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.
 |
U.S. electroceuticals/bioelectric medicine market by application,
2014-2025 (USD million)
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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.
In depth
research report on Electroceuticals/Bioelectric Medicine Market
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.
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
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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, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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