The global electroceuticals/bioelectric medicine market is expected to reach USD 35.5 billion by 2025, according
to a new report by Grand View Research, Inc. Rising geriatric population is the
major factor that is expected to propel growth during the forecast period.
Aging population is prone to various diseases such as cardiac arrhythmias,
Parkinson's disease, Alzheimer's disease, epilepsy, and depression. There are
various advanced electroceuticals including implantable cardioverter
defibrillators, cochlear implants, cardiac pacemakers, and spinal cord
stimulators, which can be used for the treatment of these conditions.
Increasing investment in
the development of advanced bioelectric medicine is another major factor
supporting the growth of the electroceuticals market. For instance, in FY 2016,
Medtronic, a leading bioelectric medicine manufacturer, invested around USD
2,224 million in R&D for development of advanced products. Technological
advancements in these products propel their adoption in treatment of chronic
diseases such as cardiac arrhythmias and Parkinson's disease. The technological
advanced electroceuticals provide high reliability and efficiency during
treatment.
Browse full report by Grand View Research:
Further
Key Findings From The Report Suggest:
·
Implantable cardioverter defibrillators
segment was the largest revenue-generating segment of the electroceuticals
market in 2016 owing to large application of these products for the treatment
of arrhythmia
·
The implantable electroceuticals devices
segment accounted for the largest revenue share in the bioelectric medicine
market in 2016 owing to technological advancements
·
In the application segment, the arrhythmia
segment accounted for the largest share in 2016 and is expected to maintain its
dominance throughout forecast period
·
The hospitals dominated the
electroceuticals market in terms of revenue in 2016 due to the escalating
number of electroceutical devices implant procedures in hospitals
·
The North America bioelectric medicine
market is the leading regional sector and accounted for the largest revenue
share in 2016 mainly due to the existence of large number of medical devices
companies in this region
·
The Asia Pacific region is expected to grow
at a highest growth rate during the study period. The developing healthcare
infrastructure and rising healthcare awareness in the Asian countries such as
China and India is a major factor contributing to the growth in this region
·
Some of the major players include
Medtronic; St. Jude Medical; Boston Scientific Corporation; Cochlear Ltd.;
Sonova; LivaNova PLC; Biotronik; Nevro Corp.; SECOND SIGHT; and electroCore
LLC.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the global electroceuticals market on the basis of product, type,
application, end-use, and region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
·
Implantable cardioverter defibrillators
·
Cardiac pacemakers
·
Cochlear implants
·
Spinal cord stimulators
·
Deep brain stimulators
·
Transcutaneous electrical nerve stimulators
·
Sacral nerve stimulators
·
Vagus nerve stimulators
·
Other bioelectric medicines
Type Outlook (Revenue, USD Million; 2014 - 2025)
·
Implantable electroceutical devices
·
Noninvasive electroceutical devices
Application Outlook (Revenue, USD Million; 2014 - 2025)
·
Arrhythmia
·
Pain management
·
Sensorineural hearing loss
·
Parkinson’s disease
·
Tremor
·
Depression
·
Treatment-resistant depression
·
Epilepsy
·
Urinary and fecal incontinence
·
Others
End-Use Outlook (Revenue, USD Million; 2014 - 2025)
·
Hospitals
·
Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o UK
·
Asia Pacific
o Japan
o China
o India
·
Latin America
o Brazil
o Mexico
·
MEA
o South Africa
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-electroceuticals-bioelectric-medicine-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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