Global Vagus Nerve Stimulators Market: Snapshot
The vagus nerve stimulators market is rapidly growing because of the rising number of neurological diseases across the world. The developing economies are the major areas where the demand for services from the vagus nerve stimulators market is increasing.
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Different neurological conditions such as dyskinesia and neurological tremors are treated with the help of vagus nerve stimulators therapy. This use may boost growth opportunities in the vagus nerve stimulators market. This therapy is also used to improve movement, for restoration of hand gasp, and to control bladder difficulties. This wide range of applications of therapy is anticipated to boost growth in the vagus nerve stimulators market.
There is a rapid increase in cases of depression across the world. This may lead to creating lucrative opportunities in the vagus nerve stimulators market. The number of people encountering epilepsy is growing at a rapid rate. In addition to this, new cases of epilepsy are also registering among people. So, the people encountering epilepsy and depression are estimated to propel growth opportunities in the vagus nerve stimulators market.
The vagus nerve stimulators market is spread at distant locations across the world including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among these regions, the North America region is anticipated to project a dominating position in the vagus nerve stimulators market. Growing healthcare practices and the use of technologically advanced healthcare systems are the key factors anticipated to drive demand opportunities in the vagus nerve stimulators market.
Europe is also expected to contribute in the vagus nerve stimulators market with the increasing rate of awareness among customers related to the benefits of technologically advanced healthcare services. On the other hand, the Asia Pacific region is also expected to develop growth impetus in the vagus nerve stimulators market. This growth is on the back of rising neurological disorders among people.
Global Vagus Nerve Stimulators Market: Overview
Increasing number of neurological diseases especially in developing economies is the key factor driving demand in the global vagus nerve stimulators market. Use of vagus nerve stimulation therapy helps in reducing neurological conditions such as neurological tremors and dyskinesia. Its application is also seen in while controlling bladder difficulties, restoration of hand gasp, and improves movement.
According to the data provided by the World Health Organization, globally 4.5% to 11% of illnesses are caused due to neurological diseases. Patients suffering from depression, asthma, and cardiovascular diseases are also treated with the help of vagus nerve stimulators.
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Global Vagus Nerve Stimulators Market: Notable Developments
Key market players are engaged in product improvement and product innovation. This will give them an upper hand against their competitors. Leading players are also engaged in strategic alliance that will strengthen their position against their rivals. Some of the recent developments seen in the global vagus nerve stimulators market include:
• The U.S. FDA gave approval to LivaNova Plc. for its VNS therapy system. This system is used for treating patient’s very young age (4 years) suffering with partial onset seizures that are refractory to antiepileptic medications.
• Recently, electroCore, Inc. launched a non-invasive vagus nerve stimulator – gammaCore. This stimulator is used for acute treating pain associated with episodic cluster headache in adult patients. It is a hand-held medical device functional at the neck and transmits gentle, patented electrical stimulation to activate the vagus nerve. This helps the reducing pain.
Some of the most prominent competitors operating in the competitive landscape of global vagus nerve stimulators market include –
- SetPoint Medical Corporation PLC
- MicroTransponder, Inc.
- Parasym Ltd.
- Beijing PINS Medical Co., Ltd.
- tVNS Technologies GmbH
- Nervana, LLC
Global Vagus Nerve Stimulators Market: Trends and Opportunities
Number of cases increased due to depression has increased significantly in the last couple of years. According to the data provided by the National Institute of Mental Health, depression is one of the major cause behind mental disorder in the U.S. around 16.2 million people suffer from depression in U.S. in 2016. Moreover, number of people suffering from epilepsy are also increasing at a high rate and new cases are registered at a high rate. Thus with growing number of people suffering depressions and epilepsy has accelerated the global vagus nerve stimulators market.
Advanced Healthcare Practices Strengthened North America Vagus Nerve Stimulators Market The demand for vagus nerve stimulators is high in North America, and this region is projected to hold larger share in the global vagus nerve stimulators market in the forthcoming years. Use of advanced healthcare system and growing advanced healthcare practices are the key reasons driving demand in North America vagus nerve stimulators market. Europe is also expected to contribute considerably due to increasing awareness among consumers about the benefits of advanced healthcare services.
On other hand, Asia Pacific is also expected to new growth opportunities in the global vagus nerve stimulators market. Rise in neurological disorders of different types has provided a fillip in Asia Pacific vagus nerve stimulators market. Moreover, high prevalence of depression, migraine, and epilepsy in countries like China and India has further augmented growth of vagus nerve stimulators in Asia Pacific region. Vagus nerve stimulators manufacturers needs to collaborate with regional authorities to spread awareness about these conditions and benefits of using this devices that will help in reducing number of patients suffering from epilepsy.
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