The global vagus nerve stimulation market size was estimated to be US$ 425 million in 2021 and is expected grow at a CAGR of 10% between 2023 to 2032.
Vagus nerve stimulation (VNS) therapy aims to prevent seizures by delivering regular, gentle electrical pulses to the brain. A device that resembles a pacemaker delivers these pulses.
A vagus nerve is a unit of the autonomic nervous system regulating bodily processes like heart rate. The lower half of the brain is reached after passing through the neck, which is located between the chest and abdomen. The "pacemaker of the brain," or VNS device, is implanted beneath the skin on the chest wall. It has a wire that connects to the neck's vagus nerve. Vagus nerve stimulators are used to treat depression that has resisted treatment and uncontrollable epilepsy. Additionally, COVID-19 survivors have since manifested neurologic symptoms, which is anticipated to foster a favourable atmosphere for market expansion shortly.
Factors driving the vagus nerve stimulation market:
Electrically stimulating the vagus nerve, which regulates particular mental processes and brain regions, is known as nerve stimulation. The patient receives conventional vagus nerve stimulation devices implanted in their bodies, which leads to stimulating the vagus nerve when necessary.
Small-sized implantable VNS devices have been introduced to the market due to technological development and rising consumer demand for cutting-edge products. Patients and healthcare professionals can benefit from these tiny implantable devices in many therapeutic ways. During the forecast period, the introduction of novel devices is anticipated to fuel market expansion.
Non-invasive vagus nerve stimulation (nVNS) devices have begun to appear on the market due to players’ constant focus on innovation and introducing new goods. Another name foir these devices is tVNS, i.e Transcutaneous vagus nerve stimulation devices.
Growing Epilepsy Prevalence and other neurological conditions to drive global demand for VNS Devices. One of the most prevalent neurological diseases is epilepsy, which is much more prevalent in developing nations.
The National Institute of Mental Health (NIMH) projected that 18 million Americans were coping with depression. This was further exacerbated by the rising prevalence of depression patients resistant to therapy, which increased the need for electrical stimulation devices, especially VNS, to treat these diseases. The adoption of these devices and the market expansion are further anticipated to be fueled by the aspects mentioned above in combination with the launch of non-invasive VNS devices by industry players.
Segmentation of vagus nerve stimulation market
As per the application, the market is divided into epilepsy, treatment-resistant depression, and other categories. Treatment for migraine, obstructive sleep apnea, headache, and sudden heart failure are further clinical uses for vagus nerve stimulation. To investigate and broaden the applications of VNS devices, market participants are conducting several clinical trials in collaboration with research institutions. However, the main factor driving the dominance of epileptic applications in the worldwide vagus nerve stimulation market is the demonstrated success of VNS in epilepsy and treatment-resistant depression (TRD), together with the increasing penetration of these devices for treating epilepsy in developed nations.
Invasive and non-invasive VNS devices are two types of market segments. Invasive VNS devices are implanted in the patient's chest, and leads are attached to the vagus nerve. During the forecast period, demand for these devices is expected to increase due to market participants' introduction of new technologies and a shift in patient preference toward non-invasive devices.
Specialised clinics for neurology, cardiology and other ailments are opening up in industrialised and developing nations, drawing in a considerable patient base with acute and chronic illnesses. A rising percentage of epilepsy and TRD patients are treated in these facilities due to a growing number of speciality clinics and the adequate reimbursement policies offered by these settings.
Regional Analysis
The Global Vagus Nerve Stimulation Market is segmented into Europe, North America, Asia Pacific, Middle East & Africa and South America based on geography. Because non-invasive VNS methods are increasingly receiving CE certification, Europe is expected to grow at an outstanding CAGR. According to the vagus nerve stimulation market study, Asia-Pacific is still an underserved region in this industry, which will present several chances for domestic and international competitors as the demand for non-invasive VNS devices is increasing here.
Factors Restraining Global Vagus Nerve Stimulation Market Growth:
Despite the rising frequency of epilepsy, depression, and other chronic illnesses worldwide and in emerging nations, several difficulties are preventing the widespread use of VNS devices.
Lower rates of neurological problem treatment in developing nations are one of the main issues limiting market expansion. Now, just a small number of patients are receiving treatment, and a sizable majority of them still favour traditional medications to address these disorders. This reduces the number of patients who favour VNS therapy even further.
Additional issues limiting market growth include:
Key Players
Throughout the forecast period, these technological developments are anticipated to accelerate the expansion of the vagus nerve stimulation market. Cyberonics, Neurospace, electroCore, Medtronic, LivaNova LLC, Cerebral Rx, MicroTransponder, Inc., and NERVANA LLC are some leading companies in the vagus nerve stimulation sector.
The FDA also authorised an implanted VNS for managing depression and epilepsy. A new non-invasive VNS device that can treat pain, depression, and epilepsy without requiring surgical implantation has also been authorised in Europe.
Segmentation of Vagus Nerve Stimulation Market:
By Product
By Application
By Biomaterial
By End User
By Geography
The Vagus Nerve Stimulation Market is boosted by rising rates of neurological conditions, including epilepsy and migraines, as well as excellent therapeutic results linked to the usage of this technology.
During the forecasting period, the invasive segment is anticipated to hold the top position in this market.
Due to the rising number of regulatory approvals and the significant global prevalence of epilepsy, the epilepsy category is expected to dominate the market by 2022 with a 58.25% revenue share.
The global vagus nerve stimulation market is estimated to exhibit a CAGR of 10% between 2023 to 2032.
The vagus nerve stimulation market size was estimated to be US$ 425 million in 2021.
Non-invasive VNS methods are increasingly receiving CE certification, Europe is expected to grow at an outstanding CAGR.
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