Vagus Nerve Stimulators Market - 2019 Global Strategic Business Report


Posted March 19, 2019 by chaitanyag11

Vagus nerve stimulators are widely used in the management and treatment of diseases such as epilepsy, depression, and migraine.
 
Vagus nerve stimulation (VNS) is a medical treatment in which electric impulses are delivered to vagus nerve for the management and treatment of various types of diseases including epilepsy and depression. Vagus nerve stimulators are devices used to stimulate the vagus nerve with electrical impulses. Vagus nerve stimulators are classified in two types: implantable devices and external devices. An implantable vagus nerve stimulator is a medical device, which is surgically implanted inside the body. External devices are less-invasive, non-surgical vagus nerve stimulators. Various key players in the market are involved in the development of such easy-to-use external vagus nerve stimulators for various indications.

Frequent approval and launch of novel vagus nerve stimulators is expected to drive global vagus nerve stimulators market growth

In July 2017, electroCore, Inc. launched gammaCore (non-invasive vagus nerve stimulator) for acute treatment of pain associated with episodic cluster headache in adult patients in the U.S. gammaCore is a non-invasive, hand-held medical device applied at the neck and sends gentle, patented electrical stimulation through the skin to activate the vagus nerve, resulting in the reduction of pain.

In June 2017, LivaNova Plc. received the U.S. FDA approval for its VNS therapy system for treatment of patients as young as four years of age with partial onset seizures that are refractory to antiepileptic medications.

The global vagus nerve stimulators market size was valued at US$ 445.1 Mn in 2018, and is expected to witness a CAGR of 9.0% during the forecast period (2018 – 2026).

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High Prevalence of Epilepsy, Depression, and Migraine in Key Regions is expected to Rise Demand for Vagus Nerve Stimulators

Vagus nerve stimulators are widely used in the management and treatment of diseases such as epilepsy, depression, and migraine. High prevalence of such diseases in key regions is expected to drive vagus nerve stimulators market growth over the forecast period. For instance, according to the data published by the National Institute of Mental Health, depression was one of the most common mental disorders in the U.S. in 2016. An estimated 16.2 million adults in the U.S. had at least one major depressive episode. This number represented 6.7% of all the U.S. adults.

Similarly, according to the data published by the World Health Organization in 2018, around 2.4 million people are diagnosed with epilepsy each year, globally. In high-income countries, new cases are between 30 and 50 per 100,000 people, annually.

Asia Pacific is expected to be a Potential Region for Growth of the Vagus Nerve Stimulator Market

LivaNova PLC is one of the leading players in the vagus nerve stimulator market with various products, which earns around 84% of its revenue from the U.S. and rest from other economies. The penetration rate of vagus nerve stimulator is quite low in emerging economies such as Asia Pacific, Middle East, and Africa.

However, high prevalence of migraine, depression, and epilepsy in major economies of Asia Pacific such as China, India, and Australia, and increasing healthcare awareness and expenditure in these economies signifies potential opportunities for vagus nerve stimulators. For instance, according to the data published by the Commonwealth Fund, in 2014, China invested around US$ 992 billion in healthcare, with 30% financed by the central government and local governments and 38% by publicly financed health insurance and private health insurance or social health donations.

Moreover, according to the World Health Organization, 2018, around 3/4th of the population suffering from epilepsy living in low- and middle- income countries do not get the treatment they need, wherein, such medical devices could be used. Manufacturers should collaborate with regional government authorities to spread awareness about these medical devices, as well as increase the number of distributors to cater to the customer base.

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Last Updated March 19, 2019