Acoustic neuroma, also known as vestibular schwannoma, is a rare benign schwann cell tumor. It is usually a slow-growing tumor that develops on the main (vestibular) portion of the eighth cranial nerve leading from the inner ear to the brain. Acoustic neuroma is not malignant and does not spread to other parts of the body.  Therefore, symptoms are often subtle and may take many years to develop. The common signs and symptoms of the condition are dizziness, hearing loss and ringing in the ears, unsteadiness, and loss of balance. As the tumor grows, it may cause more noticeable or severe signs and symptoms. Acoustic neuromas are diagnosed in 2,000 to 3,000 people annually, an incidence of 1 per 100,000 per year.

Treatment of acoustic neuroma presents certain barriers that are anticipated to hamper the acoustic neuroma market. Acoustic neuroma is a relatively rare disease and still remains under-researched, with diverse etiologies that are poorly understood. This means that diverse treatment options are required. It also presents a challenge for patient enrollment in clinical trials. The current drug pipeline candidates will be a welcome addition to the treatment landscape for acoustic neuroma patients. However, they have yet to receive approval, and a cure for acoustic neuroma remains to be found. The second major barrier is that the current treatment options for acoustic neuroma patients are widely generalized, they provide very cost-effective treatment options. Today, health care providers are increasingly focused on the cost-effectiveness of drug treatments, especially in the EU. This could make it difficult for the more expensive new products to gain market approval. There are currently no approved treatment options for acoustic neuroma patients. The launch of new therapies is expected to offer patients more treatment choices and expand the acoustic neuroma market, potentially addressing some of the large unmet needs identified.

The global acoustic neuroma market can be segmented based on disease, treatment, end-user, and region. In terms of disease, the acoustic neuroma market can be categorized into unilateral vestibular schwannomas and bilateral vestibular schwannomas. Based on treatment, the acoustic neuroma market can be classified into surgery, radiation therapy, supportive therapy, and others. In terms of end-user, the global acoustic neuroma market can be segmented into hospitals, diagnostic centers, academic and research institutes, and others.

Based on region, the acoustic neuroma market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe accounted for a major share of the acoustic neuroma market. According to a Research Office Legislative Council Secretariat report, there are over 30 million people suffering from rare diseases in the U.S. Strong focus on research and development and government aid to promote R&D such as research grants, tax credits, and fee waivers contribute to the expansion of the market. Europe accounted for a prominent share of the orphan drugs sector. According to the Research Office Legislative Council Secretariat report, in 2015, between 25-30 million people were suffering from rare diseases in the European Union. Incentives offered to promote the manufacture of orphan drugs in the region, such as 10-year period of marketing exclusivity, research grants, and reduced fees for marketing authorization applications, boost the acoustic neuroma market. Over 1,805 drugs have been granted orphan drug status in the European Union, and over 128 drugs were granted marketing authority from 2000 to 2016. For instance, in December 2017, PLX-100, a Polaryx Therapeutic drug, received orphan drug designation from the U.S. FDA for the treatment of neuronal ceroid lipofuscinoses (NCLs).

Players operating in the global acoustic neuroma market are Genentech, Inc., MED-EL, GlaxoSmithKline plc., Novartis AG, Shandong Simcere-Medgenn Bio-pharmaceutical Co., Ltd, and AstraZeneca.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Acoustic Neuroma Market

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