Global 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), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 445.1 Mn in 2018, and is projected to exhibit a CAGR of 9.0% during the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights.
Increasing approval and launch of new vagus nerve stimulators is expected to support global vagus nerve stimulators market growth over the forecast period. For instance, in November 2018, electroCore, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for an expanded label for gammaCore non-invasive vagus nerve stimulator (nVNS) therapy for adjunctive use for the preventive treatment of cluster headache in adult patients. In January 2018, the company received 510(k) clearance the same product as an acute treatment of pain associated with migraine in adult patients
In October, 2018 LivaNova plc. received the U.S. Food and Drug Administration approval for its latest vagus nerve stimulation therapy (‘VNS Therapy’) System, which consists of the SenTiva implantable generator and the next-generation VNS Therapy Programming System for the treatment of patients with drug-resistant epilepsy.
Key players in the market are indulged in robust research and development activities for the development of novel vagus nerve stimulation therapies. Various key players have their vagus nerve stimulators in late phase clinical trial, which are expected to get approval in the near future. Hence, presence of such robust pipeline of new vagus nerve stimulators is expected to drastically drive the vagus nerve stimulators market growth over the forecast period.
For instance, in October 2018, SetPoint Medical announced the completion of enrollment in the U.S. Food and Drug Administration (FDA) pilot Investigational Device Exemption (IDE) study, evaluating its proprietary bioelectronic device to treat patients with drug refractory rheumatoid arthritis (RA).
Browse 35 Market Data Tables and 31 Figures spread through 160 Pages and in-depth TOC on Global 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) - Global Forecast to 2026
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Furthermore, key players in the market are involved in expanding its manufacturing capabilities in order to expand production of vagus nerve stimulators and fulfill its demand in the market.
For instance, in November 2018, electroCore, Inc. expanded its manufacturing capability by establishing a new design, development, and manufacturing facility to fulfill increasing demand for its gammaCore non-invasive vagus nerve stimulator product. The 13,640-square-foot office and manufacturing facility is located at Forge Way Business Center in Rockaway, New Jersey, U.S.
Key Takeaways of the Vagus Nerve Stimulators Market:
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