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Neurostimulation Therapy Is Fastest Growing Segment Fueling The Growth Of Vagus Nerve Stimulators Market

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Pooja Khodke
Neurostimulation Therapy Is Fastest Growing Segment Fueling The Growth Of Vagus Nerve Stimulators Market

The global Vagus Nerve Stimulators Market is estimated to be valued at Us$ 684.85 Mn in 2023 and is expected to exhibit a CAGR Of 9.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Vagus nerve stimulation therapy helps in managing symptoms of epilepsy, depression and other neurological and psychiatric disorders by delivering mild pulses of electrical energy to vagus nerve which runs through the head and neck area. This helps in improving effective communication between brain and different parts of body.


Market key trends:


Rise in prevalence of neurological and psychiatric disorders such as epilepsy, depression and chronic heart failure along with favorable reimbursement policies offered by governments are fueling the growth of vagus nerve stimulators market. The market is witnessing strong demand for minimally invasive VNS therapies for treatment of various conditions. Technological advancements in neuromodulation devices which enable usage of smart phone-enabled programming features are also supporting the market growth. Focus on development of multi-indicated VNS devices for additional therapeutic applications beyond epilepsy and depression is one of the key emerging trends in this market.


Segment Analysis


The global Vagus Nerve Stimulators market is segmented into implantable VNS devices and external VNS devices. The implantable VNS devices segment currently dominates the market, owing to the effectiveness and long-term benefits offered by implantable devices for treating neurological disorders such as epilepsy and depression. The implantable VNS devices segment accounted for around 70% market share in 2022.


Key Takeaways


The Global Vagus Nerve Stimulators Market Size is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period 2023 to 2030, due to increasing prevalence of neurological disorders globally and growing adoption of neurostimulation therapy.


North America currently dominates the global Vagus Nerve Stimulators market due to presence of major players and established healthcare infrastructure. However, Asia Pacific is expected to be the fastest growing region owing to rising geriatric population and increasing healthcare spending in the region.


Key players operating in the Vagus Nerve Stimulators market are LivaNova PLC, electroCore, Inc., SetPoint Medical Corporation, Beijing PINS Medical Co., Ltd., Parasym Ltd., Nervana, LLC, tVNS Technologies GmbH, BioControl Medical, NeurAxis, Inc., Soterix Medical Inc., MicroTransponder Inc., Boston Scientific Corporation, Cyberonics, Inc., EnteroMedics Inc., ReShape Lifesciences Inc., and Cerbomed GmbH. LivaNova PLC currently holds the leading market position.


Read  More :  https://www.newsstatix.com/the-growing-applications-of-vagus-nerve-stimulators-is-anticipated-to-open-up-new-avenues-for-the-vagus-nerve-stimulators-market/

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