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Pre & Post COVID-19 Impact Analysis on Global Meniere's Disease Drug Market 2020 | Major Players are Abbott, Otonomy Inc., WellSpring Pharmaceutical Corporation, Sound Pharmaceutical, Jubilant Cadista
Global Meniere's disease drug Market
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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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.
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
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 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.
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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
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
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
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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Summary
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