Global Vestibular Testing System Market is Likely to Grow at a CAGR Value of Around 5.6% By 2028

08-Aug-2022 | Zion Market Research

The global vestibular testing system market size was worth USD 98.5 billion in 2021 and is estimated to grow to USD 136.59 billion by 2028, with a compound annual growth rate (CAGR) of about 5.6% over the forecast period. The report analyzes the vestibular testing system market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the vestibular testing system market.

Vestibular testing is a sensory system that regulates special coordination and orientation. The system for testing vestibular function consists of various tests. The results of these tests allow doctors to determine whether the vestibular system in the inner ear is functioning properly. Moreover, these tests can assist in isolating dizziness symptoms, which can then be treated. The vestibular tests are recommended for those whose primary symptoms include vertigo, balance issues, benign paroxysmal positional vertigo (BPPV), disequilibrium, and concussion. The vestibular testing system's main goal is to reduce vertigo & dizziness symptoms, improve gaze stability, and reduce the risk of falling. Developing healthcare infrastructure and an increased risk of clinically relevant outcomes such as falls are driving the expansion of the global vestibular testing system market. Furthermore, the growing prevalence of balance disorders is broadening the scope of these testing systems.

The adoption of high precision vestibular testing tools for the treatment of balance, vertigo, and dizziness disorders and technological advancement contributed to the growth of the global vestibular testing system market. However, high test costs and a scarcity of skilled professionals to interpret test results are some of the factors impeding the growth of the global market. Affordability is a key issue for most of the population in nations such as the United Kingdom and Germany due to the lack of insurance coverage and government assistance policies that cover various treatments. One of the primary factors preventing the development of vestibular tests and procedures is the lack of social health insurance. Besides, the absence of top market players and a lack of awareness about vestibular illnesses in developing countries limit the market growth.

Global Vestibular Testing System Market

The global vestibular testing system market is segregated based on product, end-user, and region. Based on product, the market is divided into videonystagmography (VNG) systems, vestibular evoked myogenic potential (VEMP) systems, rotary chairs, and computerized dynamic posturography. Over the forecast period, the videonystagmography (VNG) systems market is expected to develop at the fastest rate. The demand for VNG system applications is justified by the fact that they measure involuntary eye movement, which could be a vestibular disorder symptom. Based on end-user, the market is classified into VEMP systems for hospitals and VEMP systems for private clinics. Among these the VEMP systems for hospitals segment had the highest market share of 67.2% in 2021, owing to the availability of technology for the identification of vestibular diseases and the presence of qualified physicians for proper diagnosis at hospitals.

North America dominates the global vestibular testing system market. This expansion can be attributed to the region's well-established healthcare infrastructure, the rising prevalence of vestibular illnesses, and increased public awareness. Other factors influencing the market growth in this region include lifestyle changes, advanced product innovations, and early technology adoption. The United States is the leading market in this region due to the rising prevalence of vestibular diseases in the country and the advancement of Medicare benefits for clinicians & patients to use vestibular testing systems. The regional market in the Asia Pacific is anticipated to grow at the fastest rate during the period of projection. The expansion of the patient base and government programs to upgrade medical facilities in China and India are responsible for the regional growth. In addition, the affirmation of Chinese vestibular measurement applications and studies in international publications has resulted in a broader evaluation of recently developed VEMP system applications in the country. Companies in the Asia Pacific are focusing on expanding their product portfolios, diversifying their business operations, lowering costs, increasing user satisfaction, and improving the vestibular testing reliability of the system.

Key players in the global vestibular testing system market include Framiral, Natus Medical Incorporated, Bertec Corporation, BioMed Jena GmbH, Synapsys (Inventis), Neuro Kinetics Inc, Interacoustics A/S, Micromedical Technologies, Instrumentation Difra SA, and Balanceback.

Recent developments:

  • In January 2020, Inventis, an Italian corporation based in Padua that designs and manufactures innovative audiological diagnostics systems, announced the acquisition of 100% of Synapsys, a French pioneer in balancing diagnostic systems.
  • In June 2019, Interacoustics A/S released the Micromedical Orion Rotating Chair with improved vestibular testing.

Browse the full Vestibular Testing System Market By Product (Videonystagmography (VNG) Systems, Vestibular Evoked Myogenic Potential (VEMP) Systems, Rotary Chairs, And Computerized Dynamic Posturography), By End User (VEMP Systems for Hospitals, And VEMP Systems for Private Clinics), and By Region - Global and Regional Market Overview, Market Intelligence, Extensive Analysis, Historical Data, and Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/vestibular-testing-system-market

Global vestibular testing system market is segmented as follows:

By Product

  • Videonystagmography (VNG) Systems
  • Vestibular Evoked Myogenic Potential (VEMP) Systems
  • Rotary Chairs
  • Computerized Dynamic Posturography

By End User

  • VEMP Systems for Hospitals
  • VEMP Systems for Private Clinics

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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