Global Bioelectric Medicine Market Research Report Information by Type, by Product, By Application, By End User, By Region

Description

List of Tables

Global Bioelectric Medicine Market Research Report Information by Type (Implantable Electroceutical Devices and Non-invasive Electroceutical Devices), by Product (Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Cochlear Implants, Spinal Cord Stimulators, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, And Others), By Application (Arrhythmia, Pain Management, Sensorineural Hearing Loss, Epilepsy, And Others), By End User (Hospitals & Clinics, ASCs, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

Market Overview

The Bioelectric Medicine Market is expected to expand at a compound annual growth rate (CAGR) of 6.53% over the projected period. The Bioelectric Medicine industry is being driven by rising prevalence of chronic diseases around the world, as well as increased strategic initiatives by industry participants. According to the World Health Organization, 18 million individuals suffered from rheumatoid arthritis in 2019, with 70% of them being women and 55% being over the age of 55. Furthermore, Crohn's & Colitis UK estimated that one in every 123 persons in the UK will have Crohn's disease or ulcerative colitis by 2022. However, the high cost of bioelectric medical devices is projected to hinder global market growth. Nonetheless, expanding clinical trials for bioelectric medicine and increased investment in bioelectric medicine by market participants are expected to generate profitable prospects for the industry.

The increasing prevalence of chronic diseases around the world is considerably contributing to the expansion of bioelectric medicine. Chronic diseases, including chronic pain conditions, neurological disorders, inflammatory diseases, and metabolic disorders, place a significant strain on healthcare systems and have a negative influence on patients' quality of life. Traditional treatment approaches, such as medicines and surgery, may have limited success or carry concerns of side effects for some people. The increasing prevalence of disorders, together with bioelectric medicine's prospective applicability in these circumstances, is driving up demand for bioelectric medicine products. For example, deep brain stimulation (DBS) has been proven to be effective in treating Parkinson's disease symptoms by regulating aberrant neural activity. Similarly, neuromodulation devices such as vagus nerve stimulation (VNS) have showed efficacy in lowering seizure frequency in epilepsy patients. Furthermore, in February 2024, the World Health Organization stated that approximately 50 million individuals worldwide suffer from epilepsy, with nearly 80% living in low- and middle-income nations.

Market Segment insights

Product-wise, the global bioelectric medicine segment includes implantable cardioverter defibrillators, cardiac pacemakers, cochlear implants, spinal cord stimulators, deep brain stimulators, transcutaneous electrical nerve stimulators, sacral nerve stimulators, vagus nerve stimulators, and others.

The bioelectric medicine market is divided into two types: implanted electroceutical devices and noninvasive electroceutical devices.

The Bioelectric Medicine Market has been categorized by application, including arrhythmia, pain management, sensorineural hearing loss, Parkinson's disease, tremor, depression, epilepsy, urine and fecal incontinence, among others.

The market is divided into three segments based on the end user: hospitals, research institutes, and others.

Regional insights

The study divides the market into four regions: North America, Europe, Asia-Pacific, and the rest of the world. North America's bioelectric medicine market held the greatest market share of 38.01% in 2022 and is expected to reach roughly USD 16.00 billion by 2030, growing at a 4.71% CAGR during the forecast period. However, Asia-Pacific is expected to develop at the fastest CAGR of 8.99% over the forecast period.

The future for the North American bioelectric medicine market remains positive, with continued expansion expected. Investments in healthcare infrastructure and increased awareness of modern medical solutions are projected to propel market growth even further. Both established firms and new entrants are ready to seize these possibilities, utilizing technological improvements to address the growing need for better surgical outcomes.

Europe's bioelectric medicine market accounted for the second-largest market share due to technological improvements, rising healthcare costs, and an increase in the prevalence of chronic conditions. Furthermore, the Germany bioelectric medicine market is expected to have the greatest market share, with France's bioelectric medicine market forecast to be the fastest expanding market in Europe.

The Asia-Pacific bioelectric medicine market is predicted to develop the fastest between 2023 and 2032 due to its large patient population, increased prevalence of chronic diseases, and favorable regulatory policies. Furthermore, prominent market companies are constantly expanding into this region, accelerating regional market growth. Furthermore, China's bioelectric medicine market held the greatest market share, while India's bioelectric medicine market is expected to be the fastest expanding market in the Asia-Pacific region.

Major Players

Abbott (US), Boston Scientific Corporation (US), Bortnick (Germany), Aleva Neurotherapeutics (Switzerland), Cochlear Ltd. (Australia), LivaNova PLC (UK), Medtronic (Ireland), Charco Neurotech (UK), ElectroCore, Inc. (US), and Nevro Corp (US) are some of the key companies in the Bioelectric Medicine market.

Product Code: MRFR/HC/9533-CR

1 EXECUTIVE SUMMARY

1.1 OVERVIEW

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
2.5 ASSUMPTIONS & LIMITATIONS

3 RESEARCH METHODOLOGY

3.1 DATA MINING
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 BREAKDOWN OF PRIMARY RESPONDENTS
3.5 FORECASTING TECHNIQUES
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION
- 3.6.1 BOTTOM-UP APPROACH
- 3.6.2 TOP-DOWN APPROACH
3.7 DATA TRIANGULATION
3.8 VALIDATION

4 MARKET DYNAMICS

4.1 OVERVIEW
4.2 DRIVERS
- 4.2.1 INCREASING INCIDENCES OF CHRONIC DISEASES ACROSS THE GLOBE
- 4.2.2 RISING STRATEGIC INITIATIVES BY MARKET PLAYERS
4.3 RESTRAINTS
- 4.3.1 HIGH COST ASSOCIATED WITH BIOELECTRIC MEDICINE DEVICES
4.4 OPPORTUNITIES
- 4.4.1 INCREASING CLINICAL TRIALS FOR BIOELECTRIC MEDICINE
- 4.4.2 RISING INVESTMENT IN BIOELECTRIC MEDICINE BY MARKET PLAYERS

5 MARKET FACTOR ANALYSIS

5.1 PORTER'S FIVE FORCES MODEL
- 5.1.1 THREAT OF NEW ENTRANTS
- 5.1.2 BARGAINING POWER OF SUPPLIERS
- 5.1.3 THREAT OF SUBSTITUTES
- 5.1.4 BARGAINING POWER OF BUYERS
- 5.1.5 INTENSITY OF RIVALRY
5.2 IMPACT OF COVID-19 ON THE GLOBAL BIOELECTRIC MEDICINE MARKET

6 GLOBAL BIOELECTRIC MEDICINE MARKET, BY PRODUCT

6.1 OVERVIEW
- 6.1.1 IMPLANTABLE CARDIOVERTER DEFIBRILLATORS
- 6.1.2 CARDIAC PACEMAKERS
- 6.1.3 COCHLEAR IMPLANTS
- 6.1.4 SPINAL CORD STIMULATORS
- 6.1.5 DEEP BRAIN STIMULATORS
- 6.1.6 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATORS
- 6.1.7 SACRAL NERVE STIMULATORS
- 6.1.8 VAGUS NERVE STIMULATORS
- 6.1.9 OTHERS

7 GLOBAL BIOELECTRIC MEDICINE MARKET, BY TYPE

7.1 OVERVIEW
- 7.1.1 IMPLANTABLE ELECTROCEUTICAL DEVICES
- 7.1.2 NON-INVASIVE ELECTROCEUTICAL DEVICES

8 GLOBAL BIOELECTRIC MEDICINE MARKET, BY APPLICATION

8.1 OVERVIEW
- 8.1.1 ARRHYTHMIA
- 8.1.2 PAIN MANAGEMENT
- 8.1.3 SENSORINEURAL HEARING LOSS
- 8.1.4 PARKINSON'S DISEASE
- 8.1.5 TREMOR
- 8.1.6 DEPRESSION
- 8.1.7 EPILEPSY
- 8.1.8 URINARY AND FECAL INCONTINENCE
- 8.1.9 OTHERS

9 GLOBAL BIOELECTRIC MEDICINE MARKET, BY END USER

9.1 OVERVIEW
- 9.1.1 HOSPITALS
- 9.1.2 RESEARCH INSTITUTES
- 9.1.3 OTHERS

10 GLOBAL BIOELECTRIC MEDICINE MARKET, BY REGION

10.1 OVERVIEW
10.2 NORTH AMERICA
- 10.2.1 US
- 10.2.2 CANADA
10.3 EUROPE
- 10.3.1 GERMANY
- 10.3.2 FRANCE
- 10.3.3 UK
- 10.3.4 ITALY
- 10.3.5 SPAIN
- 10.3.6 REST OF EUROPE
10.4 ASIA-PACIFIC
- 10.4.1 CHINA
- 10.4.2 INDIA
- 10.4.3 JAPAN
- 10.4.4 AUSTRALIA
- 10.4.5 SOUTH KOREA
- 10.4.6 REST OF ASIA-PACIFIC
10.5 REST OF THE WORLD
- 10.5.1 MIDDLE EAST
- 10.5.2 AFRICA
- 10.5.3 LATIN AMERICA
11.4 THE LEADING PLAYERS IN TERMS OF NUMBER OF DEVELOPMENTS IN GLOBAL BIOELECTRIC MEDICINE MARKET
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 11.6.1 PRODUCT LAUNCH
- 11.6.2 PRODUCT APPROVAL
- 11.6.3 ACQUISITION
- 11.6.4 INVESTMENT
- 11.6.5 EXPANSION
11.7 MAJOR PLAYERS FINANCIAL MATRIX
- 11.7.1 SALES (USD BILLION),
- 11.7.2 R&D (USD BILLION),

12 COMPANY PROFILES

12.1 ABBOTT
- 12.1.1 COMPANY OVERVIEW
- 12.1.2 FINANCIAL ANALYSIS
- 12.1.3 PRODUCTS OFFERED
- 12.1.4 KEY DEVELOPMENTS
- 12.1.5 SWOT ANALYSIS
- 12.1.6 KEY STRATEGIES
12.2 BOSTON SCIENTIFIC CORPORATION
- 12.2.1 COMPANY OVERVIEW
- 12.2.2 FINANCIAL OVERVIEW
- 12.2.3 PRODUCTS OFFERED
- 12.2.4 KEY DEVELOPMENTS
- 12.2.5 SWOT ANALYSIS
- 12.2.6 KEY STRATEGIES
12.3 ALEVA NEUROTHERAPEUTICS
- 12.3.1 COMPANY OVERVIEW
- 12.3.2 FINANCIAL OVERVIEW
- 12.3.3 PRODUCT OFFERED
- 12.3.4 KEY DEVELOPMENTS
- 12.3.5 KEY STRATEGIES
12.4 COCHLEAR LTD.
- 12.4.1 COMPANY OVERVIEW
- 12.4.2 FINANCIAL OVERVIEW
- 12.4.3 PRODUCTS OFFERED
- 12.4.4 KEY DEVELOPMENTS
- 12.4.5 SWOT ANALYSIS
- 12.4.6 KEY STRATEGIES
12.5 LIVANOVA PLC
- 12.5.1 COMPANY OVERVIEW
- 12.5.2 FINANCIAL OVERVIEW
- 12.5.3 PRODUCTS OFFERED
- 12.5.4 KEY DEVELOPMENTS
- 12.5.5 KEY STRATEGIES
12.6 MEDTRONIC
- 12.6.1 COMPANY OVERVIEW
- 12.6.2 FINANCIAL OVERVIEW
- 12.6.3 PRODUCTS OFFERED
- 12.6.4 KEY DEVELOPMENTS
- 12.6.5 SWOT ANALYSIS
- 12.6.6 KEY STRATEGIES
12.7 BIOTRONIK
- 12.7.1 COMPANY OVERVIEW
- 12.7.2 FINANCIAL OVERVIEW
- 12.7.3 PRODUCTS OFFERED
- 12.7.4 KEY DEVELOPMENTS
- 12.7.5 KEY STRATEGIES
12.8 CHARCO NEUROTECH
- 12.8.1 COMPANY OVERVIEWS
- 12.8.2 FINANCIAL OVERVIEW
- 12.8.3 PRODUCTS OFFERED
- 12.8.4 KEY DEVELOPMENTS
- 12.8.5 KEY STRATEGIES
12.9 NEVRO CORP
- 12.9.1 COMPANY OVERVIEWS
- 12.9.2 FINANCIAL OVERVIEW
- 12.9.3 PRODUCTS OFFERED
- 12.9.4 KEY DEVELOPMENTS
- 12.9.5 KEY STRATEGIES
12.10 ELECTROCORE, INC
- 12.10.1 COMPANY OVERVIEWS
- 12.10.2 FINANCIAL OVERVIEW
- 12.10.3 PRODUCTS OFFERED
- 12.10.4 KEY DEVELOPMENTS
- 12.10.5 SWOT ANALYSIS
- 12.10.6 KEY STRATEGIES

13 APPENDIX

13.1 REFERENCES
13.2 INTERNATIONAL ASSOCIATION FOR THE STUDY OF PAIN
13.3 AMERICAN PARKINSON DISEASE ASSOCIATION
13.4 PARKINSON'S FOUNDATION
13.5 ANXIETY AND DEPRESSION ASSOCIATION OF AMERICA
13.6 EUROPEAN ALLIANCE AGAINST DEPRESSION
13.7 AMERICAN SOCIETY OF INTERVENTIONAL PAIN PHYSICIANS
13.8 THE AFRICAN SOCIETY FOR REGIONAL ANESTHESIA (AFSRA)
13.9 DEEP BRAIN STIMULATION NURSE ASSOCIATION (DBSNA)
13.10 EUROPEAN SOCIETY OF CARDIOLOGY
13.11 THE COCHLEAR IMPLANT GROUP OF INDIA
13.12 AMERICAN COCHLEAR IMPLANT ALLIANCE
13.13 UNITED SPINAL ASSOCIATION
13.14 AMERICAN SPINAL INJURY ASSOCIATION
13.15 NATIONAL SPINAL CORD INJURY ASSOCIATION
13.16 AMERICAN CLINICAL NEUROPHYSIOLOGY SOCIETY.
13.17 EUROPEAN ACADEMY OF NEUROLOGY (EAN)
13.18 CHILD NEUROLOGY SOCIETY.
13.19 AUSTRALIA EPILEPSY SOCIETY
13.20 RELATED REPORTS