Vancouver, BC -- (SBWIRE) -- 12/28/2020 -- The global bioelectric medicine market, which accounted for USD 17.42 billion in 2019, is now foreseen to garner up to USD 31.06 billion over the forecast duration. Bioelectric medicine, which lies at the forefront of medical science revolution, is transforming the pharmaceuticals industry in unforeseen ways. Bioelectric therapies are based on electrical pulses that generate nerve stimulation to regulate various biological processes and treat a wide range of diseases like cancer and rheumatoid arthritis.

Major competitors in the market majorly focusing on investments in R&D in order to enhance technological advancements across the industry. Furthermore, the growing levels of awareness regarding healthcare is leading to the popularity of electroceuticals in developing countries like Argentina, China, South Africa, and India are expected to propel the sector growth..

Key participants include Medtronic; Boston Scientific Corporation; St. Jude Medical; Cochlear Ltd.; LivaNova PLC; Sonova; BIOTRONIK; SECOND SIGHT; Nevro Corp among others.

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Bioelectric Medicine Market Drivers:

The rising adoption of bioelectric medicine/electroceuticals across pharmaceutical companies, research laboratories, and biotechnology institutions; the increasing rate of cardiovascular and neurological disorders like Alzheimer's, epilepsy, and dystonia; increasing regulatory approvals for breakthrough electroceuticals; growing geriatric population; augmenting healthcare R&D investments; the rapidly evolving global healthcare system; and the introduction of advanced medical devices are the indispensable parameters contributing to the market's fast-paced growth. Cardioverter defibrillators, brain stimulators, cochlear implants, and vagus nerve stimulators are the most commonly used bioelectric medical devices. The burgeoning application of these devices in the treatment of arrhythmia, cardiac arrests, and numerous chronic disorders creates an enormous developmental scope for the market.

Product Type Outlook (Revenue, USD Billion; 2017-2027)
Cardioverter defibrillators
Cardiac pacemakers
Cohlear implants
Spinal cord stimulators
Brain stimulators
Sacral and vagus nerve stimulators

Application Outlook (Revenue, USD Billion; 2017-2027)
Arrhythmia
Pain Management
Sensorineural hearing loss
Parkinson's disease
Tremor
Depression

End User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals
Ambulatory Surgery Centers
Diagnostic Centers

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Geographical Outlook

North America is the leading region in the global bioelectric medicine market in terms of revenue, and the region is expected to maintain its dominance over the upcoming years. The existence of a highly developed healthcare infrastructure, coupled with the presence of various leading medical device manufacturers, including Biotronik, Medtronic, and Boston Scientific Corporation, is expected to provide a significant boost to the regional market growth in the coming years.

Regional Segmentation:

North America (The US, Canada, and Mexico)

Europe (Germany, France, the UK, and Rest of the World)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Latin America (Brazil and Rest of Latin America.)

Middle East & Africa (Saudi Arabia, the UAE, , South Africa, and Rest of Middle East & Africa)

The research provides answers to the following key questions:

What is the expected market size of the Bioelectric Medicine market for the forecast period 2020- 2027? What will be the growth rate of the industry during the estimated period?

What are the major driving forces shaping the future of the Bioelectric Medicine industry worldwide?

Who are the major vendors in the industry and what are their strategies to reap more profits and reduce costs?

What are the trends from the past and future that are likely to favor the progress of the Bioelectric Medicine industry worldwide?

What are the major threats and challenges that hinder the development of the industry?

What are the opportunities in store for the business owners operating in the market? 

Scope of the Report:

To help gain the business owner further gain business intelligence the study on the Bioelectric Medicine market for the forecast period 2020 - 2027 brings to light data on production capability, consumption capacity, spending power, investment feasibility, and technology innovation. A thorough assessment of market performance across different regions is presented through self-explanatory graphic images, charts, and tables that add weight to corporate presentations and marketing materials. The study offers regional profiles of major vendors and extensive country-level break down to empower companies to make a wise investment decision when exploring new regions.

Research Methodology

Data triangulation and market breakdown

Research assumptions Research data including primary and secondary data

Primary data includes breakdown of primaries and key industry insights

Secondary data includes key data from secondary sources

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