Global Implantable VNS Devices Market Size (2024 - 2030)

In 2023, The Implantable VNS Devices Market was valued at $ 384.71 Million, and is projected to reach a market size of $ 793.70 Million by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 10.9%.

Industry Overview:

The vagus nerve is a very integral part of the central nervous system. The human body contains 2 vagus nerves and they handle the involuntary nervous system. This implies that they control activities of the body about which we don’t make conscious decisions and those activities that take place 24/7 without any interruption. This may include, the heart rate, digestion, the immune system, and more. Heart issues, gastrointestinal issues, and issues with daily tasks like difficulty in talking, change of voice, etc. can all be attributed to some form of damage or problem in the vagus nerve. The vagal nerves can be stimulated with the help of electrical signals which can help it to communicate to the brain and correct the problem that may have occurred. Vagus Nerve Stimulation (VNS) devices perform this task. The implantable VNS devices can be used to monitor and send electrical signals throughout the day at possible periodic intervals. They are embedded into a patient’s body and can be monitored from the outside. These are very helpful in people suffering from extensive brain-related problems or geriatric patients with age-related conditions.

COVID-19 Impact on the Implantable VNS Devices Market:

The COVID-19 pandemic resulted in one of the biggest global calamities of recent times. The coronavirus was the cause behind the pandemic that affected people with flu-like symptoms that don’t seem particularly harmful at first glance but have proven to be life-threatening. The virus was extremely contagious in nature and to prevent its spread government installed national and international lockdowns. This led to several supply chain issues across all markets. This also affected the implantable VNS devices market and it saw a dip. But the people suffering from coronavirus didn’t only suffer through respiratory problems as it appeared initially. The term long covid was coined which referred to the long-term effects that were observed in the people’s brains that were infected by the virus. This long-standing virus led to serious mental issues including shorter attention spans, problems in motor skills in kids, developmental issues, and more. This led to an increase in the demand for implantable VNS devices to help combat several neurological issues.

Market Drivers:

The increase in severe and otherwise untreatable neurological diseases is poised to drive the market growth for Implantable VNS Devices:

As the times have progressed developments across all sectors have flourished which has been both beneficial and harmful in some aspects. The impact of new inventions and advancements has directly affected the brain. The changing societal and interpersonal connections also play a huge role in the observation of neurological diseases. In recent years, the number of people being affected with severe neurological diseases, mental health issues like anxiety, depression, and more has increased multifold. This has been a major factor in the growth of the market. The neurological diseases which previously appeared to have been untreatable have also been easily managed with implantable VNS devices.

The rise in adaptation of newer technologies like electrical stimulation will help to drive market growth:

Technological developments across all fields have grown with leaps and bounds. As newer technologies are being discovered, life for the average person has become easier, and the quality of life has much improved and the average life span has also increased. Initially, the treatments of several brain-related diseases were done with the help of medication and external therapy. But a lot of the time that provided no significant improvement. The development of electrical stimulations to the brain played a great role in curing so many problems that weren’t even diagnosable in earlier times. There are risks involved as with everything else, but this technique has shown considerable improvement in a large number of people and therefore is being adapted more and more. This is a major reason for the growth of the market.

Market Restraints:

The Implantable VNS Devices Market's growth is being stifled by the high costs the implantable devices, surgery, and the health risks involved:

The implantable VNS devices are used whenever a patient suffers from problems that can be directly connected to the dysfunction of the pair of vagal nerves. The implantation is done whenever continuous monitoring is required and the brain is expected to receive electrical signals continuously or periodically. The devices are made from high-quality materials that are safe for the human body which can also make them extremely expensive. The devices need to be implanted in the body by performing an invasive surgery often, which can also be extremely expensive for everyday people. These devices directly communicate with the brain, which is undoubtedly the most sensitive and integral part of the human body. This leads to several health risks and a fear of damaging something even further. All these factors combined are restraining the Implantable VNS devices market growth.

IMPLANTABLE VNS DEVICES MARKET REPORT COVERAGE:

This research report on the global Implantable VNS Devices Market has been segmented based on biomaterial, application, end user, and regions.

Implantable VNS Devices Market- By Application

• Depression

• Epilepsy

• Migraine

• Others

The epilepsy segment had the largest market share at almost 60% of the total market size. Patients suffering from long-time epilepsy issues have experienced considerable relief with the help of implantable VNS devices. During the forecast period of 2023-2030, the depression segment is estimated to grow the fastest as mental health problems have been on the rise.

Implantable VNS Devices Market- By End User

• Hospitals

• Ambulatory Surgical Centers

• Others

The hospitals have held the largest market share and are continuing to grow at an exemplary CAGR which can be observed in the forecast period. The increase in the number of surgeries for implantable VNS devices and the increase in diagnoses of neurological conditions are both major reasons for the same.

Implantable VNS Devices Market- By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

North America has held the largest market share in the world owing to its developments in the healthcare sector, government provisions, and advancement in diagnostic technologies.

Countries all over Asia-pacific have been investing in the development of hospitals and more which can be attributed to the rise in the geriatric population and the increasing awareness among people regarding neurological diseases.

Major Key Players in the Market

1. LivaNova Plc.

2.  EnteroMedics Inc.

3.  Beijing Pharmaceutical Group Co., Ltd.

4.  BioControl Medical (B.C.M) Ltd.

5. electroCore LLC

6. Cyberonics

7. Neurospace

8. MicroTransponder, Inc.

9. Medtronic

10. Cerebral Rx

Market Insights and Developments

• In February 2023, SenTiva DUO was launched by the medical devices company LivaNova. This is supposed to be an artificial pulse generator that can be used in patients with epilepsy and is a part of implantable VNS devices.

• In March 2021, researchers in Korea developed an implantable device for the brain that is soft in nature, can be recharged externally, and can be controlled from outside of the body. It is expected to help treat psychiatric disorders and neurological diseases.