The market growing at a CAGR of 7.4% during the forecast period from 2019 to 2027.
The global market for vagus nerve stimulation is emerging efficiently from 2019 to 2027, accredited to increase minimally invasive surgical procedures along with enhanced nerve stimulation therapy worldwide in the field of medical technology. Globally, the U.S. generated maximum revenues in 2018. Top U.S. manufacturers continue to focus on R&D to innovate new applications along with external VNS Devices. The increasing burden of stroke and other neurological disorders, such as Parkinson’s and Alzheimer’s, leads to an increasing number of hospital admissions, eventually increasing the demand for neurosurgery devices. According to statistics from the American Neurological Association, neurological disorders affect more than 100 million U.S. citizens every year, with medical costs alone estimated at more than US$ 600 billion by 2030.
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The major drivers are increasing number of patients suffering with neurological & lifestyle disorders and swift adoption of latest technology in the U.S market. For e.g. in 2017, the U.S. FDA approved marketing of “gammaCore” (handheld noninvasive vagus nerve stimulator/ (nVNS) therapy) manufactured by ElectroCore LLC, mainly for the preventive treatment of episodic cluster headaches. Major clinical applications for epilepsy and depression will further spur revenue growth for implantable vagus nerve stimulators. Other treatment options include seizures, electroconvulsive therapy, pain, asthma, Crohn’s disease, migraine, and other diseases. However, reimbursement cuts, pricing pressures related to surgery, and complications after surgery and less technology expansion in the developing nations expected to temper revenue growth on a global scale.
Key questions answered in this report
- What are the current market trends and dynamics in the vagus nerve stimulator market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the vagus nerve stimulator market?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
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Product Type (2017–2027; US$ Mn)
• Implantable Vagus Nerve Stimulator
• Transcutaneous Vagus Nerve Stimulator (External)
Application (2017–2027; US$ Mn)
• Pain Management
• Depression & Anxiety
• Others (Obstructive Sleep Apnea, Opioid Withdrawal)
End-User (2017–2027; US$ Mn)
• Specialty Clinics
• Ambulatory Surgical Centers
Geography (2017–2027; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (Japan, China, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East & Africa (GCC, Rest of Middle East & Africa)
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