Vagus nerve stimulation (VNS) is a medical treatment in which electrical impulses are delivered to the vagus nerve to manage and treat a variety of diseases, including epilepsy and depression. Vagus nerve stimulants are devices that are used to stimulate the vagus nerve with electrical impulses. Vagus nerve stimulants are classified into two types: implantable devices and external equipment. The implantable vagus nerve Stimulators is a medical device that is surgically implanted in the body. External equipment is a non-invasive, non-surgical vagus nerve stimulant. Various major players in the market are involved in the development of such easy-to-use external vagus nerve stimulants for various signals.
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Global Vagus Nerve Stimulators Market: Drivers
Vegas nerve stimulators are widely used to manage and treat diseases such as epilepsy, depression and migraines. The increasing rate of such diseases in major regions is likely to increase the global vagus nerve stimulators market in the estimated period. For example, in 2016, depression was one of the most common mental disorders in the US, according to data published by the National Institutes of Mental Health. An estimated 16.2 million adults in the US had at least one major cause of depression. This figure represents 6.7% of all US adults.
Frequent approvals and launches of new vagus nerve stimulants are likely to boost the growth of the global vagus nerve stimulators market. LivaNova Plc. was approved by the USFDA in June 2017, for its VNS therapy system, to treat patients under the age of four with partial-initiated seizures, which prohibits antipyretic drugs.
electroCore, Inc. launched gammaCore (a vagus nerve Stimulators) in July 2017, for acute treatment of episodic cluster headache-related pain in adult patients in the US. gammaCore is a non-invasive, hand-held medical device that is attached to the neck and sends gentle, patented electrical stimulation through the skin to activate the vagus nerve, resulting in reduced pain.
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Likewise, according to figures published in 2018 by the World Health Organization, approximately 2.4 million people worldwide are diagnosed with epilepsy each year. In developed countries, there are between 30 and 50 new cases per 100,000 people each year.
The size of the global vagus nerve stimulators market was valued at US$ 445.1 million in 2018, and during the estimated period (2018-2026) it is likely to witness a CAGR of 9.0%.
Global Vagus Nerve Stimulators Market: Key Restraints
Vagus nerve stimulators are approved by regulatory authorities for the treatment of various disorders like epilepsy, migraine, and depression. However, there are many alternative treatment options like anticonvulsants, antidepressants, antiepileptic drugs, pharmaceutical drugs, and others.
Moreover, most of these drugs have lost patent protection and leading generic manufacturers have made cheaper generic versions available in the market. Doctors, as well as patients, prefer cheaper medicines than medical devices. Therefore, the presence of affordable alternative treatment options for the treatment of these diseases is a major factor hindering the adoption of vagus nerve stimulants and, in turn, is likely to hinder the growth of the global vagus nerve stimulators market over an estimated period of time.
Global Vagus Nerve Stimulators Market: Regional Analysis
Asia Pacific is likely to be a potential growth destination for the global vagus nerve Stimulators market. LivaNova PLC is one of the leading players in the global vagus nerve stimulators market with a variety of products, earning 84% of its revenue from the US and the rest from other economies. Emerging economies such as Asia Pacific, the Middle East and Africa have very low penetration rates for vagus nerve Stimulators.
Although, the high incidence of migraine, depression and epilepsy in major Asia Pacific economies such as China, India and Australia, and the growing healthcare awareness and spending in these economies, indicate potential opportunities for vagus nerve stimulants. For example, according to figures published by the Commonwealth Fund, in 2014, China invested about US $ 992 billion in healthcare, 30% from central and local governments and 38% from publicly funded health insurance and private health insurance or social health donations.
Furthermore, according to the World Health Organization, 2018, about 3/4 of the population living in developing countries suffering from epilepsy do not receive the treatment they need, in which such medical devices can be used. Manufacturers should cooperate with regional government officials to spread awareness about these medical devices, as well as increase the number of distributors to meet customer needs.
Global Vagus Nerve Stimulators Market: Segmentation
On the basis of Product Type, the Global Vagus Nerve Stimulators Market is segmented into:
- Implantable Devices
- External Devices
On the basis of Application, the Global Vagus Nerve Stimulators Market is segmented into:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
On the basis of End User, the Global Vagus Nerve Stimulators Market is segmented into:
- Hospital
- Specialty Pharmacy
- Others
On the basis of Distribution Channel, the Global Vagus Nerve Stimulators Market is segmented into:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
On the basis of Region, the Global Vagus Nerve Stimulators Market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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Global Vagus Nerve Stimulators Market: Competitive Landscape
Key players performing in the global vagus nerve Stimulators market are tVNS Technologies GmbH, Nervana, LLC, Parasym Ltd., Beijing PINS Medical Co., Ltd., MicroTransponder, Inc., SetPoint Medical Corporation, LivaNova, PLC, and electroCore, Inc.
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Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Novel Product Launch/Approval
- PEST Analysis
- Porter’s Analysis
- Reimbursement Scenario
- Market Dynamics
- Global Vagus Nerve Stimulators Market, By Product Type, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Implantable Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- External Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Introduction
- Global Vagus Nerve Stimulators Market, By Application, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Epilepsy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Depression
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Cluster Headache & Migraine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Introduction
- Global Vagus Nerve Stimulators Market, By Distribution Channel, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Hospital
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Specialty Pharmacy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Introduction
- Global Vagus Nerve Stimulators Market, By Region, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Africa
- Central Africa
- South Africa
- North Africa
- Middle East
- GCC
- Israel
- Rest of Middle East
- Introduction
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