Vagus Nerve Stimulator Market is Poised to Thrive at CAGR of 10.1% During 2022-2031 | TMR Study

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The global vagus nerve stimulator market growth is driven by the increase in the prevalence of epilepsy and anxiety disorders. North America is expected to account for major share during the forecast period.

Wilmington, Delaware, United States, April 18, 2023 (GLOBE NEWSWIRE) — The global vagus nerve stimulator market size was worth USD 444.7 Mn in 2021 and is anticipated to exceed value of USD 1.1 Bn by 2031. The global industry is estimated to expand at a CAGR of 10.1% during the forecast period, from 2022 to 2031.

Growth of the global vagus nerve stimulator market is driven by the rise in incidence of anxiety and epileptic disorders. Vagus nerve stimulation (VNS) devices provide gentle electrical impulses to stimulate the vagus nerve and treat epilepsy and depression.

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Market Scope:

Report Coverage  Details
Market Revenue  USD 444.7 Mn in 2021
Estimated Value  USD 1.1 Bn by 2031
Growth Rate  10.1%  
Forecast Period  2022–2031
No. of Pages  185 Pages
Market Segmentation  By Product Type, Application, Biomaterial and End-user
Regions Covered  North America, Europe, Asia Pacific, Middle East & Africa, South America
Companies Covered  ReShape Lifesciences, Inc., LivaNova LLC, electroCore, Inc., MicroTransponder Inc., Parasym Ltd., Cerebral Inc., Cerbomed GmbH, Neuvana, LLC, Nevro Corp., and NeuroPace Inc

Anxiety-related disorders, cluster headaches are treated by vagus nerve stimulators. Research and development in sophisticated and efficient vagus nerve stimulators is estimated to fuel market development between 2022 and 2031.

Devices for noninvasive vagus nerve stimulation can be implanted without surgery. Makers of vagus nerve stimulators are introducing cutting-edge non-invasive VNS devices to increase their revenue share.

Vagus nerve is a cranial nerve that travels from brainstem to the stomach. Vagus nerve stimulator is utilized to stimulate the vagus nerve. Patients with epilepsy who use VNS can successfully reduce their seizure occurrence. In certain people, it can also lessen the effects of anxiety and despair.

Global Vagus Nerve Stimulator Market: Growth Drivers

  • Vagus nerve stimulators made with cutting-edge technology provide a more specialized treatment strategy. They can also work better when it comes to lessening incidences and severity of some illnesses. Manufacturers are integrating Internet of Things (IoT) capabilities to offer remote monitoring services and change of stimulation settings. As a result, accessibility of IoT-enabled products is projected to boost industry growth in the next few years.

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Key Findings of Market Report

  • Based on product type, the implantable segment accounted for the largest market share in 2021. Usage of implantable vagus nerve stimulators during surgery is widely regarded as safe and beneficial.
  • Based on application, the epileptic seizures segment held significant market share of the global industry in 2021. The global market is expected to observe considerable growth, as people become more aware of epilepsy and its treatments. The segment is also being driven by the implementation of new rules and easy availability of funds for treating epileptic seizures.
  • In terms of end-user, the hospitals segment dominated the global vagus nerve stimulator market in 2021. This can be ascribed to the presence of a strong healthcare system and rise in demand for hospital-based chronic epilepsy treatment. Increase in healthcare spending and greater availability of implanted vagus nerve stimulator are anticipated to drive business opportunities in the segment.

Global Vagus Nerve Stimulator Market: Regional Landscape

  • In terms of region, North America is anticipated to hold significant share of the market between 2022 and 2031. Rise in government funding and increase in public awareness of epilepsy and mental health are expected to drive business growth in the region.
  • The market in Asia Pacific is anticipated to expand significantly between 2022 and 2031. High incidences of obesity, epilepsy, anxiety, and depression is likely to drive market demand for vagus nerve stimulator in the region. Many countries in Asia Pacific are investing substantially in the construction of healthcare infrastructure.

Global Vagus Nerve Stimulator Market: Key Players

  • Cerbomed GmbH
  • ReShape Lifesciences, Inc.
  • MicroTransponder Inc.
  • Neuvana, LLC,
  • Parasym Ltd.
  • LivaNova LLC

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Global Vagus Nerve Stimulator Market: Segmentation

Product Type

  • Implantable
  • Non-invasive (tVNS)

Application

  • Pain Management
  • Epileptic Seizures
  • Obesity Management
  • Depression and Anxiety
  • Others

Biomaterial

  • Ceramics
  • Metallic
  • Polymeric

End-user

  • Hospitals
  • Ambulatory Surgical Centers (ASCs)
  • Others

Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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