Vertigo Treatment Market: Increase in incidence of vertigo to drive the market
Vertigo is a medical condition, wherein a person feels he or she or the objects around are moving when they are not. The condition is often related to walking impairment, sweating, and nausea. Vertigo is the most common form of dizziness and the cause of this condition could be peripheral and central. Peripheral vertigo is related to the inner ear problem and central vertigo is related to the central nervous system. According to research, the percentage of patients who suffer from vertigo and balance disorders visiting general practitioners is between 5% to 7%; and 10% to 12% of these are otolaryngologists’ patients. Prevalence of vertigo increases with age and most cases reported to physicians are by elderly patients. Vertigo is considered to be the third most common condition among the geriatric population aged 65 years.
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Increase in incidence of vertigo, rise in health care expenditure, surge in risk of infections, and increase in geriatric population drive the global vertigo treatment market. Moreover, rise in viral infections, brain injury, and heart conditions are anticipated to propel the global market during the forecast period. Continuous innovation and rise in awareness about inner ear problem and its common causes are expected to augment the global vertigo treatment market from 2018 to 2026. Initiatives by governments to promote physical therapy as treatment option and investment in health care are the other factors likely to boost the growth of the global vertigo treatment market in the next few years. Moreover, prevalence of vertigo is more among female compared to the male population. Vertigo often occurs in old age which is another factor propelling the global market. However, ignorance toward the symptoms and causes of vertigo is likely to hamper the growth of the global vertigo treatment market. Less access to health care facilities, rise in treatment cost, unavailability of medicines for vertigo, and insufficient standard tools for the diagnosis and treatment in some regions are expected to restrain the global vertigo treatment market.
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The global vertigo treatment market can be segmented based on type, treatment, end-user, and region. In terms of type, the global vertigo treatment market can be classified into benign paroxysmal positional vertigo (BPPV), Meniere’s disease, vestibular neuritis or labyrinthitis, and others. Benign paroxysmal positional vertigo is the most common type of vertigo; however, the cause of the condition is unknown. Vestibular neuritis is another inner ear problem caused due to viral infections. Based on treatment, the global vertigo treatment market can be segmented into pharmacotherapy, rehabilitation, surgery, and others. In terms of end-user, the global vertigo treatment market can be divided into hospitals, clinic, and others.
In terms of region, the global vertigo treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Rise in prevalence of vertigo, increase in the geriatric population, and demand for continuous innovation are projected to boost the global vertigo treatment market. North America dominated the global market in 2017, owing to high patient population, rise in prevalence of vertigo, and surge in awareness about the causes of vertigo and its treatments. Europe was the second largest market owing to availability of treatment methods and high prevalence of vertigo. Asia Pacific is an emerging market for vertigo treatment. The vertigo treatment market in the region is anticipated to grow at a rapid pace during the forecast period. Increase in the number of cases of vertigo such as benign positional vertigo, and rise in health care expenditure are expected to drive the market in the Asia Pacific region during the forecast period. Moreover, developing health care infrastructure, rise in viral infections, and increase in ear surgeries are likely to propel the global vertigo treatment market during the forecast period. Middle East & Africa is expected to grow at a sluggish pace owing to limited awareness about the treatment availability in the region.
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Major players operating in the global vertigo treatment market include AstraZeneca, Intas Pharmaceutical Ltd., Cadila Pharmaceuticals, Pfizer, Inc., Sanofi, Medichem S.A., Liaoyuan Silver Eagle Pharmaceutical Co. Ltd., LGM Pharma, Marc Laboratories, and Sun Pharmaceutical Industries Ltd.
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