New report from Globe Life Sciences identifies tinnitus to be an attractive but under-recognised commercial opportunity for pharmacotherapies to target
LONDON, April 24, 2019 /PRNewswire/ -- Globe Life Sciences, a leading provider of commercial analysis within the life sciences sector, conducted a detailed market assessment of tinnitus. The Globe Extraordinary report, entitled 'Hearing Disorders – Tinnitus: An Attractive But Untapped Opportunity', concludes that tinnitus is an under-recognised indication, but which possesses attractive commercial characteristics, presenting opportunities for a novel pharmacotherapy to target.
Tinnitus appears to have long been side-lined as a target indication, given that it is not a life-threatening hearing disorder and the notion that many patients are not bothered by it or could be managed with non-pharmacological approaches. In contrast to these perceptions, this assessment identified tinnitus to possess a number of appealing commercial features which could lead to a potentially sizeable market opportunity, even when considering just the subset of patients where the condition significantly impacts their quality of life.
This report provides an in-depth assessment of the tinnitus market based on detailed desk research and insight from 10 opinion-leading clinicians in the US and Europe. Globe Life Sciences has worked alongside Action on Hearing Loss, the UK's national charity for people confronting life-changing deafness, tinnitus and hearing loss, in developing this report.
Ralph Holme, Executive Director of Research at Action on Hearing Loss said: "Tinnitus is a condition that can have serious debilitating consequences for people who, on a daily basis, have to deal with the percept of a sound that does not have an external source. This ringing in the ears impacts all aspects of their lives, making it hard to concentrate at work and affecting their social life. There is a huge unmet need and demand amongst people with tinnitus for pharmacological therapies able to efficiently decrease or eliminate the perception of tinnitus. This market report is an important resource that compiles the current state of the market and identifies the commercial opportunities for companies interested in entering this therapeutic field."
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SOURCE Globe Life Sciences