Electroceuticals Market Size is valued at USD 19.08 billion in 2023 and is predicted to reach USD 32.40 billion by the year 2031 at a 6.94% CAGR during the forecast period for 2024-2031
Electroceuticals is a unit of medicine that uses neurobiology, engineering science, and molecular medicine to produce nerve-stimulating technologies for biological parameters during treatment. It uses electrical impulses to influence how the body functions. The main driver fueling the growth of the Electroceuticals market is the rising prevalence of neurological disorders. The market for Electroceuticals is also anticipated to increase due to rising government initiatives and corporate efforts to conduct R&D projects for more effective remedies.
Although the Electroceuticals market is constrained by expensive setup costs and a lack of competent specialists, a lack of awareness will hinder market expansion. Furthermore, the demand for Electroceuticals will have plenty of prospects due to electroceuticals' technological advancements in that field.
The electroceuticals market is segmented by product, type, and application. Based on product, the market is segmented into cardiac pacemakers & implantable cardioverter defibrillators, cochlear implants, neuromodulators, retinal implants. The market is segmented by type into implantable electroceutical devices and non-invasive electroceutical devices. the market is segmented by application cardiac pacemakers & implantable cardioverter defibrillators (ICD), spinal cord stimulators market, deep brain stimulators market, sacral nerve stimulators, vagus nerve stimulators, gastric electrical stimulators, transcutaneous electrical nerve stimulators, transcranial magnetic stimulators, trigeminal nerve stimulators.
The cardiac pacemakers & implantable cardioverter defibrillators category will hold a significant share of the global Electroceuticals market in 2022. Due to increased urbanization and lifestyle change, cardiovascular problems are on the rise globally.
The electrical signals produced by the pacemaker cause the heart muscles to contract, maintaining blood flow. In addition, the market is expected to increase as a result of aspects such as a growing older population, an increase in the frequency of sudden cardiac arrests, and the creation of more advanced technological devices. Shortly, it is predicted that the market for deep brain stimulators will experience profitable growth as the prevalence of Parkinson's disease and other lifestyle-related illnesses, including obesity and depression, continues to rise.
The hospitals, clinics, & ASCs segment is projected to develop at a rapid rate in the global Electroceuticals market because more people are being hospitalized for single or numerous episodes of chronic illnesses like epilepsy, Alzheimer's, arrhythmia, chronic pain, depression, and retinitis pigmentosa. Tremors and epilepsy affect many people, and it is predicted that this number will increase in the upcoming years due to an increase in car accidents, which can cause a variety of traumatic diseases. In order to meet the need for bioelectric medications, healthcare infrastructure is being developed with the assistance of the expanding population.
The North America Electroceuticals market is expected to record the highest market share in revenue in the near future. The existence of significant medical devices producers like Medtronic, Biotronik, and Boston Scientific Corporation explains this. Furthermore, the advancement of the healthcare industry through time and the accessibility of cutting-edge items throughout the region have fueled market expansion. In addition, Asia Pacific is projected to rise in the global Electroceuticals market because the elderly population is growing in Asian nations like China and India. Furthermore, the prevalence of chronic disorders like Parkinson's disease, cardiac arrhythmias, epilepsy, and Alzheimer's disease is rising in this area, which is anticipated to accelerate the adoption of bioelectric therapy.
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Report Attribute |
Specifications |
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Market size value in 2023 |
USD 19.08 Bn |
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Revenue Forecast in 2031 |
USD 32.40 Bn |
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Growth rate CAGR |
CAGR of 6.94 % from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments Covered |
By Product, Type, And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; Germany; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; |
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Competitive Landscape |
Medtronic Plc (Ireland), Boston Scientific Corporation (Us), Abbott, Livanova Plc, Cochlear Ltd., Microport Scientific Corporation, Sonova, Nevro Corp., Axonics, Inc., Neuronetics, Electrocore, Inc., Neuropace, Inc., Biotronik, Medico S.R.L., Zhejiang Nurotron Biotechnology Co., Ltd., Med-El, Aleva Neurotherapeutics, Neurosigma, Inc., Soterix Medical Inc., Bioinduction (Amber Therapeutics), Gimer Medical, Cefaly, Biocontrol Medical
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Electroceuticals Market Snapshot
Chapter 4. Global Electroceuticals Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:
5.2.1. Cardiac Pacemakers & Implantable Cardioverter Defibrillators
5.2.2. Cochlear Implants
5.2.3. Neuromodulators
5.2.3.1. Spinal Cord Stimulators
5.2.3.2. Deep Brain Stimulators
5.2.3.3. Sacral Nerve Stimulators
5.2.3.4. Vagus Nerve Stimulators
5.2.3.5. Gastric Electrical Stimulators
5.2.3.6. Transcutaneous Electrical Nerve Stimulator
5.2.3.7. Transcranial Magnetic Stimulators
5.2.3.8. Respiratory Electrical Stimulators
5.2.3.9. Trigeminal Nerve Stimulators
5.2.3.10. Responsive Neurostimulators
5.2.4. Retinal Implants
Chapter 6. Market Segmentation 2: by Type Estimates & Trend Analysis
6.1. by Type & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
6.2.1. Implantable Electroceutical Devices
6.2.2. Noninvasive Electroceutical Devices
Chapter 7. Market Segmentation 3: by Application Estimates & Trend Analysis
7.1. by Application & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
7.2.1. Cardiac Pacemakers & Implantable Cardioverter Defibrillators (ICD), By Application
7.2.1.1. Arrhythmia
7.2.1.2. Heart Failure
7.2.1.3. Other Cardiac Pacemakers & ICD Applications
7.2.2. Spinal Cord Stimulators Market, By Application
7.2.2.1. Failed Back Syndrome
7.2.2.2. Chronic Pain
7.2.2.3. Ischemia
7.2.3. Deep Brain Stimulators Market, By Application
7.2.3.1. Parkinson’s Disease
7.2.3.2. Tremor
7.2.3.3. Depression
7.2.3.4. Other DBS Applications
7.2.4. Sacral Nerve Stimulators Market, By Application
7.2.4.1. Urine Incontinence
7.2.4.2. Fecal Incontinence
7.2.5. Vagus Nerve Stimulators Market, By Application
7.2.5.1. Epilepsy
7.2.5.2. Other VNS Applications
7.2.6. Gastric Electrical Stimulators Market, By Application
7.2.6.1. Gastroparesis
7.2.6.2. Obesity
7.2.7. Transcutaneous Electrical Nerve Stimulators Market, By Application
7.2.7.1. Treatment-Resistant Depression
7.2.7.2. Other TENS Applications
7.2.8. Transcranial Magnetic Stimulators Market, By Application
7.2.8.1. Depression
7.2.8.2. Migraine Headache
7.2.9. Trigeminal Nerve Stimulators, By Application
7.2.9.1. Attention Deficit Hyperactivity Disorder (ADHD)
7.2.9.2. Migraine
Chapter 8. Electroceuticals Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
8.1.2. North America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.1.3. North America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
8.1.4. North America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.2. Europe
8.2.1. Europe Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
8.2.2. Europe Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.2.3. Europe Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
8.2.4. Europe Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
8.3.2. Asia Pacific Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.3.3. Asia-Pacific Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
8.3.4. Asia Pacific Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.4. Latin America
8.4.1. Latin America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
8.4.2. Latin America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.4.3. Latin America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
8.4.4. Latin America Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Product, 2024-2031
8.5.2. Middle East & Africa Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
8.5.3. Middle East & Africa Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
8.5.4. Middle East & Africa Electroceuticals Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
Electroceuticals Market By Product
Electroceuticals Market By Type
Electroceuticals Market By Application
Electroceuticals Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
