Key Questions Answered in this Report:
- What are the different types of bioelectric medicine available in the market and what are the benefits offered by them?
- What are the major drivers, challenges, and opportunities in the global bioelectric medicine market?
- What are the key development strategies implemented by the key players to stand out in this market?
- What are the leading companies dominating the global bioelectric medicine market?
- How many types of bioelectric medicine are available in the market, and which are the companies offering them?
- Based on product type, which bioelectric medicine is anticipated to witness a massive rise in demand in the forecast period?
- What are the perceptions of the investors about the global bioelectric medicine market?
- What are the regulations pertaining to the global bioelectric medicine market? What are the initiatives implemented by different government bodies regulating the development and commercialization of bioelectric medicine?
- What was the market value in 2018 of the leading segments and sub-segments of the global bioelectric medicine market?
- How is each segment of the global bioelectric medicine market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2025?
- How is the industry anticipated to evolve during the forecast period 2019-2025?
- Which region is expected to contribute to the highest sales of the global bioelectric medicine market during the forecast period?
- What are the leading trends and consumer preferences witnessed in global bioelectric medicine markets?
Global Bioelectric Medicine Market Forecast, 2019-2025
The global bioelectric medicine industry projects the market to grow at a significant CAGR of 6.41% during the forecast period, 2019-2025. The bioelectric medicine market generated $18,636.4 million revenue in 2018.
The bioelectric medicine growth has been primarily attributed to the major drivers such as growing geriatric population leads to surge in exigency of bioelectric medicine, increasing burden of diseases inciting the use of bioelectric medicine, growing investments and funds for the development of novel therapeutics and electroceuticals, limited success rate of drugs targeting specific disease, increasing amount of adverse drug reaction, and upsurge in awareness level. The market is expected to grow at a significant growth rate due to the opportunities that lie within its domain, which include growth in emerging countries and technological advancement in bioelectric medicine. However, there are significant challenges which are restraining the market growth. These challenges include product recall, exorbitant cost of electroceuticals, increased regulatory scrutiny, and complications and side effects associated with the bioelectric medicine devices.
“The pacemaker represents the biggest opportunity in the bioelectric medicine market, as the demand of pacemaker and awareness of about the pacemakers are higher compare to other bioelectric medicine products. The upsurge prevalence of cardiovascular diseases and growing geriatric population has made it the largest sources of bioelectric medicine for the treatment of cardiovascular disorders.”
Scope of the Market Intelligence on Bioelectric Medicine Market
The bioelectric medicine market research provides a holistic view of the market in terms of various factors influencing it, regulatory reforms, and technological advancements. The scope of this report is centered upon detailed study of the products, associated with the market. In addition, the study also includes exhaustive information on the market needs, details on the new products, competitive landscape, market share of leading players, growth potential of each underlying sub-segment, and company, as well as other vital information with respect to the global bioelectric medicine market.
The bioelectric medicine market segmentation (on the basis of product type) is further segmented into implantable and non-implantable.
On the basis of implantable bioelectric medicine, the bioelectric medicine market is segmented into pacemaker, ICDs, spinal cord stimulation devices, cochlear implant, deep brain stimulation device, vagus nerve stimulation device, and others.
Key Companies in the Bioelectric Medicine Industry
The key manufacturers that have been contributing significantly to the bioelectric medicine market include Abbott Laboratories, Boston Scientific Corporation, Cochlear Limited, electroCore, Inc., Inspire Medical Systems, Inc., LivaNova PLC, Medtronic Plc, Nevro Corp., Nuvectra Corporation, NeuroMetrix, Inc., OMRON CORPORATION, PIXIUM VISION, Second Sight Medical Products, Inc., BIOTRONIK SE & Co. KG, MED-EL, SetPoint Medical, and Stimwave LLC, among others.