Vagus Nerve Stimulator Market is gaining huge growth in upcoming years: Credence Research

SAN JOSE, Calif. - Feb. 24, 2020 - PRLog -- Market Insights

The global market for Vagus Nerve Stimulator is emerging efficiently from 2019 to 2027, accredited to increase minimally invasive surgical procedures along with enhanced nerve stimulation therapy worldwide in the field of medical technology. Overall, the U.S. generated maximum revenue in 2018. Top U.S. manufacturers continue to focus on R&D to innovate new applications along with external VNS Devices. The increasing burden of stroke and other neurological disorders, such as Parkinson's and Alzheimer's, leads to an increasing number of hospital admissions, eventually increasing the demand for neurosurgery devices. According to statistics from the American Neurological Association, neurological disorders affect more than 100 million U.S. citizens every year, with medical costs alone estimated at more than US$ 600 billion by 2030.

The major drivers are increasing number of patients suffering with neurological & lifestyle disorders and swift adoption of latest technology in the U.S market. For e.g. in 2017, the U.S. FDA approved marketing of "gammaCore" (handheld noninvasive vagus nerve stimulator/ (nVNS) therapy) manufactured by ElectroCore LLC, mainly for the preventive treatment of episodic cluster headaches. Major clinical applications for epilepsy and depression will further spur revenue growth for implantable vagus nerve stimulators. Other treatment options include seizures, electroconvulsive therapy, pain, asthma, Crohn's disease, migraine, and other diseases. However, reimbursement cuts, pricing pressures related to surgery, and complications after surgery and less technology expansion in the developing nations expected to temper revenue growth on a global scale.

Report originally published at Credence Research: https://www.credenceresearch.com/report/vagus-nerve-stimulator-market

Major players in this vertical are Medtronic Plc., LivaNova Plc., BioControl Medical, EnteroMedics Inc., NERVANA LLC., ElectroCore LLC, Cerbomed GmbH, ReShape Lifesciences, Inc, Parasym Health, Innovative Health Solutions INC, Beijing PINS Medical Co., Ltd., Aleva Neurotherapeutics SA and others.

Segmentation

Product Type (2017–2027; US$ Mn)

• Implantable Vagus Nerve Stimulator

• Transcutaneous Vagus Nerve Stimulator (External)

Application (2017–2027; US$ Mn)

• Pain Management

• Depression & Anxiety

• Epilepsy

• Obesity

• Others (Obstructive Sleep Apnea, Opioid Withdrawal)

End-User (2017–2027; US$ Mn)

• Hospitals

• Specialty Clinics

• Ambulatory Surgical Centers

Geography (2017–2027; US$ Mn)

• North America (U.S., Canada)

• Europe (U.K., Germany, Rest of Europe)

• Asia Pacific (Japan, China, Rest of Asia Pacific)

• Latin America (Brazil, Mexico, Rest of Latin America)

• Middle East & Africa (GCC, Rest of Middle East & Africa)