Tuesday, 5 December 2017

Electroceuticals/Bioelectric Medicine Market by Product, Type of Device & Application — 2021

“The global electroceuticals/bioelectric medicine 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”.
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).

Based on type of device :

The market 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 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/bioelectric medicine 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.
           Electroceuticals/Bioelectric Medicine Market
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).

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