Vertigo Treatment Market- Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Vertigo Treatment Market is Segmented by Type (Peripheral Vertigo and Central Vertigo), Treatment Type (Medication and Surgery), End Users (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report offers the value (USD million) for the above segments.

Market Snapshot

Vertigo Treatment Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: North America
Largest Market: Asia-Pacific
CAGR: 5.5 %

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Market Overview

The Vertigo Treatment Market is expected to grow at a registered CAGR of 5.5% during the forecast period (2022-2027).

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. Moreover, the COVID-19 pandemic affected the global economy and significantly impacted the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. According to the study titled "The Impact of the COVID-19 Pandemic on Follow-Ups for Vertigo/Dizziness Outpatients," published in the Ear Nose and Throat Journal in April 2020, when compared to the same period in 2019, the overall number of vertigo/dizziness outpatients declined by 44.6 % in 2020. Thus, declining patient visits to the hospital during COVID-19 hampered the Vertigo Treatment Market.

Factors such as an increase in the incidence and prevalence of peripheral etiologies of vertigo, an increase in the geriatric population, an increase in healthcare expenditure, and higher disposable income are likely to drive the worldwide vertigo market forward. According to the study titled "Benign Paroxysmal Positional Vertigo," published in the National Library of Medicine in January 2022, vertigo has a lifetime prevalence of 2.4% in the adult European population. It was shown to be more common in women than men, with 3.2% versus 1.6%, respectively. The one-year prevalence was found to be 1.6 %, while the one-year incidence was found to be 0.6%. Moreover, the annual incidence in Japan was between 10.7 and 17.3 per 100,000. Thus, with the rising prevalence of vertigo, the demand for its treatment is expected to increase and boost the market's growth.

Furthermore, the prevalence of vertigo rises with age, and elderly people account for most cases reported to doctors. Vertigo is the third most prevalent condition among people over 65. According to the study titled "Dizziness and Benign Paroxysmal Positional Vertigo Among Retirement Home Residents: A Cross-Sectional Descriptive and Interventional 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, the geriatric population is expected to rise; hence the demand for vertigo treatment is anticipated to drive the market over the forecast period.

Key companies 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 November 2020, Otonomy, Inc., a biopharmaceutical company dedicated to the development of innovative therapeutics for neurotology, provided updates regarding the statistical analysis plan for the ongoing Phase 3 trial of OTIVIDEX in Ménière's disease and outlined plans for a Phase 2 trial of OTO-313 in tinnitus.

Thus, all the aforementioned factors are expected to boost the market over the forecast period. However, ignorance of the symptoms and causes of vertigo restrains the market over the forecast period.

Scope of the Report

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 and Surgery), End Users (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East & 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
Surgery
By End User
Hospitals
Clinics
Others
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
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Peripheral Vertigo Segment is Expected to Hold Significant Market Share in the Process Component Segment

Peripheral vertigo is due to a problem in the part of the inner ear that controls balance. These areas are called the vestibular labyrinth or semicircular canals. The problem may also involve the vestibular nerve. It 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 the study titled "Update on Benign Paroxysmal Positional Vertigo," published in the Journal of Neurology in November 2021, 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. Thus, with the rising prevalence of peripheral vertigo, the demand for the treatment is expected to rise, thereby boosting the segment.

According to the ClinicalTrials.gov updates on April 2022, the study titled "AM-125 in the Treatment of Acute Peripheral Vertigo Following Neurosurgery (TRAVERS)" from Auris Medical AG under the phase II trials to evaluate AM-125 in the treatment of acute peripheral vertigo. Such development by key market players is anticipated to drive the market.

Thus, all the factors mentioned above are expected to boost the segment over the forecast period.

Vertigo treatment market

North America Holds a Significant Share in the Market and Expected to do Same during the Forecast Period

North America dominated the global 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 by Renata Palmeri, an annual incidence of 64 per 100,000 was documented in the United States. Furthermore, with each decade, this number increased by 38%, equating to over 200,000 new cases in the United States per year. Thus, the rising prevalence of vertigo in the United expected to boost the demand for vertigo treatment, thereby anticipated to drive the Market in the region.

However, the rising geriatric population is one of the contributing factors to the growth of the Market in the region. As per the U.S. Census Bureau, in June 2020, in the United States, there are more than 46 million older individuals aged 65 and up; by 2050, this number is predicted to rise to about 90 million. The number of older persons is expected to rise by over 18 million between 2020 and 2030. By 2030, one in every five Americans will be 65 or older.

Furthermore, rising research and development spending is anticipated to boost the Market. According to a report published in September 2021 by the Pharmaceutical Research and Manufacturers of America (PhRMA), in the last decade, biopharmaceutical companies invested more than a trillion dollars in research and development, including a record-breaking year in 2020 where PhRMA member companies invested about USD 91 billion in the research and development.

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 June 2021, Otolith Labs, a Washington, D.C.-based firm creating a medical device for vertigo sufferers, received millions in new funding from Mark Cuban, as well as significant regulatory support for the development of a vertigo treatment.

Thus, all factors mentioned above are expected to boost the market in the region over the forecast period.

Vertigo Treatment Market Analysis

Competitive Landscape

The vertigo treatment market is highly fragmented, and the major players have used strategies such as new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions to increase their foothold in this market. Some market players are Sensorion, Casper Pharma, Amneal Pharmaceuticals LLC, Epic Pharma, LLC, Endo Pharmaceuticals Inc, Novartis AG, Pfizer Inc, Vintage Labs, and Teva Pharmaceutical Industries Ltd.

Recent Developments

· In March 2022, Pfizer Inc. (NYSE: PFE) completed its acquisition of Arena Pharmaceuticals, a clinical stage company developing innovative potential therapies for treating several immuno-inflammatory diseases.

· In April 2021, Amneal Pharmaceuticals LLC completed its acquisition of a 98% interest in Kashiv’s wholly-owned subsidiary, Kashiv Specialty Pharmaceuticals, LLC (“Kashiv Specialty”).

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 Rise In Prevalence Of Vertigo Couple With Increase In Geriatric Population

      2. 4.2.2 Rise In Health Care Expenditure

    3. 4.3 Market Restraints

      1. 4.3.1 Ignorance Towards the Symptoms And Causes Of The Vertigo

    4. 4.4 Porter's Five Forces 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 Type

      1. 5.1.1 Peripheral Vertigo

      2. 5.1.2 Central Vertigo

    2. 5.2 By Treatment Type

      1. 5.2.1 Medication

        1. 5.2.1.1 Over-the-counter Drugs

        2. 5.2.1.2 Prescription Drugs

      2. 5.2.2 Surgery

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

      3. 5.3.3 Others

    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 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Sensorion

      2. 6.1.2 Casper Pharma

      3. 6.1.3 Viatris Inc

      4. 6.1.4 Amneal Pharmaceuticals LLC

      5. 6.1.5 Epic Pharma, LLC

      6. 6.1.6 Endo Pharmaceuticals Inc

      7. 6.1.7 Novartis AG

      8. 6.1.8 Pfizer Inc

      9. 6.1.9 Vintage Labs,

      10. 6.1.10 Teva Pharmaceutical Industries Ltd,

      11. 6.1.11 Zydus Cadila,

      12. 6.1.12 Lupin.,

      13. 6.1.13 Sagent Pharmaceuticals, Inc.,

    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 Vertigo Treatment Market market is studied from 2019 - 2027.

The Global Vertigo Treatment Market is growing at a CAGR of 5.5% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2021.

Viatris Inc., Sensorion, Epic Pharma, LLC, Pfizer Inc, Vintage Lab are the major companies operating in Global Vertigo Treatment Market.

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