Global Bioelectric Medicine Market: Focus on Product, 11 Countries-™ Data, and Competitive Landscape - Analysis and Forecast, 2019-2025

Global Bioelectric Medicine Market Forecast, 2019-2025

The global bioelectric medicine industry analysis by BIS Research 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.

Expert Quote

“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.

Market Segmentation

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.

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