The global demand for Bioelectric Medicine Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Bioelectric medicine refers to the medical devices that use electrical pulses to modulate the body's neural circuits. It is also popular as an electroceutical. It develops nerve stimulating and sensor activation technologies to regulate biological functions and treat diseases. It combines different technologies such as bioengineering, neuroscience, molecular medicines, electronics and computing etc. It treats various conditions, including rheumatoid arthritis, diabetes, paralysis, cancer, etc. It provides the targeted treatment and controls the neural signals going to specific organs. It avoids the problems of conventional dosage forms.
The key factor driving the demand for the bioelectric medicine market is the growing adoption of electroceuticals for the treatment of various neurological and cardiac disorders such as Parkinson's disease, dystonia and epilepsy. An increase in the geriatric population at risk of neurological and CVD diseases is surging the demand for this market. Moreover, rising research and development activities in bioelectric medical coupled with increasing investment by different organizations for the development of advanced bioelectric medicines are expanding the growth of this market. Furthermore, increasing approvals for bioelectric medicine products by the regulatory authorities is augmenting the demand for this market. However, stringent government rules and regulations for the development & manufacture of medical devices may hinder the growth of this market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of bioelectric medicine. The growth and trends of bioelectric medicine industry provide a holistic approach to this study.
This section of the bioelectric medicine market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Cardiac Pacemakers
- Implantable Cardioverter Defibrillators
- Spinal Cord Stimulators
- Cochlear Implants
- Deep Brain Stimulators
- Sacral Nerve Stimulators & Gastric Electrical Stimulators
- Transcutaneous Electrical Nerve Stimulators
- Vagus Nerve Stimulators
- Other Electrical Stimulators
- Implantable Electroceutical Devices
- Noninvasive Electroceutical Devices
By End Use
- Chronic Pain
- Failed Back Surgery Syndrome
- Cerebral Ischemia
- Urinary Incontinence
- Fecal Incontinence
- Parkinson’S Disease
- Treatment-Resistant Depression
- Ambulatory Surgery Centers
This section covers the regional outlook, which accentuates current and future demand for the Bioelectric Medicine market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Bioelectric Medicine Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the bioelectric medicine market include Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Inc., LivaNova PLC, Cochlear Ltd., MicroPort Scientific Corporation, Sonova Group, Nevro Corp., Axonics Modulation Technologies, Inc., Neuronetics, Inc., Second Sight Medical Products, Inc, NeuroPace, Inc., BIOTRONIK, Medico S.p.A., Nurotron Biotechnology Co. Ltd., MED-EL, Aleva Neurotherapeutics SA, NeuroSigma, Inc., BioWave Corporation, Soterix Medical Inc. (US), Bioinduction Ltd., GiMer Medical, Cefaly, and BioControl Medical. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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Frequently Asked Questions (FAQs) about this Report
b. In 2021, the global market size for bioelectric medicine was worth USD 21.1 Billion.
b. Between 2023 and 2028, the worldwide bioelectric medicine market growth is projected to be nearly 6.8%.
b. North America accounts for the largest market share of the global bioelectric medicine market.
b. The global bioelectric medicine market is segmented by Product (Cardiac Pacemakers, Implantable Cardioverter Defibrillators, Spinal Cord Stimulators, Cochlear Implants, Deep Brain Stimulators, Sacral Nerve Stimulators & Gastric Electrical Stimulators, Transcutaneous Electrical Nerve Stimulators, Vagus Nerve Stimulators, Other Electrical Stimulators), by Type (Implantable Electroceutical Devices, Noninvasive Electroceutical Devices), by Application (Chronic Pain, Arrhythmia, Failed Back Surgery Syndrome, Cerebral Ischemia, Urinary Incontinence, Fecal Incontinence, Gastroparesis, Parkinson’s Disease, Tremors, Depression, Treatment-resistant Depression, Epilepsy, Others), by End Use (Hospitals, Clinics, Ambulatory Surgery Centers, Others).
b. The leading players in the global bioelectric medicine market are Medtronic plc, Boston Scientific Corporation, Abbott Laboratories Inc., LivaNova PLC, Cochlear Ltd., MicroPort Scientific Corporation, Sonova Group, Nevro Corp., Axonics Modulation Technologies Inc., Neuronetics Inc., Second Sight Medical Products Inc, NeuroPace Inc., BIOTRONIK, Medico S.p.A., Nurotron Biotechnology Co. Ltd., MED-EL, Aleva Neurotherapeutics SA, NeuroSigma Inc., BioWave Corporation, Soterix Medical Inc. (US), Bioinduction Ltd., GiMer Medical, Cefaly, and BioControl Medical.