Vestibular Testing Systems Market Experienced Significant Growth At 5.9% CAGR From 2021 to 2031

As per Fact.MR’s latest revised industry analysis, the global vestibular testing systems market was valued at over US$ 98 Mn in 2020, and is expected to exhibit a CAGR of close to 6% over the forecast period (2021-2031).

Vestibular tests are more accurate than other medical examinations in identifying inner ear disorders. Vestibular tests, if combined with other hearing pathway tests such as an audiometry test, auditory brainstem response (ABR) test, and electrocochleography (ECochG) test, provide much better results.

Balance disorders in the geriatric population have become a major public health problem, as the population aged above 60 is prone to many diseases. In the geriatric population, common causes of vertigo may manifest differently, as these patients tend to report less rotatory vertigo and more non-specific dizziness and instability than younger patients.

According to CDC, more than one-third adults aged 65 or more suffer from a fall each year in the U.S., and around 20%–30% of people who fall end up with moderate to severe injuries. In the elderly population, prevalence of vertigo and dizziness has reached 30%, and due to an increase in the aging population, globally, the number of patients is rapidly increasing.

However, high cost associated with these tests and devices may hamper market growth to some extent.

Overall, the vestibular testing systems industry is expected to witness steady growth throughout the forecast period of 2021 to 2031, owing to rising demand for effective assessment systems and increasing geriatric population.

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Vestibular Testing Systems Market – Scope of Report:

A latest publication by Fact.MR on the global Vestibular Testing Systems market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the market.

The study offers detailed insights on key market dynamics, which include the drivers, restraints, trends, and opportunities in the market.

The principal aim of the study is to present exclusive information about how the market will perform during the forecast period of 2021-2031.

Important indicators for the successful growth of the Vestibular Testing Systems market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market, and compounded annual growth rate (CAGR), which are described in an exhaustive way in Fact.MR’s study.

This research study can support readers to know the demand for Vestibular Testing Systems supplements, and the quantitative development opportunities during the study period.

The research is beneficial for shareholders in Pulse Oximeters, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the market.

Insights and wisdom presented in this Fact.MR study can be leveraged by shareholders in the market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

Competitive Landscape:

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

• In February 2020, Natus Medical Incorporated announced a collaboration with ReSound, a global leader in smart hearing aid solutions, aiming at providing exceptional hearing care solutions to hearing aid users around the globe.
• In June 2019, Neuro Kinetics, Inc. (NKI) announced the release of VEST™ 8.2 and I-Portal® 6.2 software upgrades, both of which include numerous new features for users of I-Portal® NOTC (Neurotologic Test Center), I-Portal® VNG, and I-PAS™ (I-Portal® Portable Assessment System), NKI’s proprietary clinical eye tracking devices.

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Report benefits & key questions answered

• Post covid consumer spending on Vestibular Testing Systems: the report also highlights the change in the buying behavior of consumers and shifts in purchasing power, post covid-19. This information will assist the businesses to plan their production and marketing strategies.
• Vestibular Testing Systems demand outlook: the market intelligence study reports highlights the factor propelling the demand for Vestibular Testing Systems. As per the study, the demand for Vestibular Testing Systems will grow through 2031.
• Vestibular Testing Systems historical volume analysis:b Fact.MR survey report provides insights into the sales registered over the last forecast year 2016 to 2020 and create estimates regarding the sales performance for 2021-2031.
• Vestibular Testing Systems consumption by demographics: the report provides consumption by demographics analysis to assist the market players in designing their expansion strategies on the basis of consumption pattern of the customers.

Vestibular Testing Systems Market Segmentations:

• 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

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