Product Code: 12525
The value of the bioelectric medicine market was USD 21,532.1 million in 2022, and it will power at a rate of 5.2% in the future, to touch USD 32,345.8 million by 2030, as claimed by P&S Intelligence in its latest report.
Implantable Cardioverter Defibrillators Are Most Used
Implantable cardioverter defibrillators are the most used of all the products, because of their extensive range of applications. Their electrical stimulation capability makes them necessary for the treatment of atrial fibrillation, ventricular tachycardia, and atrial flutter.
Furthermore, they are employed in conjunction with other treatments, including medications or surgery.
The increasing occurrence of cardiac arrests and neurological ailments in the elderly population is pushing the growth of this category.
This part of society has a mounting requirement for implantable devices, including cardioverter defibrillators, deep-brain stimulators, cardiac pacemakers, and spinal cord stimulators.
Bioelectric Medicine Need Highest among Arrhythmia Patients
The arrhythmia category dominates the industry with around 60% of the revenue, and it will attain the highest CAGR in the future. This is because of the growing patient pool with the issue of arrhythmias, which widely uses implantable cardioverter defibrillators and cardiac pacemakers.
Moreover, several players are stressing over the increase of their business prospects, via collaborations, mergers, and partnerships, which will allow them to upgrade their research scope too.
Bioelectric Medicine Demand Is Highest in North America
North America had the largest revenue share, of above 40%, in the past, because of the high R&D investments, rising acceptance of technologically progressive devices, existence of major players, and large hospital count. Furthermore, the increasing healthcare spending is a key factor powering the regional industry.
Moreover, APAC will grow the fastest because of the increasing prevalence of numerous health ailments, including, Alzheimer's disease, epilepsy, spinal cord injuries, and cardiac arrhythmias; increasing government expenditure on the healthcare infrastructure, and wide accessibility of clinical labs and new diagnostic technologies.
Increasing Acceptance of Implantable Electroceutical Devices
The implantable electroceutical devices category had the largest share, of about 80%, in the past. This is mainly credited to the increasing prevalence of numerous cardiovascular and neurological illnesses and the increasing count of product approvals.
Hospitals To Grow Fastest as End Users
Hospitals will have the fastest growth, of around 7%, in the years to come. This will be because of the availability of cutting-edge devices for the detection and treatment of neurological and hearing ailments and skilled healthcare providers at these institutions.
Several chronic ailments, for example, Alzheimer's, arrhythmias, epilepsy, chronic pain, and retinitis pigmentosa, result in the hospitalization of the patient. In 2022, as per the Alzheimer's Association, about 6.5 million Americans aged over 65 years and about 73% of those aged 75 or more had Alzheimer's.
Table of Contents
Chapter 1. Research Scope
- 1.1. Research Objectives
- 1.2. Market Definition
- 1.3. Analysis Period
- 1.4. Market Size Breakdown by Segment
- 1.4.1. Market size breakdown, by end user
- 1.4.2. Market size breakdown, by application
- 1.4.3. Market size breakdown, by device type
- 1.4.4. Market size breakdown, by product
- 1.4.5. Market size breakdown, by region
- 1.4.6. Market size breakdown, by country
- 1.5. Market Data Reporting Unit
- 1.6. Key Stakeholders
Chapter 2. Research Methodology
- 2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
- 2.2. Primary Research
- 2.3. Market Size Estimation
- 2.4. Data Triangulation
- 2.5. Currency Conversion Rates
- 2.6. Assumptions for the Study
- 2.7. Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
Chapter 6. Industry Outlook
- 6.1. Market Dynamics
- 6.1.1. Trends
- 6.1.2. Drivers
- 6.1.3. Restraints/challenges
- 6.1.4. Impact analysis of drivers/restraints
- 6.2. Impact of COVID-19
- 6.3. Porter's Five Forces Analysis
- 6.3.1. Bargaining power of buyers
- 6.3.2. Bargaining power of suppliers
- 6.3.3. Threat of new entrants
- 6.3.4. Intensity of rivalry
- 6.3.5. Threat of substitutes
Chapter 7. Global Market
- 7.1. Overview
- 7.2. Market Revenue, by End User (2017-2030)
- 7.3. Market Revenue, by Application (2017-2030)
- 7.4. Market Revenue, by Device Type (2017-2030)
- 7.5. Market Revenue, by Product (2017-2030)
- 7.6. Market Revenue, by Region (2017-2030)
Chapter 8. North America Market
- 8.1. Overview
- 8.2. Market Revenue, by End User (2017-2030)
- 8.3. Market Revenue, by Application (2017-2030)
- 8.4. Market Revenue, by Device Type (2017-2030)
- 8.5. Market Revenue, by Product (2017-2030)
- 8.6. Market Revenue, by Country (2017-2030)
Chapter 9. Europe Market
- 9.1. Overview
- 9.2. Market Revenue, by End User (2017-2030)
- 9.3. Market Revenue, by Application (2017-2030)
- 9.4. Market Revenue, by Device Type (2017-2030)
- 9.5. Market Revenue, by Product (2017-2030)
- 9.6. Market Revenue, by Country (2017-2030)
Chapter 10. APAC Market
- 10.1. Overview
- 10.2. Market Revenue, by End User (2017-2030)
- 10.3. Market Revenue, by Application (2017-2030)
- 10.4. Market Revenue, by Device Type (2017-2030)
- 10.5. Market Revenue, by Product (2017-2030)
- 10.6. Market Revenue, by Country (2017-2030)
Chapter 11. LATAM Market
- 11.1. Overview
- 11.2. Market Revenue, by End User (2017-2030)
- 11.3. Market Revenue, by Application (2017-2030)
- 11.4. Market Revenue, by Device Type (2017-2030)
- 11.5. Market Revenue, by Product (2017-2030)
- 11.6. Market Revenue, by Country (2017-2030)
Chapter 12. MEA Market
- 12.1. Overview
- 12.2. Market Revenue, by End User (2017-2030)
- 12.3. Market Revenue, by Application (2017-2030)
- 12.4. Market Revenue, by Device Type (2017-2030)
- 12.5. Market Revenue, by Product (2017-2030)
- 12.6. Market Revenue, by Country (2017-2030)
Chapter 13. U.S. Market
- 13.1. Overview
- 13.2. Market Revenue, by End User (2017-2030)
- 13.3. Market Revenue, by Application (2017-2030)
- 13.4. Market Revenue, by Device Type (2017-2030)
- 13.5. Market Revenue, by Product (2017-2030)
Chapter 14. Canada Market
- 14.1. Overview
- 14.2. Market Revenue, by End User (2017-2030)
- 14.3. Market Revenue, by Application (2017-2030)
- 14.4. Market Revenue, by Device Type (2017-2030)
- 14.5. Market Revenue, by Product (2017-2030)
Chapter 15. Germany Market
- 15.1. Overview
- 15.2. Market Revenue, by End User (2017-2030)
- 15.3. Market Revenue, by Application (2017-2030)
- 15.4. Market Revenue, by Device Type (2017-2030)
- 15.5. Market Revenue, by Product (2017-2030)
Chapter 16. France Market
- 16.1. Overview
- 16.2. Market Revenue, by End User (2017-2030)
- 16.3. Market Revenue, by Application (2017-2030)
- 16.4. Market Revenue, by Device Type (2017-2030)
- 16.5. Market Revenue, by Product (2017-2030)
Chapter 17. U.K. Market
- 17.1. Overview
- 17.2. Market Revenue, by End User (2017-2030)
- 17.3. Market Revenue, by Application (2017-2030)
- 17.4. Market Revenue, by Device Type (2017-2030)
- 17.5. Market Revenue, by Product (2017-2030)
Chapter 18. Italy Market
- 18.1. Overview
- 18.2. Market Revenue, by End User (2017-2030)
- 18.3. Market Revenue, by Application (2017-2030)
- 18.4. Market Revenue, by Device Type (2017-2030)
- 18.5. Market Revenue, by Product (2017-2030)
Chapter 19. Spain Market
- 19.1. Overview
- 19.2. Market Revenue, by End User (2017-2030)
- 19.3. Market Revenue, by Application (2017-2030)
- 19.4. Market Revenue, by Device Type (2017-2030)
- 19.5. Market Revenue, by Product (2017-2030)
Chapter 20. Japan Market
- 20.1. Overview
- 20.2. Market Revenue, by End User (2017-2030)
- 20.3. Market Revenue, by Application (2017-2030)
- 20.4. Market Revenue, by Device Type (2017-2030)
- 20.5. Market Revenue, by Product (2017-2030)
Chapter 21. China Market
- 21.1. Overview
- 21.2. Market Revenue, by End User (2017-2030)
- 21.3. Market Revenue, by Application (2017-2030)
- 21.4. Market Revenue, by Device Type (2017-2030)
- 21.5. Market Revenue, by Product (2017-2030)
Chapter 22. India Market
- 22.1. Overview
- 22.2. Market Revenue, by End User (2017-2030)
- 22.3. Market Revenue, by Application (2017-2030)
- 22.4. Market Revenue, by Device Type (2017-2030)
- 22.5. Market Revenue, by Product (2017-2030)
Chapter 23. Australia Market
- 23.1. Overview
- 23.2. Market Revenue, by End User (2017-2030)
- 23.3. Market Revenue, by Application (2017-2030)
- 23.4. Market Revenue, by Device Type (2017-2030)
- 23.5. Market Revenue, by Product (2017-2030)
Chapter 24. South Korea Market
- 24.1. Overview
- 24.2. Market Revenue, by End User (2017-2030)
- 24.3. Market Revenue, by Application (2017-2030)
- 24.4. Market Revenue, by Device Type (2017-2030)
- 24.5. Market Revenue, by Product (2017-2030)
Chapter 25. Brazil Market
- 25.1. Overview
- 25.2. Market Revenue, by End User (2017-2030)
- 25.3. Market Revenue, by Application (2017-2030)
- 25.4. Market Revenue, by Device Type (2017-2030)
- 25.5. Market Revenue, by Product (2017-2030)
Chapter 26. Mexico Market
- 26.1. Overview
- 26.2. Market Revenue, by End User (2017-2030)
- 26.3. Market Revenue, by Application (2017-2030)
- 26.4. Market Revenue, by Device Type (2017-2030)
- 26.5. Market Revenue, by Product (2017-2030)
Chapter 27. Saudi Arabia Market
- 27.1. Overview
- 27.2. Market Revenue, by End User (2017-2030)
- 27.3. Market Revenue, by Application (2017-2030)
- 27.4. Market Revenue, by Device Type (2017-2030)
- 27.5. Market Revenue, by Product (2017-2030)
Chapter 28. South Africa Market
- 28.1. Overview
- 28.2. Market Revenue, by End User (2017-2030)
- 28.3. Market Revenue, by Application (2017-2030)
- 28.4. Market Revenue, by Device Type (2017-2030)
- 28.5. Market Revenue, by Product (2017-2030)
Chapter 29. U.A.E. Market
- 29.1. Overview
- 29.2. Market Revenue, by End User (2017-2030)
- 29.3. Market Revenue, by Application (2017-2030)
- 29.4. Market Revenue, by Device Type (2017-2030)
- 29.5. Market Revenue, by Product (2017-2030)
Chapter 30. Competitive Landscape
- 30.1. List of Market Players and Their Offerings
- 30.2. Competitive Benchmarking of Key Players
- 30.3. Product Benchmarking of Key Players
- 30.4. Recent Strategic Developments
Chapter 31. Company Profiles
- 31.1. Medtronic plc
- 31.1.1. Business overview
- 31.1.2. Product and service offerings
- 31.1.3. Key financial summary
- 31.2. Abbott Laboratories
- 31.2.1. Business overview
- 31.2.2. Product and service offerings
- 31.2.3. Key financial summary
- 31.3. Boston Scientific Corporation
- 31.3.1. Business overview
- 31.3.2. Product and service offerings
- 31.3.3. Key financial summary
- 31.4. LivaNova PLC
- 31.4.1. Business overview
- 31.4.2. Product and service offerings
- 31.4.3. Key financial summary
- 31.5. Cochlear Limited
- 31.5.1. Business overview
- 31.5.2. Product and service offerings
- 31.5.3. Key financial summary
- 31.6. Nevro Corp.
- 31.6.1. Business overview
- 31.6.2. Product and service offerings
- 31.6.3. Key financial summary
- 31.7. Axonics Inc.
- 31.7.1. Business overview
- 31.7.2. Product and service offerings
- 31.7.3. Key financial summary
- 31.8. Second Sight Medical Products Inc.
- 31.8.1. Business overview
- 31.8.2. Product and service offerings
- 31.8.3. Key financial summary
- 31.9. electroCore Inc.
- 31.9.1. Business overview
- 31.9.2. Product and service offerings
- 31.9.3. Key financial summary
- 31.10. Sonova Holding AG
- 31.10.1. Business overview
- 31.10.2. Product and service offerings
- 31.10.3. Key financial summary
- 31.11. Biowave Limited
- 31.11.1. Business overview
- 31.11.2. Product and service offerings
- 31.12. MicroPort Scientific Corporation
- 31.12.1. Business overview
- 31.12.2. Product and service offerings
- 31.12.3. Key financial summary
- 31.13. SetPoint Medical Corporation
- 31.13.1. Business overview
- 31.13.2. Product and service offerings
- 31.14. Sky Medical Technology
- 31.14.1. Business overview
- 31.14.2. Product and service offerings
- 31.15. Neuronetics Inc.
- 31.15.1. Business overview
- 31.15.2. Product and service offerings
- 31.15.3. Key financial summary
Chapter 32. Appendix
- 32.1. Abbreviations
- 32.2. Sources and References
- 32.3. Related Reports