Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Vagus Nerve Stimulators Market, by Product Type (Implantable Devices and External Devices), By Application (Epilepsy, Depression, Cluster Headache & Migraine, and Others), By Distribution Channel (Hospital, Specialty Pharmacy, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 445.1 Mn in 2018 and is expected to exhibit a CAGR of 9.0% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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The increasing regulatory approvals and launches of new vagus nerve stimulators by key players are the factors that are expected to drive the global vagus nerve stimulators market growth over the forecast period. For instance, in November 2018, electroCore, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for an expanded label for gammaCore non-invasive vagus nerve stimulator (nVNS) therapy for adjunctive use for the preventive treatment of cluster headache in adult patients. Similarly, in January 2018, electroCore, Inc. received 510(k) clearance for the same product as an acute treatment of pain associated with migraine in adult patients
Moreover, LivaNova plc. received the U.S. Food and Drug Administration approval for its latest vagus nerve stimulation therapy (‘VNS Therapy’) System, in October 2018, which consists of the SenTiva implantable generator and the next-generation VNS Therapy Programming System indicated for the treatment of patients with drug-resistant epilepsy.
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Additionally, major market players are engaged in robust research and development activities for the development of novel vagus nerve stimulation therapies. Various key players have their vagus nerve stimulators in late phase clinical trial, which are expected to gain regulatory approvals in the near future. Hence, presence of such robust pipeline of new vagus nerve stimulators is expected to augment the vagus nerve stimulators market growth over the forecast period. For instance, in October 2018, SetPoint Medical announced about completion of enrollment in the U.S. Food and Drug Administration (FDA) pilot Investigational Device Exemption (IDE) study, evaluating its proprietary bioelectronic device to treat patients with drug refractory rheumatoid arthritis (RA).
Browse 35 Market Data Tables and 31 Figures spread through 160 Pages and in-depth TOC on Global Vagus Nerve Stimulators Market by Product Type (Implantable Devices, and External Devices), By Application (Epilepsy, Depression, Cluster Headache & Migraine, and Others), By Distribution Channel (Hospital, Specialty Pharmacy, and Others), By Distribution Channel (Hospital, Retail Pharmacy, and Online Pharmacy) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026
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Additionally, key players in the market are focused on expanding their manufacturing capabilities, in order to expand production of vagus nerve stimulators to cater to increasing demand in the market. For instance, in November 2018, electroCore, Inc. expanded its manufacturing capability by establishing a new design, development, and manufacturing facility to fulfill increasing demand for its gammaCore non-invasive vagus nerve stimulator product. The 13,640-square-foot office and manufacturing facility is located at Forge Way Business Center in Rockaway, New Jersey, U.S.
Key Takeaways of the Vagus Nerve Stimulators Market:
- The global vagus nerve stimulators market is expected to exhibit a CAGR of 9.0% over the forecast period (2018-2026), attributed to constant product launches and regulatory product approvals, and robust pipeline of novel vagus nerve stimulators.
- Among region, North America is expected to be a lucrative market over the forecast period. Moreover, the U.S. is expected to hold a dominant position in global vagus nerve stimulators market over the forecast period, attributed to presence of key players and frequent research and development activities to develop and launch novel vagus nerve stimulators in the region. For instance, electroCore, Inc., SetPoint Medical Corporation, MicroTransponder, Inc., and Nervana, LLC. are some of the U.S.-based players involved in development and sale of novel vagus nerve stimulators for different indications.
- Asia Pacific market is expected to witness significant growth over the forecast period, attributed to increasing number of regulatory approvals and launches of novel products in the region. For instance, in 2016, Beijing PINS Medical Co., Ltd. received the China Food and Drug Administration (CFDA) approvals for both adult and children models of vagus nerve stimulation devices.
- Key players operating in the vagus nerve stimulators market include electroCore, Inc., LivaNova, PLC, SetPoint Medical Corporation, MicroTransponder, Inc., Beijing PINS Medical Co., Ltd., Parasym Ltd., Nervana, LLC, and tVNS Technologies GmbH.
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