Pune, India — 03/14/2018 — Meniere's sickness is an ailment of center ear that causes vertigo, ringing sound inside the ear and hearing issues. In maximum of the cases this disease only influences one ear. Meniere's sickness can have an effect on everybody however the prevalence is on a higher side in human's elderly from 20-50. This is a chronic disorder however unique remedies can assist in minimizing the signs. The predominant causes of Meniere's sickness are hypersensitive reactions, bizarre immune response, genetic predisposition, viral infection, migraines, head trauma, and a few others. Approximately 90-95% of the patients manage their Meniere's disorder with medical management.
The Global Meniere's Disease Market is growing moderately and is expected to continue its growth during the forecast period. Global Meniere's disease market is expected to grow at the CAGR of ~5.4% during the forecast period and is estimated to reach USD 6380.3 million by 2023.
The prevalence and incidence of Meniere's disorder is growing. According to the country wide institute on deafness and other communication problems, there are round 615,000 Americas who are suffering from Meniere's disorder. This number is constantly developing every 12 months. In step with Massachusetts eye and ear (an international middle for remedy and studies and a coaching hospital of Harvard clinical school), approximately 60,000 new cases of this ailment are recognized yearly.
Organizations are operating in this disorder with the aid of investing in research and new product development that could therapy this disorder. Top pharmaceutical companies like f. Hoffmann-los Angeles Roche ltd, Novartis ag and Pfizer Inc. are exploring new options for the treatment of Meniere's disorder. Those organizations have already started scientific trials for this disease. US primarily based organization autonomy Inc. raised USD a hundred and fifteen million in 2014 for clinical trials for drug which could quiet the overexcitement of the signaling among nerve cells in the cochlea that is related to tinnitus. Otonomy Inc. is also trying out a steroid gel to deal with Meniere's disorder.
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Increasing awareness of this disorder is another important factor for the market growth. Some other factors such as technological advancement, introduction and rapid adoption of therapies are also leading the market growth. Increasing demand from emerging markets of Asia and Latin America are creating smooth path for the market growth.
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.
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.
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On the basis of end user, it is segmented into hospital and clinics, medical research centers, academic institutes, and others.
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