Vagal Nerve Stimulation Market

Market Overview

The global vagal nerve stimulation market size was valued at USD 660.7 million in 2022. It is expected to reach USD 1,609.82 million by 2031, growing at a CAGR of 10.40% during the forecast period (2023–2031).

Vagal nerve stimulation is a surgical method used to treat epileptic patients. During this procedure, an electrode is implanted in the patient's neck to stimulate the vagus nerve. It is a different approach to surgically removing brain tissue to control epileptic seizures. Epileptic seizures are brought on by brain-wide electrical discharges that are out of control. A different strategy is used in the nerve stimulation process, which involves intermittent electrical stimulation of a nerve outside the brain to affect specific patterns of brain activity. The effectiveness of vagal nerve stimulation in treating patients with epilepsy compared to anti-seizure medications is anticipated to impact the market for vagal nerve stimulation positively.

Highlights

• The implanted VNS devices segment is the highest contributor to the market by product type.
• The epilepsy segment is the highest contributor to the market by application.
• The hospital segment is the highest contributor to the market by end-use.
• North America is the most significant revenue contributor by region.

Market Dynamics

Global Vagal Nerve Stimulation Market Drivers

Rising Biotechnology and Pharmacological Industries' Investment in R&D

LivaNova plc, ReShape Lifesciences Inc., ElectroCore Medical LLC, Boston Scientific Corporation, and others are among the market's top competitors for vagal nerve stimulation. Investments continually fund the R&D efforts of these businesses. Engineering, development, quality control, testing, and consulting services are all part of research and development. Such research and development initiatives aid the company in advancing the VNS devices' technological capabilities.

Due to research and development, many businesses are working to reduce the price of VNS devices, and they have also released small implantable VNS devices on the market. Both patients and healthcare professionals can benefit from these devices in several ways. The market's businesses are spending a sizable sum on research and development to create new, technologically advanced vagal nerve stimulation products, devices, and therapies. The adoption of vagal nerve stimulation will increase due to innovative and affordable products. Due to these factors, the market for vagal nerve stimulation is anticipated to grow during the forecast period due to rising investments in research and development activities.

Rise in Neurological Disorders

Neurological disorders account for 4.5–11% of all illnesses in high- and low-income countries, according to the WHO. This number is higher than gastrointestinal diseases, cancers, or respiratory infections, and the burden is expected to rise. This trend is likely to continue for the next 20 years. The prevalence of neurological disorders ranges from 0.9% to 4% (970-4100 per 100,000 people), averaging 2.3%. (2380/100k) Epilepsy is present in almost every country. China and India have the most sufferers. This rising prevalence drives demand for devices and therapies like vagus nerve stimulation (VNS). Vagus nerve stimulation treats more neurological disorders. It treats epilepsy, depression, and other neurological conditions. VNS will likely be adopted because neurological disorders are so common.

Global Vagal Nerve Stimulation Market Restraints

Higher Cost of Vagal Nerve Stimulatory Procedure

The rising incidences of neurological disorders, such as depression, epilepsy, and other conditions, fuel the global adoption of VNS devices and therapies. According to the Epilepsy Foundation, the current cost of VNS therapy—which includes the implant and surgery—is around USD 30,000. Additionally, only a small number of patients are receiving treatment for these neurological disorders, which significantly impacts the cost structure of the VNS procedure because many patients still prefer medical care for these neurological conditions. This factor greatly affects the adoption of VNS devices and treatments. Additionally, the high cost of VNS surgery is deterring many people from using VNS devices. In conclusion, the market for vagal nerve stimulation is anticipated to grow slowly during the forecast period due to the high cost of VNS therapy, high surgical costs, and preferred medical treatments.

Global Vagal Nerve Stimulation Market Opportunities

Rising Strategic Mergers and Acquisitions

The widespread use of vagal nerve stimulation has been made possible by the increase in neurological disorders. Additionally, expanding research and development has prompted the release of new, technologically advanced products. Start-up businesses are creating competitive products for vagal nerve stimulation treatments and surgery with the help of significant investments. Furthermore, it is anticipated that the growing number of vagal nerve stimulation (VNS) patents from new start-up companies will allow them to contribute a high market share in the vagal nerve stimulation market. However, because these upcoming start-up businesses have a highly skilled workforce and cutting-edge products, they offer the major market players significant strategic merger and acquisition opportunities. It is recommended that the major market players invest in these up-and-coming start-ups and help them strategically achieve their objectives. This will allow significant businesses to dominate the market during the forecast period and bring about several new developments. Thus, the rising strategic mergers and acquisitions are anticipated to offer the global market a lucrative growth opportunity during the forecast period.

Regional Analysis

The global vagal nerve stimulation market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

North America Dominates the Global Market

North America is the most significant revenue contributor and is expected to grow at a CAGR of 9.97% during the forecast period. Canada and the US make up the two halves of North America. Due to its highly developed technology, rising prevalence of neurological disorders, rise in healthcare spending, and increased government support for R&D, North America is predicted to dominate the global market. Additionally, the market in this area has grown due to rising R&D activities and the presence of major corporations. US businesses like Innovative Health Solutions Inc. announced that the FDA had approved using their IB-Stim product to treat irritable bowel syndrome in children (IBS).

Europe is expected to grow at a CAGR of 11.43% during the forecast period. On the global market, Europe comes in second. The market in the Europe region will be driven by the availability of funds for research over the review period due to the high government support and funding for R&D. The market for vagal nerve stimulation in this region is anticipated to grow. Still, factors like the high cost of neurostimulators and a need for more skilled professionals are expected to slow this growth. In the coming years, the European market will benefit significantly from research like the investigation of vagus nerve stimulation for treating diseases associated with organs and muscle functions connected to the vagus nerve.

Asia-Pacific has the fastest-growing vagal nerve stimulation market due to its large patient population, high healthcare spending, and rapidly evolving healthcare technology. Expanding opportunities in nations like South Korea, Japan, China, and India will transform this market into one expanding globally. Further, the increased demand for high-quality medical equipment will encourage the use of cutting-edge technology, which is anticipated to support the expansion of vagal nerve stimulation devices in the area.

The Middle East and Africa and Latin America are the two central regions that make up the rest of the world's vagal nerve stimulation market. Major players in this region's vagal nerve stimulation market include those in the Middle East, Africa, and Latin America. Due to Africa's lack of medical facilities, funds, and unfavorable political conditions, the Middle East and Africa's share is slightly lower than that of Latin America. However, due to the expansion of healthcare facilities in this region's developing nations, Latin American countries are anticipated to offer potential growth opportunities.

Segmental Analysis

The global vagal nerve stimulation market is segmented by product type, application, and end-use.

Based on product type, the global market is bifurcated into implanted VNS devices and external VNS devices.

The implanted VNS devices segment is the highest contributor to the market and is expected to grow at a CAGR of 10.78% during the forecast period. For some people with epilepsy, the implantable vagal nerve stimulator is a device that regulates seizures. The implantable vagal nerve stimulator device, in contrast to other types of epilepsy surgery, uses electrical stimulation through the vagus nerve in the neck to reduce subjection instead of performing brain surgery or cutting out a section of the brain. The ability to treat patients without surgery is critical in rapidly expanding the implantable vagal nerve stimulator market.

External vagal nerve stimulation (VNS) devices depend entirely on electrical signals passing through the skin and neck muscles without damaging the tissue they pass through. This process must be exact enough to control and access nerve activity. The vagal nerve stimulator market is anticipated to grow due to technological advances and the introduction of new external VNS devices.

Based on application, the global market is bifurcated into depression and epilepsy.

The epilepsy segment is the highest contributor to the market and is expected to grow at a CAGR of 10.19% during the forecast period. A specific kind of neurological disorder is epilepsy. This leads to abnormal brain activity, seizures or periods of strange behavior, and a loss of awareness and sensations. Males and females of all races, ages, and ethnic backgrounds can develop epilepsy. People with epilepsy can control their seizures with medical treatment or surgery. Vagal nerve stimulation, which treats the abnormal behavior pattern of electrical waves in the vagus nerve to comfort the patient, is one of the most efficient and non-surgical treatments for epilepsy.

Depression is a neurological condition that causes constant sadness and boredom. It has an impact on one's emotions, actions, and thoughts. Numerous emotional and physical issues can arise as a result of depression. Angry outbursts, irritability or frustration, sleep disturbances, insomnia, and many other symptoms are signs of depression. People who have depression typically exhibit symptoms that are severe enough to interfere noticeably with daily tasks like work, school, social interactions, or interpersonal relationships. Depression can be treated with a proper diagnosis, therapy, and effective medication. Now that healthcare technology has advanced, depression can be effectively treated using simulation therapies like nerve simulation devices.

Based on end-use, the global market is bifurcated into hospitals and ambulatory surgical centers.

The hospital segment is the highest contributor to the market and is expected to grow at a CAGR of 9.89% during the forecast period. In hospitals all over the world, the vagus nerve stimulator is frequently used to treat epilepsy that is resistant to conventional medication. Through the vagus nerve, nerve stimulation therapy prevents seizures by gently electrically stimulating the brain. The VNS therapy aids the patient's quick recovery, less severe seizure control, improved quality of life, and increased alertness. Using VNS devices in hospitals has assisted epilepsy patients in recovering effectively. Still, due to the growth of privately run specialized care facilities globally, its market share may decline over the forecast period.

The locations where non-hospital admission surgeries are called ambulatory surgical centers. In contrast to many hospitals, ambulatory surgical centers offer a more convenient setting and cost-effective services. Patients who choose to have surgery at an ambulatory surgical center arrive on the day of their procedure, have their surgery in a fully furnished operating room and recover while being looked after by trained nurses—all without being admitted to the hospital. The ambulatory surgical center segment is anticipated to rule the market soon because of the specialized care and dedicated services offered in these facilities. The need for vagal nerve stimulation will grow significantly in the coming years.

Recent Developments

• April 2022- LivaNova started the Essenz Patient Monitor's Targeted Commercial Launch for Cardiopulmonary Bypass Procedures.
• October 2022- ReShape Lifesciences, the leading provider of metabolic health and weight loss solutions under the direction of physicians, announced that research on its patented Diabetes Bloc-Stim Neuromodulation (DBSN) system had been published in the Neural Technology Section of the peer-reviewed journal Frontiers in Neuroscience.