May 8, 2019 by Steve Blade
The global market for vestibular testing system is expected to witness moderate growth in terms of value owing to rising prevalence of vertigo and balance disorder, and increasing adoption of medicinal treatment for dizziness, vertigo, and imbalance. Addition to this, increase in healthcare spending, rise in awareness, favourable reimbursement by the government are some other factors that are driving the growth of the vestibular testing system market. Besides, technological advancements are creating potential growth opportunities for the players operating in the global vestibular testing system market.
Primary and secondary problems inflicted by vestibular disorders have escalated in the recent past resulting in psychological problems such as depression and anxiety. Besides, there have been instances of vestibular disorder leading people to embrace a sedentary lifestyle to shield from dizziness and imbalance. Consequently, it has led to dip in flexibility and muscle strength and decreased stamina. As such, the use of electronystagmography (ENG test) and videonystagmography (VNG test) have gained traction in vestibular testing market.
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On account of reliable and apt results, light weight, which appropriates with an infrared video camera of high resolution, vestibular testing is most sought after. Besides, rotary chair test, computerized dynamic visual acuity (DVA) and computerized dynamic posturography (CDP) are also preferred by most of the doctors. Additionally, government’s favorable reimbursement and increase in healthcare budget are anticipated to positively influence the vestibular testing landscape.
Technological advancement bolstering the vestibular testing systems demand
Technological advancement and availability of videonystagmography in low cost as compared to other existing systems are building a huge platform for the growth of the vestibular testing system market globally.
The increasing number of patient pool suffering from Meniere’s disease is also likely to boost the demand for vestibular testing systems, such as of videonystagmography (VNG) systems, vestibular evoked myogenic potential (VEMP) system, rotary chair, and computerized dynamic posturography, are some major factors that are driving vestibular testing system market.
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The report incorporates exhaustive executive summary followed by market introduction section. The report also presents lucid picture of through market overview and market analysis. The market background section focuses on value chain analysis and macro-economic factors. The report also encompasses mergers and acquisitions along with technological advancements that have significant influence in the development of the vestibular testing market. The report also incorporates market structure analysis which throws light on market share analysis of leading players coupled market presence analysis of market players. Meanwhile, the report also reveals the technology roadmap of the vestibular testing market. The report also includes investment feasibility matrix along with Product life cycle analysis.
Hospitals Continue Being the Largest Revenue Source for Vestibular Testing System Market
North America is expected to gain popularity over the forecast period in overall vestibular testing system market, driven by rising prevalence of vertigo disease, and increasing patient pool suffering from balance disorder. An increase in adoption of medicinal treatment for dizziness, and or inner ear disorder, increase in healthcare spending, growing awareness, and technological advancements are also propelling the growth of the vestibular testing system market globally. Furthermore, rise in geriatric population is also one of the key factors driving the demand for vestibular testing systems in testing facilities (including hospitals and private clinics). In elderly population, the prevalence of vertigo and dizziness has reached up to 30%, which reflects the rapid increase in number of patients over the past few years.
Validation of the information in the report is done through primary sources, including in-person interactions, surveys, view of seasoned analyst, interviews and in-person interactions and insights of analyst coupled with secondary sources incorporating trade journals, verified paid sources, resourceful databases and trade journals. Absolute dollar opportunity analysis has also formed basis for the robust analysis of the report.
Vestibular Testing Market: Competitive Landscape
The report also includes competitive scenario of the vestibular testing market, including competition intensity mapping with respect to market taxonomy; competition dashboard and company profiles. The section, based on Porters’ Five Force Analysis, also sheds light on financials overview, strategies, product portfolio and recent developments.
The companies in the global vestibular testing system market focus on to consolidate their position by actively participating in activities such as partnerships, mergers, and acquisitions. The companies in the vestibular testing system market are focusing expansion in countries such as India, China, and Brazil.Examples of some of the key players operating in the global vestibular testing system market are Natus Medical Incorporated, balanceback (Vestibular Research & Development, LLC), BioMed Jena GmbH, Interacoustics A/S, Neuro Kinetics, Inc (NKI), Micromedical Technologies, Difra s.a., Synapsys, TECHNO CONCEPT, Framiral etc.
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