Market Analysis: Global Meniere's Disease Drug Market
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.
Market Definition: Global Meniere's Disease Drug Market
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.
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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
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
Segmentation: Global Meniere's Disease Drug Market
By Mechanism of Action
By Drugs Type
By Devices type
By Treatment Type
Therapy or Hearing Aids
By Route of Administration
By Distribution Channel
Rest of Europe
Rest of Asia Pacific
Rest of South America
Middle East & Africa
Rest of Middle East & Africa
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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
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.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technical Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
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