The global vagus nerve stimulators market is expected to grow at a CAGR of 8.5% in the forecast period 2019-2026.
The global market for the vagus nerve stimulators market is primarily driven by rising prevalence of neurological disorders, growing demand for advanced medical devices for the treatment, and increasing investment of biotechnology and pharmaceutical indus
(EMAILWIRE.COM, November 14, 2019 ) Market Overview
• Vagus Nerve Stimulation (VNS) is a medical treatment which involves delivering electrical impulses to the vagus nerve, the longest and most complex of the 12 pairs of cranial nerves that emanate from the brain. Vagus nerve stimulators are devices used in treatment of intractable epilepsy and treatment-resistant depression.
Market Dynamics
• Neurological disorders are an emerging challenge to health care systems globally, requiring further study, government and social engagement, and improvements in health care infrastructure. According to the WHO estimates, neurological disorders are responsible for 4.5%-11% of all illnesses including low or high income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to increase further over the coming years. Neurological disorders contribute to 92 million DALYs in 2005 projected to increase to 103 million in 2030 (approx. a 12% increase). While Alzheimer and other dementias are projected to show a 66% increase from 2005 to 2030, there is an estimated 57% decrease in DALYs associated with poliomyelitis, tetanus, meningitis and Japanese encephalitis combined.
• However, higher cost of the stimulator devices and treatment is restraining the growth of the vagus nerve stimulators market. For instance, according to Epilepsy Foundation, VNS therapy currently costs approximately 30,000 US$, which includes the implant and surgical procedure and is highly uneconomical for the people/patients living in low income economies.
Market Segmentation
• On the basis of type, the implantable VNS devices accounted for the largest market share in 2018 and is expected to remain dominant over the forecast period, 2019-2026. Implantable VNS devices are the highest revenue generating segment in vagus nerve stimulator market as the vagus nerve stimulator implanted devices are currently being approved for the treatment of refractory epilepsy and depression only. Additionally, results from many ongoing clinical studies are in pipeline. The use of implantable vagus nerve stimulators is associated with major complications such as cardiac dysrhythmias, both at the time of implantation and post-operative implantation. After examining the effects in 130 patients implanted with a vagus nerve stimulators between 2000 and 2013, it was observed that there is an increased response rate from 22.1 to 43.8% from the first to fifth year of vagus nerve stimulators implantation.
• By application, the Epilepsy held the largest market share in 2018. According to WHO (World Health Organization), more than 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally, and nearly 80% of people with epilepsy live in low- and middle-income countries in 2019. For the treatment of epilepsy, the demand for VNS devices is increasing. For instance, in Sept 2018, a new system of vagus nerve stimulation (VNS) therapy was implanted in the first patient with drug-resistant epilepsy, as part of a global registry launched by LivaNova to evaluate the treatment in a real-world setting.
Geographical Share
• The North America region occupied the largest market share of the global vagus nerve stimulators market in 2018, and expected to remain dominant over the forecast period, due to increase in advanced healthcare system along ease of availability of medical devices.
• Europe and Asia Pacific are also growing rapidly with growing market value over the forecast period. Owing to increased government support and high awareness among consumers for advanced healthcare and research in medicine are driving the growth of the vagus nerve stimulators market in Europe. Asia Pacific market is growing at a high CAGR over the forecast period due to rising incidence of neurological disorders of various types in this region. In addition, governments in emerging economies are increasingly extending support for advanced healthcare practices, hence fuelling the demand for vagus nerve stimulators in this region.
Competitive Trends
• Key players in the Vagus Nerve Stimulators market includes Medtronic PLC, Electrocore LLC, Livanova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Biocontrol Medical, Bioness Inc., Enteromedics Inc., Nevro Corporation, and Neuropace Inc.
• The key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with increased focus on R&D are other ways the leading players improve their market presence. 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.
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About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
• Vagus Nerve Stimulation (VNS) is a medical treatment which involves delivering electrical impulses to the vagus nerve, the longest and most complex of the 12 pairs of cranial nerves that emanate from the brain. Vagus nerve stimulators are devices used in treatment of intractable epilepsy and treatment-resistant depression.
Market Dynamics
• Neurological disorders are an emerging challenge to health care systems globally, requiring further study, government and social engagement, and improvements in health care infrastructure. According to the WHO estimates, neurological disorders are responsible for 4.5%-11% of all illnesses including low or high income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to increase further over the coming years. Neurological disorders contribute to 92 million DALYs in 2005 projected to increase to 103 million in 2030 (approx. a 12% increase). While Alzheimer and other dementias are projected to show a 66% increase from 2005 to 2030, there is an estimated 57% decrease in DALYs associated with poliomyelitis, tetanus, meningitis and Japanese encephalitis combined.
• However, higher cost of the stimulator devices and treatment is restraining the growth of the vagus nerve stimulators market. For instance, according to Epilepsy Foundation, VNS therapy currently costs approximately 30,000 US$, which includes the implant and surgical procedure and is highly uneconomical for the people/patients living in low income economies.
Market Segmentation
• On the basis of type, the implantable VNS devices accounted for the largest market share in 2018 and is expected to remain dominant over the forecast period, 2019-2026. Implantable VNS devices are the highest revenue generating segment in vagus nerve stimulator market as the vagus nerve stimulator implanted devices are currently being approved for the treatment of refractory epilepsy and depression only. Additionally, results from many ongoing clinical studies are in pipeline. The use of implantable vagus nerve stimulators is associated with major complications such as cardiac dysrhythmias, both at the time of implantation and post-operative implantation. After examining the effects in 130 patients implanted with a vagus nerve stimulators between 2000 and 2013, it was observed that there is an increased response rate from 22.1 to 43.8% from the first to fifth year of vagus nerve stimulators implantation.
• By application, the Epilepsy held the largest market share in 2018. According to WHO (World Health Organization), more than 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally, and nearly 80% of people with epilepsy live in low- and middle-income countries in 2019. For the treatment of epilepsy, the demand for VNS devices is increasing. For instance, in Sept 2018, a new system of vagus nerve stimulation (VNS) therapy was implanted in the first patient with drug-resistant epilepsy, as part of a global registry launched by LivaNova to evaluate the treatment in a real-world setting.
Geographical Share
• The North America region occupied the largest market share of the global vagus nerve stimulators market in 2018, and expected to remain dominant over the forecast period, due to increase in advanced healthcare system along ease of availability of medical devices.
• Europe and Asia Pacific are also growing rapidly with growing market value over the forecast period. Owing to increased government support and high awareness among consumers for advanced healthcare and research in medicine are driving the growth of the vagus nerve stimulators market in Europe. Asia Pacific market is growing at a high CAGR over the forecast period due to rising incidence of neurological disorders of various types in this region. In addition, governments in emerging economies are increasingly extending support for advanced healthcare practices, hence fuelling the demand for vagus nerve stimulators in this region.
Competitive Trends
• Key players in the Vagus Nerve Stimulators market includes Medtronic PLC, Electrocore LLC, Livanova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Biocontrol Medical, Bioness Inc., Enteromedics Inc., Nevro Corporation, and Neuropace Inc.
• The key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with increased focus on R&D are other ways the leading players improve their market presence. 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.
Enquire Before Purchase: https://www.datamintelligence.com/eqnuiry/vagus-nerve-stimulators-market
Download free sample: https://www.datamintelligence.com/download-sample/vagus-nerve-stimulators-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results