Vagus Nerve Stimulation (VNS) Market

The global Vagus Nerve Stimulation (VNS) Market is valued at USD 445.7 Million in 2023 and is projected to reach a value of USD 1809.5 Million by 2032 at a CAGR (Compound Annual Growth Rate) of 10.9% between 2024 and 2032. The Market is driven by increasing incidence of chronic diseases such as migraine and epilepsy.

Key Highlights

• In 2023, North America dominated the market with 61.20% market share
• By Products, Implantable VNS Devices is accounted 59.90% market share
• Based on Application, the Epilepsy segment is dominated the market with 59.80% market share
• By Biomaterial, Metallic segment is accounted 51.30% market share
• Based on End Use, the Hospitals segment is dominated the market with 53.10% market share
• Rising demand for non-invasive treatments, increasing prevalence of neurological disorders, advancements in technology, and growing applications in mental health and chronic conditions

Product Overview

The Product Segment is divided into Implantable VNS Device and External VNS Device. The Implantable VNS Device held the dominant share in 2023, accounting for significant market share of 59.90%.

The implanted VNS devices target the specified to treat directly on the pain spot and altering nerve activity by delivering electrical stimulation to a particular nerve, thereby making it a more effective way of treating the disease. An implantable VNS device is helpful for those who have not responded to anti-seizure drugs and intensive depression treatments, such as psychotherapy, electroconvulsive therapy (ECT), and antidepressant medications. For instance, In february 2023, LivaNova has launched SenTiva DUO—an implantable pulse generator (IPG) with a dual-pin header intended to provide vagus nerve stimulation (VNS) therapy for patients with drug-resistant epilepsy.

Application Overview

The Application segment is divided into epilepsy, depression, and migraine. The Epilepsy held the dominant share in 2023, accounting for significant market share of 59.80%.

The Epilepsy segment is attributed to high adoption of vagus nerve stimulators in epilepsy and availability of advanced VNS devices to treat and manage epilepsy. For instance, as per WHO, Epilepsy accounts for more than 0.5% of the global burden of disease, a time-based measure that combines years of life lost due to premature mortality and time lived in less than full health. Epilepsy has significant economic implications in terms of health-care needs, premature death and lost work productivity. People with epilepsy can experience reduced access to educational opportunities, a withholding of the opportunity to obtain a driving license, barriers to enter particular occupations, and reduced access to health and life insurance.

Biomaterial Overview

The Biomaterial segment is divided into metallic, ceramic, and polymeric. The Metallic held the dominant share in 2023, accounting for significant market share of 51.30%.

Metallic biomaterials are widely used in medical devices such as implantable devices, due to their Strength, durability, thermal conductivity, and mechanical properties. Additionally, metals like titanium, stainless steel, and cobalt-chromium alloys have excellent biocompatibility, allowing them to integrate with the body without causing adverse reactions. Furthermore, metallic biomaterials have been purified to enhance their performance, reduce rejection, and extend the lifespan of medical devices.

Regional Overview

In 2023, the North America captured 61.20% of the revenue share.

North America Vagus Nerve Stimulation (VNS) market is driven by rising adoption of non-invasive treatments, advancements in VNS technology, and favorable regulatory approvals contribute to market expansion. Furthermore, rapid technological advancements, the presence of key players in the region, an increase in R&D investments, and a rise in the number of government funding and initiatives are among the key factors expected to create significant growth opportunities in the Vagus Nerve Stimulation (VNS) market. For Instance, in January 2022, electroCore, Inc. a commercial-stage bioelectronic medicine company, today announced that its gammaCore™ nVNS device has received Breakthrough Designation from the U.S. Food and Drug Administration (FDA) for the treatment of posttraumatic stress disorder (PTSD) after showing a reduction of symptoms of PTSD by 31% when compared to sham.

The US held the largest Vagus Nerve Stimulation (VNS) market share and is anticipated to register the highest CAGR during the forecast period. The market is driven by increased awareness of the benefits of VNS therapy, which offers a non-invasive and effective treatment option for patients who are unresponsive to traditional medications. Key U.S. players like ElectroCore, MicroTransponder, and Boston Scientific are focusing on advancing VNS technology, enhancing device performance, and expanding their applications in areas like stroke rehabilitation and chronic pain management.

In Asia Pacific, Vagus Nerve Stimulation (VNS) market is experiencing notable growth, driven by experiencing the growth significantly due to increasing healthcare awareness and rising incidences of neurological disorders, such as epilepsy and depression, across the region. Additionally, improved healthcare infrastructure, growing investment in medical research, and an expanding elderly population contribute to this growth.

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Key Trends

• Rising Incidence of Neurological Disorders: Conditions such as epilepsy, depression, Alzheimers disease, and chronic pain are becoming increasingly prevalent due to factors like aging populations, lifestyle changes, and environmental influences
• Technological Advancements: Innovations include the development of smaller, more efficient devices that can be implanted with minimal invasiveness, improving patient comfort and recovery times
• Increasing healthcare investments: Governments, private investors, and healthcare organizations are recognizing the growing burden of neurological disorders and are allocating substantial resources towards research and development of innovative treatment options

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Market Dynamics

Growing prevalence of Epilepsy and Other Conditions

The growing prevalence of epilepsy and other neurological conditions is a significant factor driving the demand for innovative treatments like Vagus Nerve Stimulation (VNS) therapy. In worldwide, Epilepsy affects millions of particular peoples, with increasing diagnosis rates attributed to factors such as improved awareness, better diagnostic tools, and the recognition of various seizure types. Alongside epilepsy, conditions such as chronic pain, depression, and anxiety are also on the rise, creating a pressing need for effective therapeutic options. Additionally, Traditional treatments such as medications, often fall short for many patients, leading to a search for alternatives. VNS therapy has emerged as a viable solution, offering a non-invasive approach to manage symptoms and improve the quality of life for those affected by these conditions.

High Cost of Device

The expense associated with VNS therapy encompasses not only the device itself but also the costs related to surgical implantation, pre-operative evaluations, and post-operative care. This financial burden can be prohibitive for many patients, particularly those without comprehensive insurance coverage or in regions where healthcare costs are a concern. Additionally, healthcare systems may be reluctant to invest in these devices due to their high upfront costs, leading to disparities in treatment access. While VNS therapy has shown promising results in managing conditions such as epilepsy and depression, the associated costs may limit its use primarily to patients with severe cases who have exhausted other treatment options.

Competitive Landscape

The Vagus Nerve Stimulation (VNS) market is characterized by dynamic and evolving environment with several key players and their ongoing advancement. Major Players like NivaLova LLC, ElectroCore, Cerebral Rx, MicroTransponder Inc, Parasym ltd, ReShape Lifesciences Inc, Nevro Corp, Neuvana Inc. These key players are influenced by factors such as technological advancements, research and development initiatives, strategic partnerships, and mergers and acquisitions. Additionally, regulatory approvals and reimbursement policies will play critical roles in shaping the competitive dynamics of the Vagus Nerve Stimulation (VNS) market.

Recent Market Developments

Boston Scientific Closes Acquisition of Relievant Medsystems Inc.

• In November 2023, Boston Scientific Corporation announced the close of its acquisition of Relievant Medsystems Inc., a company that offers the only U.S. Food and Drug Administration-cleared Intracept® Intraosseous Nerve Ablation System, a therapy to treat vertebrogenic pain that is a form of chronic low back pain. The Intracept system, a basivertebral nerve ablation therapy, will be an addition to the Boston Scientific chronic pain portfolio that includes spinal cord stimulation, radiofrequency ablation and an interspinous spacer procedure

First Commercial Vivistim Patient Set to Begin Paired VNS Therapy for Improved Upper Limb Function Post Stroke

• In May 2022, MicroTransponder®, Inc. reached a milestone Tuesday with the first commercial use of its Vivistim® Paired VNS™ System. A medical device company that develops solutions to restore independence and dignity for people suffering from neurological conditions that impair sensory and motor function, MicroTransponder announced that a surgical team, Charles Y. Liu, MD, Ph.D., director of the USC Neurorestoration Center and Jonathan J. Russin, MD, director of the USC Neuro Revascularization Center, from Keck Medicine of USC, successfully placed the small Vivistim device under the skin of Rosa Maria Villalpandos upper left chest area during an outpatient procedure

The global Vagus Nerve Stimulation (VNS) market can be categorized as Product, Application, Biomaterial, End-Use and Region.