What is Meniere’s disease drug Market?
Meniere's disease is a rare condition that affects a patient's inner ear. It can cause dizziness, tinnitus, hearing loss, and a feeling of pressure deep in the ear. People with Meniere's disease usually experience these symptoms during sudden episodes, which usually last about two to three hours. The patient experiences frequent attacks of dizziness. However, with dizzy spells, permanent hearing loss and tinnitus continue to develop and worsen. Meniere's disease is an inner ear disorder that typically affects one ear. The inner ear is hereby responsible for the process of hearing and balance. This condition can cause dizziness, ringing in the ears (tinnitus), and pressure in the ears, a certain type of dizziness that makes the patient feel like they are twisting, hearing loss that comes and goes. This is a chronic condition and can lead to permanent hearing loss. However, treatments and lifestyle changes can help control symptoms. Dizziness is less common in later stages, while tinnitus and hearing loss often get worse, and the patient may have permanent balance and hearing problems. It is estimated that one in 1,000 people in the UK has Menière's disease.
The market study is being classified by Type (Classic, Vestibular and Bilateral), by Application (Hospitals, Homecare, Specialty Clinics and Others) and major geographies with country level break-up.
Abbott Laboratories (United States), Otonomy Inc. (United States), WellSpring Pharmaceutical Corporation (United States), Sound Pharmaceutical (United States), Cadista Pharmaceuticals Inc. (United States), Auris Medical Holding (Switzerland), Pfizer Inc. (United States), Prestige Consumer Healthcare, Inc. (United States), The Ear Company (Canada), Sun Pharmaceutical Industries Ltd (India), Novartis AG (Switzerland), Bayer AG (Germany), GlaxoSmithKline plc (United Kingdom), Amneal Pharmaceuticals LLC (United States) and LUPIN Limited (India) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sanofi (France), Solvay S.A. (Belgium) and Xoma Corporation (United States).
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Meniere’s disease drug market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Meniere’s disease drug market by Type, Application and Region.
On the basis of geography, the market of Meniere’s disease drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rise in Geriatric Population, Environmental Pollution, Noise Pollution
- Increase in the Changing In Lifestyle
- High Prevalence of Meniere’s disease is Driving the Market Growth
- Increasing Awareness of This Disorder Is another Important Factor for the Market Growth
- High Cost of Treatment for This Disease Can Also Hamper the Market Growth
- Lack of Any Approved Drug or Treatment Option Is Restricting 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
- Low Healthcare Expenditure in Developing Regions Also Acts As a Market Challenge
In June 2019, Otonomy Inc. developed the drug Otividex for the treatment of Menière's disease, which is in the clinical phase 3 study. In November 2017, Otonomy Inc. announced that the AVERTS-2 study conducted in Europe had met its primary endpoint (p-value = 0.029) and Otividex demonstrated clinically significant treatment benefit for patients
In May 2018, the FDA approved the IDE study for the treatment of Meniere’s disease and persistent dizziness. In this study, labyrinthectomy and cochlear implantation can be performed simultaneously in unilateral Meniere's disease, which further supports the determination of speech perception, localization, and the results of quality of life
Key Target Audience
Manufacturers of Meniere’s disease drug, Suppliers and Distributors of Meniere’s disease drug, End-Users, Potential Investors, Market Research Firms and Others
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