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Report Scope:
This report highlights the current and future market potential for electroceuticals. It provides a detailed analysis of the competitive environment, regulatory scenario, and the drivers, restraints, opportunities, and trends in the market. The report also offers market projections through 2027.
This report covers the overall electroceuticals market, including cardiac pacemakers, implantable cardiac defibrillators, hearing aids and implants, and neurostimulation devices. The report also analyzes various end users of electroceuticals.
For this report, the market has been segmented into North America, Europe, Asia-Pacific and the Rest of the World (RoW), which includes Latin America, the Middle East and Africa). Major countries, including the U.S., Canada, Germany, the U.K., France, Spain, Italy, Japan, China and India) are analyzed. Market data was provided for 2020, which served as the base year, and forecasts are estimated through 2027. Estimated values are based on product manufacturers' total revenues. Projected and forecast revenue values are in constant U.S. dollars that have not been adjusted for inflation.
Report Includes:
- 19 data tables and 24 additional tables
- An overview of global markets and technologies for electroceuticals
- Analyses of global market trends, with data from 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Discussion on how electroceuticals are used as an alternative to drug-based remedies and analyses of endogenous and exogenous factors that are impacting the global market growth
- Coverage of several diseases such as epilepsy, cardiovascular diseases, rheumatoid arthritis and diabetes and their treatment using electroceuticals
- Information on RecoveryRx medical device, which is used for the treatment of postoperative pain of opioid/NSAID therapy
- Coverage of regulatory landscape, product recalls, pipeline products, and discussion on future perspective, strategies, and developments of the industry
- Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market trends, market size, and forecast
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies and a relevant patent analysis
- Company profiles of major players Abbott Laboratories, Boston Scientific, GlaxoSmithKline plc, Medtronic plc, Edwards Lifesciences Corp.
Summary:
The global electroceuticals market was valued at $REDACTED in 2020 and is expected to be valued at $REDACTED by the end of 2027, at a CAGR of REDACTED%. The market's growth is mainly attributed to the increasing incidence of neurological disorders and cardiac diseases.
Electroceuticals are medical devices that are used to restore health in patients. Patients can hold these devices against the skin, or they can be implanted. These devices, also known as bioelectric medicine, represent an alternative to drug-based remedies. They are usually not the first line of treatment, and tend to be used only when health cannot be restored with drugs. Most electroceuticals do not cure conditions, but can reduce pain and avoid affected parts of the body. Electroceuticals function through neurostimulation and modulation of the nervous system through electrical impulses. Electroceutical devices are used to treat several ailments and disorders related to neurology and cardiology through invasive and non-invasive methods.
The human nervous system works as the commander of the human body, and, as such, plays a major role in treating disorders of the body. Neurostimulation technology involves the alteration or modulation of nerves. Neurostimulation devices directly deliver electrical current or magnetic impulses to nerves to modify their activities.
Over the last 30 years, neurostimulation has emerged as one of the most dynamic and exciting therapy fields, and has been investigated for the treatment of a range of clinical conditions, including chronic pain, movement disorders (Parkinson's disease, tremor, dystonia and others), epilepsy (which affects 50 million people worldwide), functional restoration, and psychiatric, cardiovascular, gastrointestinal and genitourinary disorders. The potential of neurostimulation technology is being explored in several other clinical conditions, including obesity, tinnitus and central nervous system disorders.