Global Electroceuticals/Bioelectric Medicine Market study offers detail overview of industry with all the requisite data to support tactical business decisions and come up with strategic growth plans. This study also proposes a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures.
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The global
electroceuticals/bioelectric medicine market size was estimated at USD 17.2
billion in 2016 and is anticipated to reach USD 35.5 billion by 2025.
Electroceuticals/Bioelectronics is the branch of emerging medicine that
utilizes electrical impulses to control the body’s neural circuits as a
substitute to drug-based interventions. These electroceutical devices primarily
recite and transform electrical signals passing along the nerves of the body comprising
irregular or different impulses that occur in association with a wide range of
diseases.
The factors that propel the
growth of the global Electroceuticals/Bioelectrical Medicine Market include
high-tech advancements, increase in disposable income, increasing incidences of
hearing loss, expanding geriatric population, development of new therapies,
rising prevalence of neurological disorders, and increasing capital
investment. On the other hand, there are
also factors that hamper the growth of the global
Electroceuticals/Bioelectrical Medicine Market like the dearth of trained
professionals.
The global
Electroceuticals/Bioelectrical Medicines Market is classified on the basis of
product, type of device, end-user, application, and geography On the basis of products, the global
Electroceuticals/Bioelectrical Medicine Market is classified as Cochlear
Implants, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators,
Vagus Nerve Stimulators, Cardiac Pacemakers, Spinal Cord Stimulators, Sacral
Nerve Stimulators, Retinal Implants, Implantable Cardioverter Defibrillators,
and the other Electrical Stimulators. In 2016, the Implantable Cardioverter
Defibrillators sector is projected to hold the largest share of the global
Electroceuticals/Bioelectrical Market. Nevertheless, during the forecast
period, the Retinal Implants are anticipated to grow at the highest rate.
On the basis of type of
device, the global Electroceuticals/Bioelectrical Medicine Market is classified
into two major classes: Implantable Electroceuticals Devices and Non-Invasive
Electroceuticals Devices. As of 2016, the Implantable Electroceuticals Devices
dominate the largest share of the Electroceuticals/Bioelectrical Medicine
Market. On the other hand, during the forecast period, the Non-Invasive
Electroceuticals Devices is estimated to grow at the highest rate.
On the basis of end-user,
the global Electroceuticals/Bioelectrical Medicine Market is classified as
Hospitals, Individual Users, and Research Institutes. In 2016, the largest
market share was dominated by hospitals. However, during the forecast period
the individual users are anticipated to hold the highest share. On the basis of application, the global
Electroceuticals/Bioelectrical Medicine Market is classified as Cardiac
Pacemakers, Implantable Cardioverter Defibrillators. Transcutaneous Electrical
Nerve Stimulators, Sacral Nerve Stimulators, Spinal Cord Stimulators, Cochlear
Implants, Deep Brain Stimulators, Vagus Nerve Stimulators, and the other
Electrical Stimulators,
On the basis of geography,
the global Electroceuticals/Bioelectrical Medicine Market is classified as
North America, Europe, Asia Pacific, and Rest of the World. North America is
projected to dominate the largest share of the global Electroceuticals/Bioelectrical
Market. The factors that attribute to the large market share by North America
are growing incidences of diabetes and cancer, rising occurrence of hearing
loss, increasing prevalence of arrhythmia, high frequency of chronic diseases,
and so on. Nevertheless, during the forecast period, Asia Pacific region is
anticipated to rise at the highest growth rate owing to factors like increasing
geriatric population, rising prevalence of diabetes, growing occurrence of loss
in hearing, and so on.
Some of the prominent
players that fuel the growth of the global Electroceuticals/Bioelectrical
Medicine Market include Cefaly Technology, Stimwave LLC, Vomaris Innovations,
Inc., EnteroMedics Inc., NeuroSigma, Inc., Second Sight Medical Products, Inc.,
ElectroCore LLC, BioElectronics Corporation, MED-EL, Oticon Medical, Medtronic
plc, St. Jude Medical, Inc., Boston Scientific Corporation, Cochlear Limited,
Sonova Holding AG, LivaNova PLC, Biotronik, and Nevro Corporation.
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