Acoustic Neuroma Market Size was valued at USD 1.9 Billion in 2023. The Global Acoustic Neuroma industry is projected to grow from USD 2.7 Billion in 2024 to USD 4.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.43% during the forecast period (2024 - 2032).
An acoustic neuroma is a non-cancerous (benign) growth that develops on the 8th cranial nerve (vestibulocochlear nerve), it connects the inner ear with the brain and has two different parts. One part is involved in transmitting sound and the other sends balance information to the brain.
In June 2023, the effects of microsurgical resection of vestibular schwannoma versus stereotactic radiosurgery will be evaluated by a clinical trial meant to involve 36 subjects.
In May 2022, Brain Foundation Australia supported a project led by researchers from the University of Newcastle on the development of innovative target therapy against acoustic neuroma.
In May 2022, Elekta launched their next-generation stereotactic radiosurgery system, Elekta Esprit, at ESTRO, whereby the non-invasive brain treatment would replace open surgery and conventional radiotherapy. Launching technologically advanced products will drive growth within the forecast period in this segment.
In April 2021, Vysioneer's VBrain, an Artificial Intelligence-based system for delineating tumors, was approved by the Food and Drug Administration (FDA). The time required to treat patients will be reduced while treatment accuracy increases. The device was evaluated at multiple sites across Taiwan and America. These are three common types of brain tumor such as meningioma, metastasis or acoustic neuroma where auto-contouring is applicable. This is expected to skyrocket market growth with the introduction of advanced technology products.
In April 2021, the FDA endorsed Vysioneer's artificial intelligence-based tumor auto-contouring system, VBrain. Radiation precision will be enhanced to shorten patients' duration before receiving treatment. Several places were involved in testing this equipment within the Taiwan and United States borders. Auto contouring could, therefore, treat these three most prevalent forms – Acoustic Neuroma, Brain Metastasis and Meningioma; hence, highly anticipated technological advancement products initiate market expansion.
In 2021, quantum-inspired research conducted between Fujitsu and the University of Toronto has led to the development of a technology for accelerated radiation treatment planning for brain tumors and other diseases. This technology is designed to accelerate the process of producing radiation treatment plans good for Gamma Knife radiosurgery. It has always been a boring and time-consuming exercise to make these plans in the traditional way. The new technology will solve this problem by providing a better plan for radiation therapy, dosing included which effectively enhances its impact.
Acoustic neuromas also known as vestibular schwannomas, usually grows slowly over a period of years. Usually they do not invade the brain, but can push on it as they grow. As the tumor grows, they press the nearby cranial nerves that control the muscles enabling facial expression and sensation. If the tumor becomes large enough to press on the brain stem or cerebellum, it can be deadly. They account for almost 8% of all tumors inside the skull. The prevalence rate is 1 out of every 100,000 individuals per year.
Acoustic neuromas are mainly categorized into unilateral and bilateral vestibular schwannomas. Unilateral affect only one ear and bilateral vestibular schwannomas affect both hearing nerves and are usually associated with some genetic disorder. More than half of the affected individuals have inherited the disorder from an affected parent. Several new drugs are launched by the key players which grants various opportunities for the acoustic neuroma market.
Usually these neuromas are rare. Globally around 1-20 people in every million are diagnosed each year with an acoustic neuroma. Acoustic neuromas account for about 6 cases in every 100 patients with brain tumours. They are more common in middle-aged adults and are rare in children. Furthermore, these neuromas seem to be more common in women than in men. Acoustic neuromas tend to affect adults aged 30 to 60 and usually have no obvious cause, although a small number of cases are the result of a genetic condition called neurofibromatosis type 2 (NF2).
The gadolinium enhanced magnetic resonance imaging (MRI) is the gold standard for diagnosis of vestibular schwannoma yet several examinations may arise suspicion of vestibular schwannomas. According to a patient survey held by the Acoustic Neuroma Association, in 2012, it was reported that after surgical treatment of acoustic neuroma more than 35% patients suffered a headache depending on the type of surgical approach, technique used and the time since surgery.
Intended Audience
The acoustic neuroma is segmented on the basis of type, diagnosis, drug class, treatment, and end-users.
On the basis of type, the Acoustic Neuroma Market is segmented into unilateral vestibular schwannomas and bilateral vestibular schwannomas.
On the basis of diagnosis, the Acoustic Neuroma Market is segmented into hearing test (audiometry), electronystagmography, magnetic resonance imaging (MRI), and others.
On the basis of drug class, the Acoustic Neuroma Market is segmented into anticonvulsants, corticosteroids, osmotic diuretics and pain killers.
On the basis of treatment, the Acoustic Neuroma Markett is segmented into monitoring, surgery, radiation therapy, supportive therapy and others. The radiation therapy is sub segmented stereotactic radiotherapy, proton beam therapy. Surgery is subsegmented radiosurgery, craniotomy, and microsurgery removal.
On the basis of end-user, the market is segmented into hospitals, diagnostic centers, academic and research institutes, and others.
The acoustic neuroma market consists of countries namely America, Europe, Asia Pacific, and the Middle East.
North America is projected to hold the largest share of the acoustic neuroma market due to presence of huge numbers of key players supporting research and development for developing novel therapies, large base of diagnostic centers and greater emphasis on disease prevention and wellness by governments. Along with that healthcare facilities in the U.S. are gradually moving from treatment to wellness, so the prevention and early detection of disease is critical. Approximately 2,000 to 3,000 cases are diagnosed each year with acoustic neuroma in the United States (6 to 9 per million persons).
The European acoustic neuroma market hold the second largest market as it witness rapid growth. According to NHS U.K, an acoustic neuroma can occasionally return after treatment. This is thought to happen to around 1 in every 20 people who have had surgical removal.
Asia Pacific is expected to be the most promising markets for acoustic neuroma in the near future The Middle Eastern region is expected to grow at a faster rate due to the factors such as the extensive development of health care infrastructure and growing emphasis on research and development in the health care sector.
Many new companies have jumped into the market in order to make the most out of the opportunities. Companies are implementing the strategies of mergers and acquisitions with other players.
Some of key the players in the acoustic neuroma market are:
| Report Attribute/Metric | Details |
| Â Â Market Size | 4.3 Billion |
| Â Â CAGR | 9.34% (2024-2032) |
| Â Â Base Year | 2023 |
| Â Â Forecast Period | 2024-2032 |
| Â Â Historical Data | 2022 |
| Â Â Forecast Units | Value (USD Billion) |
| Â Â Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Type,Diagnosis,Treatment,Drug Class anEnd User |
| Â Â Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | GE Healthcare (U.S.), Siemens Healthcare(U.S.), Philips Healthcare (U.S.), Shimadzu Corporation (Japan), Toshiba Medical Systems Corporation (Japan), F. Hoffmann-La Roche Ag, Merck & Co., Inc., Novartis AG, Pfizer Inc., and others |
| Â Â Key Market Opportunities | The key players which grants various opportunities for the acoustic neuroma market. |
| Â Â Key Market Drivers | Â Increasing cases of acoustic neurom |
Acoustic Neuroma Market Highlights:
Frequently Asked Questions (FAQ) :
acoustic neuroma market is expected to expand exponentially at 9.34% CAGR from 2024 to 2032.
acoustic neuroma market is driven by the increasing cases of acoustic neurom
Diagnosis of acoustic neuroma by gadolinium enhanced magnetic resonance imaging (MRI) is expected to be beneficial to the global acoustic neuroma market in the coming years.
The probability of severe headaches after surgery can impede by the global acoustic neuroma market growth.
North America can dominate the global acoustic neuroma market till 2025.
Pfizer Inc., Merck & Co., Inc., Novartis AG, F. Hoffmann-La Roche Ag, Toshiba Medical Systems Corporation, GE Healthcare, Philips Healthcare, Shimadzu Corporation, and Siemens Healthcare are notable players currently working in the global acoustic neuroma market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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