The global acoustic neuroma market size was estimated to be USD 1.47 billion in 2023 and is expected to reach USD 3.24 billion by 2034 with a CAGR of 7.43% during the forecast period 2024-2034. Increasing incidence and prevalence, advancements in diagnostic technologies, technological innovations in treatment modalities, awareness and early detection campaigns, collaborations and partnerships, and patient-centric care and support services: will drive the market growth.
The increasing incidence and prevalence of acoustic neuroma lead to market expansion. More instances may be detected as awareness grows and diagnostic technology improves, generating demand for diagnostic tools and treatments. Imaging technology developments, such as high-resolution magnetic resonance imaging (MRI), help to early and accurate diagnosis. This may raise the need for diagnostic instruments and hence the market size. For instance, in December 2023, Medtronic received FDA clearance for their StealthVizTM BrainPathTM navigation system with ClearSiteTM visualization technology, which improves surgeon vision during acoustic neuroma surgery.
By diagnosis, the magnetic resonance imaging segment accounted for the highest revenue-grossing segment in the global acoustic neuroma market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to advancements in imaging technology, leading to enhanced resolution and improved visualization of the tumor, surrounding structures, and associated neurological pathways. The increasing reliance on MRI for early detection and precise monitoring of acoustic neuromas, coupled with its pivotal role in guiding surgical interventions and treatment strategies, positions this segment for sustained growth. For instance, Stryker Corporation acquired Mobius Medical, a firm specialized in microvascular stents used in neurosurgery, in October 2023, potentially improving acoustic neuroma surgery with enhanced blood flow preservation.
By treatment type, the surgery segment accounted for the highest revenue-grossing segment in the global acoustic neuroma market in 2023 owing to the demand for surgical interventions driven by the effectiveness of surgical procedures in addressing acoustic neuromas. The surgery segment's prominence in revenue generation is attributed to the crucial role it plays in tumor removal, alleviating symptoms, and preserving neurological function. For instance, Elekta AB announced a cooperation with Insightec in September 2023 on research employing ExAblate® focused ultrasound technology for the treatment of acoustic neuromas, focusing on non-invasive solutions. Additionally, the radiation therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of radiation therapy as a viable and effective treatment option for acoustic neuromas, supported by advancements in technology, such as stereotactic radiosurgery and intensity-modulated radiation therapy (IMRT).
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global acoustic neuroma market in 2023 owing to the comprehensive healthcare infrastructure, specialized medical expertise, and centralized facilities that enable efficient diagnosis, treatment, and management of acoustic neuromas. For instance, Varian Medical Systems introduced HyperArcTM High-Dose Rate (HDR) brachytherapy for head and neck malignancies in June 2023, which might potentially be utilized to acoustic neuromas in the future. Additionally, the specialized clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend towards specialized and focused healthcare services, with dedicated clinics playing a pivotal role in delivering specialized care for the diagnosis, treatment, and management of acoustic neuromas.
North American region is anticipated for the highest revenue share during the forecast period owing to the accessibility of cutting-edge diagnostic and treatment modalities, including advanced imaging technologies and state-of-the-art surgical and radiation therapy interventions. For instance, Accuray Incorporated received FDA certification in May 2023 for their CyberKnife® M6 system with increased motion control features, boosting accuracy for radiosurgery treatment of acoustic neuromas. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness of acoustic neuroma, improved healthcare infrastructure, and a rising focus on accessible and advanced medical treatments.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
The increasing incidence and prevalence of acoustic neuroma lead to market expansion. More instances may be detected as awareness grows and diagnostic technology improves, generating demand for diagnostic tools and treatments. Imaging technology developments, such as high-resolution magnetic resonance imaging (MRI), help to early and accurate diagnosis. This may raise the need for diagnostic instruments and hence the market size. For instance, in December 2023, Medtronic received FDA clearance for their StealthVizTM BrainPathTM navigation system with ClearSiteTM visualization technology, which improves surgeon vision during acoustic neuroma surgery.
By diagnosis, the magnetic resonance imaging segment accounted for the highest revenue-grossing segment in the global acoustic neuroma market in 2023 and is predicted to grow at the fastest CAGR during the forecast period owing to advancements in imaging technology, leading to enhanced resolution and improved visualization of the tumor, surrounding structures, and associated neurological pathways. The increasing reliance on MRI for early detection and precise monitoring of acoustic neuromas, coupled with its pivotal role in guiding surgical interventions and treatment strategies, positions this segment for sustained growth. For instance, Stryker Corporation acquired Mobius Medical, a firm specialized in microvascular stents used in neurosurgery, in October 2023, potentially improving acoustic neuroma surgery with enhanced blood flow preservation.
By treatment type, the surgery segment accounted for the highest revenue-grossing segment in the global acoustic neuroma market in 2023 owing to the demand for surgical interventions driven by the effectiveness of surgical procedures in addressing acoustic neuromas. The surgery segment's prominence in revenue generation is attributed to the crucial role it plays in tumor removal, alleviating symptoms, and preserving neurological function. For instance, Elekta AB announced a cooperation with Insightec in September 2023 on research employing ExAblate® focused ultrasound technology for the treatment of acoustic neuromas, focusing on non-invasive solutions. Additionally, the radiation therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of radiation therapy as a viable and effective treatment option for acoustic neuromas, supported by advancements in technology, such as stereotactic radiosurgery and intensity-modulated radiation therapy (IMRT).
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global acoustic neuroma market in 2023 owing to the comprehensive healthcare infrastructure, specialized medical expertise, and centralized facilities that enable efficient diagnosis, treatment, and management of acoustic neuromas. For instance, Varian Medical Systems introduced HyperArcTM High-Dose Rate (HDR) brachytherapy for head and neck malignancies in June 2023, which might potentially be utilized to acoustic neuromas in the future. Additionally, the specialized clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing trend towards specialized and focused healthcare services, with dedicated clinics playing a pivotal role in delivering specialized care for the diagnosis, treatment, and management of acoustic neuromas.
North American region is anticipated for the highest revenue share during the forecast period owing to the accessibility of cutting-edge diagnostic and treatment modalities, including advanced imaging technologies and state-of-the-art surgical and radiation therapy interventions. For instance, Accuray Incorporated received FDA certification in May 2023 for their CyberKnife® M6 system with increased motion control features, boosting accuracy for radiosurgery treatment of acoustic neuromas. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing awareness of acoustic neuroma, improved healthcare infrastructure, and a rising focus on accessible and advanced medical treatments.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Diagnosis, Treatment Type, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Acoustic Neuroma Market Report 2023 - 2034
Acoustic Neuroma Market Analysis & Forecast by Diagnosis 2023 - 2034 (Revenue USD Bn)
- Audiometry
- Electronystagmography
- Magnetic Resonance Imaging
- Others
Acoustic Neuroma Market Analysis & Forecast by Treatment Type 2023 - 2034 (Revenue USD Bn)
- Medicines
- Radiation Therapy
- Surgery
Acoustic Neuroma Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Specialized Clinics
- Others
Acoustic Neuroma Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Acoustic Neuroma Market: Diagnosis Estimates & Trend Analysis
8. Acoustic Neuroma Market: Treatment Type Estimates & Trend Analysis
9. Acoustic Neuroma Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Acoustic Neuroma Market
12. Europe Global Acoustic Neuroma Market
13. Asia Pacific Global Acoustic Neuroma Market
14. Latin America Global Acoustic Neuroma Market
15. MEA Global Acoustic Neuroma Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medtronic
- Stryker Corporation
- Siemens Healthineers
- Elekta AB
- Varian Medical Systems
- Accuray Incorporated
- GE Healthcare
- Koninklijke Philips N.V.
- Toshiba Medical Systems Corporation
- Brainlab AG
- Natus Medical Incorporated
- Micromar Indústria e Comércio Ltda.
- IntriCon Corporation
- Nexstim Plc
- Monteris Medical
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 1.47 Billion |
| Forecasted Market Value ( USD | $ 3.24 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
