Europe Vagus Nerve Stimulation Market, By Product Type (Implantable VNS Devices, External VNS Devices), Biomaterial (Ceramics, Metallic, Polymeric), Application (Pain Management, Epileptic Seizures, Obesity Management, Depression and Anxiety, Others), Patient Type (Adults, Pediatric, Geriatric), End User (Hospitals, Ambulatory Surgery Centres, Specialty Centers, Others), Distribution Channel (Direct Tender, Retail Sales, Others) – Industry Trends and Forecast to 2031.
Europe Vagus Nerve Stimulation Market Analysis and Size
The vagus nerve is a prominent component of the autonomic nervous system that regulates metabolic homeostasis and functions as a crucial component of the neuroendocrine-immune axis in maintaining homeostasis via its afferent and efferent pathways. Any approach that stimulates the vagus nerve, including manual or electrical stimulation, is referred to as Vagus Nerve Stimulation (VNS). For refractory epilepsy and treatment-resistant depression, left cervical VNS is an approved therapy.
Data Bridge Market Research analyzes that the Europe vagus nerve stimulation market was valued at USD 241.34 million in 2023 and is expected to reach the value of USD 891.34 million by the year 2031, at a CAGR of 15.6% during the forecast period. “Implantable VNS devices” dominate the product type segment of the market due to the growing demand for vagus nerve stimulation. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Europe Vagus Nerve Stimulation Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product Type (Implantable VNS Devices, External VNS Devices), Biomaterial (Ceramics, Metallic, Polymeric), Application (Pain Management, Epileptic Seizures, Obesity Management, Depression and Anxiety, Others), Patient Type (Adults, Pediatric, Geriatric), End User (Hospitals, Ambulatory Surgery Centres, Specialty Centers, Others), Distribution Channel (Direct Tender, Retail Sales, Others)
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Countries Covered
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U.K., Germany, France, Italy, Spain, Netherlands, Switzerland, Belgium, Sweden, Denmark, Norway, Finland, Austria, Ireland, and Rest of Europe
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Market Players Covered
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Philips Healthcare (Netherlands), GE Healthcare (U.S.), Siemens Healthineers (Germany), Hillrom Holdings, Inc. (U.S.), Schiller AG (Switzerland), Fukuda Denshi Co., Ltd. (Japan), Mindray Medical International Limited (China), Nihon Kohden Corporation (Japan), Mortara Instrument, Inc. (U.S.), BPL Medical Technologies (India), Medtronic plc (U.S.)
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Market Opportunities
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Market Definition
The vagus nerve is a long cranial nerve that runs from a person’s brain stem into the neck, chest, and abdomen. It is a part of the parasympathetic nervous system, which is commonly referred to as the rest-and-digest system because it regulates body functions while a person is at rest. It delivers messages to a person’s brain from their digestive system and organs such as their lungs, heart, and liver. It controls several organ functions, including digestion, heart rate, and respiratory rate. It is responsible for vasomotor activity and reflexes. It also regulates vocalization, mood, and immunity. It influences sensory functions in a person’s ears, sinuses, and esophagus as well.
Europe Vagus Nerve Stimulation Market Dynamics
Drivers
- Increasing Prevalence and Incidence of Neurological Disorders
Neurological disorders cause 4.5% to 11% of all illnesses, whether in low or high-income countries. The impact is greater compared to that of malignancies, gastrointestinal diseases, or respiratory illnesses, and it is expected to grow over the next years. One of the most common neurological conditions, epilepsy, affects almost every country on earth. Most people with this illness are seen in high-population countries. Due to this rising prevalence, there is a rising demand for a variety of tools and treatments, such as VNS. More neurological problems are being treated with VNS. In addition to other clinical uses, it aids in the treatment of neurological conditions like epilepsy and depression due to the significant prevalence of neurological conditions worldwide.
- Introduction of Innovative non-invasive vagus nerve stimulation devices
Traditional and conventional VNS devices are implanted in the patient's body and leads are placed on the vagus nerves that provide electrical stimulation when required. Growing demand and technological advancement of innovative devices lead to the introduction of small-sized implantable VNS devices in the market. These small-sized implantable devices offer various clinical benefits to patients and healthcare providers. The introduction of innovative devices is anticipated to boost the market growth.
Opportunities
- Strategic initiatives by the key market players
The demand for VNS devices is increasing in the market owing to the increased levels of R&D; along with that, the market growth is being aided by the desire for innovative medications. Thus, the top market players have implemented new strategies by developing new devices and equipment as well as collaborating with other players in the market and aimed at improving business operations and profitability. Increasing strategic initiatives by key market players are expected to offer significant opportunities for market players operating in the market.
- Rising government initiatives for neurological disease
The purpose of funding for VNS devices is to encourage applications seeking to develop devices for various neurological disorders. The funding by the government would result in the safety of the patient and cost savings. In addition, hospitals and healthcare agencies would administer this treatment at a lower price through collaboration with government organizations. Hence, the advancements in R&D activities and funding by the government will act as an opportunity for this market growth.
Restraints/Challenges
- High Maintenance and Device Costs
The rise in the cost of VNS devices is due to technological development and increased demand for nVNS devices by neurologists in hospitals, clinics, nursing facilities, and ambulatory surgical centers. Overhead costs can help explain why hospitals charge so much for stimulation devices. The increased intricacy and cost of VNS devices, technological innovations, and robust investments would increase the costs. The increased cost would result in delayed treatment of patients in hospitals and clinics. Hence, the increased cost of VNS devices is expected to restrain market growth
- High Cost Associated with R&D
The high cost associated with the research and development proficiencies, limited infrastructural facilities, high cost associated with the chemical analyser in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, heavy custom duty imposed on the medical devices, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market.
This vagus nerve stimulation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the vagus nerve stimulation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In May 2022, electroCore, Inc. announced that the gammaCore Sapphire non-invasive Vagus Nerve Stimulator will be available in 130 National Spine and Pain Centers (NSPC) affiliated locations across the U.S. for patients suffering from pain associated with different forms of primary headache. This would help the organization to develop more revenue
Europe Vagus Nerve Stimulation Market Scope
The vagus nerve stimulation market is segmented on the basis of product type, biomaterial, application, patient type, end user, and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Implantable VNS Devices
- External VNS Devices
Biomaterial
- Ceramics
- Metallic
- Polymeric
Application
- Pain Management
- Epileptic Seizures
- Obesity Management
- Depression and Anxiety
- Others
Patient Type
- Adults
- Pediatric
- Geriatric
End User
- Hospital
- Ambulatory Surgery Centers
- Specialty Centers
- Others
Distribution Channel
- Direct Tender
- Retail Sales
- Others
Europe Vagus Nerve Stimulation Market Regional Analysis/Insights
The vagus nerve stimulation market is analyzed and market size insights and trends are provided by country, product type, biomaterial, application, patient type, end user, and distribution channel as referenced above.
The countries covered in the market report are U.K., Germany, France, Italy, Spain, Netherlands, Switzerland, Belgium, Sweden, Denmark, Norway, Finland, Austria, Ireland, and rest of Europe.
U.K. is expected to dominate the market due to the strong base of healthcare facilities, strong presence of major players in the market, increases cases of cardiovascular disease among and rising number of geriatric population in this region.
Germany is expected to be the fastest growing country in the market due to rising technological advancements with increasing strategic initiatives among the key players.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The vagus nerve stimulation market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for vagus nerve stimulation market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the vagus nerve stimulation market. The data is available for historic period 2011-2022.
Competitive Landscape and Vagus Nerve Stimulation Market Share Analysis
The vagus nerve stimulation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vagus nerve stimulation market.
Some of the major players operating in the vagus nerve stimulation market are:
- Philips Healthcare (Netherlands)
- GE Healthcare (U.S.)
- Siemens Healthineers (Germany)
- Hillrom Holdings, Inc. (U.S.)
- Schiller AG (Switzerland)
- Fukuda Denshi Co., Ltd. (Japan)
- Mindray Medical International Limited (China)
- Nihon Kohden Corporation (Japan)
- Mortara Instrument, Inc. (U.S.)
- BPL Medical Technologies (India)
- Medtronic plc (U.S.)
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