Acoustic Neuroma Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Acoustic Neuroma Market is segmented by Diagnosis (Audiometry, Electronystagmography, Magnetic Resonance Imaging, Others) Treatment Type (Drugs (Anticonvulsants, Corticosteroids, Others)), Radiation Therapy (Proton Therapy, Stereotactic Radiosurgery, Others)) , End Users (Hospitals, Clinics, Other End Users ), Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.

Market Snapshot

Acoustic Neuroma Market Overview
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 7.3 %
Acoustic Neuroma Market Major Players

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Market Overview

The Acoustic Neuroma Market is expected to register a CAGR of 7.3% over the forecast period 2022-2027.

The outbreak of coronavirus disease had a significant impact on Acoustic Neuroma management and the market. The article “The COVID-19 Status of Patients Is an Essential Determinant for Decision-Making by Radiation Oncologists: A European Survey” published in March 2022, by Cureus Journal, points out how the pandemic affected patients with Acoustic Neuroma and their delayed response to radiotherapy treatments. 32% of patients preferred delaying radiotherapy treatments for COVID-19-negative patients with benign brain tumors such as grade 1 meningioma or acoustic neuroma, compared to 60.7% for COVID-19-positive patients. This in turn affected the patient’s quality of life and compliance with the treatments available on the market.

Further, the prevalence of acoustic neuroma and recent developments in the disease area fuel the market to grow. The article “Global Incidence of Sporadic Vestibular Schwannoma: A Systematic Review” published in the Otolaryngology–Head and Neck Surgery journal in 2021, reveals that recent international incidence rates of sporadic vestibular schwannoma have been found to be up to 5-fold higher than the generally cited "1 per 100,000" number in all age groups, and up to 20-fold higher in the most vulnerable age groups. According to current incidence rates, the lifetime risk of acquiring sporadic vestibular schwannoma is estimated to be greater than 1 in 500 people.

Increased research and development in the field of acoustic neuroma bring attention to the importance of the treatment of the disease. According to the news article published in Science Daily in December 2021 says that drugs developed to treat AIDS and HIV can be used in patients diagnosed with the most common form of primary brain tumors such as meningioma and acoustic neuroma brain tumors (also known as schwannoma). The researchers found several drugs that target HERV-K proteins which were present in meningioma and schwannoma cells, reducing the growth of schwannoma and grade I meningioma cells in the laboratory.

Furthermore, market players are engaged in marketing tactics such as mergers and acquisitions, as well as product launches for instance In May 2022, Elekta announced the acquisition of Özyürek Mümessillik ve Dış Ticaret A.Ş. (Özyürek A.Ş.), a long-time partner and Turkish distributor of neurosurgery solutions. The acquisition will shape the future of radiation therapy through research and product development relations. One of the most common types of cancer in the world is nervous system cancer. Leading healthcare centers across the world select Leksell Gamma Knife for its precision and demonstrated outcomes in treating these tumors and other brain diseases. The sixth generation of Elekta's Leksell Gamma Knife system, the Leksell Gamma Knife IconTM, can treat nearly any target in the brain, regardless of kind, location, or amount.

As a result of the reasons outlined, the explored market is anticipated to grow throughout the analysis period. However, the lack of skilled technicians restrains the acoustic neuroma market growth.

Scope of the Report

As per the scope of the report, acoustic neuroma/ vestibular schwannoma is a non-cancerous tumor that is basically slow growing on the primary (vestibular) nerve that connects the inner ear leading from the inner ear to the brain. The Acoustic Neuroma Market is segmented by Diagnosis (Audiometry, Electronystagmography, Magnetic Resonance Imaging, Others) Treatment Type (Drugs (Anticonvulsants, Corticosteroids, Others)), Radiation Therapy (Proton Therapy, Stereotactic Radiosurgery, Others)) , End Users (Hospitals, Clinics, Other End Users ), Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments. The report offers the value (in USD million) for the above segments.

By Diagnosis
Audiometry
Electronystagmography
Magnetic Resonance Imaging
Others
By Treatment Type
Drugs
Anticonvulsants
Corticosteroids
Others
Radiation Therapy
Proton Therapy
Stereotactic Radiosurgery
Others
By End-User
Hospitals
Clinics
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of World

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Key Market Trends

Stereotactic Radiosurgery is Expected to Witness a Positive Growth Over the Forecast Period

Stereotactic radiosurgery is a minimally invasive surgical procedure that uses a three-dimensional coordinate system to detect small targets within the body and conduct actions such as ablation, biopsy, lesion, injection, stimulation, implantation, radiosurgery, and other procedures on them.

The article “Evolution in Surgical Treatment of Vestibular Schwannomas “ published in 2021, in Current Otorhinolaryngology Reports explains that despite significant advancements in acoustic neuroma radiation treatment, surgery remains the primary treatment option for the vast majority of cases in order to achieve disease cure, long-term tumor control, and long-term preservation of cranial nerve function.

The article published in December 2021 PubMed under the title “Tumor Control Following Stereotactic Radiosurgery in Patients with Vestibular Schwannomas - A Retrospective Cohort Study” shows that after primary Stereotactic Radiosurgery majority of patients show control in vestibular schwannoma/acoustic neuroma progression. It demonstrates the benefit of surgery over radiation therapy in the treatment of acoustic neuroma.

As a result of the aforementioned factors, the Stereotactic Radiosurgery segment is predicted to develop significantly throughout the forecast period.

Acoustic Neuroma Market Trends

North America is Expected to Lead the Acoustic Neuroma Market

In 2021, North America held most of the market share for Acoustic Neuroma. Increased prevalence of acoustic neuroma and more investment in research and development to bring new technologies to market are expected to boost North America’s market. According to the clinical trial conducted in 2021 “Auditory Nerve Test System During Vestibular Schwannoma Resection (ANTS) “funded by the Washington University School of Medicine explains as, The Auditory Nerve Test System (ANTS) a device that stimulates the auditory nerve in the same way that a cochlear implant does. The goal of this study is to show that the Auditory Nerve Test System can be used during translabyrinthine surgery to remove vestibular schwannomas. Patients who have a vestibular schwannoma and asymmetric sensorineural hearing loss will receive a cochlear implant at the same time if the auditory nerve is preserved.

Key product releases and the presence of manufacturers in the country are all factors that have contributed to the growth of the acoustic neuroma market. According to the press release on February 2021, researchers from Fujitsu and the University of Toronto have developed quantum-inspired technology to help doctors better plan radiation treatments for brain tumors and other diseases. The technology is for dramatically speeding up the creation of radiation treatment plans for Gamma Knife radiosurgery. Radiation therapy using the Gamma Knife is used to treat disorders such as brain tumors and arteriovenous malformations. The traditional approach of establishing treatment plans is frequently tedious and time-consuming. The new technology will overcome this and will provide a better plan for radiation therapy and related dosing.

As a result of the preceding reasons, the studied market is expected to increase in the North American area.

Acoustic Neuroma Market Analysis

Competitive Landscape

The acoustic neuroma market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. Amgen, Roche, Natus Medical Incorporated, Elekta, and Pfizer Inc. among others.

Recent Development

In May 2022, Elekta announced a ten-year strategic partnership, research and development alliance between The Netherlands Cancer Institute to provide patients with cutting-edge cancer treatment and collaborate on developing the next generation of radiation therapy options. Elekta and the Netherlands Cancer Institute will pool their resources, expertise, and resources to improve Elekta's Unity and linac solutions in areas such as imaging, personalized and adaptive radiotherapy, novel treatment delivery approaches, artificial intelligence, and software solutions for improved workflow and decision support. 

In April 2021, Vysioneer, the leader in Artificial Intelligence (AI) for cancer care announced that VBrain, the AI-powered tumour auto-contouring system, has been approved by the United States Food and Drug Administration (FDA). VBrain improves the precision of radiation and reduces the time it takes for patients to get treatment. Before the United States Food and Drug Administration approved VBrain, it was tested at a number of locations around the United States and Taiwan. Brain metastasis, meningioma, and acoustic neuroma are the three most prevalent forms of brain tumours that can be treated by auto-contouring.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence of Acoustic Neuroma

      2. 4.2.2 Growth in research and development in the field of Acoustic Neuroma

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Skilled Technicians

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Diagnosis

      1. 5.1.1 Audiometry

      2. 5.1.2 Electronystagmography

      3. 5.1.3 Magnetic Resonance Imaging

      4. 5.1.4 Others

    2. 5.2 By Treatment Type

      1. 5.2.1 Drugs

        1. 5.2.1.1 Anticonvulsants

        2. 5.2.1.2 Corticosteroids

        3. 5.2.1.3 Others

      2. 5.2.2 Radiation Therapy

        1. 5.2.2.1 Proton Therapy

        2. 5.2.2.2 Stereotactic Radiosurgery

        3. 5.2.2.3 Others

    3. 5.3 By End-User

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Rest of World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 F. Hoffmann-La Roche AG

      2. 6.1.2 Elekta

      3. 6.1.3 CIVCO MEDICAL SOLUTIONS

      4. 6.1.4 Novartis AG

      5. 6.1.5 Pfizer Inc.

      6. 6.1.6 Amgen

      7. 6.1.7 MAICO Diagnostics GmbH

      8. 6.1.8 Siemens Healthcare GmbH

      9. 6.1.9 Interacoustics A/S

      10. 6.1.10 Natus Medical Incorporated

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Acoustic Neuroma Market market is studied from 2019 - 2027.

The Global Acoustic Neuroma Market is growing at a CAGR of 7.3% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Elekta, Natus Medical Incorporated, Amgen, Pfizer Inc., F. Hoffmann-La Roche AG are the major companies operating in Global Acoustic Neuroma Market.

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