The Global Electroceutical Market is projected to reach USD 21.5 billion by 2028 from USD 16.8 billion in 2021, at a CAGR of 5% during the forecast period 2022-2028.
Electroceuticals is a neologism for an old therapeutic modality that broadly encompasses all bioelectronic medicines. This includes medical-related devices that utilize electric shocks to effect change to modify body functions as an alternative to drug-based treatments. These devices recite and transduce electrical signals that travel along nerves in the body, including irregular or other impulses, which are primarily associated with a wide range of ailments. Electroceutical consists of cochlear implants, retinal implants or nerve implants such as spinal cord stimulators for pain relief, pacemakers and implanted defibrillators. Recently, this field has been expanded with deep brain stimulation and electrical stimulation of the vagus nerve.
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Market Segments
By Product
- Cardiac Pacemakers
- Implantable Cardioverter Defibrillators
- Spinal Cord Stimulators
- Cochlear Implants
- Deep Brain Stimulators
- Sacral Nerve Stimulators & Gastric Electrical Stimulators
- Transcutaneous Electrical Nerve Stimulators
- Vagus Nerve Stimulators
- Other Electrical Stimulators
By Type
- Implantable Electroceutical Devices
- Noninvasive Electroceutical Devices
Key Players
Some of the major players in the electroceuticals/bioelectric medicine market include Medtronic; St. Jude Medical; Boston Scientific Corporation; Cochlear Ltd.; Sonova; LivaNova PLC; Biotronik; Nevro Corp.; SECOND SIGHT; and electroCore LLC.
Scope of the Report
The research study analyzes the global Electroceutical industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Electroceutical Market Report
1. What was the Electroceutical Market size in 2020 and 2021; what are the estimated growth trends and market forecast (2022-2028).
2. What will be the CAGR of Electroceutical Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Electroceutical Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Electroceutical market.
- The market share of the global Electroceutical market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Electroceutical market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Electroceutical market.
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