DUBLIN, July 28, 2021 /PRNewswire/ -- The "Electroceuticals/Bioelectric Medicine Market by Product (Pacemaker, ICD, Cochlear Implant, Deep Brain, Spinal Cord, Vagus, Sacral Nerve Stimulators), Application (Ischemia, Epilepsy), Type (Implantable, Noninvasive), End User - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global electroceuticals/bioelectric medicine market is projected to reach USD 21.5 billion by 2026 from USD 16.8 billion in 2021, at a CAGR of 5.0%
Market growth is driven by factors such as the increasing investments and funding for research on CRM devices, rising government support & funding for neurological disorders, and the rising geriatric population and subsequent growth in the prevalence of neurological & cardiovascular disorders.
On the other hand, the high cost of electroceutical devices and the requirement of high capital investments are the major factors hampering the growth of this market.
"The cochlear implants segment accounted for the highest growth rate in the electroceuticals market, by product, during the forecast period"
The electroceuticals market is segmented into cardiac pacemakers & implantable cardioverter defibrillators, spinal cord stimulators, cochlear implants, deep brain stimulators, transcutaneous electrical nerve stimulators, vagus nerve stimulators, sacral nerve stimulators & gastric electrical stimulators, and other electrical stimulators based on product.
In 2020, the cochlear implants segment accounted for the highest growth rate in the electroceuticals market. The increasing prevalence of hearing loss is a major factor contributing to the growth of this segment.
"Hospitals, clinics, and ASCs segment accounted for the highest CAGR"
Based on end users, the electroceuticals market is segmented into hospitals, clinics, and ASCs; and other end users. In 2020, the hospitals, clinics, and ASCs segment accounted for the highest growth rate. This can be attributed to the increasing adoption of electroceutical devices to serve a large patient pool.
" Asia Pacific: The fastest-growing region electroceuticals market"
The global electroceuticals market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period.
Factors such as the rising healthcare spending, increasing pharmaceutical research funding, increasing government efforts to increase awareness about early disease detection, expansion of private-sector hospitals to rural areas in various APAC countries, and the presence of high-growth markets in the region are driving the growth of the electroceuticals market in this region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights4.1 Electroceuticals Market OverviewFigure 15 Rising Prevalence of Cardiovascular & Neurological Disorders to Drive the Market Growth4.2 Electroceuticals Market Share, by Product, 2021 Vs. 2026Figure 16 Cardiac Pacemakers & Implantable Cardioverter Defibrillators Segment Will Continue to Dominate the Market in 20264.3 Electroceuticals Market Share, by Type, 2021 Vs. 2026Figure 17 Implantable Electroceutical Devices Segment to Dominate the Market During the Forecast Period4.4 Electroceuticals Market Share, by End-user, 2021 Vs. 2026Figure 18 Hospitals, Clinics, and Ascs to Continue to Dominate the Market in 20264.5 Electroceuticals Market: Geographic Growth OpportunitiesFigure 19 Asia-Pacific to Register the Highest Growth Rate in the Electroceuticals Market During the Forecast Period
5 Market Overview5.1 Introduction5.2 Market Dynamics5.2.1 Drivers22.214.171.124 Rising Geriatric Population and Subsequent Growth in the Prevalence of Neurological & Cardiovascular Disorders126.96.36.199 Rising Government Support & Funding for Neurological Disorders188.8.131.52 Increasing Investments and Funding for Research on CRM Devices5.2.2 Restraints184.108.40.206 High Cost of Electroceutical Devices5.2.3 Opportunities220.127.116.11 Emerging Markets5.2.4 Challenges18.104.22.168 the Dearth of Trained Professionals22.214.171.124 Challenges Associated with Battery Life and Device Replacement5.3 Impact of COVID-19 on the Electroceuticals/ Bioelectric Medicine Market5.4 Ranges/ Scenarios5.4.1 Electroceuticals/Bioelectric Medicine Market5.5 Pricing Analysis5.6 Patent Analysis5.6.1 Patent Analysis of Cardiac Pacemakers5.6.2 Patent Analysis of Cochlear Implants5.7 Trade Analysis5.7.1 Trade Analysis for Pacemakers5.8 Value Chain Analysis5.9 Supply Chain Analysis5.10 Ecosystem Analysis of the Electroceuticals/ Bioelectric Medicine Market5.10.1 Role in Ecosystem5.11 Porter's Five Forces Analysis5.12 Regulatory Landscape5.13 Technology Analysis5.14 Trends/Disruptions Impacting Customer's Business5.14.1 Revenue Shift & Revenue Pockets for Electroceutical Devices Manufacturers5.14.2 Revenue Shift for Electroceuticals/Bioelectric Medicine Market
- Medtronic plc
- Abbott Laboratories, Inc.
- Boston Scientific Corporation
- Cochlear Ltd.
- Livanova plc
- Microport Scientific Corporation
- Sonova Group
- Nevro Corp.
- Axonics Modulation Technologies, Inc.
- Second Sight Medical Products, Inc.
- Neuronetics, Inc.
- Neuropace, Inc.
- Medico S.P.A.
- Nurotron Biotechnology Co. Ltd.
- Aleva Neurotherapeutics Sa
- Neurosigma, Inc.
- Biowave Corporation
- Soterix Medical Inc.
- Bioinduction Ltd
- Gimer Medical
- Biocontrol Medical
- Tvns Technologies Gmbh
For more information about this report visit https://www.researchandmarkets.com/r/oqxn8j
Research and Markets Laura Wood, Senior Manager firstname.lastname@example.org For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1904 Fax (outside U.S.): +353-1-481-1716
View original content: https://www.prnewswire.com/news-releases/global-electroceuticalsbioelectric-medicine-markets-2021-2026---increasing-investments-and-funding-for-research-on-crm-devices-driving-growth-301343301.html
SOURCE Research and Markets