Vagus Nerve Stimulator Market Expected To Rise At A CAGR Of 12.8% By 2026, Estimates DelveInsight
The decent growth in the Vagus Nerve Stimulator Market size can be attributed to an increasing incidence rate of neurological conditions, the resistance of patients to epileptic or anti-depressants drugs, and increasing demand for innovative devices
LAS VEGAS, Jan. 20, 2021 /PRNewswire/ -- DelveInsight's Vagus Nerve Stimulator Market report provides the current and forecast market of the Vagus nerve stimulator devices and comprises of market trends and key competitors of Vagus nerve stimulator devices. DelveInsight estimated the market to grow at a steady CAGR over the study period of 2018 – 2026.
Key Highlights from DelveInsight's Vagus Nerve Stimulator Market report:
- According to the estimates, the highest contribution in the market size of Vagus Nerve Stimulator (VNS) is from the United States (89.06%), followed by Japan among the seven major markets.
- LivaNova with its five VNS products is one of the market leaders in the arena. In March 2020, it was reported that its product Symmetry received a CE Mark approval for the treatment of difficult-to-treat epilepsy patients. Thereby, estimating that LivaNova will still remain as one of the market leaders in future and has major market share in VNS market arena.
- In July 2020, the FDA granted an Emergency Use Authorization (EUA) for the use of the gammaCore Sapphire CV nVNS therapy at home or in a healthcare setting to acutely treat adult patients with known or suspected coronavirus (COVID-19) who are experiencing an exacerbation of asthma-related dyspnea and reduced airflow, and for whom approved drug therapies are not tolerated or provide insufficient symptom relief. It is a product of Electrocore Inc. The company is a market leader and since the device will be in use during the pandemic, DelveInsight estimates it to be a reason for high CAGR of the market.
- In October 2020, the SetPoint Medical Corp received Breakthrough Device Designation from the FDA for the use of its novel bioelectronic device for patients with rheumatoid arthritis. This will expand the application of VNS devices and will further contribute to high CAGR of the market.
- The report also provides the estimated patient pool population globally. A total of 355,628 patients were eligible for VNS Device in 2018, this number is anticipated to increase by 2025. The patient population is derived by the patient pool of Drug-Related Epilepsy (DRE) and Treatment-Resistant Depression (TRD).
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