Global Acoustic Neuroma Market Report 2024

The acoustic neuroma market size has grown strongly in recent years. It will grow from $1.7 billion in 2023 to $1.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period can be attributed to several factors, including advancements in imaging technologies, surgical innovations, increased awareness and screening programs for acoustic neuroma, economic factors influencing healthcare access, and regulatory approvals for treatment modalities.

The acoustic neuroma market size is expected to see strong growth in the next few years. It will grow to $2.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The forecast period's growth is expected to be driven by technological advancements in diagnostic and treatment approaches, the emergence of personalized medicine tailored to individual patient needs, increased healthcare spending globally, evolving patient preferences and demands for improved healthcare services, and ongoing development of healthcare infrastructure. Anticipated trends in the forecast period encompass rising incidence rates of acoustic neuroma, continuous technological innovations in diagnostic and treatment modalities, expansion of the market for acoustic neuroma treatments, collaborative research initiatives among healthcare stakeholders, and advancements in treatment modalities aimed at improving patient outcomes.

The surge in investment in the healthcare sector is anticipated to drive the growth of the acoustic neuroma market. The healthcare sector encompasses a broad range of services and facilities aimed at promoting health, providing medical care, and improving overall well-being for individuals and populations. Increased investment in healthcare is driven by various factors, including rising demand, technological innovation, regulatory changes, and global health challenges. These investments support advancements in diagnostics and treatments for conditions such as acoustic neuroma, ultimately enhancing patient outcomes and quality of life. For example, data from the Centers for Medicare & Medicaid Services (CMS) in December 2023 indicated a 4.1% increase in healthcare spending in the U.S. in 2022, reaching a total of $4.5 trillion. Consequently, the growing investment in the healthcare sector is fueling the expansion of the acoustic neuroma market.

Key players in the acoustic neuroma market are focusing on developing innovative treatment options, particularly radiosurgery methods tailored for acoustic neuroma patients, to offer enhanced features and benefits. Radiosurgery methods for acoustic neuroma involve precisely delivering radiation to the tumor to destroy or shrink it while minimizing damage to surrounding healthy tissue. For instance, Elekta, a Swedish-based medical technology company, introduced Elekta Esprit in May 2022, an advanced radiosurgery system designed for high-precision stereotactic radiosurgery targeting brain tumors, vascular malformations, or functional disorders. Elekta Esprit provides clinicians with faster automated treatment planning, enabling more personalized and patient-friendly treatments with exceptional precision. This advanced system offers superior visualization, remote accessibility, and collaboration tools, allowing treatment teams to address even the most challenging targets with exceptional accuracy while ensuring a gentle, personalized approach to radiosurgery.

In March 2021, Fujifilm Corporation, a Japan-based imaging and information solutions provider, acquired Hitachi Ltd.'s diagnostic imaging business for JPY 179 billion ($1.14 billion). This acquisition bolstered Fujifilm's medical systems business, including orthopedic imaging equipment, by incorporating Hitachi's diagnostic imaging-related business, covering CT, MRI, X-ray, and ultrasound systems, which also included diagnostic equipment for acoustic neuroma.

Major companies operating in the acoustic neuroma market are Pfizer Inc, F. Hoffmann-La Roche AG, General Electric Company, Merck & Co. Inc., Sanofi S.A., AstraZeneca plc, Abbott Laboratories, Novartis AG, GSK plc, Medtronic plc, Canon Medical Systems Corporation, Toshiba Medical Systems Corporation, Amgen Inc., Siemens Healthineers, Teva Pharmaceuticals Industries Ltd, Olympus Corporation, Shimadzu Corporation, Varian Medical Systems, Elekta AB, Cochlear Limited, Brainlab AG, Natus Medical Incorporated, CIVCO Medical Solutions, Monteris Medical, BrainScope Company Inc.

North America was the largest region in the acoustic neuroma market in 2023. The regions covered in the acoustic neuroma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the acoustic neuroma market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Acoustic neuroma, also known as vestibular schwannoma, is a benign tumor that develops on the vestibular nerve, linking the inner ear to the brain and responsible for transmitting balance and hearing information. These tumors typically progress slowly and remain confined to their original location, manifesting symptoms such as hearing loss, tinnitus (ringing in the ear), dizziness, imbalance, facial numbness or weakness, and coordination difficulties.

The primary types of acoustic neuroma include unilateral vestibular schwannomas and bilateral vestibular schwannomas. Unilateral vestibular schwannomas refer to tumors that develop on one side of the vestibulocochlear nerve, affecting both hearing and balance functions. Treatment options encompass medications, anticonvulsants, radiation therapy, proton therapy, and stereotactic radiosurgery. Diagnosis typically involves magnetic resonance imaging (MRI), computed tomography scan (CT-scan), and hearing tests. End users involved in the management of acoustic neuroma include hospitals, clinics, and surgical centers.

The acoustic neuroma market research report is one of a series of new reports that provides acoustic neuroma market statistics, including acoustic neuroma industry global market size, regional shares, competitors with a acoustic neuroma market share, detailed acoustic neuroma market segments, market trends and opportunities, and any further data you may need to thrive in the acoustic neuroma industry. This acoustic neuroma market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The acoustic neuroma market consists of revenues earned by entities by providing services such as neurosurgery, hearing tests, auditory rehabilitation, and counseling and support services for patients and families. The market value includes the value of related goods sold by the service provider or included within the service offering. The acoustic neuroma market also includes sales of hearing aids, surgical instruments, balance therapy equipment, and assistive listening devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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