The global bioelectric medicine market size was valued at USD 20.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2032. Major market drivers include the rising prevalence of chronic and acute illnesses, rising geriatric population, product improvements, and activities by important firms and organisations. The Alliance for Advancing Bioelectronic Medicine introduced the first Bioelectronic Medicine Day in January 2022, which included a public health campaign. The effort and developments in the area of bioelectronic medicine were supported by the campaign.
By combining bioengineering, molecular medicine, and neurology, bioelectric medicine creates nerve-stimulating devices for the control of biological processes during disease treatment. The main factor projected to drive the market is the increased prevalence of chronic diseases like cardiac and neurological problems. According to the CDC, over 610 thousand Americans per year pass away from cardiac problems. About 370 of them pass away from coronary heart disease (CHDs). Due to the increased need for sophisticated bioelectric medicine to treat various chronic diseases, the market is anticipated to rise quickly.
Devices used in medicine that rely on electrical signals and impulses in the nervous system are referred to as electroceuticals or bioelectric medicine. In order to provide nerve-stimulating technologies for biological processes during the treatment of diseases, it blends molecular medicine, neurology, and bioengineering. It includes implantable defibrillators, cardiac pacemakers, cochlear implants, retinal implants, and relief. Tiny electronic implants used in bioelectric medicine can be used to diagnose and treat a wide range of chronic conditions, including cancer, rheumatoid arthritis, inflammatory bowel disease, obesity, diabetes, asthma, paralysis, and cardiovascular illnesses (CVDs). It offers both non-invasive and invasive treatments for a variety of illnesses and ailments.
This report examines all the key factors influencing growth of global Bioelectric Medicine market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Bioelectric Medicine market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.
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Market Segmentations:
Global Bioelectric Medicine Market: Major Players
Medtronic
Second Sight Medical Products
Electrocore
Sonova Holding
Livanova
Cochlear
Boston Scientific Corporation
Biotronik
St. Jude Medical
Nevro
Global Bioelectric Medicine Market: Types
Implantable Cardioverter Defibrillators
Cardiac Pacemakers
Spinal Cord Stimulators
Cochlear Implants
Deep Brain Stimulators
Transcutaneous Electrical Nerve Stimulators
Vagus Nerve Stimulators
Sacral Nerve Stimulators
Retinal Implants
Other Electrical Stimulators
Global Bioelectric Medicine Market: Applications
Hospitals
Research Institutes
Individual Users
Global Bioelectric Medicine Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Bioelectric Medicine market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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An Overview of the Impact of COVID-19 on Market: The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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