Vagus Nerve Stimulation Market, by Product (Implantable VNS devices, External VNS devices), by Application (Epilepsy, Depression, Others), by End user (Hospitals, Neurology clinics, Others): Global Opportunity Analysis and Industry Forecast, 2022 - 2032

Vagus Nerve Stimulation Market Research, 2032

The global vagus nerve stimulation market was valued at $488.5 million in 2022, and is projected to reach $836.1 million by 2032, growing at a CAGR of 5.5% from 2023 to 2032. Vagus nerve is a long nerve that runs from the brainstem to the abdomen, and it plays a key role in regulating many physiological functions. Vagus nerve stimulation is a specialized medical treatment that involves the use of an implanted device to deliver electrical impulses to the vagus nerve. This therapy has shown promising results in the treatment of certain neurological and psychiatric conditions. The non-invasive nature of the therapy, its adjustability, and proven efficacy make it an attractive option for many patients and healthcare providers. Vagus nerve stimulators are available in implantable and external VNS devices.

Market Dynamics 

Rise in prevalence of old age population that are more vulnerable to epilepsy is the major key factor driving the market growth. For instance, according to an article published by UpToDate Inc., in August 2021, the incidence rate of epilepsy increases with age and is highest in patients over 75 years of age. Thus, rise in prevalence of epilepsy among geriatric population drives the demand for VNS devices to treat and manage the disease. In addition, the rise in demand for minimally invasive vagus nerve stimulation devices positively impacts the market growth. Minimally invasive devices for epilepsy, depression and migraine are being favored both by doctors and patients, owing to the advantages of minimally invasive surgeries such as high success rate, less painful, shorter hospital stay, and require short recovery period. Rise in launch of advanced vagus nerve stimulation devices by various key players across the globe is set to boost the market growth.  

The growth of the vagus nerve stimulation industry is expected to be driven by high potential in untapped, emerging markets, due to availability of improved healthcare infrastructure, rise in prevalence of neurological diseases such as epilepsy, and depression. Furthermore, the healthcare industry in emerging economies is developing at a significant rate, owing to rise in demand for enhanced healthcare services, significant investments by government to improve healthcare infrastructure. 

The demand for vagus nerve stimulation is not only limited to developed countries but is also being witnessed in the developing countries, such as China, Brazil, and India, which fuel the growth of the market. Factors such as rise in adoption of external VNS devices and increase in awareness toward early diagnosis and treatment, further drive the growth of the market Furthermore, increase in promotional activities by manufacturers and growth in awareness for advanced VNS devices among the general population are expected to fuel their adoption in the near future and drive the vagus nerve stimulation market forecast.

However, strict government regulations are the main hurdles in manufacturing of VNS device products and product approvals. For the introduction of new devices and technologies, many governments have adopted different regulations. However, due to the complex and time-consuming clearance procedures, the introduction of new products may be delayed. In addition, the high cost of vagus nerve stimulation devices is anticipated to hamper the growth of the market.   

The COVID-19 outbreak has disrupted workflows in the healthcare sector worldwide. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. The global vagus nerve stimulation devices market experienced a decline in 2020 due to global economic recession led by COVID-19. In addition, the COVID-19 outbreak disrupted the supply chain across various end-user industries like food & beverage, healthcare, and industrial. However, the market is recovering after pandemic, and is expected to stable growth for vagus nerve stimulation devices market in the future. This is attributed to the increase in adoption of advanced external and implantable VNS devices and augmentation in demand for advanced manufacturing systems. Such trends are expected to have significant impact on adoption of VNS devices in upcoming years. 

Segmental Overview 

The vagus nerve stimulation market is segmented into product type, application, end user, and region. By product type, the market is categorized into implantable VNS devices and external VNS devices. On the basis of application, the market is segregated into epilepsy, depression, and others. By end user, the market is classified into hospitals, specialty clinics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

By Product Type

The vagus nerve stimulation market is segmented into implantable VNS devices and external VNS devices. The implantable VNS devices segment dominated the vagus nerve stimulation market size in 2022. This was attributed to high adoption of implantable VNS devices as they are effective in treating drug resistant epilepsy and depression. However, the external VNS devices segment is expected to register the highest CAGR during the forecast period. This is attributed to advantages such as easy to carry, outstanding wireless readability, better sensitivity rates in detecting seizures, allow for better mobility and quality of life among patients with epilepsy, and help track the remote location of the epileptic patients, which is beneficial in cases of a seizure attack, and availability of conventional and wearable devices in the market by various key players.   

By Application

The vagus nerve stimulation market is segregated into epilepsy, depression, and others. The epilepsy segment dominated the vagus nerve stimulation market size in 2022 and is anticipated to continue this trend during the forecast period. This is attributed to high adoption of vagus nerve stimulators in epilepsy and availability of advanced VNS devices to treat and manage epilepsy.

By End User

The vagus nerve stimulation market is classified into hospitals, specialty clinics, and others. The hospitals held the largest vagus nerve stimulation market share in 2022 and is expected to remain dominant throughout the forecast period, owing to availability of trained medical staff in hospitals that helps to provide better services to patients, and it provides additional benefits of diagnosis and treatment of neuromuscular disorders including epilepsy.  

By Region

The vagus nerve stimulation market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major vagus nerve stimulation market share in 2022 and is expected to maintain its dominance during the forecast period. 

Rise in advancement in manufacturing technology of vagus nerve stimulators in the region drive the vagus nerve stimulation market growth of the market. In addition, the presence of well-established healthcare infrastructure, high purchasing power, and rise in adoption rate of vagus nerve stimulators are expected to drive the vagus nerve stimulation market opportunity. Furthermore, product launch, and agreement adopted by the key players in this region boost the growth of the market. For instance, in September 2020, electroCore, Inc., a commercial stage bioelectronic medicine company, announced that it has entered into exclusive agreement with UpScript, LLC in which UpScript will serve as the exclusive online telehealth provider for gammaCore Sapphire CV (nVNS). 

Moreover, the shift from traditional medication to electrical stimulation of nerves has been pivotal in the development of new treatment options for different applications, which supports the market growth. 

Asia-Pacific is expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to presence of medical device companies in the region as well as growth in the purchasing power of populated countries, such as China and India. Moreover, adoption of high-tech processing to improve the production of medical devices drives the growth of the market.  

Asia-Pacific offers profitable opportunities for key players operating in the vagus nerve stimulation market, thereby registering the fastest growth rate during the forecast period, owing to the rise in prevalence of depression, migraine, and epilepsy, as well as well-established presence of domestic companies in the region. In addition, the rise in contract manufacturing organizations within the region provides great opportunity for new entrants in this region. 

Competition Analysis 

Competitive analysis and profiles of the major players in the vagus nerve stimulation, such as Cirtec, electroCore, Inc., LivaNova PLC, Masimo Corporation, MicroTransponder Inc., Neuropix Company Ltd., tVNS Health GmbH, Parasym Ltd, and Soterix Medical Inc. are provided in this report. Key players have adopted product launch, business expansion and acquisition as key developmental strategies to improve the product portfolio of the vagus nerve stimulation industry.

Recent Product Launches In The Vagus Nerve Stimulation Market 

• In December 2022, electroCore, Inc., a commercial stage bioelectronic company, announced the launch of a new wellness product offering called Truvaga for customers residing in the U.S. 
• In February 2023, LivaNova PLC, a market-leading medical technology and innovation company, launched SenTiva DUO, an implantable pulse generator (IPG) with a dual-pin header to provide VNS Therapy for the treatment of drug-resistant epilepsy. 

Recent Agreement In The Vagus Nerve Stimulation Market  

• In April 2022, electroCore, Inc., a commercial stage bioelectronic medicine company, announced it has entered into an agreement with Teijin Limited (Teijin), which offers advanced solutions in the fields including healthcare, material, and information technology, to license certain exclusive rights to its non-invasive vagus nerve stimulation (nVNS) technology for commercialization in Japan for a range of primary headache disorders 
• In March 2021, electroCore, Inc., a commercial-stage bioelectronic medicine company, announced that it has entered into an agreement with Silvert Medical Nv-Sa. to distribute the gammaCore Sapphire non-invasive vagus nerve stimulator (nVNS) to patients suffering from primary headache disorders in Belgium, Luxembourg, the Netherlands, and France. 
• In January 2021, electroCore, Inc., a commercial stage bioelectronic medicine company, announced that it has entered into an agreement with RSK Medical Inc. to distribute the gammaCore Sapphire non-invasive vagus nerve stimulator (nVNS) in Canada, and supplying therapy to patients suffering with primary headache disorders. 
• In December 2020, electroCore, Inc., a commercial stage bioelectronic medicine company, announced that it has entered into an agreement with Pro Medical Baltic UAB to distribute gammaCore Sapphire non-invasive vagus nerve stimulation to the patients suffering from primary headache disorders in Lithuania, Latvia, Belarus, Kazakhstan, and Ukraine. 
• In September 2020, electroCore, Inc., a commercial stage bioelectronic medicine company, announced that it has entered into exclusive agreement with UpScript, LLC in which UpScript will serve as the exclusive online telehealth provider for gammaCore Sapphire CV (nVNS). 

Recent Business Expansion In The Vagus Nerve Stimulation Market 

• In February 2023, electroCore, Inc., a commercial stage bioelectronic medicine and wellness company, announced an agreement with Byond Healthcare Pty Ltd. to serve as the exclusive distributor of gammaCore Sapphire, non-invasive vagus nerve stimulator (nVNS) in South Africa and Namibia. 

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vagus nerve stimulation market analysis from 2022 to 2032 to identify the prevailing vagus nerve stimulation market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the vagus nerve stimulation market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global vagus nerve stimulation market trends, key players, market segments, application areas, and market growth strategies.

  Vagus Nerve Stimulation Market, by Product Report Highlights

Aspects	Details
Market Size By 2032	USD 836.1 million
Growth Rate	CAGR of 5.5%
Forecast period	2022 - 2032
Report Pages	233
By Product	Implantable VNS devices External VNS devices
By Application	Epilepsy Depression Others
By End user	Hospitals Neurology clinics Others
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Italy, Spain, Rest of Europe) Asia-Pacific  (Japan, China, India, Australia, South Korea, Rest of Asia-Pacific) LAMEA  (Latin America, Middle East And Africa)
Key Market Players	tVNS Health GmbH, Soterix Medical Inc., Neuropix Company Ltd., LivaNova PLC, electroCore, Inc., SetPoint Medical Corporation, Parasym Ltd, MicroTransponder Inc., Beijing PINS Medical Co., Ltd

Analyst Review

This section provides various opinions of top-level CXOs in the global vagus nerve stimulation market. According to the insights of CXOs, the global vagus nerve stimulation market is expected to exhibit high growth potential attributable to rise in the demand for minimally invasive devices. In addition, the increase in the number of patients suffering from epilepsy leads to high adoption of vagus nerve stimulation devices which are expected to significantly boost the growth of the vagus nerve stimulation market. However, high maintenance and device costs restrain the adoption of vagus nerve stimulators and lack of skilled professionals hinder the market growth. 

CXOs further added that increase in awareness regarding advantages of implantable and external VNS devices drive the market growth. Furthermore, North America was the major shareholder in 2022, in terms of revenue, owing to rise in incidences of chronic diseases, higher health awareness along with developed healthcare infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth, owing to an increase in number of epilepsy, depression and migraine cases, along with growth in awareness for early detection of disease. 

Author Name(s) : Shraddha Mali | Roshan Deshmukh

Related Tags

• Implantable Devices
• Implantable Drug Delivery
• Neurology

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