SEATTLE, Feb. 28, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the Vagus Nerve Stimulators market size was valued at US$ 445.1 million in 2018, and is projected to exhibit a CAGR of 9.0% over the forecast period (2018–2026).
Key Trends and Analysis of the Vagus Nerve Stimulators Market:
In the recent past, various major players in the market received approvals and launched their new vagus nerve stimulators in key markets. Frequent approvals and launches of such innovative and advanced products is expected to create conducive environment for vagus nerve stimulators market growth over the forecast period.
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For instance, in November 2018, electroCore, Inc. received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for an expanded label for gammaCore [non-invasive vagus nerve stimulator (nVNS)] therapy for adjunctive use for the preventive treatment of cluster headache in adult patients.
Key players in the market are indulged in robust research and development activities for the development of novel vagus nerve stimulation therapies. Various key players have their vagus nerve stimulators in late phase clinical trial, which are expected to get approval in the near future. Hence, presence of such robust pipeline of new vagus nerve stimulator is expected to drastically drive the vagus nerve stimulators market growth over the forecast period.
For instance, in October 2018, SetPoint Medical announced the completion of enrollment in the U.S. Food and Drug Administration (FDA) pilot Investigational Device Exemption (IDE) study evaluating its proprietary bioelectronic device to treat patients with drug refractory rheumatoid arthritis (RA)
In February 2019, LivaNova Plc, announced that the U.S. Centers for Medicare & Medicaid Services (CMS) finalized its National Coverage Determination (NCD) for the LivaNova vagus nerve stimulation therapy (VNS Therapy) System for treatment-resistant depression (TRD). Such favorable reimbursement regulations in the U.S. for VNS is also expected to increase its adoption and drive vagus nerve stimulators market growth
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/vagus-nerve-stimulators-market-2514
Key Market Takeaways:
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