Global Meniere's Disease Drug Market Showing Growth With Top Players are Abbott, Otonomy Inc., WellSpring Pharmaceutical Corporation, Sound Pharmaceutical

Washington, May 08, 2020 --A new market study is released on Global Meniere's disease drug market with data Tables for historical and forecast years represented with Chats & Graphs spread through Pages with easy to understand detailed analysis. This Global Meniere's disease drug market report is delivered as the most relevant, unique, fair, and creditable global market research report to valuable customers and clients depending upon their specific business needs. It facilitates in adjusting the production depending on the conditions of demand which avoids wastage of goods. Market research reports like this Global Meniere's disease drug market surely helps to reduce business risk and failure. Major competitor strategies include but are not limited to new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions. Research and analysis is carried out with one step or the combination of several steps depending upon the client need and the business requirements. Leading competitors of 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

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.

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.

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: 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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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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