Global Vagus Nerve Stimulation (VNS) Devices Market: By Product Type (Implantable VNS Devices and External VNS Devices), By Application (Depression, Epilepsy, and Migraine), By End User (Hospitals, Ambulatory Surgical Centers (ASCS), and Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Vagus Nerve Stimulation (VNS) devices market was valued at US$ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Vagus Nerve Stimulation (VNS) Devices Market
Vagus nerve stimulation process involves implantation of a device that stimulates the vagus nerve with electrical impulse. The vagus nerves are a pair of nerves that start in the brain and run through the body. These nerves play a major role in receiving messages between the brain and the body. The vagus nerve stimulation is most often used to treat epilepsy when other treatments haven’t worked. Vagus nerve stimulation devices are designed to prevent seizures by sending regular, mild pulses of electrical energy to the brain via the vagus nerve. Vagus nerve stimulation device is sometimes referred to as a „pacemaker for the brain.“ The device is placed under the skin on the chest wall and a wire runs from it to the vagus nerve in the neck. The vagus nerve travels through neck and passes between the chest and abdomen and the lower part of the brain.
Market Dynamics: Vagus Nerve Stimulation (VNS) Devices Market
According to the WHO, neurological disorders are responsible for 4.5%-11% of all illnesses. The Increasing prevalence of neurological disorders such as migraine and epilepsy among all age groups is expected to drive the market revenue growth. The increasing R&D activities, favorable reimbursement policies are expected to fuel the growth of the Vagus Nerve Stimulation (VNS) devices market. However, the higher treatment costs may hinder the growth of the market. According to the Epilepsy Foundation, VNS therapy currently costs approximately USD 30,000.
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Market Scope: Vagus Nerve Stimulation (VNS) Devices Market
Vagus Nerve Stimulation (VNS) devices market is segmented based on the product type, by application, and end user
Based on the product type, the market is segmented into the following:
- Implantable VNS Devices
- External VNS Devices
Based on the application, the market is segmented into the following:
- Depression
- Epilepsy
- Migraine
Based on the end user, the market is segmented into the following:
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Others
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Regional Analysis: Vagus Nerve Stimulation (VNS) Devices Market
Geographically, global vagus nerve stimulation (VNS) devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America Vagus nerve stimulation (VNS) devices market is the fastest growing region. The increasing prevalence of the neurological disorders and the rise in the adoption of the VNS devices for the treatment of various neurological disorders expected to add fuel the market revenue growth. European market stands next to the North America market. Asia Pacific is the region expected to offer lucrative opportunities owing to rapid development in healthcare technology with a huge patient pool.
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Competition Assessment: Vagus Nerve Stimulation (VNS) Devices Market
Some of the players in the global vagus nerve stimulation (VNS) devices market include:
- LivaNova PLC (UK)
- EnteroMedics Inc. (US)
- ElectroCore Medical LLC (US)
- Boston Scientific Corporation (US)
- Cyberonics, Inc. (US)
- NeuroMetrix, Inc.(US)
- ImThera Medical (US)
- Inspire Medical Systems, Inc.(US)
Notable Market Developments: Vagus Nerve Stimulation (VNS) Devices Market
- In October 2017, LivaNova PLC (NASDAQ:LIVN) (“LivaNova” or the “Company”), a market-leading medical technology company, received U.S. Food and Drug Administration (“FDA”) approvals for its latest Vagus Nerve Stimulation Therapy (“VNS Therapy”) System, which consists of the SenTiv implantable generator and the next-generation VNS Therapy Programming System for the treatment of patients with drug-resistant epilepsy.
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