Market Analysis and Size
According to the World Health Organization, neurological diseases are responsible for 4.5 percent to 11 percent of all illnesses worldwide. Vagus nerve stimulators are also used to treat patients suffering from depression, asthma, and cardiovascular disorders.
Data Bridge Market Research analyses that the vagus nerve stimulation market which was USD 8.88 billion in 2021, would rocket up to USD 20.46 billion by 2029, and is expected to undergo a CAGR of 11.00% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
The vagus nerve is a prominent component of the autonomic nervous system that regulates metabolic homeostasis and functions as a crucial component of the neuroendocrine-immune axis in maintaining homeostasis via its afferent and efferent pathways. Any approach that stimulates the vagus nerve, including manual or electrical stimulation, is referred to as vagus nerve stimulation (VNS). For refractory epilepsy and treatment-resistant depression, left cervical VNS is an approved therapy.
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Vagus Nerve Stimulation Market Dynamics
Drivers
· Rising occurrence of neurological illnesses
The rising occurrence of neurological illnesses such as migraine and epilepsy among people of all ages as a result of changing lifestyles, as well as excellent clinical findings for these approaches, are driving market expansion. Increased government attempts to improve healthcare infrastructure and R&D projects will further broaden the indications for neuro stimulator use. In addition, research into vagus nerve stimulation for treating diseases related to organs and muscles functioning connected to the vagus nerve will generate profitable potential for the market.
· Usage of vagus nerve stimulation
In the forecast period, rising of neurological disorders may boost market expansion. Vagus nerve stimulation is a device that uses electric impulses to stimulate the nerve. The VNS devices are used to treat epilepsy and depression, among other neurological diseases. With the use of a device that looks like a pacemaker, the vagus nerve is stimulated to transmit lower electrical pulses to the brain. The brain, on the other hand, is not physically involved in the surgery and is unaffected by the low-voltage electrical pulses.
· Growing R&D expenditures by pharmaceutical and biotech companies
The vagus nerve stimulation Market is boosted by the rising prevalence of neurological illnesses such as epilepsy and migraine, as well as excellent therapeutic outcomes associated with the use of this technology. The market is expected to grow due to an increase in the need for improved treatment as a result of changing lifestyles, increased government support for research and development, and increased research and development investment by the pharmaceutical and biotechnology sectors.
Opportunities
The total vagus nerve stimulation market is predicted to grow in the future due to an increased desire for automated vagus nerve stimulation techniques among healthcare and medical professionals. In the coming years, government initiatives and actions to promote the benefits of vagus nerve stimulation could potentially help to boost the vagus nerve stimulation industry. Growing awareness of the importance of diagnostic tests, as well as rising disposable incomes, are driving demand in the vagus nerve stimulation industry.
Global Vagus nerve stimulation Market Scope
The vagus nerve stimulation market is segmented on the basis of product type, biomaterial and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
· Implantable VNS Devices
· External VNS Devices
Biomaterial
· Polymerics
· Metallics
· Ceramics
End User
· Hospitals
· Ambulatory Surgical Centers (ASCS)
· Others
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Vagus Nerve Stimulation Market Regional Analysis/Insights
The vagus nerve stimulation market is analysed and market size insights and trends are provided by country, product type, biomaterial and end-user as referenced above.
The countries covered in the vagus nerve stimulation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is anticipated to dominate the market share owing to well-developed technologies and growing prevalence of neurological disorders due to changing lifestyle.
Asia-Paciic is expected to be fastest growing region in market owed to presence of rapidly developing healthcare technology, and huge rise in neurological disorder patient pool whereas due to rising economies with increasing medical tourism.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Vagus Nerve Stimulation Market Share Analysis
The vagus nerve stimulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vagus nerve stimulation market.
Some of the major players operating in the vagus nerve stimulation market are:
· Liva Nova PLC (UK)
· Entero healthcare (US)
· Electro Core Inc. (US)
· Beijing Medical Equipment (China)
· Boston Scientific Corporation (US)
· Cyberonics, Inc. (US)
· NeuroMetrix, Inc.(US)
· ImThera Medical (US)
· Inspire Medical Systems, Inc. (US)
· Cerbomed GmbH (Germany)
· Reshape Lifesciences,Inc.(U.S)
· NERVANA LLC (U.S)
· Parasym Ltd. (U.K)
· Innovative Health Solution Inc. (U.S)
· Medtronic (Ireland)
· Bioventus (U.S)
· NeuroPace Inc. (U.S)
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