Electroceuticals are the therapeutic agents that act on the neural circuits of the organs. Unlike conventional drugs, these drugs target discrete neural electrical circuits in the cells thus making it a precise medication for the treatment. Thus, they are considered to be an alternative for the pharmaceutical drug-based remedies. Electroceuticals make use of neuroscience, electronics, bioengineering, and molecular medicines for regulating the biological processes in human body. These are used in treating various diseases namely; cardiovascular diseases, rheumatoid arthritis, diabetes, paralysis,and epilepsy.
Rise in prevalence and incidences of neurological disorders along with increased cost pressures of pharmaceutical drugs are anticipated to drive the electroceuticals market in the coming future. Moreover, rise in geriatric population and increase in investments for development of electroceuticals are expected to further boost the electroceuticals medicine market growth. However, the possibility of the targeted impulse might stimulate the other surrounding nerves and the complexity of the neural network is expected to hamper the growth of the market across the globe. In addition, higher costs of implants retrain the growth of the market in the coming years. Furthermore, presence of pipeline products is providing newer opportunities for the growth of the market in developed as well as developing countries.
The electroceuticals medicine market can be segmented on the basis of application, route of administration, distribution channel, and region. Based on type, the market can be bifurcated into implantable electroceutical and non-invasive electroceutical devices. Based on application, it is divided into arrhythmia, pain management, sensorineural hearing loss, Parkinson’s disease, tremor, depression, treatment resistant depression, epilepsy, urinary and fecal incontinence, and others. On the basis ofproduct, the market is classified into implantable cardioverter defibrillators, cardiac pacemaker, cochlear implant, spinal cord stimulators, deep brain stimulators, transcutaneous electrical nerve stimulators, sacralnerve stimulator, vagus nerve stimulator, and others. Based on end user, the electroceuticals medicine market is divided into hospitals, research institutes, individual users, and others. Region wise, it is analyzed across North America, Asia-Pacific, Europe, and LAMEA.
The prominent players in the market have adopted various strategies for increasing theirelectroceuticals medicine market share. These include expansion of their geographical presence through collaborations and partnerships and increase in investment in developing long acting and effective products with lower adverse effects. Major players operating in the electroceuticals medicine market includeBoston Scientific Corporation, Medtronic plc, Cochlear Limited, Biotronik, LivaNova PLC, ElectroCore LLC, Vomaris Innovations, Inc., BioElectronics Corporation, Oticon Medical, and NeuroSigma, Inc. Some of the other players operating in the market are St. Jude Medical, Inc., Sonova Holding AG, EnteroMedics Inc., Nevro Corporation, Cefaly Technology, and Stimwave LLC.
Key Benefits For Stakeholders
This report provides a detailed quantitative analysis of the current electroceuticals medicine market trends and forecast estimations which assists to identify the prevailing electroceuticals medicine market opportunities.
An in-depth market analysis includes analysis of various regions and is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the global electroceuticals medicine market is provided.
Region-wise and country-wise electroceuticals medicine market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current electroceuticals medicine market trends and future market potential in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
The key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of global market.
Electroceuticals Medicine Market, by Type Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Product |
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 By End User |
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 By Region |
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 Key Market Players | Biotronik, LivaNova PLC, Vomaris Innovations Inc., Medtronic plc, Boston Scientific Corporation, NeuroSigma Inc., ElectroCore LLC, Cochlear Limited, Oticon Medical, BioElectronics Corporation |
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