Global Electroceuticals/Bioelectric Medicine Market By Product (Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Spinal Cord Stimulators, Cochlear Implants, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators, Retinal Implants), By Type of Device (Implantable Electroceutical, Non-Invasive Electroceutical), By Application (Cardiac Pacemakers & Implantable Cardioverter Defibrillators, Spinal Cord Stimulators, Cochlear Implants, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators, Retinal Implants), By End User (Hospitals, Clinics, Research Institutes, Individual Users), By Geography - Industry Trends and Forecast to 2024
Market Analysis: Global Electroceuticals/Bioelectric Medicine Market
The electroceuticals/bioelectric medicine market accounted to USD 17.26 Billion in 2016 growing at a CAGR of 8.1% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Electroceuticals/Bioelectric Medicine Market
Bioelectric medicine combines bioengineering, molecular medicine, and neuroscience to develop nerve-stimulating technologies for the parameter of biological processes during treatment of disease. Increasingincidences of chronic diseases such as cardiac and neurological disorders leads to the market growth. Thus, there is high demand for advanced bioelectric medicine for the treatment of these chronic disorders.
Major market drivers and restraints:
- Increase in prevalence of chronic disease.
- Regulatory consent for new and innovative electroceuticals.
- Rise in investments and funds for the growth of innovative therapies and electroceuticals
- Growing prevalence of hearing loss.
- High price of cochlear implantation.
- Lack of skilled professionals
Market Segmentation: Global Electroceuticals/Bioelectric Medicine Market
The electroceuticals/bioelectric medicine market is segmented by product into implantable cardioverter defibrillators, cardiac pacemakers, spinal cord stimulators, cochlear implants, deep brain stimulators, transcutaneous electrical nerve stimulators, vagus nerve stimulators, sacral nerve stimulators and retinal implants.
By type of device the market is segmented into implantable electroceutical devices and non-invasive electroceutical devices.
By application the market is further segmented into cardiac pacemakers and implantable cardioverter defibrillators market, spinal cord stimulators market, cochlear implants market, deep brain stimulators market, transcutaneous electrical nerve stimulators market, vagus nerve stimulators market, sacral nerve stimulators market, retinal implants market and others.
Cardiac pacemakers and implantable cardioverter defibrillators marketis sub segmented by application into arrhythmia.Spinal cord stimulators (SCS) market is sub segmented by application into chronic pain, failed back syndrome (FBSS) and ischemia.Cochlear implants market is sub segmented by application into sensorineural hearing loss.Deep brain stimulators (DBS) market is sub segmented by application into Parkinson’s disease, tremor, depression and other. Transcutaneous electrical nerve stimulators (TENS) market is sub segmented by application into treatment-resistant depression and other.Vagusnerve stimulators market is sub segmented by application into epilepsy and other.Sacral nerve stimulators (SNS) market is sub segmented by application into urinary incontinence and fecal incontinence.Retinalimplants market is sub segmented by application into retinitis pigmentosa.Other market is sub segmented by application into gastroparesis obesity, depression, migraine and spinal cord injury.
By end user the market is segmented into hospitals, clinics, research institutes and individual users.
On the basis of geography, electroceuticals/bioelectric medicine market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, andBrazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Electroceuticals/Bioelectric Medicine Market
The electroceuticals/bioelectric medicine market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electroceuticals/bioelectric medicine market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Electroceuticals/Bioelectric Medicine Market
Some of the major players operating in electroceuticals/bioelectric medicine market areMedtronic, Abbott, Boston Scientific Corporation, Cochlear Ltd., Livanova PLC, Sonova, BIOTRONIK SE & Co. KG, Nevro Corp., SECOND SIGHT, electroCore LLC, Synapse electroceutical Ltd., BioElectronics Corporation, SetPoint Medical, Inc., Bright Medical Ltd, GlaxoSmithKline Plc, EnteroMedics Inc., Alphabet Inc., The Medicines Company, FRV ELECTROCEUTICALS and Valencia Technologies Corporationamong others.
Research Methodology: Global Electroceuticals/Bioelectric Medicine Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an analyst call or drop down your enquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.