Vertigo Drugs Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast 2024-2028

Vertigo Drugs Market Size 2024-2028

The vertigo drugs market size is estimated to grow by USD 561.8 million, at a CAGR of 5.44% between 2023 and 2028. The market is experiencing significant growth due to several key factors. The rising demand for vertigo drugs in emerging economies, driven by increasing awareness and improving healthcare infrastructure, is a major growth driver. Another trend influencing the market is the integration of digital health solutions in vertigo treatment, which offers convenience and improved patient outcomes. Additionally, the presence of generic drugs pharmacies and active pharmaceutical ingredients for vertigo is contributing to market growth by providing affordable treatment options to a larger patient population. Overall, these factors are expected to drive the growth of the market in the coming years.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

By Type Analysis

The market share growth by the peripheral vertigo segment will be significant during the forecast period. An issue with the portion of the inner ear that controls balance is the cause ofthis segment. These areas are called the vestibular labyrinth or semicircular canals. The vestibular nerve may potentially be a factor in the issue. This nerve links the inner ear to the brain stem. Approximately 80% of vertigo is peripheral.

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The peripheral vertigo segment was valued at USD 1.12 billion in 2018. This condition may be caused by injury, certain medicines, such as aminoglycoside antibiotics, cisplatin, irritation and swelling of the inner ear, meniere disease, and others. Patients typically develop rapid, severe nausea, infectious disease, vomiting, and gait instability. Antihistamines, benzodiazepines, corticosteroids, antiemetics, and anticholinergics may be used in the treatment of this segment. Furthermore, various market players, such as Sensorion and Viatris provide drugs for this segment, which will boost the segment during the forecast period.

Regional Analysis

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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have explained the regional trends and drivers that will shape the market during the forecast period. North America involves nations like the US, Canada, and Mexico, and it addresses the development, manufacturing, and consumption, which is driving the development of the regional market. Moreover, several prominent pharmaceutical companies that develop and manufacture medications for treatment are based in the region.  With large-scale investments in medical diagnostic research and development (R&D), these companies introduce innovative drugs with enhanced efficacy and safety profiles. The region's availability of a wide range of vertigo medications is facilitated by the region's well-established pharmaceutical infrastructure and expertise, boosting the growth of the market during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies,

 Altamira Therapeutics Ltd.: The company offers vertigo drugs such as ALTA-5206.

• AdvaCare Pharma
• Amneal Pharmaceuticals Inc.
• Endo International Plc
•  Epic Pharma LLC
•  F. Hoffmann La Roche Ltd.
• GlaxoSmithKline Plc
•  Indicus Pharma
•  Intas Pharmaceuticals Ltd.
• Jubilant Pharmova Ltd.
• Lupin Ltd.
• Novartis AG
•  Otonomy Inc.
• Pfizer Inc.
• Sensorion
• Sound Pharmaceuticals
• Sun Pharmaceutical Industries Ltd.
• Suven Life Sciences Ltd.
• Teva Pharmaceutical Industries Ltd.
• Viatris Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market is a significant segment of the healthcare services industry, catering to the needs of outpatients suffering from various types of vertigo, including peripheral and central vertigo. The incidence and prevalence of vertigo, particularly in the geriatric population, have been on the rise due to aging and associated health issues. The healthcare expenditure on vertigo treatment is expected to increase, driven by the growing elderly community and the high prevalence of dizziness, Meniere's disease, and benign paroxysmal positional vertigo. Clinical trials are ongoing to develop new medications and antidepressants, such as corticosteroids, antibiotics, and vestibular suppressants, for the treatment of vertigo. The route of administration for vertigo drugs is mainly oral, with some medications available in injectable forms. Further, the market is experiencing growth driven by innovations such as Vertigenius. Patient visits to hospitals are increasing, highlighting the need for effective treatments. Ear nose and surgery are key areas where these drugs are utilized. Seed fundraising and awareness initiatives are crucial for supporting research and development. Collaboration with vestibular therapists ensures optimal treatment and care for patients managing vertigo. Our researchers analyzed the data with 2023 as the base year, along with the key trends, and challenges.

Key Market Driver

Rising demand for vertigo drugs in emerging economies is notably driving market growth. The global market is experiencing significant growth due to the increasing demand for advanced healthcare services and medications in emerging economies. Countries such as India, China, Brazil, South Africa, Indonesia, Mexico, and others, characterized by rapid economic growth and increasing healthcare expenditure, are witnessing an increase in demand for vertigo drugs.

Moreover, this trend is driven by the growing awareness of healthcare and increased accessibility to medical services, particularly among the geriatric population. The incidence and prevalence of vertigo, including conditions such as benign paroxysmal positional vertigo, Meniere's Disease, and peripheral vertigo, are on the rise in these countries. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The burgeoning trend of integrating digital health solutions into the treatment is significantly propelling the growth of the global market. This integration represents a pivotal shift in patient care strategies, leveraging innovative digital platforms to enhance vertigo management. Digital health solutions, including telehealth platforms, are revolutionizing the way vertigo symptoms are tracked, monitored, and addressed. Through telehealth platforms, patients can access remote consultations and virtual visits with healthcare professionals, facilitating real-time guidance and monitoring of their condition.

The integration of digital health solutions offers a multitude of benefits for the treatment. By enabling real-time data collection and remote monitoring, these solutions facilitate timely interventions and adjustments to treatment regimens, ultimately leading to improved patient outcomes. Moreover, digital health solutions enhance patient engagement and empowerment, fostering a more proactive approach to vertigo management. As a result, the integration of digital health solutions is expected to drive significant advancements in vertigo treatment and contribute to the growth of the market in the forecast period.

Major Market Challenges

The presence of generic drugs in the past few years has harmed the growth of the global market. Generic drugs are defined as inexpensive drugs that contain the same active ingredient (API) as branded drugs. These drugs are launched shortly after the brand loses its patent exclusivity. Following the loss of patent exclusivity, the generic competition for a product increases, leading to a decline in the sale of branded drugs as the generic competitor enters the market with the same product at lower prices.

Moreover, generic drugs also make the threat of new entrants in the market, which will damage the market position of the existing companies and market players. Once these generics are launched in developed countries, they reach developing countries within a short period. Such instances will impede the market growth during the forecast period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 Market Customer Landscape

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• Type Outlook 
  • Peripheral vertigo
  • Central vertigo

• Distribution Channel Outlook
  • Offline
  • Online

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Rest of the World (ROW)
    • Brazil 
    • Australia 
    • Argentina

Market Analyst Overview

The market is a significant segment of the healthcare services industry, catering to the needs of outpatients suffering from various balance disorders, including peripheral vertigo, benign paroxysmal positional vertigo (BPPV), Meniere's disease, and dizziness. The geriatric population, with its higher susceptibility to these conditions due to aging and associated healthcare expenditure, forms a substantial patient base. The incidence and prevalence of vertigo are on the rise, driven by the growing elderly community and increasing awareness. Vertigo is characterized by feelings of dizziness, disequilibrium, and a sensation of spinning, caused by disorders of the vestibular labyrinth and vestibular nerve. Treatment options include medication, increasery, and homecare. Corticosteroids, antibiotics, and vestibular suppressants are common medications used in the treatment of vertigo, available in various routes of administration such as oral, injectable, and homecare.

Also, the market is witnessing the emergence of generic drugs and patent expiration, impacting the pricing dynamics of vertigo medications. Patient epidemiology, vertigo types, and healthcare infrastructure are key factors influencing the market's growth. Further, the market is evolving with advancements in balance disorder treatment. Innovations like betahistine, nasal spray, and wearable head sensor are enhancing patient care. Specialty clinics and balance disorder clinics are utilizing these drugs to address balance disorders effectively. Challenges such as financial burden are mitigated through improved healthcare system support and collaboration with vestibular therapists.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2028.
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market's competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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