Vagus nerve stimulation (VNS) is a U.S. Food and Drug Administration (FDA) approved therapy, which involves stimulation of vagus nerve with the help of stimulator that provides electric impulses to vagus nerve. Vagus nerve stimulator is widely used in the treatment of epilepsy, depression, cluster headache, migraine, asthma, bronchoconstriction, exercise-induced bronchospasm, chronic obstructive pulmonary disease (COPD), gastric motility disorder, and irritable bowel syndrome. Currently, there are two types of vagus nerve stimulator present in the market- implantable vagus nerve device and external vagus nerve device. Implantable devices are implanted inside the body surgically. However, the external devices are nob-invasive and are used outside the body.
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High prevalence of depression epilepsy and migraine in key regions is expected to drastically rise demand for vagus nerve stimulators for its treatment. For instance, according to the data published by the Centers for Disease Control and Prevention in 2015, around 3 million U.S. adults and 470,000 children had active epilepsy (under treatment or with recent seizures). The number of adults with active epilepsy increased from 2.3 million in 2010 to 3 million in 2015.
According to the data published by National Institute of Mental Health in 2016, an estimated 16.2 million adults in the U.S. had at least one major depressive episode. This number represented 6.7% of all U.S. adults. According to the same source the prevalence of major depressive episode was higher among adult females (8.5%) compared to males (4.8%) and the prevalence of adults with a major depressive episode was highest among individuals aged 18-25 (10.9%).
Approval and launch of novel products in market is also expected to support the vagus nerve stimulators market growth over the forecast period. For instance, in June 2017, electroCore, Inc. received the U.S. Food and Drug Administration (FDA) 510(k) clearance to market a newer version of gammaCore (non-invasive vagus nerve stimulator) – the gammaCore-S – for acute treatment of pain associated with episodic cluster headache (eCH) in adult patients.
Vagus nerve stimulators are widely used in the management and treatment of diseases such as epilepsy, depression, and migraine. High prevalence of such diseases in key regions is expected to drive vagus nerve stimulators market growth over the forecast period. For instance, according to the data published by the National Institute of Mental Health, depression was one of the most common mental disorders in the U.S. in 2016. An estimated 16.2 million adults in the U.S. had at least one major depressive episode. This number represented 6.7% of all the U.S. adults.
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Similarly, according to the data published by the World Health Organization in 2018, around 2.4 million people are diagnosed with epilepsy each year, globally. In high-income countries, new cases are between 30 and 50 per 100,000 people, annually.
Key players operating in the vagus nerve stimulators market include electroCore, Inc., LivaNova, PLC, SetPoint Medical Corporation, MicroTransponder, Inc., Beijing PINS Medical Co., Ltd., Parasym Ltd., Nervana, LLC, and tVNS Technologies GmbH.