Meniere’s Disease Treatment Market Size, Share, Industry, Forecast and outlook (2024-2031)

Meniere’s Disease Treatment Market is Segmented By Treatment Type(Medications, Noninvasive therapies and procedures, Middle ear injections, Surgery, Others), By Diagnosis (Hearing test, Balance tests, Other tests), By End-User (Hospital, Clinics, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Meniere Disease Treatment Market Overview

The Meniere’s Disease Treatment Market is growing at a high CAGR during the forecast period (2023-2030).

Ménière’s disease is a chronic disorder of the inner ear that affects both balance and hearing. It usually affects just one ear and can cause severe dizziness and a feeling of spinning (vertigo). This condition can also cause hearing loss and the sensation of ringing (tinnitus) and a feeling of fullness in the ear. No cure exists for Meniere's disease. Some treatments can help reduce the severity and frequency of vertigo episodes, including Medications, Middle ear injections, and surgery may be an option for people with Ménière’s disease if other treatments have not been effective, or if symptoms are severe.

As per DataM Intelligence, Meniere’s Disease Treatment Market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global Meniere’s Disease Treatment Market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. Meniere’s Disease Treatment Market in the United States and Canada produces the utmost share. Whereas the European Meniere’s Disease Treatment Market is projected to continue its presence globally during the period of 2023-2030.

Meniere’s Disease Treatment Market Scope

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Meniere Disease Treatment Market Dynamics

Advancement in the diagnosis of Meniere's Disease is expected to drive market growth.

VEMP testing (vestibular-evoked myogenic potentials) is a neurophysiological tool for evaluating saccule and utricle function. The saccular vestibular signals conveyed via the vestibulospinal tract are thought to be assessed by cervical VEMP (cVEMP). FVEMP (furosemide-loading VEMP), which is a cVEMP that rises 60 minutes after furosemide injection in MD patients, can also be used to measure saccule function. Moreover, The semicircular canals can be examined using a calorie test and a video-head impulse test (vHIT). Caloric testing focuses on horizontal semicircular canal function, whereas vHIT allows for high-frequency instrumental assessment of the vestibulo-ocular reflex in each of the six semicircular canals. Thus, from the above statements, the market is expected to drive market growth.

Restraint:

Lack of awareness among individuals, side effects of symptomatic treatments, and availability of alternative treatments are the factors the market is expected to hamper in the forecast period.

COVID-19 Impact on Meniere Disease Treatment Market

The COVID-19 pandemic has moderately impacted healthcare systems and the market. The present COVID-19 pandemic poses a considerable occupational hazard for physicians and paramedical workers because of the increased risk of exposure and infection to COVID-19 from aerosol and droplet contamination. Moreover, Physicians and paramedical workers in the ENT department, in particular, are always at risk of being exposed to COVID-19-infected outpatients with nasal and/or respiratory symptoms. Patients are likely to be exposed to the same danger. COVID-19 negative outpatients with vertigo/dizziness may be infected by COVID-19 positive nose and throat patients at the same outpatient clinic.

Additionally, the pandemic interrupts the supply chain and process. Many companies will vary to other geographic regions to ensure that products remain available and protect their supply chain. Thus, from the above statements, the market got affected, and it is expected to gain traction quickly with the resumption of the economic activities.

Meniere Disease Treatment Market Segment Analysis

Medications segment is expected to hold the largest market share in meniere’s disease treatment market

The medications segment is expected to dominate in 2021. Diuretics are the most commonly prescribed maintenance medications for Meniere's disease. Diuretics work by restricting the overproduction of fluid in the inner ear. Diuretics are long-term medications. They help reduce the number of vertigo attacks, and in some cases, they help stabilize hearing. For instance, Meclizine (Antivert or Bonine) is the most commonly prescribed medication for the control of vertigo. Dramamine, available over-the-counter, is milder but might also be effective. Therefore, it has increased the demand for the medication. Thus, from the above statements, the market segment is expected to hold the largest market share in the forecast period.

Meniere Disease Treatment Market Geographical Share

North America region holds the largest market share in the global meniere’s disease treatment market

In 2021, North America accounted for the highest revenue share. The increasing prevalence of Meniere's disease, rising geriatric population, well-established infrastructure, favorable reimbursement policies, and clinical trials conducted by the market players in the region are some of the factors the market is expected to boost in the forecast period. For instance, According to the National Institute on Deafness and Other Communication Disorders (NIDCD), approximately 615,000 in the United States have Ménière’s disease. It can develop at any age, but it most commonly appears between 40 and 60 years of age. In most cases, it only affects one ear.

Moreover, On June 08, 2020, Sound Pharmaceuticals announced that FDA allowed its pivotal Phase 3 clinical protocol for SPI-1005 in the Treatment of Patients with Meniere's Disease (STOPMD-3). It is the first Phase 3 study of an investigational new drug for the treatment of Meniere's Disease (MD), a neurotologic disease involving hearing loss, tinnitus, and dizziness. Thus, from the above statements, the North American region is expected to hold the largest market share in the forecast period.

Meniere Disease Treatment Market Companies and Competitive Landscape

Major key players in the meniere’s disease treatment market are Genentech, Inc., Hoffmann-La Roche, Inc., Teva Pharmaceuticals USA, Inc., Quagen Pharmaceuticals, Pfizer Inc., Thermo Fisher Scientific, MERCK & CO., Inc., Mylan Pharmaceuticals Inc., Jubilant Cadista Pharmaceuticals Inc. and Mayne Pharma Group Limited.                       

Genentech, Inc.:

Overview:

F. Hoffmann-La Roche Ltd is the parent company of Genentech Inc., a biotechnology company based in the United States that became a subsidiary of Roche in 2009. The company is dedicated to pioneering science to discover and develop medicines for people suffering from serious and life-threatening diseases. In the United States, Roche and Genentech merged their pharmaceutical operations. The Genentech campus in South San Francisco is now the headquarters for Roche's pharmaceutical operations in the United States. Genentech Research and Early Development is a separate entity within Roche. Roche Holding Ltd. owns 66 percent of Genentech but allows it to operate independently. Genentech discovers, develops, manufactures, and sells human pharmaceuticals to meet critical medical needs.

­Product Portfolio:

VALIUM (DIAZEPAM): It may reduce the spinning sensation and help control nausea and vomiting.