Menieres Disease Treatment Market Overview

Global Menieres Disease Treatment Market 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.Menieres 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 Menieres disease, but certain treatments can help reduce the severity and frequency of vertigo episodes.

Menieres disease is a disorder of the inner ear that is characterized by hearing loss, vertigo, ringing in the ear (tinnitus), and a feeling of fullness and congestion in the ear.The key factors driving the market growth are the high prevalence rate of Menieres disease and government initiatives to create awareness regarding vestibular disorders in developed countries that 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 Menieres disease treatment market. The key factors driving the market growth are the high prevalence rate of Menieres disease and government initiatives to create awareness regarding vestibular disorders in developed countries that 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 Menieres disease treatment market.

Menieres 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 Menieres disease, but certain treatments can help reduce the severity and frequency of vertigo episodes.Factors such as the high prevalence rate of Menieres disease and government initiatives to create awareness regarding vestibular disorders in developed countries are driving the Menieres Disease Treatment Market . However, factors such as lack of awareness in developing countries, and adverse side effects of symptomatic treatments are hampering the growth of the Menieres disease treatment market. A strong pipeline focusing on developing a specific treatment for Menieres disease serves as an opportunity for the growth of the Menieres disease treatment market.

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Regional Analysis

Asia-Pacific is estimated to be the fastest-growing region in Menieres disease treatment market. The increasing prevalence of vestibular disorders in the region is blooming the growth of Menieres 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 Global Menieres Disease Treatment Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The European market holds the second-largest position in the global Menieres 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.

The Americas accounted for the largest share in 2018 in global Menieres disease treatment market. This is owing to the increasing prevalence of Menieres Disease in the US and the rising number of market players focusing on Menieres disease-specific treatment. Moreover, manufacturers such as Otonomy and Sound Pharmaceuticals, with a presence in the US, are focusing on developing drugs specific to Menieres disease. For instance, OTIVIDEX, by Otonomy, Inc. is a sustained-exposure formulation of the steroid dexamethasone for patients with Menieres disease and has completed the Phase 3 clinical trial. This adds to the growth of Menieres disease in the Americas region.

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.

Segmentation

The high prevalence rate of Menieres disease is one of the key factors driving market growth. Menieres disease is caused by a dysfunction of the semi-circular canals in the ear and can lead to vertigo, tinnitus, and progressive deafness. The growing cases of Menieres disease are generating the demand for treatment, which attributes to the growth of the Menieres disease treatment market globally. According to the Hearing Health Foundation, there were around 600,000 to 750,000 cases of Menieres disease in the US as of 2018 and over 45,000 to 60,000 new cases are diagnosed annually.

The Global Menieres 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. On the basis of end-user, the market has been segmented into hospitals and clinics, specialty centers, and others.

Additionally, the Hearing Health Foundation stated that 12 out of 1,000 people worldwide live with Menieres disease and an estimated 15 to 40 percent of patients are affected in both ears. Furthermore, according to the National Institute for Health and Care Excellence, the incidence rate in the UK is 13.1 per 100,000 people/year, with the diagnosis more common in women. This high rate of incidence of Menieres disease in the US and Europe is driving the growth of global Menieres disease treatment market.

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