The vagus nerve is a component of the autonomic nervous system that regulates metabolic homeostasis and plays a major role in the neuroendocrine-immune axis to maintain homeostasis through efferent and afferent pathways. Vagus nerve stimulation refers to a technique that stimulates vagus nerve, either by electrical or manual stimulation. This stimulation is classified as the left cervical vagus nerve stimulation and the right cervical vagus nerve stimulation. The left cervical vagus nerve stimulation is approved for the treatment of neurobiological disorders such as obstructive sleep apnea, depression, and epilepsy. The right cervical vagus nerve stimulation is approved for the treatment of cardiovascular disorders. The vagus nerve stimulation is only recommended for patients 18 years of age and older. It is also recommended for patients who have tried at least four different medication therapies from at least two different classes, including combination therapies. Patients who have taken medication therapies for a longer duration of time are eligible for the vagus nerve stimulation to treat cardiac and other brain disorders.
Based on product type, the global Vagus Nerve Stimulation Market is segmented as implantable vagus nerve stimulation devices and external vagus nerve stimulation devices. The implantable vagus nerve stimulation devices segment is expected to grow during the forecast period due to improved patient compliance and increased patient awareness about the devices for treating neurobiological and cardiovascular disorders. Based on end-user, the global market is segmented as hospitals and ambulatory surgical centers.
The hospitals segment dominates the market due to availability of highly qualified health care specialists and increase in awareness about vagus nerve stimulation devices for the treatment of neurobiological and cardiovascular disorders. The major factors driving the growth of the global vagus nerve stimulation market are growing prevalence rate of neurobiological and cardiovascular disorders, rising demand for vagus nerve stimulation devices, lesser side effects compared to other standard of care, and favorable insurance and reimbursement policies. However, high cost of devices, high maintenance and complication related to vagus nerve stimulation devices, and stringent regulatory approvals for these devices are restraining the growth of the global vagus nerve stimulation market.
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Geographically, the market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & North Africa. North America dominates the global vagus nerve stimulation market due to increasing preference by health care specialists of the region for vagus nerve stimulation devices. In addition, the presence of favorable reimbursement policies, availability of developed health care infrastructure, and increased patient awareness are factors boosting the market growth for vagus nerve stimulation in the region. North America is followed by Europe. Asia Pacific is an emerging market for vagus nerve stimulation. China and India are expected to be the fastest growing markets due to increase in health care expenditure, rise in government initiative and expenditure, increase in patient pool, and growth in patient awareness. However, in regions such as Middle East & Africa, factors such as high cost of treatment, lack of availability of developed health care infrastructure, and poor patient education are restraining the growth of the market.
Major players operating in the global vagus nerve stimulation market include LivaNova, EnteroMedics, ElectroCore Medical, LLC, Boston Scientific Corporation, Cyberonics, Inc., NeuroMetrix, ImThera Medical, and Inspire Medical Systems, Inc.
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