Global Acoustic Neurinoma Market Overview
Acoustic neurinoma (also known as acoustic neuroma, vestibular schwannoma, or acoustic neurilemoma) is a benign, usually slow-growing tumor that develops from the balance and hearing nerves supplying the inner ear. The tumor comes from an overproduction of Schwann cells—the cells that normally wrap around nerve fibers like onion skin to help support and insulate nerves. As the acoustic neurinoma grows, it affects the hearing and balance nerves, usually causing unilateral (one-sided) or asymmetric hearing loss, tinnitus (ringing in the ear), and dizziness/loss of balance. As the tumor grows, it can interfere with the face sensation nerve (the trigeminal nerve), causing facial numbness. Acoustic neurinoma can also affect the facial nerve (for the muscles of the face) causing facial weakness or paralysis on the side of the tumor. If the tumor becomes large, it eventually presses against nearby brain structures (such as the brainstem and the cerebellum), becoming life-threatening.
Market Size & Forecast
Acoustic neurinoma market is anticipated to record a significant CAGR over the forecast period. Many multi-national companies are concentrating towards new product advances in acoustic neuroma. Moreover, the prediction of neurinoma being inheritable acts as a market growth of the acoustic neurinoma market.
The increasing R&D activities and technological advancements along with the government initiatives taken in the development and progress of the healthcare sector is estimated to aid the acoustic neurinoma treatment market improve over the years of forecast i.e. 2018-2027. Furthermore, the increasing demand for minimally invasive or non-invasive treatment methods is estimated to help the acoustic neurinoma or neuroma market expand.
On the basis of regional platform, global acoustic neuroma market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to hold the largest shares in the acoustic neuroma market owing to the regions innate nature of adopting advanced technologies in healthcare in their primitive stage. The presence of large number of market players present in the region supporting R&D activities behave as certain more factors helping in the acoustic neurinoma market growth.
Asia-Pacific is expected to be the most lucrative region due to increased health disorders in the geriatric as well as the middle age populaces.
Our-in depth analysis of the global acoustic neuroma market includes the following segments:
Global acoustic neurinoma market is further classified on the basis of region as follows:
Growth Drivers & Challenges
The possibility of neurinoma returning after treatment has been observed in 1 out of every 20 patients according to National Health Service (NHS), U.K, which is estimated to act as a key market driver of the acoustic neurinoma market. The rising R&D activities by various market players to enhance their product portfolio along with various government initiatives for the improvement of the healthcare sectors of the associated nations is estimated to increase the market growth. Moreover, increasing technological innovations in healthcare sectors, higher efficiency of equipment and procedures accompanied by outstanding therapeutic response is expected to upsurge the acoustic neurinoma market growth across the globe. Also the demand for minimally invasive treatment methods will expand the acoustic neuroma market globally.
However, the rarity of this type of tumor in the existing population and its unpredictable nature is anticipated to behave as some of the key factors in the restriction of the acoustic neurinoma market growth. Furthermore, the cost constraints associated with the treatment of these tumors and their restricted availability in developing regions of the Asia Pacific and Middle East are estimated to hinder the market growth.
Scope & Context
Overview of the Parent Market
The Global Acoustic Neurinoma Market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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