The global Vagal Nerve Stimulation Market Growthis expected to balloon at 8.68% CAGR during the forecast period (2017-2023). Rise in number of neurological disorders such as epilepsy, depression, migraine, and others is one of the biggest drivers of the market. According to the World Health Organization (WHO), neurological disorders accounted for 4.5-11% of all diseases in low-income and mid-income economies. High need for better treatment techniques and influx of capital into research and development by pharmaceutical and biotechnology firms can create opportunity of growth for the market.
Development of novel technologies for epilepsy treatment and favorable reimbursement policies proposed by governments in alliance with health coverage companies can persuade patients for the treatment. Research for the management and treatment of muscle function and organ disorders is likely to widen the scope of VNS manufacturers in the market.
Paucity of skilled surgeons and high costs of neurostimulation devices can pose a challenge to the market growth. Side-effects of cardiac arrest and probability of triggering a stroke can lead to hesitancy among doctors for prescribing the treatment.