Vagal Nerve Stimulation (VNS) Market Highlights:
Vagus nerve stimulation is a treatment for neurological disorders like epilepsy that involves a stimulator or pulse generator, which is placed inside the body and connected to the left vagus nerve in the neck. The stimulator sends regular, mild electrical stimulations through this nerve to help calm down the irregular electrical brain activity that leads to seizures.
The global vagal nerve stimulation or vagus nerve stimulation market is expected to grow at a CAGR of ~ 8.68 % during the forecast period 2017-2023.
According to Migraine Research Foundation, (2014), migraine was the 3rd most prevalent illness in the world. Nearly 1 in 4 U.S. households includes someone with migraine. Moreover, 12% of the population including children have migraine problem. 18% of American women, 6% of men, and 10% of children experience migraines. Mostly migraine occurs at the age of 25-55.
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The global vagal nerve stimulation market is segmented on the basis of products, application, and end user.
On the basis of products, the market is segmented into implantable VNS devices and external VNS devices.
On the basis of application, the market is segmented into depression, epilepsy, migraine, and others.
On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers, and others.
Vagal Nerve Stimulation (VNS) Market Information: By Product (Implantable VNS Devices and External VNS Devices), By Application (Depression, Epilepsy, Migraine, And Others), By End Users (Hospitals, Ambulatory Surgical Centers, And Others) – Global Forecast Till 2023.
Competitive Analysis by Major Key Players
Some of key the players in the market are LivaNova PLC (UK), EnteroMedics Inc. (US), ElectroCore Medical LLC (US), Boston Scientific Corporation (US), Cyberonics, Inc. (US), NeuroMetrix, Inc.(US), ImThera Medical (US), and Inspire Medical Systems, Inc.(US).
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Comprehensive Regional Analysis
The Americas dominates the global vagal nerve stimulation market owing to the presence of huge patient population with neurological disorder such as depression, epilepsy, and migraine, high healthcare spending, and increasing government support for research & development.
Europe holds the second largest share of the global vagal nerve stimulation market. The increasing focus of various government agencies on treating epilepsy, depression, and heart attacks will have a positive impact on the growth of the market. The growing public awareness will boost the adoption of these devices in the Europe market.
Asia Pacific is the fastest growing vagal nerve stimulation market across the globe. Japan holds the major share of the regional market due to availability of technology and huge healthcare spending. Rapidly developing economy, increasing healthcare expenditure, and government initiatives for research & development will drive the market in China and India over the assessment period.
The Middle East & Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.