Electroceuticals/Bioelectric Medicine Market Size Growing at 5% CAGR to hit USD 22.4 billion by 2027

Market Study Report has added a new report on Electroceuticals/Bioelectric Medicine market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Electroceuticals/Bioelectric Medicine market in tandem with its competitive terrain.

The latest research on global Electroceuticals/Bioelectric Medicine market reveals that the business sphere will showcase lucrative growth opportunities, expanding at 5.0% CAGR over 2021-2027, reaching a valuation of USD 22.4 billion by 2027, up from USD 16.0 million in 2020.

Major market player included in this report are:

  • Medtronic plc
  • Boston Scientific Corporation
  • Abbott Laboratories, Inc.
  • LivaNova PLC
  • Cochlear Ltd.
  • MicroPort Scientific Corporation
  • Sonova Group
  • Nevro Corp
  • Axonics Modulation Technologies, Inc.
  • Neuronetics, Inc.

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Electroceuticals are medical devices that use electrical impulses to influence changes in bodily functioning. Electroceuticals are a non-drug option that are projected to become the gold standard for treating a variety of diseases in the future. Electroceuticals, unlike other muscle or tissue stimulators, work on the basis of neurostimulation, which is the use of electrical impulses to modulate the neurological system.

Current treatment options for a variety of neurological illnesses and other disease states rely on drug-based treatments, which come with a slew of side effects and have failed to deliver on their promises of outcomes. The elder people are at a higher risk of acquiring neurologic or cardiovascular problems. Geriatrics are a crucial section of the entire patient pool because of their heightened vulnerability to such illnesses.

As a result, the continued and increased demand for electroceutical devices such as cardiac pacemakers, implantable cardioverter defibrillators, deep brain stimulators, and spinal cord stimulators for the treatment of cardiovascular and neurological disorders will be ensured by the growth of this population segment. Another key driver driving the electroceuticals market is increased investment in the development of enhanced bioelectric medicine.

According to ElectroCore, Cluster headache affects almost 325,000 people in the United States each year. In order to capitalize on the untapped opportunity, the business developed gammaCore, a noninvasive VNS therapy that helps adults manage chronic headaches. It obtained FDA approval in 2018.

Similarly, Peri-Strips Dry with Veritas Collagen Matrix product with Secure Grip received 510 (k) clearance from the US FDA in February 2020. The product is a staple line reinforcing agent that is used to control bleeding during bariatric and other surgical procedures. However, High cost of electroceutical devices may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global Electroceuticals/Bioelectric Medicine Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America is the leading region across the world in terms of market share due to presence of a highly developed healthcare system in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to increasing prevalence of cardiovascular & neurological disorders.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.

Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and application offerings of key players.

Full Report Summary At: https://www.marketstudyreport.com/reports/global-electroceuticals-bioelectric-medicine-market-size-research?utm_source=marketwatch.com&utm_medium=AG
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