Summary

Bioelectric Medicine Market Research Report Information by Type (Implantable Electroceutical Devices and Non-invasive Electroceutical Devices), by Product (Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Cochlear Implants, Spinal Cord Stimulators, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, And Others), By Application (Arrhythmia, Pain Management, Sensorineural Hearing Loss, Epilepsy, And Others), By End User (Hospitals & Clinics, ASCs, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

Market Overview
It is anticipated that the Bioelectric Medicine Market will grow at a compound annual growth rate (CAGR) of 6.53% over the forecast period. The growth of the Bioelectric Medicine Market is primarily driven by the increasing prevalence of chronic diseases worldwide and the increasing strategic initiatives of market participants. In 2019, 18 million individuals were diagnosed with rheumatoid arthritis, with 70% of those affected being female and 55% being over the age of 55, according to the World Health Organization. Additionally, Crohn's & Colitis UK predicted that in 2022, one in every 123 individuals in the United Kingdom will have experienced either Crohn's disease or ulcerative colitis.. Nevertheless, the global market's expansion is anticipated to be constrained by the exorbitant cost of bioelectric medical devices. However, the market is expected to generate lucrative opportunities as a result of the increasing investment in bioelectric medicine and the expansion of clinical trials for bioelectric medicine by market participants.
The expansion of bioelectric medicine is substantially influenced by the escalating prevalence of chronic diseases worldwide. Chronic diseases, including neurological disorders, inflammatory diseases, metabolic disorders, and chronic pain conditions, significantly burden healthcare systems and negatively affect the quality of life of patients. Some patients may experience adverse effects or experience limited efficacy from conventional treatment methods, such as pharmaceuticals and surgeries. The demand for bioelectric medicine products is on the rise due to the prospective applications of bioelectric medicine in these conditions and the growing prevalence of diseases. For instance, deep brain stimulation (DBS) has demonstrated clinical efficacy in the management of Parkinson's disease symptoms by modulating abnormal neuronal activity. In the same vein, neuromodulation devices such as vagus nerve stimulation (VNS) have been shown to be beneficial in reducing the frequency of seizures in patients with epilepsy. Additionally, the World Health Organization reported in February 2024 that approximately 50 million individuals worldwide were struggling with epilepsy, with nearly 80% of those affected residing in low- and middle-income countries.

Market Segment Insights
Implantable cardioverter defibrillators, cardiac pacemakers, cochlear implants, spinal cord stimulators, deep brain stimulators, transcutaneous electrical nerve stimulators, sacral nerve stimulators, vagus nerve stimulators, and other devices comprise the global bioelectric medicine segmentation, which is based on product.
Implantable electroceutical devices and non-invasive electroceutical devices comprise the bioelectric medicine market segmentation.
The Bioelectric Medicine Market has been segmented by application into the following categories: arrhythmia, pain management, sensorineural hearing loss, Parkinson's disease, tremor, melancholy, epilepsy, urinary, and fecal incontinence, among others.
The market has been segmented into hospitals, research institutes, and other entities based on the end consumer.

Regional Perspectives

The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World by region. The North American bioelectric medicine market held the largest market share of 38.01% in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.71% during the forecast period, reaching an estimated USD 16.00 billion by 2032. Nevertheless, the Asia-Pacific region is expected to experience the most rapid growth, with a compound annual growth rate (CAGR) of 8.99% during the forecast period.

The bioelectric medicine market in North America is expected to experience sustained growth, which is a promising development. It is anticipated that the market will continue to expand due to investments in healthcare infrastructure and an increasing awareness of advanced medical solutions. Both established companies and emerging entrants are prepared to capitalize on these opportunities by utilizing technological advancements to satisfy the increasing demand for enhanced surgical outcomes.
The bioelectric medicine market in Europe accounted for the second-largest market share because of the increasing prevalence of chronic diseases, increasing healthcare expenditure, and technological advancements. In addition, the bioelectric medicine market in Germany is expected to hold the largest market share, while the bioelectric medicine market in France is expected to experience the quickest growth in the European region.

Due to the high patient population, the increasing prevalence of chronic diseases, and favorable regulatory policies, the Asia-Pacific bioelectric medicine market is anticipated to experience the most rapid growth from 2023 to 20302. Additionally, the regional market is experiencing growth due to the active expansion of key market participants into this region. Additionally, the bioelectric medicine market in China represented the greatest market share, while the bioelectric medicine market in India is expected to experience the fastest growth in the Asia-Pacific region.

Major Players
Abbott (US), Boston Scientific Corporation (US), Bortnick (Germany), Aleva Neurotherapeutics (Switzerland), Cochlear Ltd. (Australia), LivaNova PLC (UK), Medtronic (Ireland), Charco Neurotech (UK), ElectroCore, Inc. (US), and Nevro Corp (US) are the key companies in the Bioelectric Medicine market.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 OVERVIEW
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
2.5 ASSUMPTIONS & LIMITATIONS
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 SECONDARY RESEARCH
3.3 PRIMARY RESEARCH
3.4 BREAKDOWN OF PRIMARY RESPONDENTS
3.5 FORECASTING TECHNIQUES
3.6 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION
3.6.1 BOTTOM-UP APPROACH
3.6.2 TOP-DOWN APPROACH
3.7 DATA TRIANGULATION
3.8 VALIDATION
4 MARKET DYNAMICS
4.1 OVERVIEW
4.2 DRIVERS
4.2.1 INCREASING INCIDENCES OF CHRONIC DISEASES ACROSS THE GLOBE
4.2.2 RISING STRATEGIC INITIATIVES BY MARKET PLAYERS
4.3 RESTRAINTS
4.3.1 HIGH COST ASSOCIATED WITH BIOELECTRIC MEDICINE DEVICES
4.4 OPPORTUNITIES
4.4.1 INCREASING CLINICAL TRIALS FOR BIOELECTRIC MEDICINE
4.4.2 RISING INVESTMENT IN BIOELECTRIC MEDICINE BY MARKET PLAYERS
5 MARKET FACTOR ANALYSIS
5.1 PORTER'S FIVE FORCES MODEL
5.1.1 THREAT OF NEW ENTRANTS
5.1.2 BARGAINING POWER OF SUPPLIERS
5.1.3 THREAT OF SUBSTITUTES
5.1.4 BARGAINING POWER OF BUYERS
5.1.5 INTENSITY OF RIVALRY
5.2 IMPACT OF COVID-19 ON THE GLOBAL BIOELECTRIC MEDICINE MARKET
6 GLOBAL BIOELECTRIC MEDICINE MARKET, BY PRODUCT
6.1 OVERVIEW
6.1.1 IMPLANTABLE CARDIOVERTER DEFIBRILLATORS
6.1.2 CARDIAC PACEMAKERS
6.1.3 COCHLEAR IMPLANTS
6.1.4 SPINAL CORD STIMULATORS
6.1.5 DEEP BRAIN STIMULATORS
6.1.6 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATORS
6.1.7 SACRAL NERVE STIMULATORS
6.1.8 VAGUS NERVE STIMULATORS
6.1.9 OTHERS
7 GLOBAL BIOELECTRIC MEDICINE MARKET, BY TYPE
7.1 OVERVIEW
7.1.1 IMPLANTABLE ELECTROCEUTICAL DEVICES
7.1.2 NON-INVASIVE ELECTROCEUTICAL DEVICES
8 GLOBAL BIOELECTRIC MEDICINE MARKET, BY APPLICATION
8.1 OVERVIEW
8.1.1 ARRHYTHMIA
8.1.2 PAIN MANAGEMENT
8.1.3 SENSORINEURAL HEARING LOSS
8.1.4 PARKINSON’S DISEASE
8.1.5 TREMOR
8.1.6 DEPRESSION
8.1.7 EPILEPSY
8.1.8 URINARY AND FECAL INCONTINENCE
8.1.9 OTHERS
9 GLOBAL BIOELECTRIC MEDICINE MARKET, BY END USER
9.1 OVERVIEW
9.1.1 HOSPITALS
9.1.2 RESEARCH INSTITUTES
9.1.3 OTHERS
10 GLOBAL BIOELECTRIC MEDICINE MARKET, BY REGION
10.1 OVERVIEW
10.2 NORTH AMERICA
10.2.1 US
10.2.2 CANADA
10.3 EUROPE
10.3.1 GERMANY
10.3.2 FRANCE
10.3.3 UK
10.3.4 ITALY
10.3.5 SPAIN
10.3.6 REST OF EUROPE
10.4 ASIA-PACIFIC
10.4.1 CHINA
10.4.2 INDIA
10.4.3 JAPAN
10.4.4 AUSTRALIA
10.4.5 SOUTH KOREA
10.4.6 REST OF ASIA-PACIFIC
10.5 REST OF THE WORLD
10.5.1 MIDDLE EAST
10.5.2 AFRICA
10.5.3 LATIN AMERICA
11.4 THE LEADING PLAYERS IN TERMS OF NUMBER OF DEVELOPMENTS IN GLOBAL BIOELECTRIC MEDICINE MARKET
11.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
11.6.1 PRODUCT LAUNCH
11.6.2 PRODUCT APPROVAL
11.6.3 ACQUISITION
11.6.4 INVESTMENT
11.6.5 EXPANSION
11.7 MAJOR PLAYERS FINANCIAL MATRIX
11.7.1 SALES (USD BILLION), 2022
11.7.2 R&D (USD BILLION), 2022
12 COMPANY PROFILES
12.1 ABBOTT
12.1.1 COMPANY OVERVIEW
12.1.2 FINANCIAL ANALYSIS
12.1.3 PRODUCTS OFFERED
12.1.4 KEY DEVELOPMENTS
12.1.5 SWOT ANALYSIS
12.1.6 KEY STRATEGIES
12.2 BOSTON SCIENTIFIC CORPORATION
12.2.1 COMPANY OVERVIEW
12.2.2 FINANCIAL OVERVIEW
12.2.3 PRODUCTS OFFERED
12.2.4 KEY DEVELOPMENTS
12.2.5 SWOT ANALYSIS
12.2.6 KEY STRATEGIES
12.3 ALEVA NEUROTHERAPEUTICS
12.3.1 COMPANY OVERVIEW
12.3.2 FINANCIAL OVERVIEW
12.3.3 PRODUCT OFFERED
12.3.4 KEY DEVELOPMENTS
12.3.5 KEY STRATEGIES
12.4 COCHLEAR LTD.
12.4.1 COMPANY OVERVIEW
12.4.2 FINANCIAL OVERVIEW
12.4.3 PRODUCTS OFFERED
12.4.4 KEY DEVELOPMENTS
12.4.5 SWOT ANALYSIS
12.4.6 KEY STRATEGIES
12.5 LIVANOVA PLC
12.5.1 COMPANY OVERVIEW
12.5.2 FINANCIAL OVERVIEW
12.5.3 PRODUCTS OFFERED
12.5.4 KEY DEVELOPMENTS
12.5.5 KEY STRATEGIES
12.6 MEDTRONIC
12.6.1 COMPANY OVERVIEW
12.6.2 FINANCIAL OVERVIEW
12.6.3 PRODUCTS OFFERED
12.6.4 KEY DEVELOPMENTS
12.6.5 SWOT ANALYSIS
12.6.6 KEY STRATEGIES
12.7 BIOTRONIK
12.7.1 COMPANY OVERVIEW
12.7.2 FINANCIAL OVERVIEW
12.7.3 PRODUCTS OFFERED
12.7.4 KEY DEVELOPMENTS
12.7.5 KEY STRATEGIES
12.8 CHARCO NEUROTECH
12.8.1 COMPANY OVERVIEWS
12.8.2 FINANCIAL OVERVIEW
12.8.3 PRODUCTS OFFERED
12.8.4 KEY DEVELOPMENTS
12.8.5 KEY STRATEGIES
12.9 NEVRO CORP
12.9.1 COMPANY OVERVIEWS
12.9.2 FINANCIAL OVERVIEW
12.9.3 PRODUCTS OFFERED
12.9.4 KEY DEVELOPMENTS
12.9.5 KEY STRATEGIES
12.10 ELECTROCORE, INC
12.10.1 COMPANY OVERVIEWS
12.10.2 FINANCIAL OVERVIEW
12.10.3 PRODUCTS OFFERED
12.10.4 KEY DEVELOPMENTS
12.10.5 SWOT ANALYSIS
12.10.6 KEY STRATEGIES
13 APPENDIX
13.1 REFERENCES
13.2 INTERNATIONAL ASSOCIATION FOR THE STUDY OF PAIN
13.3 AMERICAN PARKINSON DISEASE ASSOCIATION
13.4 PARKINSON'S FOUNDATION
13.5 ANXIETY AND DEPRESSION ASSOCIATION OF AMERICA
13.6 EUROPEAN ALLIANCE AGAINST DEPRESSION
13.7 AMERICAN SOCIETY OF INTERVENTIONAL PAIN PHYSICIANS
13.8 THE AFRICAN SOCIETY FOR REGIONAL ANESTHESIA (AFSRA)
13.9 DEEP BRAIN STIMULATION NURSE ASSOCIATION (DBSNA)
13.10 EUROPEAN SOCIETY OF CARDIOLOGY
13.11 THE COCHLEAR IMPLANT GROUP OF INDIA
13.12 AMERICAN COCHLEAR IMPLANT ALLIANCE
13.13 UNITED SPINAL ASSOCIATION
13.14 AMERICAN SPINAL INJURY ASSOCIATION
13.15 NATIONAL SPINAL CORD INJURY ASSOCIATION
13.16 AMERICAN CLINICAL NEUROPHYSIOLOGY SOCIETY.
13.17 EUROPEAN ACADEMY OF NEUROLOGY (EAN)
13.18 CHILD NEUROLOGY SOCIETY.
13.19 AUSTRALIA EPILEPSY SOCIETY
13.20 RELATED REPORTS