Vertigo Treatment Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Vertigo Treatment Market Analysis
The vertigo treatment market is expected to grow at a registered CAGR of 5.5% during the forecast period.
The outbreak of COVID-19 showed an impact on the vertigo treatment market because healthcare services were significantly reduced due to social distancing measures taken by governments across the globe. For instance, according to a study published in the Ear Nose and Throat Journal in April 2021, the total number of vertigo or dizziness outpatients decreased significantly during the early pandemic. Declining patient visits to the hospital during COVID-19 hampered the vertigo treatment market. However, as the pandemic has subsided, the studied market is expected to have stable growth during the forecast period of the study.
Factors such as an increase in the incidence and prevalence of peripheral etiologies of vertigo, an increase in the geriatric population and healthcare expenditure, and higher disposable income are likely to drive the worldwide vertigo market forward. For instance, according to a study updated by the NCBI in January 2022, vertigo has a lifetime prevalence of 2.4% in the adult European population and it was also shown to be more common in women than men, with 3.2% versus 1.6%, respectively. With the rising prevalence of vertigo, the demand for its treatment is expected to increase and boost the market's growth.
Furthermore, vertigo may intensify with age, and elderly people account for most cases reported to doctors. According to a study published in BioMed Central (BMC) Geriatric Journal in February 2022, vertigo affects roughly 30% of adults over the age of 65 and over 50% of those over the age of 85. The prevalence of vertigo among nursing home patients has increased to about 45% (peaking between 80 and 90 years of age). Thus, as the geriatric population is expected to rise; the demand for vertigo treatment is also anticipated to rise, which is expected to drive the market over the forecast period.
Key companies have employed strategies to gain a presence in this market, including new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions. For instance, in July 2022, Sound Pharmaceuticals enrolled the first patient in its phase 3 clinical trial involving SPI-1005 for the treatment of Meniere's Disease (STOPMD-3).
Ignorance of the symptoms and causes of vertigo restrains the market over the forecast period.
Vertigo Treatment Market Trends
This section covers the major market trends shaping the Vertigo Treatment Market according to our research experts:
Peripheral Vertigo Segment is Expected to Hold Significant Market Share Over the Forecast Period
Peripheral vertigo occurs due to a problem in the part of the inner ear that controls body balance. These inner ear areas are called the vestibular labyrinth or semicircular canals. Sometimes peripheral vertigo may also occur due to a problem in the vestibular nerve, which is the nerve between the inner ear and the brain stem. Peripheral vertigo is most often caused by a benign process, with benign paroxysmal positional vertigo (BPPV) being the most prevalent cause, and the rising prevalence of it is anticipated to drive the segment over the forecast period.
According to a study published in the Journal of Neurology in November 2021, benign paroxysmal positional vertigo (BPPV) is the most common cause of dizziness/vertigo worldwide, accounting for 24.1% of all hospital visits for dizziness/vertigo, with a lifetime incidence of 2.4%. Recurrences of BPPV are common, with a recurrence rate of 15-20% per year. Furthermore, according to an article published by PubMed Central in August 2021, peripheral vertigo is considered most common in benign paroxysmal positional vertigo, followed by Ménière disease and vestibular neuritis.
Furthermore, according to ClinicalTrials.gov updates on April 2022, Auris Medical AG is conducting phase II trials to evaluate AM-125 in the treatment of acute peripheral vertigo. The increasing clinical trials on peripheral vertigo by key market players are also anticipated to drive the segment growth.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the market due to a rise in the prevalence of vertigo, a growth in the elderly community, and a demand for ongoing innovation. The United States accounted for the maximum share in the region.
According to the article published in the National Library of Medicine in February 2022, benign paroxysmal positional vertigo has an annual incidence of 64 per 100,000 in the United States. Furthermore, with each decade, this number increases by 38%, equating to over 200,000 new cases in the United States annually.
Additionally, the rising geriatric population is one of the contributing factors to the growth of the market in the region, as vertigo is often associated with older age. According to data published by Statistics Canada in July 2022, it is estimated that around 7,330,605 people are aged 65 years or older in Canada, and this accounts for 18.8% of the total population.
Key firms have employed various techniques to gain a presence in this market, including new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions. For instance, in July 2022, Sound Pharma initiated enrollment in a pivotal phase 3 clinical trial of SPI-1005 for the treatment of hearing loss and tinnitus in Meniere's disease associated with vertigo.
Vertigo Treatment Industry Overview
The vertigo treatment market is highly fragmented, and the major players have used several strategies to increase their foothold in this market. Some market players are AdvaCare Pharma Amneal Pharmaceuticals LLC, Lupin, Epic Pharma, LLC, Pfizer Inc, and Teva Pharmaceutical Industries Ltd, among others.
Vertigo Treatment Market Leaders
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Viatris Inc.
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Epic Pharma, LLC
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Pfizer Inc
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Lupin
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AdvaCare Pharma
*Disclaimer: Major Players sorted in no particular order
Vertigo Treatment Market News
- In November 2022, Apollo launched a vertigo and balance disorder clinic in its hospital in Hyderabad, India. This is expected to grow the vertigo treatment in India.
- In March 2022, in collaboration with NeuroEquilibrium, Sri Ramakrishna Hospital launched a super-specialty dizziness and vertigo diagnosis and treatment center in Coimbatore, India.
Vertigo Treatment Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rise In Prevalence Of Vertigo Coupled With Increase In Geriatric Population
- 4.2.2 Rise In Health Care Expenditure
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4.3 Market Restraints
- 4.3.1 Ignorance Towards the Symptoms And Causes Of The Vertigo
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Peripheral Vertigo
- 5.1.2 Central Vertigo
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5.2 By Treatment Type
- 5.2.1 Medication
- 5.2.1.1 Over-the-counter Drugs
- 5.2.1.2 Prescription Drugs
- 5.2.2 Surgery
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5.3 By End User
- 5.3.1 Hospitals
- 5.3.2 Clinics
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Viatris Inc
- 6.1.2 Amneal Pharmaceuticals LLC
- 6.1.3 Epic Pharma, LLC
- 6.1.4 Pfizer Inc
- 6.1.5 Teva Pharmaceutical Industries Ltd,
- 6.1.6 Zydus Cadila
- 6.1.7 Sun Pharmaceutical Industries Limited
- 6.1.8 Cipla Inc.
- 6.1.9 RPG Life Sciences Limited
- 6.1.10 Prestige Consumer Healthcare Inc.
- 6.1.11 AdvaCare Pharma
- 6.1.12 Lupin
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vertigo Treatment Industry Segmentation
Vertigo is a medical disorder that causes a person to believe that they or the items around them are moving when they are not. Walking difficulties, sweating, and nausea are all common symptoms. Vertigo is the most common form of dizziness, and the cause of this condition could be peripheral or central. Peripheral vertigo is related to the inner ear problem, and central vertigo is related to the central nervous system.
The Vertigo Treatment Market is segmented by Type (Peripheral Vertigo and Central Vertigo), Treatment Type (Medication (Over-the-counter Drugs and Prescription Drugs) and Surgery), End Users (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.
| By Type | Peripheral Vertigo | |
| Central Vertigo | ||
| By Treatment Type | Medication | Over-the-counter Drugs |
| Prescription Drugs | ||
| By Treatment Type | Surgery | |
| By End User | Hospitals | |
| Clinics | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Vertigo Treatment Market Research FAQs
What is the current Global Vertigo Treatment Market size?
The Global Vertigo Treatment Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Global Vertigo Treatment Market?
Viatris Inc., Epic Pharma, LLC, Pfizer Inc, Lupin and AdvaCare Pharma are the major companies operating in the Global Vertigo Treatment Market.
Which is the fastest growing region in Global Vertigo Treatment Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Vertigo Treatment Market?
In 2024, the North America accounts for the largest market share in Global Vertigo Treatment Market.
What years does this Global Vertigo Treatment Market cover?
The report covers the Global Vertigo Treatment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Vertigo Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vertigo Treatment Industry Report
Statistics for the 2023 Vertigo Treatment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vertigo Treatment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
