Market Analysis
Market Research Future in its freshly
published report on the global vagal nerve
stimulation market report predicts
that it is likely to garner a CAGR of approximately 10.10 % during the forecast
period of 2022-2030.
The growing incidences of depression are expected to prompt
the global vagal nerve stimulation market growth over the assessment period.
The ability of vagal nerve stimulation to treat treatment-resistant depression
in adults is popularizing it among the rising number of adults suffering from
the neurological disorder. This is anticipated to escalate the vagal nerve
stimulation market growth. The approval from USFDA for vagal nerve stimulation
to treat epilepsy and depression is considered a crucial factor that is
expected to bolster the vagal nerve stimulation market in the coming years. The
ability of vagal nerve stimulation to treat treatment-resistant depression in
adults is popularizing it among the rising number of adults suffering from the
neurological disorder. The safety of the vagal nerve stimulation process is
another factor expected to amplify the vagal nerve stimulation market growth.
However, the high cost for vagal nerve stimulation can hinder its market
growth.
Segmental Overview
The global vagal nerve stimulation market study has been
segmented into application, product, and end user.
Based on the application, the vagal nerve stimulation market
has been segmented into migraine, depression, epilepsy, and others
Based on the product, the vagal nerve stimulation market has been
segmented into external VNS devices and implantable VNS devices,
Based on the end-user, the peripheral nerve stimulators market has been
segmented into ambulatory surgical centers, hospitals, and others.
Market Players
MRFR profiled key players operating in the vagal nerve
stimulation market are Inspire Medical Systems, Inc. (US), Cyberonics, Inc.
(US), ElectroCore Medical LLC (US), Boston Scientific Corporation (US),
NeuroMetrix, Inc. (US), ImThera Medical (US), LivaNova PLC (UK), and
EnteroMedics Inc. (US).
Regional Analysis
Based on the region, the vagal nerve stimulation market research report has
been segmented into the Americas, Europe, Asia Pacific, and the Middle East
Asia and Africa.
The surge in patient pool afflicted with
neurological disorders like epilepsy, depression, and migraine, the increase in
healthcare expenditure, and the rising support by the government for research
and developmental activities in the Americas are factors anticipated to fuel
the regional vagal nerve stimulation market growth over the assessment period.
The increasing medical attention of government
agencies towards treating disorders like depression, epilepsy, and heart
attacks is likely to aid the vagal nerve stimulation market to expand in Europe
over the review period. The surge in public awareness about the devices is
expected to increase its adoption, hence, escalate the European vagal nerve
stimulation market growth. MRFR predicts that Europe is to hold a considerable
market share over the assessment period.
The vagal nerve stimulation market in the Asia
Pacific region is anticipated to exhibit the fastest growth over the assessment
period. Due to hike in healthcare expenditure, rapidly growing economy, and
technical upgradations in India and China, the regional market growth is likely
to experience a boom. Japan, boasting of its firm technical infrastructure and
increase in the government’s initiatives supporting research and developmental
activities are bolstering the vagal nerve stimulation market expansion in the
region.
Owing to the limited healthcare facilities in the
Middle East & Africa, the vagal nerve stimulation market is predicted to
show moderate growth over the evaluation period.
Industry News
In February 2019, the U.S. Centers for Medicare &
Medicaid Services (CMS) confirmed its national coverage determination (NCD) for
the LivaNova Plc.’s vagal nerve stimulation therapy (VNS Therapy) System used
to manage treatment-resistant depression (TRD).
This initiative is expected to boost the adoption of the therapy, hence,
impel the vagal nerve stimulation market growth.
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