 years post-market launch (2022-2024). Beyond becoming an essential asset for the company´s growth and job creation (i.e. around 26 jobs created in 5 years), EarWay® will benefit the European and US societies offering the only safe and reliable solution to million people in need of accessible ear-care solutions.
