Bioelectric Medicine Market Report by Type (Implantable Electroceutical Devices, Non-Invasive Electroceutical Devices), Product (Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Cochlear Implants, Spinal Cord Stimulators, Deep Brain Stimulator

Bioelectric Medicine Market Report by Type (Implantable Electroceutical Devices, Non-Invasive Electroceutical Devices), Product (Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Cochlear Implants, Spinal Cord Stimulators, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and Others), Application (Arrhythmia, Pain Management, Sensorineural Hearing Loss, Parkinson’s Disease, Tremor, Depression, Treatment-Resistant Depression, Epilepsy, Urinary and Fecal Incontinence, and Others), End Use (Hospitals, Research Institutes, Individual Users, and Others), and Region 2024-2032

The global bioelectric medicine market size reached US$ 22.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 35.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.15% during 2024-2032.

Bioelectric medicine or electroceuticals encompasses medical-related devices that utilize electrical impulses and signaling in the nervous system. It combines molecular medicine, neuroscience, and bioengineering to develop nerve-stimulating technologies for biological processes during the treatment of diseases. It consists of cochlear, retinal implants, relief, cardiac pacemakers, spinal cord stimulators, and implantable defibrillators. Bioelectric medicine includes tiny electronic implants that can diagnose and treat various chronic diseases, such as rheumatoid arthritis, inflammatory bowel disease, cancer, obesity, diabetes, asthma, paralysis, and cardiovascular diseases (CVDs). It can treat a wide range of conditions and disorders using both non-invasive and invasive approaches.

Bioelectric Medicine Market Trends:

The growing geriatric population and the increasing incidences of cardiovascular and neurological disorders across the globe are creating a positive outlook for the market. Bioelectric medicine uses the deep brain, vagus sacral, and transcutaneous electric nerve stimulator to treat these conditions. In line with this, the escalating prevalence of arrhythmia that involves the use of implantable cardioverter-defibrillators and cardiac pacemakers to treat the ailment is acting as another growth-inducing factor. Additionally, the increasing demand for deep brain stimulators owing to the rising instances of Parkinson's disease and lifestyle-induced disorders, such as depression and obesity, is favoring the market growth. Apart from this, manufacturers are launching smart products that help in the early detection and diagnosis of cardiac arrhythmias and cater unmet needs of the consumers, which, in turn, is providing an impetus to the market growth. Moreover, increasing approvals for advanced bioelectric medicine and a rise in investment and funding of new therapies and electroceuticals are positively influencing the market growth. Besides this, extensive research and development (R&D) activities, significant growth in the healthcare infrastructure, increasing expenditure capacities of consumers, and the presence of advanced medical devices for treatment purposes are supporting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bioelectric medicine market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, product, application and end use.

Breakup by Type:

• mplantable Electroceutical Devices
• Non-Invasive Electroceutical Devices

Breakup by Product:

• mplantable Cardioverter Defibrillators
• Cardiac Pacemakers
• Cochlear Implants
• Spinal Cord Stimulators
• Deep Brain Stimulators
• Transcutaneous Electrical Nerve Stimulators
• Sacral Nerve Stimulators
• Vagus Nerve Stimulators
• Others

Breakup by Application:

• Arrhythmia
• Pain Management
• Sensorineural Hearing Loss
• Parkinson’s Disease
• Tremor
• Depression
• Treatment-Resistant Depression
• Epilepsy
• Urinary and Fecal Incontinence
• Others

Breakup by End Use:

• Hospitals
• Research Institutes
• ndividual Users
• Others

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Biotronik SE & Co KG, Boston Scientific Corporation, Cochlear Limited, electroCore Inc., LivaNova PLC, MED-EL Medical Electronics, Medtronic plc and Sonova Holding AG.

Key Questions Answered in This Report

1. How big is the global bioelectric medicine market?

2. What is the expected growth rate of the global bioelectric medicine market during 2024-2032?

3. What are the key factors driving the global bioelectric medicine market?

4. What has been the impact of COVID-19 on the global bioelectric medicine market?

5. What is the breakup of the global bioelectric medicine market based on the type?

6. What is the breakup of the global bioelectric medicine market based on the product?

7. What is the breakup of the global bioelectric medicine market based on the application?

8. What is the breakup of the global bioelectric medicine market based on the end use?

9. What are the key regions in the global bioelectric medicine market?

10. Who are the key players/companies in the global bioelectric medicine market?