Vertigo Treatment Market

Global Vertigo Treatment Market Size (2023 to 2028)

The global market size of vertigo treatment is forecasted to be USD 2.88 billion by 2028 from USD 2.24 billion in 2023, rising at a CAGR of 5.11% from 2023 to 2028.

Vertigo is a medical condition in which a person hallucinates that objects around them are moving when they are not. It is not a disease but rather a sensation that makes patients feel that the environment around them is spinning. Sweating, nausea, balance problems, and walking impairment are common symptoms of vertigo. The peripheral and central are the primary cause of vertigo, related to the form of drowsiness. Peripheral vertigo is associated with inner ear problems, and central vertigo is associated with the central nervous system. The treatment of vertigo depends entirely on its cause because it often disappears without treatment. As per the finding, 5 to 10% of patients who visit general practitioners suffer from vertigo and balance disorder problems. In the early stage, medicines like phenothiazines, antihistamines, and benzodiazepines could also help treat vertigo conditions.

MARKET DRIVERS:

The growing aging population worldwide suffering from vertigo conditions is one of the significant factors propelling the global vertigo treatment market.

Vertigo treatment is most common among elders because the prevalence of vertigo conditions increases with age. Less turnaround time and low-cost procedures over the traditional ones are some of the other significant factors fuelling the growth of the vertigo treatment market. Furthermore, due to government initiatives to make people aware of vertigo conditions and their treatment, people start including the analysis and tracking of vertigo conditions in their routine check-ups, which help drive the overall growth of the vertigo treatment market. In addition, the entry of many key players into the market helps in the rising emergence of drugs used in the treatment of conditions, fostering the market's development. The global vertigo treatment market is also fuelled due to the increasing prevalence of geriatric populations because it is most commonly present among elderly patients of age 65 and above. Furthermore, increasing expenditure on the healthcare sector by the government and key players has also boosted the growth of the vertigo market across the world.

Furthermore, the increased cases of sports-related head injury and demand for novel treatment are driving the market's growth. Additionally, most cases of vertigo are diagnosed and treated in primary care with the help of physical therapy. Therefore, the easy accessibility of primary care services plays a vital role in the market's growth.  

MARKET RESTRAINTS:

The patients' ignorance of the symptoms and causes of vertigo can hinder the growth of the global vertigo treatment market. The primary reason behind this is that vertigo is not a disease; it is a condition that makes people often ignore the symptoms. In addition, limited access to healthcare facilities, rising treatment costs, lack of access to anti-vertigo drugs, and inadequate standard tools for diagnosis and treatment in some regions are also significant factors hamper the growth of the global dizziness treatment market. The side effects involved in the medicines used in the treatment of vertigo conditions are also acting as an obstacle to the growth of the overall market. For instance, Antivert is an antihistamine used to prevent or treat symptoms of motion sickness such as nausea, vomiting, and dizziness; if Antivert interacts with alcohol or other drugs, it will make patients sleepy or slow their breathing. The other side effects include blurred vision, dry mouth, constipation, dizziness, drowsiness, headache, vomiting, or tiredness, restraining the growth of the vertigo treatment market.

REPORT COVERAGE:

This market research report on the global vertigo treatment market has been segmented and sub-segmented based on the type, age group, and region.

Vertigo Treatment Market – By Type:

• Peripheral Vertigo
• Central Vertigo

The peripheral vertigo segment accounted for the largest share of the vertigo treatment market in 2022. The condition involves problems related to the vestibular nerve, which is present between the inner ear and the brain stem. The increasing incidence of cases of vestibular nerves among citizens of age 65 and above is anticipated to boost the growth of the vertigo treatment market.

Vertigo Treatment Market – By Age-group:

• Pediatrics
• Adults
• Geriatrics

Among the various segments of the age group, the geriatrics segment is projected to hold the dominant position in the global vertigo treatment market during the forecast period. According to the research, five to twelve percent of patients visiting general practitioners diagnose with vertigo conditions which helps in the rising demand for vertigo treatment.

Vertigo Treatment Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Globally, North America and Europe held the highest share of the market owing to the availability of advanced healthcare infrastructure, the presence of key market players, and favorable reimbursement policies.  Also, the increased awareness of the treatment of vertigo conditions as part of regular check-ups. Also, the low cost of the procedure at minimal risk associated with it compared to other alternative therapies is driving the growth of the vertigo treatment market in the region. Another reason that fuels the development of the market in the region is the rising affordability of the treatment because of the growing disposable incomes of the people.

The Asia Pacific region has also emerged as a potential market for vertigo treatment. The vertigo treatment market in the region is expected to grow rapidly during the forecast period owing to increased cases of vertigo conditions due to the prevalence of the geriatric population in the region. In addition, the development of health care infrastructure, rapid increase in the cases of viral infections, and increased ear surgery are expected to drive the global vertigo treatment market during the forecast period. Moreover, the initiatives taken by the Chinese government to invest more in Research & Development activities have reduced the cost of procedures over the traditional ones for the treatment of vertigo conditions.

The Middle East and Africa are expected to grow slower due to limited awareness of the condition and the non-availability of treatment in the region.

Key Market Players:

Sensorion, Auris Medical, Casper Pharma, Indicus Pharma, Mylan N.V., Amneal Pharmaceuticals LLC., Epic Pharma, LLC., Endo Pharmaceuticals Inc., Novartis AG, Jubilant Life Sciences Ltd, and Pfizer Inc. are some of the promising companies operating in the global vertigo treatment market and profiled in this report.