Bioelectric Medicine Market Regional Analysis, Key Players, Opportunities and Forecast to 2030
The bioelectric medicine market can
anticipate reaching USD 31.65 billion by 2030 while attaining a 6.46% CAGR from
2022 to 2030, reveals Market Research Future (MRFR).
Bioelectric medicine, also known as electroceuticals, is an emerging
field in healthcare that aims to treat various medical conditions using
electrical impulses. These electrical impulses are delivered through implantable
devices or non-invasive methods, such as transcutaneous electrical nerve
stimulation (TENS) or transcranial magnetic stimulation (TMS).
Primary
Boosters and Restraints
By combining bioengineering, molecular medicine, and neurology,
bioelectric medicine creates nerve-stimulating devices for the control of
biological processes during disease treatment. The main factor projected to
drive the market is the increased prevalence of chronic diseases like cardiac
and neurological problems. According to the CDC, over 610 thousand Americans
per year pass away from cardiac problems. About 370 of them pass away from
coronary heart disease (CHDs). Due to the high demand for advanced bioelectric
medicine to treat these chronic diseases, the market is anticipated to grow
quickly.
Segment Analysis
By Type
Implantable
Electroceutical Devices as well as Non-invasive Electroceutical Devices are the
major types of bioelectric medicines.
By Product
Cardiac Pacemakers, Implantable Cardioverter Defibrillators, Spinal Cord
Stimulators, Cochlear Implants, Transcutaneous Electrical Nerve Stimulators,
Deep Brain Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators, and
others are the key products specified in the report.
By Application
Sensorineural
Hearing Loss, Epilepsy, Pain Management, and Arrhythmia are some of the main applications of
bioelectric medicines.
By End User
ASCs, Hospitals
& Clinics, and others are the market end-users listed in the study.
Major Key
Players:
Abbott, Cochlear
Ltd, LivaNova PLC, ElectroCore, Inc., Medtronic Plc, Sonova, Nevro Corp.,
Boston Scientific Corporation, Stimwave LLC, Biotronik SE & Co KG are a Bioelectric Medicine Market Players.
Regional Analysis
Out of all the regions, the bioelectric medicine market will perform
tremendously well in North America, given the increased prevalence of chronic
diseases like cardiovascular and neurological disorders. The CDC estimates that
heart disease causes about 610 thousand deaths in the US each year. The cause
of death for about 370 of them is coronary heart disease. Because of the
increased need for improved bioelectric therapy to treat these persistent
illnesses, the market is anticipated to develop. Additionally, North America
dominated the market in 2021 due to the presence of medical device producers
like Abbott (US) and Boston Scientific Corporation (US).
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Future
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