By Product
- Implantable VNS Devices
- External VNS Devices
By Application
- Depression
- Epilepsy
- Migraine
By Biomaterial
- Ceramics
- Metallic
- Polymerics
By End User
- Hospitals
- Ambulatory Surgical Centers
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
The market is classified into product, application, biomaterial, end user and region. The product segment is fragmented into implantable VNS devices and external VNS devices. The external VNS devices are predicted to hold the largest vagus nerve stimulation market share as the process of fitting this device is minimally invasive, which is highly preferred by patients and is also a cheaper alternative than an implantable VNS device. The application segment is categorised into depression, epilepsy and migraine. The depression segment is predicted to lead the market as VNS devices are primarily used for treating treatment resistant depression. The biomaterial segment is divided into ceramic, metallic and polymerics. The end user segment is categorised into hospitals, ambulatory surgical centres and others. The hospital segment is anticipated to dominate the market owing to advancements in the hospital infrastructure, rise in the number of multispecialty hospitals and rising patient population across the world.
The North America region is predicted to dominate the market owing to a strong presence of key market players in the region. Furthermore, unprecedented advancements in the healthcare infrastructure in the region shall boost its market growth. Additionally, there has been a rising awareness amongst patients regarding neurological disorders and alternatives to treat them.