(MENAFN- GetNews) Meniere's Disease Treatment Market Analysis By Key Players, Trends, Insights, Dynamics, Future Outlook, Applications and Segmentation, Forecast to 2025
Meniere's Disease Treatment Market Size, Share and Growth Analysis By Treatment (Drug, Injections, Positive Pressure Therapy, and Surgery), End-User (Hospital and Clinics, Specialty Centers) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Forecast till 2025
Meniere's Disease Treatment Market Highlights
Global Meniere's Disease Treatment Market size is expected to register a CAGR of 3.64% during the forecast period, with a market value of USD 1,527.23 Million by 2025. Meniere's disease is a disorder of the inner ear that can lead to vertigo, tinnitus, and progressive deafness. The disease can develop at any age, but most commonly appears between the age of 40 to 60 years and normally affects only one ear. There is no cure for Meniere's disease, but certain treatments can help reduce the severity and frequency of vertigo episodes.
Factors such as the high prevalence rate of Meniere's disease and government initiatives to create awareness regarding vestibular disorders in developed countries are driving the market growth. However, factors such as lack of awareness in developing countries, and adverse side effects of symptomatic treatments are hampering the growth of the Meniere's disease treatment market. A strong pipeline focusing on developing a specific treatment for Meniere's disease serves as an opportunity for the growth of the Meniere's disease treatment market.
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Meniere's Disease Treatment Market Segment Analysis
The Global Meniere's Disease Treatment Market is segmented into treatment and end-user. Based on treatment, the market has been segmented into the drug, injections, positive pressure therapy, and surgery. The drug segment has been further sub-segmented into anti vertigo drugs, diuretics and others. The injectables are further sub-segmented into steroid injections and gentamicin injections. The surgery segment is further sub-segmented into endolymphatic sac surgery, vestibular nerve section, labyrinthectomy and other. Based on end-user, the market has been segmented into hospitals and clinics, specialty centers, and others.
Meniere's Disease Treatment Market Regional Analysis
The Global Meniere's Disease Treatment Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas accounted for the largest share in 2018 in global Meniere's disease treatment market. This is owing to the increasing prevalence of Meniere's Disease in the US and the rising number of market players focusing on Meniere's disease-specific treatment. Moreover, manufacturers such as Otonomy and Sound Pharmaceuticals, with a presence in the US, are focusing on developing drugs specific to Meniere's disease. For instance, OTIVIDEX, by Otonomy, Inc. is a sustained-exposure formulation of the steroid dexamethasone for patients with Meniere's disease and has completed the Phase 3 clinical trial. This adds to the growth of Meniere's disease in the Americas region.
The European market holds the second-largest position in the global Meniere's disease treatment market due to the rising prevalence of hearing disorders and growing initiatives to create awareness regarding vestibular disorders are driving the market growth. For instance, German Center for Vertigo and Balance Disorders (DSGZ) started an initiative DIZZYNET to promote public awareness and help establish educational standards in the field of vestibular disorders.
Asia-Pacific is estimated to be the fastest-growing region in Meniere's disease treatment market. The increasing prevalence of vestibular disorders in the region is blooming the growth of Meniere's disease
treatment market. A majority of companies in Asia-Pacific are committed to investing in research and development of advanced treatments, which will ultimately boost the growth of the market.
The market in the Middle East & Africa is likely to exhibit the lowest growth owing to the limited access and availability of treatment facilities. Moreover, limited developments in technology may slow the market growth rate in this region.
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Meniere's Disease Treatment Market Key Players
MRFR recognizes the following companies as the Key Players in the Global Meniere's Disease Treatment Market
Sound Pharmaceuticals (US), LiNA Medical ApS (Europe), Wallace Pharma (India), Jubilant Cadista(US), Pfizer Inc. (US), Glenmark Pharmaceuticals (India), GlaxoSmithKline PLC (UK), WellSpring Pharmaceutical Corporation (US), Auris Medical (Bermuda), Otonomy, Inc. (US) and others.
Meniere's Disease Treatment Market Key Findings
The Global Meniere's Disease Treatment Market was valued at USD 1,191.50 Million in 2018, is estimated to grow at USD 1,527.23 Million by 2025 at a CAGR of 3.64% during the assessment period
America accounted for the largest share of the global market due to the presence of a large number of pharmaceutical companies such as Jubilant Cadista, Pfizer Inc., WellSpring Pharmaceutical Corporation, and others offering Meniere's treatment drugs
Based on treatment, the drug segment accounted for the largest market share in 2018
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