Market Highlights
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%.
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.
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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.
Segmentation:
Global Meniere’s disease market has been segmented on the basis of diagnosis which comprise of hearing assessment, balance assessment, blood tests, imaging test, and others. Balance assessment is sub-segmented into Videonystagmography (VNG), Rotary-chair testing, Vestibular evoked myogenic potentials (VEMP) testing, posturography, Video head impulse test (vHIT), Electrocochleography (ECoG), and others. Imaging test includes Magnetic Resonance Imaging (MRI) and others.
On the basis of treatments, the market has been segmented into medication, noninvasive therapies & procedures, middle ear injections, surgery, and others. Medication is sub-segmented into motion sickness medications, anti-nausea medications, and others. Noninvasive therapies and procedures is further sub-segmented into rehabilitation, hearing aid, meniett device, and others. Middle ear injections is further sub-segmented into gentamicin, steroids, and others. Surgery is further sub-segmented into endolymphatic sac procedure, vestibular nerve section, labyrinthectomy, and others.
On the basis of end user, it is segmented into hospital and clinics, medical research centers, academic institutes, and others.
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