Vertigo Treatment Market Updates 2024 : Projected To Attain USD 1.9 Billion By 2031

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Vertigo treatment Market

The growth in popularity of antihistamines for vertigo treatment are one of the factors that boosted the growth of the market.

WILMINGTON, DELAWARE , UNITED STATES, June 20, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled,“Vertigo Treatment Market ," The vertigo treatment market size was valued at $1.3 billion in 2021, and is estimated to reach $1.9 billion by 2031, growing at a CAGR of 4.4% from 2022 to 2031.

Vertigo is a condition characterized by a sensation of whirling and a loss of balance. Symptoms of vertigo include nausea and vomiting, headache, tinnitus, motion sickness, and balance problems. It is important to note that vertigo is a symptom rather than a disorder, with at least 40% of adults experiencing vertigo at some point in their lives.

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Factors driving the growth of the global vertigo treatment market include the rising prevalence of central vertigo in developed countries such as the U.S. and Germany, the availability of medications for vertigo treatment, an increasing elderly population, and growing healthcare expenditure. Additionally, heightened awareness about inner ear problems and increased demand for vertigo treatment medications are expected to provide significant opportunities for market growth. For instance, according to the World Health Organization (WHO), the number of people aged over 60 years was 1 billion in 2019, and this number is projected to increase to 1.4 billion by 2030.

The global vertigo treatment market is segmented based on type, treatment, and distribution channel:

By Type:

Peripheral Vertigo: This segment dominated the market in terms of revenue and is the fastest-growing segment, with a CAGR of 4.7% from 2022 to 2031. This growth is attributed to the increasing prevalence of peripheral vertigo and the rising incidence of vertigo among adults.
Central Vertigo.

By Treatment:
Anticholinergics
Antihistamines: This segment exhibited the highest growth and is the fastest-growing segment, with a CAGR of 4.9% from 2022 to 2031. This growth is driven by the low cost of over-the-counter (OTC) medications and the increased use of antihistamines, which effectively treat nausea and vomiting.
Others (Antibiotics, Benzodiazepines, and Antidepressants)
By Distribution Channel:

Hospital Pharmacies
Drug Stores and Retail Pharmacies: This segment was the highest revenue contributor to the vertigo treatment market share in 2021. The market growth is driven by the increasing prevalence of central vertigo conditions and the development of new drugs for vertigo treatment by key industry players.
Online Providers: This segment is expected to exhibit the highest CAGR of 5.9% from 2022 to 2031, due to the increasing sales of antivertigo drugs through online pharmacies.

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KEY FINDINGS OF THE STUDY
Based on type, the peripheral vertigo segment held the largest market share in 2021 and is expected to remain dominant throughout the forecast period.
By treatment, the antihistamines segment held the largest market share in 2021 and is anticipated to continue this trend during the forecast period.
Based on distribution channel, the drug stores and retail pharmacies segment held the largest market share in 2021.
Based on region, North America is expected to experience largest growth in 2021, and registering a CAGR of 3.6% during the forecast period.

Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vertigo treatment market analysis from 2021 to 2031 to identify the prevailing vertigo treatment market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the vertigo treatment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global vertigo treatment market trends, key players, market segments, application areas, and market growth strategies.

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Leading players of the global vertigo treatment market
AstraZeneca Plc.
Endo Pharmaceuticals Inc.
Epic Pharma, LLC
GlaxoSmithKline Plc.
Hoffmann-La Roche
Novartis AG
Pfizer Inc.
Sanofi
Sun Pharmaceutical Industries Ltd.
Teva Pharmaceutical Ltd.
Viatris (Mylan N.V.)
Zydus Cadila

The report analyzes these key players in the global vertigo treatment market. These companies have adopted various strategies such as expansion, new product launches, partnerships, and other initiatives to increase their market penetration and strengthen their position in the industry. The report is helpful in determining each market player's business performance, operating segments, product portfolio, and developments.

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David Correa
Allied Market Research
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