Bioelectric Medicine Market Hits USD 35.5 Billion By 2025: By Grand View Research, Inc.
The global electroceuticals/bioelectric medicine market is
expected to reach USD 35.5 billion by 2025, according to a new report by Grand
View Research, Inc. Rising geriatric population is the major factor that is
expected to propel growth during the forecast period. Aging population is prone
to various diseases such as cardiac arrhythmias, Parkinson's disease,
Alzheimer's disease, epilepsy, and depression. There are various advanced
electroceuticals including implantable cardioverter defibrillators, cochlear
implants, cardiac pacemakers, and spinal cord stimulators, which can be used
for the treatment of these conditions.
Increasing investment in the
development of advanced bioelectric medicine is another major factor supporting
the growth of the electroceuticals market. For instance, in FY 2016, Medtronic,
a leading bioelectric medicine manufacturer, invested around USD 2,224 million
in R&D for development of advanced products. Technological advancements in
these products propel their adoption in treatment of chronic diseases such as
cardiac arrhythmias and Parkinson's disease. The technological advanced
electroceuticals provide high reliability and efficiency during treatment.
U.S.
electroceuticals/bioelectric medicine market by application, 2014-2025 (USD
million)
Browse full research report on
Bioelectric Medicine Market
Further key findings from
the report suggest:
- Implantable
cardioverter defibrillators segment was the largest revenue-generating
segment of the electroceuticals market in 2016 owing to large application
of these products for the treatment of arrhythmia
- The
implantable electroceuticals devices segment accounted for the largest
revenue share in the bioelectric medicine market in 2016 owing to
technological advancements
- In the
application segment, the arrhythmia segment accounted for the largest
share in 2016 and is expected to maintain its dominance throughout
forecast period
- The hospitals
dominated the electroceuticals market in terms of revenue in 2016 due to
the escalating number of electroceutical devices implant procedures in
hospitals
- The North
America bioelectric medicine market is the leading regional sector and
accounted for the largest revenue share in 2016 mainly due to the
existence of large number of medical devices companies in this region
- The Asia
Pacific region is expected to grow at a highest growth rate during the
study period. The developing healthcare infrastructure and rising
healthcare awareness in the Asian countries such as China and India is a
major factor contributing to the growth in this region
- Some of the
major players include Medtronic; St. Jude Medical; Boston Scientific
Corporation; Cochlear Ltd.; Sonova; LivaNova PLC; Biotronik; Nevro Corp.;
SECOND SIGHT; and electroCore LLC.
About Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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