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Vagus Nerve Stimulator Market Expected to Witness Massive Growth with a Significant CAGR of 4.36%, asserts DelveInsight

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Vagus Nerve Stimulator Market Expected to Witness Massive Growth with a Significant CAGR of 4.36%, asserts DelveInsight

November 09
17:55 2022
Vagus Nerve Stimulator Market Expected to Witness Massive Growth with a Significant CAGR of 4.36%, asserts DelveInsight
Vagus Nerve Stimulator Market
Vagus Nerve Stimulator Market Expected to Witness Massive Growth with a Significant CAGR of 4.36%, asserts DelveInsight

The Global Vagus Nerve Stimulators market was valued at USD 426.22 million in 2021, growing at a CAGR of 9.06% during the forecast period from 2022 to 2027 to reach USD 717.17 million by 2027. 

The demand for vagus nerve stimulators is witnessing a surge primarily due to the rising prevalence of neurological diseases such as epilepsy, headache disorders such as migraine, and others that have proven to receive benefit from the Vagus Nerve Stimulators therapy, increasing popularity of VNS therapy as an alternative or even conjunctive treatment in cases where drug resistance develops, growing research in studying the effects of VNS on other indications such as tinnitus and chronic pain besides the approved ones, technological advancements leading to the development of new products such as non-invasive VNS devices  thereby boosting the growth of the vagus nerve stimulators market during the forecast period from 2022-2027.

Some of the key market players operating in the Vagus Nerve Stimulator market include LivaNova (NASDAQ: LIVN), Soterix Medical Inc, MicroTransponder Inc, Parasym Ltd, electroCore (NASDAQ: ECOR), tVNS Technologies GmbH, and others.

DelveInsight’s “Vagus Nerve Stimulator Market Insight & Forecast” report will offer an in-depth understanding of the Vagus Nerve Stimulator market, further benefiting the competitors or stakeholders operating in the Vagus Nerve Stimulator arena.

Vagus Nerve Stimulator Overview

A vagus nerve stimulator is a pacemaker like device which comes with an implantable programmable generator that is implanted in the chest wall and delivers electrical impusles to the vagus nerve in the neck thereby stimulating the vagus nerve and providing relief to patients.

Interested to know more about the functioning of Vagus Nerve Stimulator- Visit @ Vagus Nerve Stimulator Operations & Working.

Vagus Nerve Stimulator Market Insights

Among all the regions, North America is estimated to account for the largest share in the vagus nerve stimulators market. The key driving factors of the North America vagus nerve stimulators market are high prevalence of epilepsy, depression in the region, increasing disposable income, and rising investments and big collaborative expansions by key players in the region. Moreover, the conducive regulatory environment in the region are expected to establish the dominance of North America VNS market in the overall global landscape.

One of the key driving factors of the United States vagus nerve stimulators market is the interplay of various factors in the country. This domination is due to the increase in epileptic population, increasing prevalence of headache disorders such as migraine, and depression in the country. Furthermore, extensive research and development activities pertaining to product development and conducive regulatory environment further helps product manufacturers to generate more revenue from the country.

For instance, as per the data cited by the National Headache Association (2022), approximately 40 million American are living with migraine and headache disorders in the country. Therefore, the presence of large patient population suffering from migraine and headache disorders correlates to the presence of a potential patient population that may resort to using VNS devices as a treatment method, thus driving the product demand in the nation. Moreover, increasing epileptic population is also expected to drive the demand for vagus nerve stimulators in the country. For instance, as per the data provided by the Centers for Disease Control and Prevention (2020), in 2015, about 3.4 million people across the nation were diagnosed with epilepsy of which 470,000 were children. As mentioned by the International League Against Epilepsy, one-third of epileptic patient population continue to have seizures despite being on anti-seizure medication. This presents another opportunity for VNS devices as they have been reported and approved for medical use for treating drug-resistant epilepsy.

Also, advanced product launches and commercialization agreements among the key companies are further expected to fuel the market. For instance, in August 2021, the US Food and Drug Administration approved drug-free rehabilitation system intended to treat moderate to severe upper extremity motor deficits associated with chronic ischemic stroke—a stroke caused by a blockage of blood flow to the brain with long-lasting symptoms the first-of-its kind VNS device- the MicroTransponder Vivistim Paired VNS System. Thus, the interplay of all the aforementioned factors are likely to fuel the market growth of vagus nerve stimulators in the United States during the forecast period

Besides United States, product development activities in Canada also provide supportive growth opportunities for the North America vagus nerve stimulators market. For instance, the Canadian Health regulatory body Health Canada authorized the Dolphin vagus nerve stimulator for emergency use in the treatment of COVID-19 induced acute respiratory distress syndrome.

Thus, all these activities point towards the presence of conducive growth environment in the North American region, ultimately influencing the market growth of this regional market.

To read more about why North America is leading the market growth in the Vagus Nerve Stimulator market, get a snapshot of the Vagus Nerve Stimulator market report.

Vagus Nerve Stimulator Market Dynamics

The vagus nerve stimulators market is experiencing an increase in product demand for a variety of reasons with one of the key reasons being the rising prevalence of neurological disorders. As per the data cited by the World Health Organization (WHO) (2022), over 50 million people across the globe suffer from epilepsy. The source further stated that the estimated proportion of the general population with active epilepsy (i.e. persistent seizures or that require treatment) at any given time is between 4 and 10 per 1000 people. Additionally, in another factsheet by the WHO, it was stated that approximately 264 million people suffer from depression globally. Neurological indications such as epilepsy and depression can be extremely debilitating for patients and are often become refractory to pharmacological treatments. Moreover, pharmacological treatments in such indications are often accompanied with severe side-effects.

Owing to these, an alternative approach such as vagus nerve stimulation has been a preferred mode of treatment in drug-resistant cases of depression, epilepsy as well as it is also being administered in combination with pharmacological treatments in order to provide synergistic effect to patients. Vagus nerve stimulation has been reported to provide positive results in terms of preventing seizures in epileptic patients. Additionally, many studies reported that patients who received vagus nerve stimulation for epilepsy, showed clinical improvement with depression unrelated to the effect of the VNS on their seizures with nearly  40-50% improvement in patients with non-psychotic major depression.

Moreover, with more positive results being reported concerning the VNS therapy, more research is being conducted on different disease areas which may further expand the application of vagus nerve stimulation in coming years. For instance, several studies are ongoing in studying the effects of VNS on tinnitus, irritable bowel syndrome, and chronic pain among other indications. This further presents an opportunity for making significant headway in the VNS market in the near future.

However, procedure-related complications and high cost of these devices may be confining factors for the vagus nerve stimulators market growth.

Along with the factors mentioned above, the vagus nerve stimulators market witnessed a period of slow growth due to the COVID-19 pandemic. The lockdown implemented by various governments worldwide to curb the spread of the COVID-19 infection resulted in suspension of various surgeries and outpatient consultations across all medical specialties including specifically impacting elective procedures. This led to a considerable decrease in the demand for VNS devices as VNS procedures were classified under elective procedures. Furthermore, the implementation of global lockdown in varying degrees further affected the procurement and supply chain. However, the approval of various COVID-19 vaccines and the implementation of mass vaccination programs have paved the way for resumption of vagus nerve stimulators demand, thereby providing a positive growth environment for the vagus nerve stimulators market during the forecast period.

Recent Breakthroughs in Vagus Nerve Stimulator Market:

  • In August 2021, the US Food and Drug Administration approved the MicroTransponder Vivistim Paired VNS System, a one-of-its-kind, drug rehabilitation system with the intention to treat moderate to severe upper extremity motor deficits associated with chronic ischemic stroke.
  • In March 2020, LivaNova received the CE Mark approval for their Vagus Nerve Stimulation Therapy® (VNS Therapy) System, Symmetry™ for difficult-to-treat depression.

Key Players Proactively Working In the Vagus Nerve Stimulator Market

Key Vagus Nerve Stimulator companies involved in manufacturing and production are making significant growth in the advancement of these devices. To boost their market position, they also engage in mergers and acquisitions. Some of the key Vagus Nerve Stimulator companies operating actively in the Vagus Nerve Stimulator market include LivaNova, Soterix Medical Inc, MicroTransponder Inc, Parasym Ltd, electroCore, tVNS Technologies GmbH and others.

Scope of the Vagus Nerve Stimulator Market Report:

  • Geography Covered: Global
  • Study Period: 2022-2027
  • Key Vagus Nerve Stimulator Companies: LivaNova, Soterix Medical Inc, MicroTransponder Inc, Parasym Ltd, electroCore, tVNS Technologies GmbH and others.
  • Market Segmentation by Product Type: Invasive VNS Devices And Non-Invasive VNS Devices
  • Market Segmentation by Application: Migraine, Epilepsy, Depression, And Others
  • Market Segmentation By End-User: Hospitals, Specialty Clinics, And Others
  • Market Segmentation by Geography: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Table of Contents 

1

Report Introduction

2

Executive Summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Vagus Nerve Stimulator Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Vagus Nerve Stimulator Market

7

Vagus Nerve Stimulator Market Layout

8

Vagus Nerve Stimulator Global Company Share Analysis – Key 3-5 Companies

9

Vagus Nerve Stimulator Companies and Product Profiles

10

Project Approach

11

KOL Views

12

DelveInsight Capabilities

13

Disclaimer

 

Media Contact
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