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Vestibular Testing Systems Market

Vestibular Testing Systems Market

Vestibular Testing Systems Market By Product (Videonystagmography (VNG) Systems, Vestibular Evoked Myogenic Potential (VEMP) Systems, Rotary Chairs, Computerized Dynamic Posturography), By End User - Regional Forecast 2021-2031

Vestibular Testing Systems Market
  • Nov-2021
  • List of Tables : 27
  • List of Figures : 150
  • 170 Pages
  • Healthcare

Vestibular Testing Systems Market Outlook

Global demand for vestibular testing systems experienced significant growth at 5.9% CAGR from 2021 to 2031, with market value estimated at around US$ 105.8 Mn in 2021.

As per Fact.MR’s projections, demand for videonystagmography for tests related to diagnosing vestibular disorders is high and held a substantial share of over 51% in 2020 in the global market for vestibular testing systems.

Vestibular Testing Systems Market Value (2020) US$ 98 Mn
Projected Market Value (2031) US$ 187.4 Mn
Global Market Growth Rate (2021-2031) 5.9% CAGR
Share of Top 2 Manufacturers of  Vestibular Testing Systems 78.9%

Sales Analysis of Vestibular Testing Systems from 2016 to 2020 Vs Market Outlook for 2021 to 2031

As per the detailed analysis by Fact.MR, a market research and competitive intelligence provider, the global vestibular testing systems market expanded at 4.8% CAGR over the past 5 years, with audiology vestibular testing being prominent.

Globally, the number of patients suffering from vertigo and balance disorders has been rapidly increasing. The same has also been reported in several Western European countries. Even though with the rise in the patient population and increasing number of techniques for vestibular testing, patients with vertigo often receive either inappropriate or inadequate treatment. Hence, over the last few decades, the field of VNG test demand, vestibular test batteries, and vestibular function testing has undergone fundamental changes.

According to a study in Brazil, in 2017, it is estimated that around 20% of patients experienced some kind of dizziness. After pain and fatigue, dizziness is the third-most frequent symptom observed in patients by general practitioners.

Increase in the number of cases of vestibular disorders among children is also playing a huge role in driving demand for both, general vestibular testing and clinical vestibular testing (VNG), across regions.

  • According to NIDCD, in the U.S., nearly 3.3 million children aged 3-17 years have dizziness or balance problems, which means more than 1 in 20 children are suffering from this problem. A rise in prevalence has been reported with an increase in age. 7.5% of children aged 15-17 years, 6% of children aged 12-14, 3.6% of children aged 6-8 years, and 4.1% of children aged 3-5 years have dizziness or balance problems.

Thus, increasing number of patients suffering from balance disorders in the U.S. and Canada has led to high demand for vestibular testing systems in North America and also across the globe.

The market is expected to expand at a considerable growth rate over the next ten years at a CAGR of 5.9%, and offer an absolute $ opportunity worth US$ 81.7 Mn.

What are the Key Opportunities for Vestibular Testing Product Manufacturers?

Considering consolidation activities in the VEMP systems market, mergers and acquisitions have emerged as a key growth strategy among industry leaders. This trend has been quite evident in North America especially, which is one of the key markets for vestibular testing systems.

  • In 2020, Inventis, an Italian company founded in 2005 with its headquarters in Padua, and designs and manufactures advanced audiological diagnostics equipment, announced that it has acquired 100% share capital of Synapsys, a French leader in balance diagnostic systems.

Such consolidation activities not only strengthen the acquirer’s existing portfolio but also help increase its presence at the regional as well as global level. Also, various medical device companies have developed advanced systems, which opens up new revenue pockets for existing manufacturers, thus expressing an opportunistic approach for the growing need for vestibular tests.  

Which Factors are Restraining Demand for Vestibular Testing Services and Systems?

Vestibular testing is costly in comparison with other tests. Moreover, there is lack of publications to support the use of specialist tests for the confident diagnosis of specific vestibular pathologies till date.

The following literature illustrates a reduction in the enthusiasm for some tests over the last 12 months that were popularized over the past decade.

  • According to leading otolaryngologists, a rotatory chair test is one of the ideal testing systems for vertigo or dizziness. However, due to its high cost (approximately US$ 100,000) and limited usefulness, the system is only adopted by hospital laboratories where multiple clinicians can use it.

Cost of computerized dynamic posturography (CDP) and vestibular evoked myogenic potential (VEMP) are double than that of other treatments. Besides, the cost of physical therapy services is less in comparison to vestibular testing.

Challenging reimbursement scenario is also impeding growth in demand for vestibular testing services for vertigo. Many individuals rely on insurance to pay for their medical care. The vestibular testing industry, as a whole, does not have reimbursements for its different devices.

Affordability is a major problem for a majority of the population due to the absence of health insurance and government support policies that cover different treatments in countries such as the U.K and Germany. Absence of social health insurance is one of the major factors limiting the growth of vestibular tests and treatments.

Moreover, considering the current landscape, the market is slightly dominated by local players, due to which, it becomes difficult for insurance providers to cover under any particular guidelines. These factors are expected to have a negative impact on the demand growth of vestibular testing devices.

Vestibular testing systems market region value share analysisby Fact.MR

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Country-wise Insights

What Makes the U.S. the Largest Market for Vestibular Testing?

The U.S. dominates the North American region with a total market share of 82.9% in 2021, and is projected to continue experiencing high growth throughout the forecast period.

Growth of this market is driven by rising incidence of vestibular disorders in the country and development of Medicare benefits for the adoption of vestibular testing systems by clinicians and patients.

Why is Germany Considered a Lucrative Market for Vestibular Testing Equipment Manufacturers?

Germany is expected to dominate the European market for vestibular testing, with a share of around 32.4% by 2031. Globally, per capita healthcare spending is on the rise. People's willingness and ability to spend on wellness has resulted in significant shift in healthcare spending.

Modern methods in Germany are increasingly being established in the outpatient and inpatient ENT-specific sector. The medical benefits of modern diagnostic procedures, and their quality and effectiveness, have led to high demand for vestibular testing products and the need for vestibular function tests with their scientific effectiveness being confirmed.

What is the Outlook for China Regarding Vestibular Testing Equipment?

In 2020, China held 2.3% share in global vestibular testing sales, and this market is projected to expand at a CAGR of 6% from 2021 to 2031. The acceptance of Chinese vestibular testing applications and studies on international publications have led to a wider scope of assessment of newly developed VEMP systems in the country.

Category-wise Insights

Which Vestibular Testing Product is Driving Market Growth?

By product, videonystagmography (VNG) systems project lucrative growth at a CAGR of 6.3% through 2031. Demand for VNG systems is justified as a measurement of involuntary eye movement, which could be symptomatic of the vestibular disorder.

Vestibular testing systems market by product type value share analysis by Fact.MR

Who is a Dominant End User of Vestibular Testing Systems?

Hospitals are expected to hold a revenue share of 67.2% in 2021, but are projected to hold lesser share over the forecast period with an estimation of 65.9% by 2031.

This trend of high market revenue share is associated with the presence of equipment for the detection of vestibular disorders and the attendance of trained physicians for accurate diagnosis at hospitals.

An Adaptive Approach to Modern-day Research Needs

COVID-19 Impact

There was a negative impact of the COVID-19 pandemic on the product sales of vestibular testing systems due to effect on equipment production, demand, travel bans, quarantines, and supply chain issues. This disrupted the manufacturing of vestibular testing devices and impacted their utilization by patients subsequently. Demand for these systems were low during peak lockdowns as new installations were limited.

Competitive Landscape

Research and development activities, collaborations, and new product developments have emerged as key growth strategies being adopted by industry players. By focusing on these strategies, key stakeholders are expanding their geographic footprints and strengthening their existing product portfolios.

  • In June 2018, Interacoustics A/S launched a new Micromedical Orion Rotary Chair for enhanced vestibular assessment.

Similarly, recent developments related to companies manufacturing vestibular testing products have been tracked by the team at Fact.MR, which are available in the full report.

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Vestibular Testing Systems Industry Report Scope

Attribute Details
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis US$ Mn for Value , Units for volume
Key Regions Covered
  • North America, Latin America, Western Europe, Eastern Europe, APECJ, China, Japan, MEA
Key Countries Covered
  • US, Canada,  Brazil,  Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, China, Japan, India, ASEAN, Australia, New Zealand, South Africa, and GCC Countries
Key Market Segments Covered
  • Product, End User, and Region
Key Companies Profiled
  • Natus Medical Incorporated
  • balanceback (Vestibular Research & Development, LLC.)
  • BioMed Jena GmbH
  • Neuro Kinetics, Inc
  • Micromedical Technologies
  • Instrumentation Difra SA
  • Interacoustics A/S
  • Synapsys (an Inventis company)
  • Bertec Corporation
  • Framiral
Pricing Available upon Request

Key Segments Covered in Vestibular Testing Systems Industry Research

  • 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

- FAQs -

The global vestibular testing market is worth US$ 98 Mn at present, and is set to expand 1.8X over the next ten years.

Vestibular testing product sales are expected to reach US$ 187.4 Mn by the end of 2031, with sales revenue expected to register 5.9% CAGR.

From 2016-2020, the market for vestibular testing devices expanded at the rate of 4.8%.

Initiatives on vertigo and balance and research & development of advanced testing devices is a growing trend in this space.

The U.S., Germany, Japan, U.K., and Canada are expected to drive most demand for vestibular testing products.

North America is one of the key markets for vestibular testing equipment, with the U.S. expected to account for over 81% of the North American market share.

Demand for vestibular testing systems in Western Europe is expected to register growth at 5.9% CAGR over the next ten years.

The U.S., France, and U.K. are key producers of vestibular testing products.

The China vestibular testing systems market appears to uphold a global revenue based share of 2.3% in 2020, and is expected to present a growth rate of 6% CAGR over the forecast period. The market in Japan is also expected to expand at 6% CAGR.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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