Future Growth of Meniere’s Disease Market | expected to reach $ 6380.3 million | Top Key Players - Auris Medical (Switzerland), Jubilant Cadista (US), Otonomy Inc.(US), Prestige Brands Holdings, Inc. (US), Sound Pharmaceuticals (US), The Ear Company (Ca

The global Meniere’s disease market has been evaluated as a moderately growing market and it is expected to continue growing in the near future. Increasing incidence of Meniere’s disease is the major driver for this market. Increasing funding for new drugs development and clinical trials are leading the market growth. Increasing awareness and adoption of new treatment options are also playing important role in the growth of global Meniere’s disease market.

The market for Meniere’s disease was around USD 4415.3 million in 2016 and is expected to reach USD 6380.3 million by 2023 which is a projected CAGR of 5.4%.

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Meniere’s disease is a disorder of middle ear that causes vertigo, ringing sound in the ear and hearing problems. In most of the cases this disease only affects one ear. Meniere’s disease can affect anyone but the prevalence is on a higher side in people aged from 20-50. This is a chronic disease but different treatments can help in minimizing the symptoms. The major causes of Meniere’s disease are allergies, abnormal immune response, genetic predisposition, viral infection, migraines, head trauma, and some others. About 90-95% of the patients control their Meniere’s disease with medical management.

The prevalence and incidence of Meniere’s disease is increasing. According to the National Institute on Deafness and Other Communication Disorders, there are around 615,000 Americas who are suffering from Meniere’s disease. This number is continuously growing every year. According to Massachusetts Eye and Ear (An international center for treatment and research and a teaching hospital of Harvard Medical School), approximately 60,000 new cases of this disease are diagnosed annually.

Companies are working on this disease by investing in research and new product development that can cure this disease. Top pharmaceutical companies like F. Hoffmann-La Roche Ltd, Novartis AG and Pfizer Inc. are exploring new options for the treatment of Meniere’s disease. These companies have already started clinical trials for this disease. US based company Otonomy Inc. raised USD 115 million in 2014 for clinical trials for drug that can quiet the overexcitement of the signalingbetween nerve cells in the cochlea that is linked to tinnitus. Otonomy Inc. is also testing a steroid gel to treat Meniere’s disease.

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Major players in Meniere’s disease market:

There are plenty of large and small market players which operate in this market: Auris Medical (Switzerland), Jubilant Cadista (US), Otonomy Inc.(US), Prestige Brands Holdings, Inc. (US), Sound Pharmaceuticals (US), The Ear Company (Canada), WellSpring Pharmaceutical Corporation (US) and others.

Regional Analysis:

Considering the global scenario of the Meniere’s disease market, there are four main regions, America, Europe, Asia Pacific, and Middle East & Africa.

America is the largest market for the Meniere’s disease. The Americas mainly include North America and Latin America. North America is holding the largest market share in which US is dominating this market. Some major factors like new product development and launches, rapid adoption of new therapies, and advanced healthcare facilities are driving the growth for North America Meniere’s disease market. European region is the second important market, especially West European countries are dominating this region. Eastern European countries are also showing significant growth in this market, Due to increasing awareness of the diseases, increasing spending on healthcare and related services, and government initiative to increase awareness as well as to provide affordable healthcare, Asia Pacific is witnessing rapid growth in this market. Talking about the market scenario of Middle East & Africa, Meniere’s disease, this region is expected to have limited growth. Developed Middle Eastern region is holding the largest market share while Africa region is growing steadily.

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