Vagus Nerve Stimulators Market by Product Type (Implantable Devices, and External Devices), by Application (Epilepsy, Depression, Cluster Headache & Migraine, and Others), by Distribution Channel (Hospital, Specialty Pharmacy, and Others), by Distribution Channel (Hospital, Retail Pharmacy, and Online Pharmacy) and Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
- Report code : CMI42514 |
- Industry :
Medical Devices
- Published On : Feb 2019 |
- Pages : 160 Pages |
- Format :
Vagus Nerve Stimulators Market - Insights
Vagus nerve stimulation (VNS) is a medical treatment in which electric impulses are delivered to vagus nerve for the management and treatment of various types of diseases including epilepsy and depression. Vagus nerve stimulators are devices used to stimulate the vagus nerve with electrical impulses. Vagus nerve stimulators are classified in two types: implantable devices and external devices. An implantable vagus nerve stimulator is a medical device, which is surgically implanted inside the body. External devices are less-invasive, non-surgical vagus nerve stimulators. Various key players in the market are involved in the development of such easy-to-use external vagus nerve stimulators for various indications.
Frequent approval and launch of novel vagus nerve stimulators is expected to drive global vagus nerve stimulators market growth
In July 2017, electroCore, Inc. launched gammaCore (non-invasive vagus nerve stimulator) for acute treatment of pain associated with episodic cluster headache in adult patients in the U.S. gammaCore is a non-invasive, hand-held medical device applied at the neck and sends gentle, patented electrical stimulation through the skin to activate the vagus nerve, resulting in the reduction of pain.
In June 2017, LivaNova Plc. received the U.S. FDA approval for its VNS therapy system for treatment of patients as young as four years of age with partial onset seizures that are refractory to antiepileptic medications.
The global vagus nerve stimulators market size was valued at US$ 445.1 Mn in 2018, and is expected to witness a CAGR of 9.0% during the forecast period (2018 – 2026).
Figure 1. Global Vagus Nerve Stimulators Market Share (%), By Distribution Channel
Source: Coherent Market Insights Analysis
High Prevalence of Epilepsy, Depression, and Migraine in Key Regions is expected to Rise Demand for Vagus Nerve Stimulators
Vagus nerve stimulators are widely used in the management and treatment of diseases such as epilepsy, depression, and migraine. High prevalence of such diseases in key regions is expected to drive vagus nerve stimulators market growth over the forecast period. For instance, according to the data published by the National Institute of Mental Health, depression was one of the most common mental disorders in the U.S. in 2016. An estimated 16.2 million adults in the U.S. had at least one major depressive episode. This number represented 6.7% of all the U.S. adults.
Similarly, according to the data published by the World Health Organization in 2018, around 2.4 million people are diagnosed with epilepsy each year, globally. In high-income countries, new cases are between 30 and 50 per 100,000 people, annually.
Asia Pacific is expected to be a Potential Region for Growth of the Vagus Nerve Stimulator Market
LivaNova PLC is one of the leading players in the vagus nerve stimulator market with various products, which earns around 84% of its revenue from the U.S. and rest from other economies. The penetration rate of vagus nerve stimulator is quite low in emerging economies such as Asia Pacific, Middle East, and Africa.
However, high prevalence of migraine, depression, and epilepsy in major economies of Asia Pacific such as China, India, and Australia, and increasing healthcare awareness and expenditure in these economies signifies potential opportunities for vagus nerve stimulators. For instance, according to the data published by the Commonwealth Fund, in 2014, China invested around US$ 992 billion in healthcare, with 30% financed by the central government and local governments and 38% by publicly financed health insurance and private health insurance or social health donations.
Moreover, according to the World Health Organization, 2018, around 3/4th of the population suffering from epilepsy living in low- and middle- income countries do not get the treatment they need, wherein, such medical devices could be used. Manufacturers should collaborate with regional government authorities to spread awareness about these medical devices, as well as increase the number of distributors to cater to the customer base.
Figure 2. Global Vagus Nerve Stimulators Market Share (%) analysis, By Region 2026
Source: Coherent Market Insights Analysis
Vagus nerve stimulators received approval from regulatory authorities for treatment of various disorders such as depression, migraine, and epilepsy. However, there are lot of alternative treatment options such as pharmaceutical drugs, antiepileptic medications, antidepressants, anticonvulsants, and others. Moreover, majority of these drugs have lost patent protection and cheaper generic versions have been made available in the market by leading generic manufacturers. Physicians as well as patients are more likely to give preference to cheaper drugs rather than medical devices. Hence, presence of cost-effective alternative treatment options for the treatment of these diseases is expected to be major factor hampering the adoption of vagus nerve stimulator devices and in turn, is expected to hinder the vagus nerve stimulator market growth over the forecast period.
Key players operating in the vagus nerve stimulators market include electroCore, Inc., LivaNova, PLC, SetPoint Medical Corporation, MicroTransponder, Inc., Beijing PINS Medical Co., Ltd., Parasym Ltd., Nervana, LLC, and tVNS Technologies GmbH.
Vagus nerve stimulation (VNS) is a U.S. Food and Drug Administration (FDA) approved therapy, which involves stimulation of vagus nerve with the help of stimulator that provides electric impulses to vagus nerve. Vagus nerve stimulator is widely used in the treatment of epilepsy, depression, cluster headache, migraine, asthma, bronchoconstriction, exercise-induced bronchospasm, chronic obstructive pulmonary disease (COPD), gastric motility disorder, and irritable bowel syndrome. Currently, there are two types of vagus nerve stimulator present in the market- implantable vagus nerve device and external vagus nerve device. Implantable devices are implanted inside the body surgically. However, the external devices are nob-invasive and are used outside the body
Market Dynamics
High prevalence of depression epilepsy and migraine in key regions is expected to drastically rise demand for vagus nerve stimulators for its treatment. For instance, according to the data published by the Centers for Disease Control and Prevention in 2015, around 3 million U.S. adults and 470,000 children had active epilepsy (under treatment or with recent seizures). The number of adults with active epilepsy increased from 2.3 million in 2010 to 3 million in 2015.
According to the data published by National Institute of Mental Health in 2016, an estimated 16.2 million adults in the U.S. had at least one major depressive episode. This number represented 6.7% of all U.S. adults. According to the same source the prevalence of major depressive episode was higher among adult females (8.5%) compared to males (4.8%) and the prevalence of adults with a major depressive episode was highest among individuals aged 18-25 (10.9%).
Approval and launch of novel products in market is also expected to support the vagus nerve stimulators market growth over the forecast period. For instance, in June 2017, electroCore, Inc. received the U.S. Food and Drug Administration (FDA) 510(k) clearance to market a newer version of gammaCore (non-invasive vagus nerve stimulator) – the gammaCore-S – for acute treatment of pain associated with episodic cluster headache (eCH) in adult patients.
Furthermore, in February 2019, the U.S. Centers for Medicare & Medicaid Services (CMS) finalized its national coverage determination (NCD) for the LivaNova Plc.’s vagus nerve stimulation therapy (VNS Therapy) System for treatment-resistant depression (TRD). Such favorable reimbursements for VNS devices for depression treatment is also expected to increase its adoption and drive vagus nerve stimulators market growth
Key features of the study:
- This report provides in-depth analysis of global vagus nerve stimulators market and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2018 – 2026), considering 2017, as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
- It profiles leading players in the global vagus nerve stimulators market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies, and future plans
- Key companies covered as a part of this study include electroCore, Inc., LivaNova, PLC, SetPoint Medical Corporation, MicroTransponder, Inc., Beijing PINS Medical Co., Ltd., Parasym Ltd., Nervana, LLC., and tVNS Technologies GmbH
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
- The global vagus nerve stimulators market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the vagus nerve stimulators market
Detailed Segmentation:
- Global Vagus Nerve Stimulators Market, By Product Type:
- Implantable Devices
- External Devices
- Global Vagus Nerve Stimulators Market, By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- Global Vagus Nerve Stimulators market, By Distribution Channel:
- Hospital
- Specialty Pharmacy
- Others
- Global Vagus Nerve Stimulators Market, By Geography:
- North America
- By Product Type :
- Implantable Devices
- External Devices
- By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- By Distribution Channel
- Hospital
- Specialty Pharmacy
- Others
- By Country:
- U.S.
- Canada
- Europe
- By Product Type :
- Implantable Devices
- External Devices
- By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- By Distribution Channel
- Hospital
- Specialty Pharmacy
- Others
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Product Type :
- Implantable Devices
- External Devices
- By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- By Distribution Channel
- Hospital
- Specialty Pharmacy
- Others
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Product Type :
- Implantable Devices
- External Devices
- By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- By Distribution Channel
- Hospital
- Specialty Pharmacy
- Others
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- By Product Type :
- Implantable Devices
- External Devices
- By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- By Distribution Channel
- Hospital
- Specialty Pharmacy
- Others
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Product Type :
- Implantable Devices
- External Devices
- By Application:
- Epilepsy
- Depression
- Cluster Headache & Migraine
- Others
- By Distribution Channel
- Hospital
- Specialty Pharmacy
- Others
- By Country:
- Central Africa
- South Africa
- North Africa
- Company Profiles
- electroCore, Inc.*
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- LivaNova, PLC
- SetPoint Medical Corporation
- MicroTransponder, Inc.
- Beijing PINS Medical Co., Ltd.
- Parasym Ltd.
- Nervana, LLC.
- tVNS Technologies GmbH
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Novel Product Launch/Approval
- PEST Analysis
- Porter’s Analysis
- Reimbursement Scenario
- Global Vagus Nerve Stimulators Market, By Product Type, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Implantable Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- External Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Global Vagus Nerve Stimulators Market, By Application, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Epilepsy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Depression
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Cluster Headache & Migraine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Global Vagus Nerve Stimulators Market, By Distribution Channel, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017–2026
- Segment Trends
- Hospital
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Specialty Pharmacy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Mn)
- Global Vagus Nerve Stimulators Market, By Region, 2018 – 2026 (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of APAC
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- Central Africa
- South Africa
- North Africa
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Application, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026 (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2026 (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- electroCore, Inc.
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- LivaNova, PLC
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- SetPoint Medical Corporation
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- MicroTransponder, Inc.
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Beijing PINS Medical Co., Ltd.
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Parasym Ltd.
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Nervana, LLC.
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- tVNS Technologies GmbH
- Company Overview
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 35 market data tables and 31 figures on “Vagus Nerve Stimulators Market - Global forecast to 2026”.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
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