Orbis Research Present’s Global Vagus Nerve Stimulation Market 2017-2021 which Examine into the present trends, highlights the recent market growth, sales volume, Demand Scenarios and Opportunities emerging for business players in the near future.
Global Vagus Nerve Stimulation Market to grow at a CAGR of 9.63% during the period 2017-2021
Market Research Report – Global Vagus Nerve Stimulation Market 2017-2021
the following companies as the Key Players in the Global Vagus Nerve Stimulation Market: LivaNova, Enteromedics, and ElectroCore.
Other Prominent Vendors in the market are: Beijing Medical Equipment and BioControl Medica.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is shift of surgeons focus toward minimally invasive VNS procedures. Few years ago, VNS procedures were not popular or limited to few developed countries having high standards of healthcare infrastructure. But now, global exposure and availability of many innovative techniques for learning have increased the knowledge of surgeons about VNS devices. Increased communication among the medical fraternity across countries through various media like medical conferences and industrial exhibitions have made the surgeons receive updates about VNS devices. In the Americas, countries like the US and Canada have listed surgeries involving VNS devices in revenue generating category. The patients having resistance toward anti-epileptic drugs are being treated with VNS devices. Simultaneously, the focus of surgeons is increasing to minimize the side effects observed while using these devices.”
According to the report, one driver in market is favorable reimbursement and insurance approval policies. For any device to penetrate the market and later to sustain, depends on various factors, such as, positive results on using the device, user-friendliness, and cost of the device, low side effects, and favorable reimbursement policies. In case of VNS devices, most of the conditions are fulfilled, though some variations are observed based on the type of device. The market growth is expected to increase mainly due to the favorable reimbursement, leading to an increased application and significant investments in development of new technologies for the treatment of epilepsy, and other cardiac indications. As per the Centers for Medicare & Medicaid Services (CMS) coverage database, spinal cord stimulators are covered under reimbursement when criteria are met.
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Further, the report states that one challenge in market is high maintenance and low battery lifetime. Battery enables the VNS system to operate for few years without any need of recharge or replacements. Though there are few factors that can drain the battery’s power. For instance, battery usage, battery chemistry, usage pattern, and self-discharge can drain the battery. VNS devices use battery power to control the motor neuron. To control dystonic symptom, involuntary muscle contraction that can cause slow and repetitive movement, consumes high battery power. These batteries can wear out in 7 to 10 years. Batteries are implanted in implantable VNS device that provides power to neural stimulation and to keep the device working. For VNS system, a neurostimulator is implanted in the chest.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.