USD 435 million
Vagus Nerve Stimulation Market Size, Share, Growth Analysis, By Product(Implantable VNS Device, External VNS Device), By Application(Epilepsy, Depression, Migraine), By Biometrical(Metallic, Ceramics, Polymeric), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2569 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
89
|Figures:
76
Vagus Nerve Stimulation Market Insights
Global Vagus Nerve Stimulation Market size was valued at USD 435 million in 2022 and is poised to grow from USD 482.85 million in 2023 to USD 1112.75 million by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).
Several pivotal factors are propelling the growth of the vagus nerve stimulation (VNS) market. These encompass the burgeoning elderly population, the introduction of technologically sophisticated products, mounting demand for VNS as a supplementary therapy, a heightened incidence of chronic ailments like migraines and epilepsy, and the conspicuous presence of unmet medical necessities within these ailment categories. Additionally, the escalating prevalence of neurological and lifestyle-linked disorders, external funding driving research and development initiatives, and the desire for less invasive surgical interventions are further galvanizing the expansion of the VNS industry.
These devices have demonstrated a 50% reduction in epileptic seizures. The substantial efficacy exhibited by VNS devices in epilepsy management, as well as their utility in treating chronic depression, are poised to be significant growth catalysts over the ensuing six years.
Nevertheless, market growth faced challenges due to reduced procedural volumes in 2020, attributed to access restrictions in hospitals amidst the pandemic. Nonetheless, the escalating teleconsultation practices for follow-ups and routine evaluations addressing epilepsy symptoms during the pandemic have substantially contributed to market improvement.
Moreover, the mounting prevalence of neurological disorders such as epilepsy, depression, and migraines, alongside the ascent of minimally invasive neurosurgical interventions, underscore the primary drivers propelling the global VNS market. According to the World Health Organization, neurological ailments contribute significantly to the global disease burden, and their impact on mortality is profound across developed and developing nations alike.
US Vagus Nerve Stimulation Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Metallic
Fastest Growth
Metallic
Growth Rate
11% CAGR
Global Vagus Nerve Stimulation Market ($ Bn)
Country Share for North America Region (%)
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Vagus Nerve Stimulation Market Segmental Analysis
The global vagus nerve stimulation market is segmented on the basis of product, application, biomaterial, end - use, region. By product, the market is segmented implantable VNS device, external VNS device. By application, the market is segmented into epilepsy, depression, migraine. By biomaterial, the market is segmented into metallic, ceramics, polymeric. By end - use, the market is segmented into hospitals, neurology clinics, ambulatory surgical centers, research centers. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Vagus Nerve Stimulation Market Analysis By Product
The implantable VNS device segment exhibited market dominance in 2022, commanding a substantial revenue share of over 59.0%. This ascendancy can be attributed to the growing patient population grappling with various maladies like headaches, depression, and epilepsy. Implantable VNS devices hold a distinct advantage in their capacity to precisely target pain points. By delivering electrical stimulation directly to specific nerves, these devices efficiently modify nerve activity, rendering them a more potent modality for disease management.
The vagus nerve stimulation market, segmented by product into implantable and external VNS devices, showcases notable dynamics. The implantable VNS device niche is a critical resource for individuals who have not responded to conventional treatments, including anti-seizure medications and intensive depression therapies such as psychotherapy, antidepressants, and electroconvulsive therapy (ECT). On the other hand, the external VNS device sector is projected to experience the most rapid growth, with a noteworthy CAGR of 11.9% from 2023 to 2030. This rise can be attributed to an escalating number of patients afflicted with chronic disorders, an upsurge in the preference for non-invasive therapies, and the economic viability of the device.
The trajectory towards non-invasive solutions stems from the perceived adverse events linked to implantable VNS devices, both from the surgical procedure and the electrical stimulation itself. In response, non-invasive vagus nerve stimulators (nVNS) emerged to rectify the limitations of their invasive counterparts. Notable among these non-invasive options are the GammaCore Sapphire by ElectroCore and the Parasym device by Parasym Ltd., both aimed at delivering efficacious vagus nerve stimulation while circumventing the drawbacks associated with invasive approaches. This shift towards non-invasive devices aligns with the growing trend of patient preference and is expected to propel market growth in the forecast period
Vagus Nerve Stimulation Market Analysis By Biomaterial
The metallic biomaterials segment held sway over the market landscape in 2022, commanding a revenue share surpassing 49.0%. This dominance stems from profound progress and Research and Development (R&D) strides made in the domain of vagus nerve stimulation therapies. Anticipations also indicate that this segment will persist in its prominent position until 2030. Metallic biomaterials find a prolific application in medical devices, notably implantable ones, a preference attributed to their thermal conductivity and robust mechanical attributes. Metals such as 316L stainless steel, various titanium-based alloys, gold, tantalum, silver, platinum, and cobalt-chromium alloys are favored for coating electrical implantable devices due to their anti-inflammatory properties.
In contrast, the polymeric segment is projected to record the most substantial growth rate, soaring at an impressive 11.6% from 2023 to 2030. This progress can be ascribed to the inherent flexibility advantages that polymers offer. Amid the global surge in the prevalence of stress and depression, polymers exhibit their efficacy by adapting into supportive structures encompassing electro-spun matrices, nerve conduits, and scaffolds. Their regenerative potential for damaged neural tissues underscores their prominence. Notably, polymers are an integral component in medical implantable devices, extending a wide spectrum of shapes and mechanical traits, prominently biocompatibility and bioactivity. These attributes collectively pave the way for segment expansion over the forecast period.
Global Vagus Nerve Stimulation Market By Biomaterial
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Vagus Nerve Stimulation Market Regional Insights
In 2022, North America asserted its dominance in the vagus nerve stimulation market, commanding a substantial share of 59.92%. This commanding presence can be attributed to several factors, notably the escalated allocation of government funds and initiatives aimed at enhancing awareness about epilepsy and challenging-to-treat depression within the region. Moreover, the region's accelerated stride in technological advancements, the notable concentration of key manufacturers, heightened investments in Research and Development (R&D), and an upsurge in governmental funding and initiatives collectively shape a landscape ripe with growth opportunities. These factors stand as cornerstones poised to propel the market towards significant expansion.
Conversely, the Asia Pacific region is poised to undergo substantial expansion, manifesting a compelling CAGR of 11.6% from 2023 to 2030. This upswing is attributed to the mounting prevalence of neurodegenerative disorders across the region, compounded by a discernible unmet need for effective and sustainable solutions. The region's heightened awareness about treatment options for neurological diseases and the refinement of clinical development frameworks within emerging economies converge to nurture an environment conducive to market expansion.
Further reinforcing the growth trajectory, developing countries such as Japan, China, and India emerge as crucibles of high-growth opportunities. The establishment of notable organizations like the Asia-Pacific Centre for Neuromodulation (APCN), mandated to spearhead research endeavors and propagate awareness regarding the manifold benefits of vagus nerve stimulation, is poised to act as a significant catalyst augmenting regional growth. As the Asia Pacific region positions itself on the precipice of transformative advancements in the healthcare sector, the vagus nerve stimulation market is set to thrive, catalyzed by a confluence of factors that stimulate awareness, innovation, and growth.
Global Vagus Nerve Stimulation Market By Geography
- Largest
- Fastest
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Vagus Nerve Stimulation Market Dynamics
Vagus Nerve Stimulation Market Drivers
Increasing Geriatric Population
- The growing elderly population is susceptible to various neurological ailments, driving the demand for innovative treatment approaches like VNS to enhance their quality of life.
Government Funding and Initiatives
- Government funding and initiatives aimed at raising awareness about neurological disorders and promoting innovative treatment solutions have provided impetus to the VNS market growth.
Unmet Medical Needs
- The presence of unmet medical needs in treating refractory epilepsy and treatment-resistant depression has spurred the adoption of VNS devices, driving market expansion.
Vagus Nerve Stimulation Market Restraints
High Costs
- The costs associated with VNS implantation procedures and device maintenance can be substantial, leading to affordability challenges for some patients and healthcare systems.
Limited Reimbursement Policies
- Inadequate reimbursement policies for VNS procedures in certain regions hinder access to the therapy, particularly for patients with financial constraints.
Adverse Events and Risks
- Implantable VNS devices may pose risks related to the surgical procedure and electrical stimulation, limiting their adoption due to patient concerns about adverse events.
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Vagus Nerve Stimulation Market Competitive Landscape
The competitive landscape of the global vagus nerve stimulation (VNS) market is characterized by a blend of established medical device manufacturers, innovative start-ups, and strategic collaborations. Leading companies such as LivaNova PLC, ElectroCore LLC, and EnteroMedics Inc. dominate the market due to their extensive product portfolios, significant investments in R&D, and established market presence. These key players focus on continuous product development, technological advancements, and expanding their geographical reach to maintain a competitive edge.
The market also witnesses the active participation of emerging players, often specializing in specific segments of VNS devices or targeting niche applications. These entrants bring innovation and fresh perspectives, driving the evolution of VNS therapies. Collaborations between established players and start-ups are becoming common, aiming to leverage complementary strengths and accelerate the development of novel solutions.
Vagus Nerve Stimulation Market Top Player’s Company Profiles
- LivaNova PLC (United Kingdom)
- ElectroCore LLC (United States)
- EnteroMedics Inc. (United States)
- Boston Scientific Corporation (United States)
- NeuroMetrix Inc. (United States)
- Cyberonics, Inc. (a subsidiary of LivaNova PLC) (United States)
- SetPoint Medical Corporation (United States)
- Inspire Medical Systems, Inc. (United States)
- NeuroPace, Inc. (United States)
- NeuroSigma, Inc. (United States)
- Vagus Nerve Stimulation Ltd. (Israel)
- Endonovo Therapeutics, Inc. (United States)
- Nevro Corp. (United States)
- BioControl Medical (Israel)
- Helius Medical Technologies, Inc. (United States)
- Vivonics, Inc. (United States)
- Bioness Inc. (United States)
- Beijing Demax Medical Technology Co., Ltd. (China)
- Neurowave Systems Inc. (Canada)
- Nobel Biocare Services AG (Switzerland)
Vagus Nerve Stimulation Market Recent Developments
- In March 8, 2023: LivaNova announced that it had received FDA approval for its VNS Therapy System for the treatment of epilepsy in pediatric patients aged 4 years and older.
- In February 2023, EnteroMedics announced that it had received FDA approval for its Maestro Recurrent Neural Modulator System for the treatment of obesity.
- SenTiva DUO Market-leading medical technology and innovation company LivaNova PLC unveiled SenTiva DUO, an implantable pulse generator (IPG) with a dual-pin header, in February 2023 to provide VNS Therapy for the management of drug-resistant epilepsy.
Vagus Nerve Stimulation Key Market Trends
- Non-Invasive VNS Solutions: The development of non-invasive VNS devices offers a more accessible and patient-friendly alternative, addressing concerns related to invasive procedures and expanding the potential patient pool.
- Personalized Treatment Approaches: Advances in neuroimaging and understanding of neural circuits are driving the trend towards personalized VNS therapies tailored to individual patients' neurological profiles.
- Digital Health Integration: Integration of VNS devices with digital health platforms allows for remote monitoring, data collection, and real-time adjustments, enhancing patient engagement and treatment outcomes.
Vagus Nerve Stimulation Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global vagus nerve stimulation market analysis, the global vagus nerve stimulation (VNS) market is poised for substantial growth, driven by a confluence of factors such as the rising prevalence of neurological disorders, technological advancements, and increasing awareness among both patients and healthcare professionals. The efficacy of VNS in treating chronic conditions like epilepsy and depression, coupled with the potential expansion of its applications to other disorders, underscores its significance in the medical landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 435 million |
| Market size value in 2031 | USD 1112.75 million |
| Growth Rate | 11% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Vagus Nerve Stimulation Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Vagus Nerve Stimulation Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Vagus Nerve Stimulation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Vagus Nerve Stimulation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Vagus Nerve Stimulation Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vagus Nerve Stimulation Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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