Overview of the global VNS market
According to the Technavio’s analyst, the global VNS market is anticipated to grow at a steady rate and will post a CAGR of close to 10% during the forecast period. The availability of favorable reimbursement and insurance approval policies will drive the growth prospects for the global VNS market until the end of 2021. The availability of favorable reimbursement policies encourages a large number of specialists to utilize VNS devices and increase the investments made in the development of new technologies for the treatment of epilepsy and other cardiac indications. According to the market research analysis, several health systems are increasingly taking efforts to negotiate better prices on implantable medical devices to enforce reimbursement policies by encouraging supply chain system to drive down the costs of neuromodulation and VNS devices.
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In terms of geography, the Americas are one of the fastest growing market segment and will continue to dominate the market for the next four years. Some of the major factors responsible for the market’s growth in the region is the high adoption rate of VNS devices to treat various neurological and cardiovascular issues, the high population of patients who are resistant to medications, increasing application of these devices in ASCs, and growing support from government and private organizations. The region is also witnessing a higher focus on high quality, effective treatment, and one-time treatment solutions, which increases the number of investments in the healthcare sector. Moreover, since the cost incurred in performing research studies and clinical trials is quite low in this region, the high funding from the government increases the growth prospects for this market.
Competitive landscape and key vendors
The global VNS market is moderately competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors compete against each other based on factors such as aggressive pricing, product sensitivity, product differentiation, technology upgrade, and service models. Furthermore, several vendors are increasingly focusing on entering partnerships to develop new products and enhance the competitiveness.
Key vendors in this market are -
- LivaNova
- Enteromedics
- ElectroCore
Other prominent vendors in the market include Beijing Medical Equipment and BioControl Medica.
Segmentation by product and analysis of the VNS market
- Implantable VNS devices
- External VNS devices
The implantable VNS devices segment is one of the fastest growing market segment and will continue to dominate the market for the next four years. Some of the major factors responsible for the market segment’s growth is the growing development in the academic research, increasing a number of surgeries to treat epilepsy, and understanding the efficacy of these devices in treating neurological, and cardiovascular disorders.
Segmentation by end user and analysis of the VNS market
The hospital's segment accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. One of the major factors responsible for the market segment’s growth is the high availability of healthcare specialists in hospitals performing more number of surgeries.
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Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global vagus nerve stimulation (VNS) market?
- What are the key market trends impacting the growth of the global vagus nerve stimulation (VNS) market?
- What are the challenges to market growth?
- Who are the key vendors in the global vagus nerve stimulation (VNS) market?
- What are the market opportunities and threats faced by the vendors in the global vagus nerve stimulation (VNS) market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global vagus nerve stimulation (VNS) market?
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