Kenneth Research recently added a report on ‘Electroceuticals/Bioelectric Medicine Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Electroceuticals/Bioelectric Medicine Market, along with the compound growth rate (CAGR) of the market for a projected period between 2021 2025. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
The global Electroceuticals/Bioelectric Medicine Market was valued at USD 17.04 billion in 2016 and is projected to reach USD 33.14 billion by 2025, growing at a CAGR of 7.67% from 2017 to 2025.
The market is mainly focused on providing services to those who have suffered loss of important body organs and the sensing ability of it. The treatment involves neuro stimulation of the particular organ. The market is driven mainly by increasing number of patients who have suffered hearing loss.
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1. Market Drivers
1.1 Increasing Geriatric Population
1.2 Growingfavorable conditions for launching electroceutical products
1.3 Growing funds in the sector
1.4 Rising number of patients requiring hearing aid and healthcare services
2. Market Restraints
2.1 Lack of skilled Technicians
2.2 High cost associated
1. Global Electroceuticals/Bioelectric Medicine Market, by Type of Devices:
1.1 Implantable Electroceutical Devices
1.2 Non-Invasive Electroceutical Devices
2. Global Electroceuticals/Bioelectric Medicine Market, by Product:
2.1 Implantable Cardioverter Defibrillators
2.2 Cardiac Pacemakers
2.3 Spinal Cord Stimulators
2.4 Cochlear Implants
2.5 Deep Brain Stimulators
2.6 Transcutaneous Electrical Nerve Stimulators
2.7 Vagus Nerve Stimulators
2.8 Sacral Nerve Stimulators
2.9 Retinal Implants
2.10 Other Electrical Stimulators
3. Global Electroceuticals/Bioelectric Medicine Market, by End User:
3.2 Research Institutes
3.3 Individual Users
4. Global Electroceuticals/Bioelectric Medicine Market, by Application:
4.1 Cardiac Pacemakers and Implantable Cardioverter Defibrillators Market, By Application
4.2 Spinal Cord Stimulators (SCS) Market, By Application
4.2.1 Chronic Pain
4.2.2 Failed Back Syndrome (FBSS)
4.3 Cochlear Implants Market, By Application
4.3.1 Sensorineural Hearing Loss
4.4 Deep Brain Stimulators (DBS) Market, By Application
4.4.1 ParkinsonÃ¢â‚¬â„¢s Disease
4.4.4 Other Deep Brain Stimulation Applications
4.5 Transcutaneous Electrical Nerve Stimulators (RENS) Market, By Application
4.5.1 Treatment-Resistant Depression
4.5.2 Other Transcutaneous Electrical Stimulation Applications
4.6 Vagus Nerve Stimulators Market (VNS), By Application
4.6.2 Other Vagus Nerve Stimulation Applications
4.7 Sacral Nerve Stimulators (SNS) Market, By Application
4.7.1 Urinary Incontinence
4.7.2 Fecal Incontinence
4.8 Retinal Implants Market, By Application
4.8.1 Retinitis Pigmentosa
4.9 Other Electrical Stimulators Market, By Application
4.9.5 Spinal Cord Injury
5. Global Electroceuticals/Bioelectric Medicine Market, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. Medtronic PLC
2. St. Jude Medical, Inc.
3. Boston Scientific Corporation
4. Cochlear Limited
5. Sonova Holding AG
6. Livanova PLC
8. Nevro Corp.
9. Second Sight Medical Products, Inc.
10. Electrocore LLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Electroceuticals/Bioelectric Medicine Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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