The rising prevalence of Vagus Nerve Stimulator Market in emerging countries has become a pressing health concern. According to estimates by the World Health Organization (WHO), between 4.5% and 11% of illnesses in both low- and high-income economies are attributed to neurological disorders. This alarming trend indicates a greater burden compared to patients suffering from respiratory ailments, gastrointestinal disorders, or cancers.
As the burden of neurological diseases is expected to increase further in the coming years, the consequences of neurological failure can be devastating, potentially leading to permanent paralysis or disability. Such conditions not only affect the patients but also impose significant challenges on their families and caregivers.
To address these complex health issues, Vagus Nerve Stimulator (VNS) therapy has been utilized for decades to alleviate symptoms associated with various neurological conditions, including tremors and dyskinesia. This innovative therapy works by creating muscle contractions that can help restore functionality to motor nerves.
In addition to improving motor functions, VNS therapy has shown promise in treating a variety of other neurological disorders, including migraines, Crohn’s disease, asthma, depression, headaches, and even certain cardiovascular diseases. As healthcare professionals continue to explore the potential of VNS therapy, its role in normalizing neurological functions and improving patient quality of life is increasingly recognized.
The growing need for effective treatments for neurological disorders underscores the importance of ongoing research and innovation in this field, paving the way for improved patient outcomes and a better quality of life.
For further information and insights on neurological treatments and innovations, please refer to upcoming publications and reports.
Driven by a paradigm shift from implantables to non/minimally invasive devices, the vagus nerve stimulator (VNS) landscape is gradually encouraging the growth of transcutaneous VNS to be witnessed over the next couple of decades. Moreover, growing R&D efforts in the integration of next-generation technology to bypass the shortcomings of implantable VNS is likely to shape the future of vagus nerve stimulator marketplace.
- Of the total global population inflicted by neurological disorders, approximately 50% suffers from an epileptic disorder, research and surveys say.
- Vagus nerve stimulation is witnessing a rapidly expanding applicability beyond epilepsy, in the recent past.
- Research uncovers potential efficiency of vagus nerve stimulation in the obesity management of depression patients.
- Positive outcome of vagus nerve stimulation in treatment-resistant depression and epilepsy surgery indicate promising opportunities approaching in the near future.
Europe Steals the Limelight, Crossing US$ 100 Million Revenue in 2019
North America currently holds a massive revenue share in the vagus nerve stimulator market, and FMi projects continued dominance of this region over other regional markets in comping years. However, the report forecasts emergence of Europe and Asia Pacific (excluding Japan) as highly attractive territories for key market players in the near future. Europe will reportedly cross the US$ 100 million mark in 2019, reflecting the most lucrative opportunities for vagus nerve stimulator manufacturers.
“At present, Europe and APEJ hold a collective revenue share of over 40% in market, of which the former is gradually moving towards extending its individual market value share up to 1/4th of the global revenue,” explains a senior research analyst at FMI. Adding further, the analyst says, “Favorable regulatory and reimbursement scenario across Europe and relatively easy availability of VNS systems are most prominently driving the growth of vagus nerve stimulator market in Europe. VNS sales in Europe will also benefit from the strong presence of leading industry manufacturers in the region”.
Taxonomical Insights – By Type, Application, and End User
- By the type of vagus nerve stimulator, implantable stimulator continues to bring in the most of the revenue to market.
- Epileptic seizures secure the spot of the most sought after application type in vagus nerve stimulator landscape.
- Hospitals remain the largest end user of vagus nerve stimulator. FMI research indicates that specialty clinics and home care settings are emerging as attractive end user candidates in recent years.
Thorough competition analysis of vagus nerve stimulator landscape reveals a few important developmental strategies that are ruling the minds of VNS manufacturers at present.
- Besides geographical expansion, leading players in vagus nerve stimulator market are focusing on the extension of their existing offerings portfolio, according to the report.
- In an effort to address the challenges to VNS adoption posed by the high price point, companies are now reassessing their pricing strategies for a competitive advantage.
- A number of companies are also directing their strategic focus on a stronger distribution network.
- Strategic partnerships with local and regional distributors and retailers hold immense importance for the competitors in VNS landscape.
- Long-term contractual collaborations with recognized hospitals, research and pathology laboratories, and CROs are emerging as a growing trend among manufacturers of vagus nerve stimulator.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
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