Global Vagus Nerve Stimulation (VNS) Market By Type (Implantable VNS Devices, External VNS Devices), By Application (Hospitals And Surgical Centers, Ambulatory Surgical Centers), By Region, And Segmen...

The Global Vagus Nerve Stimulation (VNS) Market was valued at USD 650 million in 2023 and is projected to reach USD 1.2 billion by 2030, registering a CAGR of 9.0% during the forecast period of 2023-2030. The market's growth is driven by the high prevalence of neurological disorders, increased awareness about VNS therapy among neurologists and patients, and technological advancements in VNS. There is also a medical treatment called vagus nerve stimulation (VNS), where electrical impulses are used to stimulate the Vagus nerve, which can help with disorders such as epilepsy and depression.

Drivers:

Rising Prevalence of Neurological Disorders, Increased Awareness, and Technological Advancements

• Neurological Disorders: The rising prevalence of neurological disorders such as epilepsy and depression is also bolstering the VNS market. This has increased the demand for VNS therapy, which in turn is soliciting complementary long-term and effective disease management solutions.

• Awareness and Acceptance: Growing awareness regarding the efficacy of VNS therapy among patients as well as healthcare providers to upsurge the market. Growing acceptance for VNS as an alternative treatment option concerning drug-resistant epilepsy and depression is fueling its demand.

• Technological Innovations: Continuous advancements in VNS technology, and the development of new-generation high-end VNS devices offer better efficacy and safety profiles leading to an increased demand for non-pharmacologic therapies such as VNS therapy. 

Restraints:

High Costs and Complications Associated with VNS Therapy

• High Costs: The cost of devices, surgical implantation and ongoing maintenance associated with VNS therapy is a significant barrier, especially in low-income regions.

• Complications: Potential complications in the form of infection, hoarseness or failure of symptoms may limit usage and it is extremely important to validate these medical devices in terms of safety and efficacy so that the patients and clinicians switch over from tried-and-true medications.

Opportunity:

Emerging Markets, Expanding Indications, and Increasing Geriatric Population

• Emerging Markets: The untapped potential in emerging markets presents significant opportunities for market expansion. Rising healthcare spending, growing healthcare infrastructure and increasing awareness regarding the neurological disorders across these regions are anticipated to propel the VNS therapy demand in this region.

• Expanding Indications: VNS therapy is growing beyond current epilepsy and depression indications, with new applications in migraine, Alzheimer's disease coupled with chronic pain. Continuing research and clinical studies may expand the potential applications of VNS.

• Geriatric Population: There is therefore a high number of emerging new cases, which in turn has increased the geriatric population that can seek neurological disorders treatment with VNS therapy. Into the foreseeable future, there will be a pressing need for effective treatments across many different areas of neurological disease.

Market by Product Type Insights:

Implantable VNS Devices and External VNS Devices Dominate the Market

• Implantable VNS Devices: The largest revenue contributor by segment in 2023 and is expected to dominate throughout the forecast period. Vagus nerve stimulation (VNS) devices that can be implanted are now commonly used for epilepsy and depression management in the long term.

• External VNS Devices: The interest is also high as they do not require any surgical procedure or have wires in their neck. Such devices are becoming increasingly popular for conditions such as migraines and chronic pain.

Market by End-use Insights:

Hospitals and Ambulatory Surgical Centers Lead the Market

• Hospitals: Hospitals held the largest market share in 2023 with over 60%. VNS therapy is carried out in hospitals as they have the optimal equipment and staff for surgery during implantation, post-operative patient care etc.

• Ambulatory Surgical Centers: These are inpatient surgical facilities that offer specialized treatment for a few hours and it is gaining more acceptance as the cost of care declines, and lengthier stays for patients to be treated. This has increased the demand for VNS therapy in these centres.

Market by Regional Insights:

North America Holds the Largest Market Share

• North America: Increased neurological disease prevalence, established healthcare infrastructure and significant expenditure on medical technology resulted in North America dominating the market with more than 45% of the share by revenue in 2023. The presence of well-established healthcare facilities and favourable reimbursement policies is expected to drive the market growth

Competitive Scenario:

Major players in the Global Vagus Nerve Stimulation (VNS) Market include LivaNova PLC, ElectroCore, Inc., Cyberonics, Inc., Boston Scientific Corporation, MicroTransponder Inc., tVNS Technologies GmbH, SetPoint Medical Corporation, Natus Medical Incorporated, NeuroMetrix, Inc., and Medtronic plc. 

Scope of Work – Global Vagus Nerve Stimulation (VNS) Market Report Metric Details

Key Market Developments:

• February 2023-EnteroMedics announced that they have received FDA approval to use their Maestro Rechargeable System for the treatment of obesity.

• March 2023- FDA approved LivaNovas VNS Therapy System for the treatment of epilepsy in pediatric patients aged 4 and older.

• April 2022- electroCore, Inc., a commercial-stage bioelectronic medicine company announced today that it has entered into an agreement with Teijin Limited which empowers new perspectives for the healthcare sector through advanced solutions in materials and information technologies to grant certain exclusive licenses on its non-invasive vagus nerve stimulation (nVNS) technology to license from electroCore for Japan experienceainting potential primary headache conditions.

Market Segmentation:

• Based on Product Type:

• Implantable VNS Devices

• External VNS Devices

• Based on End Use:

• Hospitals

• Ambulatory Surgical Centers

• Specialty Clinics

• Based on Region:

• North America (U.S., Canada)

• Europe (Germany, France, UK, Rest of Europe)

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

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

• Middle East & Africa (South Africa, UAE, Rest of MEA)

Frequently Asked Questions:

Q. What is the current market size of the Global Vagus Nerve Stimulation (VNS) Market?
A. The global VNS market size was estimated at USD 650 million in 2023 and is expected to reach USD 1.2 billion by 2030, registering a CAGR of 9.0% during the forecast period of 2023-2030.

Q. What are the major growth drivers of the Global Vagus Nerve Stimulation (VNS) Market? 
A. The growth of the Global VNS Market is mainly driven by the rising prevalence of neurological disorders, increased awareness about VNS therapy, and technological advancements in VNS devices.

Q. Which region holds the largest market share in the Global Vagus Nerve Stimulation (VNS) Market?

A. North America accounted for more than 45% of the market share in 2023, driven by advanced healthcare infrastructure and a high prevalence of neurological disorders.

Q. Which segment accounted for the largest market share in the Global Vagus Nerve Stimulation (VNS) Market
A. The implantable VNS devices segment accounted for the largest market share in 2023.

Q. Who are the key market players in the Global Vagus Nerve Stimulation (VNS) Market?

A. Key players include LivaNova PLC, ElectroCore, Inc., Cyberonics, Inc., Boston Scientific Corporation, MicroTransponder Inc., tVNS Technologies GmbH, SetPoint Medical Corporation, Natus Medical Incorporated, NeuroMetrix, Inc., and Medtronic plc.