The Global Electroceuticals-Bioelectric Medicine Market report comprehend disadvantages, openings, conditions, estimations and data utilizing accomplished research techniques and checked systems. The report gives an uncommon encounter of imaginative arrangements and results. Locale that has obtained the main position in this Global Electroceuticals-Bioelectric Medicine Market is foreseen to remain so throughout the following couple of years. To find the more open doors over the globe various successful deals and techniques have been recorded in this Global Electroceuticals-Bioelectric Medicine Market research report.
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 by 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.
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Major Market Competitors:
Some of the major players operating in electroceuticals/bioelectric medicine market are-Medtronic, 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.
Bioelectric medicine combines bioengineering, molecular medicine, and neuroscience to develop nerve-stimulating technologies for the parameter of biological processes during treatment of disease. Increasing incidences 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 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 (APAC, Europe, Middle East, Africa, North America & South America)
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.
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