Vagus Nerve Stimulation Market to Soar at 11.4% CAGR till 2026

95

The global vagus nerve stimulation (VNS) market size is anticipated to reach USD 1,194.4 million by 2026, exhibiting a CAGR of 11.4% during the forecast period. Sizeable prevalence of epilepsy, a non-communicable brain disease, worldwide is projected to fuel the growth of this market, the recent Fortune Business Insights™ report, titled “Vagus Nerve Stimulation (VNS) Market Size, Share & Industry Analysis, By Type (Invasive, and Non-invasive {nVNS}), By Application (Epilepsy, Treatment Resistant Depression (TRD), and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2019-2026” states. The World Health Organization (WHO) estimates that close to 50 million people in the world suffer from epilepsy, of which nearly 80% live in low- and middle-income countries. The WHO opines that 70% of those living with epilepsy can lead seizure-free lives if given proper treatment. Vagus nerve stimulation technique is steadily emerging as an effective treatment option for epilepsy. The VNS method involves placing of a pulse stimulator in the left vagus nerve, which sends mild electrical stimulations to subdue erratic, seizure-inducing brain activity in epileptic patients. Thus, proven efficacy of the VNS technique in treating epilepsy is augmenting its demand in healthcare and driving the vagus nerve stimulation market trends.

According to the report, the value of the market stood at USD 505.2 million in 2018 and is expected to register a CAGR of 11.4% till 2026. The other highlights of the report include:

  • Segmentation of the market and piece-meal study of each individual segment;
  • Detailed assessment of the factors influencing the share, size, and overall growth of the market;
  • Careful evaluation of the challenges facing the market; and
  • Comprehensive research into the regional developments and competitive dynamics of the market.

Request a Sample Copy of the Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/vagus-nerve-stimulation-vns-market-101184

Market Restraint

Costly Treatment Procedure to Dampen Market Prospects

  • “The VNS market growth may hit a roadblock on account of the high cost of VNS treatment”, says one of our lead analysts. The Chicago-based Epilepsy Foundation states that VNS therapy costs around $20,000, which includes surgeries and implants. While the procedure is covered by insurance, a large chunk of people are still uninsured and may, therefore, not be able to afford the therapy. Furthermore, a study published in the New England Journal of Medicine revealed that nearly 33% of epilepsy patients have drug-resistant epilepsy.
  • These patients are in need of more and better healthcare for a protracted time period, which can prove costly for an average patient who may not have the financial wherewithal to complete the treatment. Another major constraint is the low awareness and lack of access to advanced therapies for neurological disorders in developing nations, which can severely limit the expansion of this market during the forecast period.

Please Visit to know more: https://www.fortunebusinessinsights.com/industry-reports/vagus-nerve-stimulation-vns-market-101184

Regional Analysis

Patient-friendly Reimbursement Policies to Propel the Market in North America

With a market size of USD 244.7 million in 2018, North America is poised to dominate the vagus nerve stimulation market share in the upcoming decade. The main reason attributable to its commanding position is the favorable health reimbursement policies for VNS devices in the region. Additionally, high awareness about neurological diseases and availability of advanced VNS techniques will further drive the market in North America.

Europe is projected to grow at an impressive CAGR on account of increasing issuance of CE certification to non-invasive VNS procedures. Asia-Pacific remains an untapped region in the context of this market and this will create several opportunities for domestic and global players, says the vagus nerve stimulation market report.