The electroceuticals market is expected to grow at a CAGR of 7.9% during the forecast period to reach USD 25.20 Billion by 2021 from an estimated USD 17.20 Billion in 2016. Electroceuticals encompass medical devices that use electrical impulses to modulate the body's neural circuits as an alternative to drug-based intervention. Electroceuticals are also known as bioelectronic medicine, which combine molecular medicine, bioengineering, and neuroscience to discover and develop nerve stimulating and sensing technologies to regulate biological processes and treat diseases. The market growth can be attributed to rising geriatric population, regulatory approval for new and advanced electroceuticals, growing investments and funds for the development of novel therapies and electroceuticals, rising prevalence of neurological disorders, and growing prevalence of hearing loss.

Objectives of the Study

To define and measure the global electroceuticals market with respect to product, type of device, application, end user and region

To identify key micromarkets and their drivers within the global electroceuticals market, which are expected to show growth opportunities in the coming years

To analyze opportunities in the bioelectric medicine market for stakeholders and provide details of the competitive landscape for market leaders

To analyze the market structure and profile the key players of the global electroceuticals medicine market and comprehensively analyze their core competencies

To track and analyze competitive developments such as product launches, approvals, agreements/collaborations/joint ventures/partnerships, marketing and promotion activities, acquisitions and mergers, expansions, new program launches, and product enhancements

Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global electroceuticals market and estimate the size of various other dependent submarkets. Individual bottom-up approach was followed for Implantable Cardioverter Defibrillators and Cardiac Pacemakers Market, Cochlear Implants Market, Retinal Implants Market, and Neuromodulation Devices Market to arrive at the Global Electroceuticals/ Bioelectric Medicine Market Size.

Various secondary sources such as directories, industry journals, databases such as Hoover�s, Bloomberg Business, Factiva, and Avention, and annual reports of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below

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Major players in the electroceuticals market include Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), Cochlear Limited (Australia), Sonova Holding AG (Switzerland), LivaNova PLC (U.K.), Biotronik (Germany), Nevro Corporation (U.S.), Second Sight Medical Products, Inc. (U.S.), and ElectroCore LLC (U.S.). Others are BioElectronics Corporation (U.S.), MED-EL (Austria), Cefaly Technology (Belgium), Stimwave LLC (U.S.), Vomaris Innovations, Inc. (U.S.), EnteroMedics Inc. (U.S.), NeuroSigma, Inc. (U.S.), and Oticon Medical (France).

Target Audience:

Electroceuticals/Bioelectric Medicine Device Manufacturing Companies

Suppliers and Distributors of Electroceutical/Bioelectric Medicine Devices

Healthcare Service Providers

Teaching Hospitals and Academic Medical Centers (AMCs)

Health Insurance Players

Research and Consulting Firm

Medical Research Institutes

Audiology Centers

Healthcare Institutions/Providers (Hospitals, Medical Groups, Physician Practices, Diagnostic Centers, and Outpatient Clinics)

Venture Capitalists

Community Centers

Scope of the Report:

This research report categorizes the bioelectric medicine market into the following segments and subsegments:

Electroceuticals Market, by Product

Implantable Cardioverter Defibrillators

Cardiac Pacemakers

Spinal Cord Stimulators

Cochlear Implants

Deep Brain Stimulators

Transcutaneous Electrical Nerve Stimulators

Vagus Nerve Stimulators

Sacral Nerve Stimulators

Retinal Implants

Other Electrical Stimulators

Electroceuticals Market, by Type of Device

Implantable Electroceutical Devices

Non-Invasive Electroceutical Devices

Electroceuticals Market, by Application

Cardiac Pacemakers And Implantable Cardioverter Defibrillators Applications Arrhythmia

Spinal Cord Stimulators Applications Chronic Pain Failed Back Surgery Ischemia

Cochlear Implants Applications Sensorineural hearing loss

Deep Brain Stimulators Applications Parkinson's Disease Tremor Depression Other Deep Brain Stimulation Applications

Transcutaneous Electrical Nerve Stimulators Applications Treatment Resistant Depression Other Transcutaneous Electrical Nerve Stimulator Applications

Vagus Nerve Stimulators Applications Epilepsy Other Vagus Nerve Stimulation Applications

Sacral Nerve Stimulators Applications Urinary Incontinence Fecal Incontinence

Retinal Implants Applications Retinitis Pigmentosa

Other Electrical Stimulators Applications Gastroparesis Obesity Depression Migraine Spinal Cord Injury



Electroceuticals Market, by End User

Hospitals

Research Institutes

Individual Users

Electroceuticals Market, by Region

North America U.S. Canada

Europe

Asia-Pacific

Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The following customization option is available for the report:

Portfolio Assessment

Product Matrix, which gives a detailed comparison of the product portfolios of the top three companies in the market

Detailed analysis and profiling of additional market players (up to 3)

The global electroceuticals market is expected to reach USD 25.20 Billion by 2021 from USD 17.20 Billion in 2016, growing at a CAGR of 7.9% from 2016 to 2021.

The global bioelectric medicine market is segmented on the basis of product, type of device, application, end user, and region. By product, the market is categorized into implantable cardioverter defibrillators, cardiac pacemakers, spinal cord stimulators, cochlear implants, deep brain stimulators, transcutaneous electrical nerve stimulators, vagus nerve stimulators, sacral nerve stimulators, retinal implants, and other electrical stimulators (gastric electrical stimulators, transcranial magnetic stimulators, and respiratory electrical stimulators). The implantable cardioverter defibrillators segment is expected to account for the largest share of the market in 2016. The largest share of this segment is mainly attributed to increase in sudden cardiac arrest (SCA) leading to cardiovascular death, technological advancements in ICDs, and increase in arrhythmia. However, the retinal implants segment is expected to grow at the highest CAGR during the forecast period (2016-2021).

The electroceuticals market, based on type of device, is segmented into implantable electroceuticals devices, and non-invasive electroceuticals devices. The implantable electroceuticals devices segment is expected to account for the largest share of the market in 2016. This is mainly attributed to the rising research in this industry and collaborations and partnerships to development electroceuticals devices, the implantable electroceuticals devices being used since a long time, these devices providing continuous treatment within the body, and providing an environment for the easy treatment of patients. However, the non-invasive electroceuticals devices segment is expected to grow at the highest CAGR during the forecast period (2016-2021).

On basis of application, the bioelectric medicine market is segmented into product wise such as cardiac pacemakers and implantable cardioverter defibrillators (used for arrhythmia), cochlear implants (used for sensorineural hearing loss), retinal implants (used for retinal pigmentosa), spinal cord stimulators (used for chronic pain, failed back surgery, and ischemia), deep brain stimulators (used for Parkinson's disease, tremors, depression, and others), sacral nerve stimulators (used for urine incontinence and fecal incontinence), vagus nerve stimulators (used for epilepsy and other conditions), transcutaneous electrical nerve stimulators (used for treatment-resistant depression and others), and other electric stimulators (used for gastro paresis, obesity, depression, migraine headaches, and spinal cord injuries).

On the basis of end users, the electroceuticals market is segmented into hospitals, research institutes, and individual users. The hospitals segment is expected to account for the largest share of the market in 2016. The large share of this segment can be attributed to the increasing burden of diseases such as cardiac arrhythmias, Parkinson�s, Alzheimer�s, retinitis pigmentosa, epilepsy, and depression; and increasing awareness about electroceuticals. However, the individual users segment is expected to grow at the highest CAGR during the forecast period (2016-2021).

On the basis of region, the electroceuticals market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016. The large share of the North American region can be attributed to the rising prevalence of arrhythmia, growing prevalence of chronic diseases, high prevalence of hearing loss, expected approvals for retinal implants in the U.S., conferences & annual meetings held in the U.S., increasing regulatory approvals in the U.S., increasing burden of cancer and diabetes, and increase in hearing loss owing to rising aging population in Canada. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period (2016-2021).

Source: Organisation for Economic Co-operation and Development (OECD) Publications, The National Center for Biotechnology Information (NCIB), National Institute on Deafness and Other Communication Disorders (NIDCD), Alzheimer�s Association, International Diabetes Federation (IDF), National Institute on Aging (NIA), Heart Rhythm Society, World Heart Federation, Hearing Industries Association (HIA), National Institutes of Health (NIH), Experts Interviews, MnM Analysis

The major players in Electroceuticals Market include Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), Cochlear Limited (Australia), Sonova Holding AG (Switzerland), LivaNova PLC (U.K.), Biotronik (Germany), Nevro Corporation (U.S.), Second Sight Medical Products, Inc. (U.S.), and ElectroCore LLC (U.S.). Others are BioElectronics Corporation (U.S.), MED-EL (Austria), Cefaly Technology (Belgium), Stimwave LLC (U.S.), Vomaris Innovations, Inc. (U.S.), EnteroMedics Inc. (U.S.), NeuroSigma, Inc. (U.S.), and Oticon Medical (France).

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