PUBLISHER: The Business Research Company | PRODUCT CODE: 1702673
PUBLISHER: The Business Research Company | PRODUCT CODE: 1702673
Acoustic neuroma, also known as vestibular schwannoma, is a benign tumor that develops on the vestibular nerve, linking the inner ear to the brain and responsible for transmitting balance and hearing information. These tumors typically progress slowly and remain confined to their original location, manifesting symptoms such as hearing loss, tinnitus (ringing in the ear), dizziness, imbalance, facial numbness or weakness, and coordination difficulties.
The primary types of acoustic neuroma include unilateral vestibular schwannomas and bilateral vestibular schwannomas. Unilateral vestibular schwannomas refer to tumors that develop on one side of the vestibulocochlear nerve, affecting both hearing and balance functions. Treatment options encompass medications, anticonvulsants, radiation therapy, proton therapy, and stereotactic radiosurgery. Diagnosis typically involves magnetic resonance imaging (MRI), computed tomography scan (CT-scan), and hearing tests. End users involved in the management of acoustic neuroma include hospitals, clinics, and surgical centers.
The acoustic neuroma market research report is one of a series of new reports from The Business Research Company that provides acoustic neuroma market statistics, including acoustic neuroma industry global market size, regional shares, competitors with a acoustic neuroma market share, detailed acoustic neuroma market segments, market trends and opportunities, and any further data you may need to thrive in the acoustic neuroma industry. This acoustic neuroma market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The acoustic neuroma market size has grown strongly in recent years. It will grow from $1.83 billion in 2024 to $1.99 billion in 2025 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to advancements in imaging technologies, surgical innovations, increased awareness and screening programs, economic factors, and regulatory approvals.
The acoustic neuroma market size is expected to see strong growth in the next few years. It will grow to $2.72 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to technological advancements, personalized medicine, rising healthcare spending, patient preferences and demands, and healthcare infrastructure development. Major trends in the forecast period include increasing incidence rates, technological innovations, market expansion, collaborative research initiatives, and advancements in treatment modalities.
The surge in investment in the healthcare sector is anticipated to drive the growth of the acoustic neuroma market. The healthcare sector encompasses a broad range of services and facilities aimed at promoting health, providing medical care, and improving overall well-being for individuals and populations. Increased investment in healthcare is driven by various factors, including rising demand, technological innovation, regulatory changes, and global health challenges. These investments support advancements in diagnostics and treatments for conditions such as acoustic neuroma, ultimately enhancing patient outcomes and quality of life. For example, data from the Centers for Medicare & Medicaid Services (CMS) in December 2023 indicated a 4.1% increase in healthcare spending in the U.S. in 2022, reaching a total of $4.5 trillion. Consequently, the growing investment in the healthcare sector is fueling the expansion of the acoustic neuroma market.
Key players in the acoustic neuroma market are focusing on developing innovative treatment options, particularly radiosurgery methods tailored for acoustic neuroma patients, to offer enhanced features and benefits. Radiosurgery methods for acoustic neuroma involve precisely delivering radiation to the tumor to destroy or shrink it while minimizing damage to surrounding healthy tissue. For instance, Elekta, a Swedish-based medical technology company, introduced Elekta Esprit in May 2022, an advanced radiosurgery system designed for high-precision stereotactic radiosurgery targeting brain tumors, vascular malformations, or functional disorders. Elekta Esprit provides clinicians with faster automated treatment planning, enabling more personalized and patient-friendly treatments with exceptional precision. This advanced system offers superior visualization, remote accessibility, and collaboration tools, allowing treatment teams to address even the most challenging targets with exceptional accuracy while ensuring a gentle, personalized approach to radiosurgery.
In December 2022, Eli Lilly and Company, a US-based pharmaceutical company, acquired Akouos, Inc. for approximately $487 million. This acquisition aligns with Lilly's strategic focus on expanding its genetic medicines portfolio and enhances its capabilities in adeno-associated viral gene therapies. Specifically, the acquisition strengthens Lilly's efforts to develop treatments for inner ear conditions, including sensorineural hearing loss. Akouos, Inc. is a US-based biotechnology company specializing in pioneering gene therapies for hearing-related disorders, making this acquisition an important step for Lilly in advancing its position in the emerging field of genetic treatments for hearing impairments.
Major companies operating in the acoustic neuroma market are Pfizer Inc, F. Hoffmann-La Roche AG, General Electric Company, Merck & Co. Inc., Sanofi S.A., AstraZeneca plc, Abbott Laboratories, Novartis AG, GSK plc, Medtronic plc, Canon Medical Systems Corporation, Toshiba Medical Systems Corporation, Amgen Inc., Siemens Healthineers, Teva Pharmaceuticals Industries Ltd, Olympus Corporation, Shimadzu Corporation, Varian Medical Systems, Elekta AB, Cochlear Limited, Brainlab AG, Natus Medical Incorporated, CIVCO Medical Solutions, Monteris Medical, BrainScope Company Inc.
North America was the largest region in the acoustic neuroma market in 2024. The regions covered in the acoustic neuroma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the acoustic neuroma market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The acoustic neuroma market consists of revenues earned by entities by providing services such as neurosurgery, hearing tests, auditory rehabilitation, and counseling and support services for patients and families. The market value includes the value of related goods sold by the service provider or included within the service offering. The acoustic neuroma market also includes sales of hearing aids, surgical instruments, balance therapy equipment, and assistive listening devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Acoustic Neuroma Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on acoustic neuroma market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for acoustic neuroma ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The acoustic neuroma market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.