According to a new report published by KD Market Insights, titled, “Vagus Nerve Stimulation Market Insights, Trends, Opportunity & Forecast, 2023–2032,” the global vagus nerve stimulation market size is anticipated to witness moderate growth during the forecast period i.e., 2023-2032. Increasing prevalence of neurological disorders and the growing demand for non-pharmacological treatment options. Vagus nerve stimulation is a therapeutic approach that involves the use of implanted devices to stimulate the vagus nerve, offering potential benefits in the management of epilepsy, depression, and other neurological conditions which is the major factors augmenting the growth of the global vagus nerve stimulation market.
The rising adoption of non-pharmacological treatment approaches, especially among patients who do not respond well to medications or have adverse side effects, are further expected to create ample growth opportunities for the global vagus nerve stimulation market during the forecast period i.e., 2023-2032. Moreover, the introduction of innovative non-invasive vagus nerve stimulation devices has propelled market expansion. Government initiatives aimed at addressing neurological diseases, is expected to contribute towards the market growth during the period.
The North America region accounted for the largest share in the global vagus nerve stimulation market in 2022. The region is further projected to continue dominating in the market and also register the highest CAGR in the market during the forecast period. This can be attributed to the high prevalence and incidence of neurological disorders in the region.
According to product type, the implantable VNS device segment accounted for the largest market share in the vagus nerve stimulation market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
The global vagus nerve stimulation market is segmented into product type, application, biomaterial, end use and region. Based on product type, the market is bifurcated into implantable VNS device, external VNS device. Based on application, it is classified into epilepsy, depression, migraine. Based on biomaterial, it is classified into metallic, ceramics, polymeric. Based on end use, it is classified into hospitals, neurology clinics, ambulatory surgical centers, research centers
The global vagus nerve stimulation market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
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- On the basis of product type, the implantable VNS device segment accounted for the largest market share in the vagus nerve stimulation market in 2022 and is further expected to continue with the trend during the forecast period i.e., 2023 – 2032.
- On the basis of region, North America accounted for the largest share in the global vagus nerve stimulation market in 2022. The region is further projected to continue dominating in the market during the forecast period.
- On the basis of region, Asia-Pacific is estimated to account for the second largest share in the market during the forecast period.
Some of the major vagus nerve stimulation companies profiled in the report include Medtronic, LivaNova PLC, electroCore, Inc., Cirtec, Brain Control Co. Limited, Soterix Medical Inc., SetPoint Medical, MicroTransponder Inc, Parasym Ltd, and tVNS Technologies GmbH
