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

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.