The global Implantable electroceuticals/bioelectric medicine market size is expected to reach USD 26.29 Billion in 2030 and register a revenue CAGR of 5.1% over the forecast period, according to latest report by Reports and Data. Increasing prevalence of chronic diseases and technological advancements in the electroceutical field are driving Implantable electroceuticals/bioelectric medicine market revenue growth.

Electroceutical devices or bioelectric medicine are being widely used in the treatment of several neurological disorders, such as Parkinson’s disease, Obsessive Compulsive Disorder (OCD), epilepsy, Alzheimer’s disease, dystonia, and essential tremor. It is effective in diagnosis and treatment of all disorders related to central and peripheral nervous systems, along with their subdivisions that include autonomic and somatic nervous systems.

Some Key Factors Contributing to the Global Pharma Healthcare Market Growth

Unprecedented revenue growth of the global pharma healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in RD activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.

Some Key Highlights from the Report

  • In January 2021, Boston Scientific Corporation, a U.S.-based manufacturer of medical devices, received authorization from the U.S. Food and Drug Administration (FDA) for its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System. These devices are Bluetooth-enabled and are rechargeable or non-rechargeable based on doctor and patient preference. These would help to treat Parkinson’s disease by providing electrical impulses through surgically implanted leads in the brain, which are connected to Implantable Pulse Generator (IPG).
  • Cardiac pacemakers segment revenue is expected to grow at a steady rate during the forecast period. Cardiac pacemakers have the ability to regulate heartbeats in conditions where natural system of the heart cannot do it, and it also improves heart’s efficiency by ensuring the atria and ventricle work together. In addition, it helps in detection and rectification of the causes of atrial fibrillation or irregular heartbeat. Cardiac pacemakers can also help in preventing heart failure by ensuring proper functioning of the heart’s electrical system.
  • Implantable electroceutical segment accounted for largest revenue share in 2020, owing to their increasing adoption due to several benefits, such as compact small design of devices, biodegradability, functionality of devices, and conformability. Wearable and Implantable Electroceuticals (WIEs) are widely being used in several applications, including muscle activation, heart stimulation, skin rejuvenation, and nerve modulation, and these devices accommodate several other therapeutic modalities as well. WIEs are mainly designed to activate the vagus nerve to improve heartbeat and breathing, and they are widely being used in the treatment of cardiac failure and epilepsy. For instance, NeuroPace Responsive Neural Stimulation (RNS) system is used to treat intractable epilepsy, while artificial pacemaker is the most widely used implantable electroceutical device for treating heart failure.
  • Parkinson’s disease segment accounted for a significantly large revenue share in 2020, which can be attributed to increasing use of Deep Brain Stimulation (DBS) for treating Parkinson’s disease. In treating Parkinson’s disease, DBS supplies electrical impulses to the particular area of the brain, which is accountable for motor symptoms generated by the disease. Electrical impulses interrupt abnormal activity in the brain circuitry and thus, minimizes symptoms of the condition.
  • Hospital segment accounted for a significantly large revenue share in 2020, which can be attributed to increasing pressure on these facilities due to growing incidence of several chronic diseases, such as epilepsy, retinitis pigmentosa, and arrhythmia. Electroceuticals/bioelectric devices are effective in minimizing severity of these diseases, which is increasing demand for these devices in hospitals.
  • Market in North America accounted for largest revenue share in 2020. Increase in geriatric population, coupled with rising use of retinal implants, are accelerating Implantable electroceuticals/bioelectric medicine market growth in the region. Additionally, presence of a highly developed healthcare sector and easy accessibility to advanced products are facilitating market revenue growth in the region. Presence of leading medical device manufacturers, such as Biotronic and Boston Scientific Corporation, is also contributing to market revenue growth.

Top Players in the Global Implantable electroceuticals/bioelectric medicine Market:

Boston Scientific Corporation, Abbott, Cochlear, Biotronik, LivaNova, PLC, electroCore, Inc., Sonova, Neuronetics, MicroPort Scientific Corporation, and NeuroPace, Inc.

The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma healthcare industry revenue growth over the recent past.  

Implantable electroceuticals/bioelectric medicine Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2018–2030)

  • Cardiac Pacemakers
  • Implantable Cardioverter Defibrillators
  • Stimulators
    • Spinal Cord
    • Deep Brain
    • Vagus Nerve
    • Sacral Nerve
  • Implants
    • Retinal
    • Cochlear
  • Transcutaneous Electrical Nerve Stimulation
  • Others

Device Type Outlook (Revenue, USD Billion; 2018–2030)

  • Implantable Electroceutical
  • Non-invasive Electroceutical

Application Outlook (Revenue, USD Billion; 2018–2030)

  • Depression
  • Chronic Pain
  • Tremor
  • Epilepsy
  • Menstrual Migraine
  • Arrhythmia
  • Parkinson’s Disease
  • Spinal Cord Injury
  • Sensorineural Hearing Loss
  • Retinitis Pigmentosa
  • Urinary and Fecal Incontinence
  • Others

End-Use Outlook (Revenue, USD Billion; 2018–2030)

  • Hospitals
  • Individual Users
  • Homecare Centers
  • Ambulatory Surgical Centers
  • Specialty Clinics
  • Others

Global Implantable electroceuticals/bioelectric medicine Market Report: Regional Segmentation

  • North America
    • S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East Africa
    • Saudi Arabia
    • A.E.
    • South Africa
    • Rest of MEA

Global Implantable electroceuticals/bioelectric medicine Market: Table of Contents

Chapter 1. Methodology Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

       1.4.1. Primary Sources

       1.4.2. Secondary Sources

       1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

Chapter 3. Key Insights

Chapter 4. Global Pharma Healthcare Market Segmentation 

4.1. Global Pharma Healthcare Market COVID-19 Impact Analysis

4.2. Industrial Outlook

       4.2.1. Market indicators analysis

       4.2.2. Market drivers’ analysis

       4.2.3. Market restraints analysis

 4.3. Technological Insights

 4.4. Porter’s Five Forces Analysis

 4.5. Regulatory Framework

 4.6. Price trend Analysis

 4.7. Competitive Metric Space Analysis

Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/1447

Read More Reports:

Oral Care Market @ https://www.reportsanddata.com/report-detail/oral-care-market

Snake Anti-Venom Market @ https://www.reportsanddata.com/report-detail/snake-anti-venom-market

Nasal Cannula Market @ https://www.reportsanddata.com/report-detail/nasal-cannula-market

Microscopy Devices Market @ https://www.reportsanddata.com/report-detail/microscopy-devices-market

Frequently Asked Questions Answered in the Report:

  • What is the estimated revenue growth rate of the global Implantable electroceuticals/bioelectric medicine market over the forecast period?
  • What are the major factors driving the global market revenue growth?
  • Which are the leading manufacturers and suppliers in the global Implantable electroceuticals/bioelectric medicine market?
  • Which regional market is expected to lead in terms of revenue share in the global Implantable electroceuticals/bioelectric medicine market over the forecast years?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

Thank you for reading our report. Please connect with us to know more about the report and its customization feature. Our team will ensure the report is well suited to meet your requirements.

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.