Global Meniere’s Disease Drug Market is expected to grow at a substantial CAGR in the forecast period of 2019-2026

Global Meniere’s Disease Drug Market is expected to grow at a substantial CAGR in the forecast period of 2019-2026

“Global Meniere’s Disease Drug Market”

A Report, titled “Global Meniere’s Disease Drug  Market” has been added to our repository. The report represents the current situation of the market based on in-depth analysis of all the major factors that are expected to impact its demand in the near future, it evaluates the state of the market by 2026. The report takes stock of the global market on the basis of its attractiveness as well as investment viability. It also offers quantitative and qualitative analysis of every feature of the market and catches the emerging industry trends. The aim of the report is to allow the readers to concentrate on the classifications on the basis of product qualifications, standing competitive landscape and the market’s incomes with profitability.

Global Meniere’s disease drug Market is expected to grow at a substantial CAGR in the forecast period of 2019-2026. The report contains data of the base year 2018 and historic year 2017. This rise in market value can be attributed to the high prevalence of hearing disorders and the lack of any approved treatment options. Rising investment in the research & development of treatments for Meniere’s disease is expected to drive the market.

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Global Meniere’s Disease Drug Market  ­By Type ( Classic, Vestibular and Bilateral), Mechanism of Action (Antihistamines, Benzodiazepines, Antinausea, Diuretics, Antibiotics, Steroids and Others), Drugs (Meclizine, Diazepam, Prochlorperazine, Hydrochlorothiazide, Gentamicin, Dexamethasone and Others), Devices (Hearing Aid, Meniett device), Treatment (Medications, Therapy or Hearing Aids, Surgery), Route of Administration (Oral, Intravenous, Intratympanic and Others), Distribution Channel (Online Pharmacy, Direct Tenders, Retailers and Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Geography (North America, Europe, South America, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Definition:  

Meniere’s disease is a disorder of inner-ear that typically affects one ear, inner ear is responsible for hearing and balance. This condition can cause vertigo, ringing in the ear (tinnitus), feeling of pressure in the ear, specific type of dizziness in which patient feel like spinning, hearing loss that comes and goes. This is a chronic condition and can lead to permanent hearing loss but treatments and lifestyle changes can help to control the symptoms.

According to the report of National Institute on Deafness and Other Communication Disorders of America, the prevalence of Meniere’s disease is high in America and around 615,000 Americans are suffering from Meniere’s disease and the number of patients increasing every year. Massachusetts Eye and Ear (An international center for treatment and research and a teaching hospital of Harvard Medical School) reported that approximately 60,000 new cases of Meniere’s disease are diagnosed annually.

Competitive Analysis:

Global Meniere’s disease drug market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Meniere’s disease drug market for Global Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Players:

The key market players in the global Meniere’s disease drug market are Abbott, Otonomy Inc., WellSpring Pharmaceutical Corporation, Sound Pharmaceutical, Jubilant Cadista, Auris Medical, Pfizer Inc, Sun Pharmaceutical Industries Ltd, Novartis AG, Abbott, Bayer AG, GlaxoSmithKline plc, Amneal Pharmaceuticals LLC., LUPIN, Sanofi, Solvay, XOMA and others.

Market Drivers

  • High prevalence of Meniere’s disease is driving the market growth
  • Increasing awareness of this disorder is another important factor for the market growth
  • Rising investment in the research & development for the treatments for this disease is expected to drive the market growth
  • Government initiative to increase awareness is elevating the market growth

Market Restraints

  • Lack of any approved drug or treatment option is restricting the market growth
  • Low healthcare expenditure in developing regions also acts as a market restraint
  • High cost of treatment for this disease can also hamper the market growth

Key Developments in the Market

  • In June 2019, Otonomy Inc. is developing Otividex drug for the treatment of Meniere’s disease which is under Phase 3 clinical trial, in November 2017 Otonomy Inc announced that the AVERTS-2 trial, conducted in Europe, achieved its primary endpoint (p value = 0.029) and Otividex demonstrated clinically significant treatment benefit for patients
  • In May 2018, FDA approved IDE study for the treatment of Meniere’s disease and intractable vertigo. In this study simultaneously labyrinthectomy and cochlear implantation can be done in unilateral Meniere’s disease  which further assists  in determining speech perception, localization and quality of life outcomes

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Segmentation: Global Meniere’s Disease Drug Market  

By Type

  • Classic
  • Vestibular
  • Bilateral

By Mechanism of Action

  • Anti-Histamines
  • Benzodiazepines
  • Antinausea
  • Diuretics
  • Antibiotics
  • Steroids
  • Others

By Drugs Type

  • Meclizine
  • Diazepam
  • Prochlorperazine
  • Hydrochlorothiazide
  • Gentamicin
  • Dexamethasone
  • Others

By Devices type

  • Hearing Aid
  • Meniett device

By Treatment Type

  • Medications
  • Therapy or Hearing Aids
  • Surgery

By Route of Administration

  • Oral
  • Intravenous
  • Intratympanic
  • Others

By Distribution Channel

  • Online Pharmacy
  • Direct Tenders
  • Retailers
  • Others

By End-Users

  • Hospitals
  • Homecare
  • Specialty Clinics
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Reasons to Purchase this Report

  • Current and future of global Meniere’s disease drug market outlook in the developed and emerging markets.
  • The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
  • Regions/Countries that are expected to witness the fastest growth rates during the forecast period.
  • The latest developments, market shares, and strategies that are employed by the major market players. 

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