Global Acoustic Neuroma Market Expected to reach USD 70.36 Bn by 2031, Registering a CAGR of 27.30%
Category : Healthcare | Published Date : Oct 2024 | Type : Press Release
Acoustic Neuroma Market Scope & Overview:
In the newly published report Consegic Business Intelligence states that the Acoustic Neuroma Market size was valued at USD 1.80 Billion in 2023 and is projected to reach USD 3.22 Billion by 2031, growing at a CAGR of 7.5% from 2024 to 2031. Acoustic neuroma, or vestibular schwannoma, is a non-cancerous tumor affecting the nerve connecting the ear to the brain, impacting hearing and balance. Treatment options for this condition include surgical removal, radiation therapy, and observation, depending on the tumor size and symptoms, with hospitals and specialty clinics playing a vital role in treatment provision.
The report comprises the Acoustic Neuroma Market Share, Size & Industry Analysis, By Type (Unilateral and Bilateral), By Diagnosis (Magnetic Resonance Imaging (MRI), Computerized Tomography (CT), Audiometry, Electronystagmography (ENG), Others), By Treatment (Surgery, Radiation Therapy, Monitoring, Drug Therapy), By End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Research Institutes, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Acoustic Neuroma Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The increasing incidence of acoustic neuroma and advances in diagnostic imaging technologies are key market drivers, allowing for earlier and more accurate diagnoses that contribute to higher treatment demand.
Segmental Analysis :
Based on type, the market is segmented into unilateral and bilateral acoustic neuromas.
- Unilateral acoustic neuroma accounted for the largest market share in 2023, driven by its higher prevalence, as this type represents nearly 95% of all cases. Technological advancements in MRI imaging have also improved early diagnosis and treatment outcomes.
- Bilateral acoustic neuroma is expected to witness the fastest growth, primarily associated with neurofibromatosis type 2 (NF2). The increasing awareness and improved genetic testing for NF2 are supporting this segment's expansion.
Based on diagnosis, the market is divided into MRI, CT, audiometry, ENG, and others.
- MRI held the largest share of diagnostic methods in 2023 due to its high sensitivity in detecting even small tumors, making it the preferred tool for early diagnosis.
- Audiometry is anticipated to grow rapidly, as it provides an effective, low-cost solution for initial screening and monitoring of hearing loss associated with acoustic neuromas.
Based on treatment, the market is segmented into surgery, radiation therapy, monitoring, and drug therapy.
- Surgery accounted for the largest share in 2023, with techniques like microsurgery becoming the standard for larger or symptomatic tumors, owing to improved patient outcomes.
- Radiation therapy is projected to grow the fastest, with non-invasive methods like stereotactic radiosurgery (e.g., Gamma Knife) being increasingly chosen for smaller tumors and patients unsuitable for surgery.
Based on end-user, the market is segmented into hospitals, specialty clinics, ambulatory surgical centers, research institutes, and others.
- Hospitals held the largest market share in 2023 due to their comprehensive care options and access to advanced technology for diagnosis and treatment.
- Specialty clinics are expected to grow rapidly due to their personalized patient care and specialized focus on neurology and audiology.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America led the market in 2023, driven by advanced healthcare infrastructure and a high prevalence of the condition, especially in the U.S.
- Asia-Pacific is projected to witness the fastest growth, with improvements in healthcare infrastructure and rising awareness about neurological conditions across countries like China and Japan.
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2031 | USD 3.22 Billion |
| CAGR (2024-2031) | 7.5% |
| By Type | Unilateral, Bilateral |
| By Diagnosis | MRI, CT, Audiometry, ENG, Others |
| By Treatment | Surgery, Radiation Therapy, Monitoring, Drug Therapy |
| By End-User | Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Research Institutes, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Acoustic Neuroma Industry:
- Medtronic Plc (USA)
- Varian Medical Systems, Inc. (USA)
- Accuray Incorporated (USA)
- Stryker Corporation (USA)
- Carl Zeiss Meditec AG (Germany)
- Elekta AB (Sweden)
- GE Healthcare (USA)
- Siemens Healthineers (Germany)
- Hoffmann-La Roche Ltd. (Switzerland)
- Brainlab AG (Germany)
Recent Industry Developments :
- In June 2023, a clinical trial sponsored by the Medical College of Wisconsin was initiated to compare microsurgical resection with stereotactic radiosurgery for vestibular schwannoma, with 36 participants.
- In May 2022, Elekta launched the Elekta Esprit, a next-generation stereotactic radiosurgery system aimed at treating brain tumors non-invasively.
