Vagus Nerve Stimulation Market is Estimated to Reach with a USD 2,424.01 million by 2029 at a CAGR of 15%

A worldwide Vagus Nerve Stimulation Market research report is a verified and reliable source of information that gives a telescopic view of the existing market trends, emerging products, situations, and opportunities that drives the business toward success. This global market research report is organized by collecting market research data from different corners of the globe with an experienced team of language resources. The report serves the clients to tackle every strategic aspect including product development, product specification, exploring niche growth opportunities, application modeling, and new geographical markets. The universal market report also provides company profiles and contact information of the key market players in the key manufacturer's section.

The vagus nerve is a prominent component of the autonomic nervous system that regulates metabolic homeostasis and functions as a crucial component of the neuroendocrine-immune axis in maintaining homeostasis via its afferent and efferent pathways. Any approach that stimulates the vagus nerve, including manual or electrical stimulation, is referred to as Vagus Nerve Stimulation (VNS). For refractory epilepsy and treatment-resistant depression, left cervical VNS is an approved therapy.

According to the WHO, neurological diseases are responsible for 4.5% to 11% of all illnesses worldwide. Vagus nerve stimulators are also used to treat patients suffering from epilepsy, depression, asthma, and cardiovascular disorders.

The global vagus nerve stimulation market is expected to grow in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 15.0% in the forecast period of 2022 to 2029 and is expected to reach USD 2,424.01 million by 2029.

The vagus nerve is a long cranial nerve that runs from a person's brain stem into the neck, chest, and abdomen. It is a part of the parasympathetic nervous system, which is commonly referred to as the rest-and-digest system because it regulates body functions while a person is at rest. It delivers messages to a person's brain from their digestive system and organs such as their lungs, heart, and liver. It controls several organ functions, including digestion, heart rate, and respiratory rate. It is responsible for vasomotor activity and reflexes. It also regulates vocalization, mood, and immunity. It influences sensory functions in a person's ears, sinuses, and esophagus as well.

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Market Dynamics: Global Vagus Nerve Stimulation Market

Drivers

Increasing prevalence and incidence of neurological disorders

Neurological disorders cause 4.5% to 11% of all illnesses, whether in low or high-income countries. The impact is greater compared to that of malignancies, gastrointestinal diseases, or respiratory illnesses, and it is expected to grow over the next years. In the U.S., neurological illnesses have also seen a significant rise, and over the next 20 years, this growth tendency is anticipated to continue. The prevalence of these neurological illnesses has been reported to range from 0.9% to 4% (970-4100 per 100,000 population), with an average of roughly 2.3% (2390 per 100,000 population). One of the most common neurological conditions, epilepsy, affects almost every country on earth. Most people with this illness are seen among populations in nations like China and India. Due to this rising prevalence, there is a rising demand for a variety of tools and treatments, such as VNS. More neurological problems are being treated with VNS. In addition to other clinical uses, it aids in the treatment of neurological conditions like epilepsy and depression due to the significant prevalence of neurological conditions worldwide.

Innovative non-invasive vagus nerve stimulation devices introduced to meet demand

Traditional and conventional VNS devices are implanted in the patient's body and leads are placed on the vagus nerves that provide electrical stimulation when required. Growing demand and technological advancement of innovative devices lead to the introduction of small-sized implantable VNS devices in the market. These small-sized implantable devices offer various clinical benefits to patients and healthcare providers. The introduction of innovative devices is anticipated to boost market growth.

Constant focus by market players to innovate and launch new products had led to the emergence of non-invasive VNS (nVNS) devices in the market. These devices are also known as transcutaneous VNS (tVNS) devices.

The rise in product approvals

The approval for VNS devices is governed by the U.S. FDA and the EU. The FDA issues a final protocol for filing a Pre-market Approval Application (PMA) or a notice of completion of a Product Development Protocol (PDP).

Opportunities

Strategic initiatives by the key market players

The demand for VNS devices is increasing in the market owing to the increased levels of R&D; along with that, the market growth is being aided by the desire for innovative medications. Thus, the top market players have implemented new strategies by developing new devices and equipment as well as collaborating with other players in the market and aimed at improving business operations and profitability.

The companies operating globally in this market are adopting collaboration as a strategy to increase their product portfolio with advanced technology-rich products to boost their business in various dimensions. Thus, increasing strategic initiatives by key market players are expected to offer significant opportunities for market players operating in the market.

Rising government initiatives for neurological disease

The purpose of funding for VNS devices is to encourage applications seeking to develop devices for various neurological disorders. Novel devices should move beyond existing electrical or magnetic stimulation and develop new stimulation techniques capable of increased spatiotemporal precision as well as multi-focal, closed-loop approaches. Therefore, the funding by the government would result in the safety of the patient and cost savings. In addition, hospitals and healthcare agencies would administer this treatment at a lower price through collaboration with government organizations. Hence, the advancements in R&D activities and funding by the government will act as an opportunity for this market growth.

Global Vagus Nerve Stimulation Market Scope

Global vagus nerve stimulation market is segmented into six notable segments based on product type, biomaterial, application, patient type, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Product Type

Implantable VNS Devices

External VNS Devices

Biomaterial

Ceramics

Metallic

Polymeric

Application

Pain Management

Epileptic Seizures

Obesity Management

Depression and Anxiety

Others

Patient Type

Adults

Pediatric

Geriatric

End User

Hospital

Ambulatory Surgery Centers

Specialty Centers

Others

Distribution Channel

Direct Tender

Retail Sales

Others

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Global Vagus Nerve Stimulation Market Regional Analysis/Insights

The global vagus nerve stimulation market is analyzed and market size insights and trends are provided by country, product type, biomaterial, application, patient type, end user, and distribution channel as referenced above.

North America dominates the global vagus nerve stimulation market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the high prevalence and incidence of neurological disorders in the region, and growing R&D investments and the launch of new products are boosting the market growth.

The country section of the report also provides individual market-impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of global brands and their challenges faced due to competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Vagus Nerve Stimulation Market Share Analysis

The global vagus nerve stimulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are Medtronic, LivaNova PLC, electroCore, Inc., Cirtec, Brain Control Co. Limited, Soterix Medical Inc., SetPoint Medical, MicroTransponder Inc, Parasym Ltd, Neuropix Company Ltd., and tVNS Technologies GmbH among others.

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Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs. Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.

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