Vestibular Testing System Market - Global Industry Analysis | Record To Grow USD 136.59 Million By 2028 | Zion
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
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Global Vestibular Testing System Market Overview:
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 market growth.
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The Key Audiences for Global Vestibular Testing System Market Report: (Who can Buy Our Report)
Global Vestibular Testing System Market Consulting Firms & Research Institutes
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Service Providers, Product Providers, Solution Providers, and other players in the Vestibular Testing System market
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Individuals interested to learn about the Vestibular Testing System market
Regional Overview:
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.
Recent developments:
In October 2020 - Interacoustics announced the release of the 3rd generation of VisualEyes. This new vestibular system includes videonystagmography, camera head impulse testing, vibrant visual acuity, intense head rotation, and rotational chair testing into a single integrated system.
In February 2020 - The Newport-Mesa Audiology Balance & Ear Institute (the Institute) launched a home-based Vestibular Virtual Reality (VVR) system to treat vertigo, dizziness, and imbalance now available to domestic and international patients. The home-based VVR intervention system is an extended version of the Institute's registered trademark advanced vestibular treatment.
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.
Global Vestibular Testing System Market: Growth Drivers
Technological advancement is enhancing the market demand for vestibular testing systems
The implementation of high-accuracy vestibular testing tools for the treatment of balance, vertigo, and dizziness disorders, as well as technological advancements, contributes to the global vestibular testing system market growth. Global demand for vestibular testing systems is growing due to technological development and the low cost of videonystagmography compared to other existing systems. Leading manufacturers and healthcare providers in vestibular testing systems have taken the initiative to raise awareness among health professionals by launching technologically advanced vestibular testing systems.
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