CBCT Dental Imaging Market Research Report Information By Type of Detector (Flat Panel Detectors, and Image Intensifier), By Application (Dental Implants, Endodontic, Orthodontics, and Others), By End-Users (Hospitals & Dental Clinics, Academic & Research

Bioelectric Medicine Market Research Report Information by Type (Implantable Electroceutical Devices and Non-invasive Electroceutical Devices), by 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), By Application (Arrhythmia, Pain Management, Sensorineural Hearing Loss, Epilepsy, And Others), By End User (Hospitals & Clinics, ASCs, and Others), By Region (North America, Europe, Asia-Pacific, and Rest of the World) – Industry Forecast till 2030

Over the course of the forecast period, the bioelectric medicine market is expected to rise at a compound annual growth rate (CAGR) of 6.53%. The primary factors propelling the growth of the bioelectric medicine market are increased strategic initiatives by market participants and an increase in the prevalence of chronic diseases worldwide. 18 million individuals worldwide, 70% of whom were women and 55% of whom were over the age of 55, had rheumatoid arthritis in 2019, according to the World Health Organization. Furthermore, according to Crohn's & Colitis UK, 1 in 123 UK citizens will have either ulcerative colitis or Crohn's disease by 2022. Nonetheless, it is anticipated that the high price of bioelectric medical devices will limit the global market's expansion. However, it is projected that the market will see profitable prospects due to the growing number of bioelectric medicine clinical trials and increased investment in bioelectric medicine by industry participants.

The prevalence of chronic illnesses is rising worldwide, which is greatly accelerating the development of bioelectric medicine. Chronic illnesses that negatively affect patients' quality of life and place a significant strain on healthcare systems include neurological disorders, inflammatory diseases, metabolic disorders, and chronic pain syndromes. Conventional treatment modalities, such as medications and surgery, may have limited effectiveness or present risks of side effects for certain patients. There is a considerable demand for bioelectric medicine goods due to the rising incidence of ailments and the promising application of bioelectric medicine in these circumstances. For instance, by controlling aberrant neural activity, deep brain stimulation (DBS) has demonstrated effectiveness in treating the symptoms of Parkinson's disease. Likewise, neuromodulation tools such as vagus nerve stimulation (VNS) have shown promise in lowering the frequency of seizures in epilepsy patients. Furthermore, the World Health Organization stated in February 2024 that approximately 80% of epileptics reside in low- and middle-income nations, and that there are approximately 50 million epileptics globally.

Insights On Market Segments
Based on 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 other devices are included in the global bioelectric medicine segmentation.

The market for bioelectric medicine is divided into two categories based on type: non-invasive and implanted electroceutical devices.

According to application, the bioelectric medicine market has been divided into segments for arrhythmia, pain relief, sensorineural hearing loss, Parkinson's disease, tremor, depression, epilepsy, and fecal and urine incontinence, among other conditions.

The market has been divided into hospitals, research institutes, and other end users.

Regional Perspectives
The market is divided into four regions by the study: North America, Europe, Asia-Pacific, and the Rest of the World. The bioelectric medicine market in North America held the greatest share of 38.01% in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.71% to reach over USD 16.00 billion by 2030. Nonetheless, throughout the course of the projection period, Asia-Pacific is expected to develop at the highest CAGR of 8.99%.

The bioelectric medicine market in North America is expected to grow steadily, and the outlook is still positive. Further market expansion is anticipated as a result of investments in healthcare infrastructure and rising public awareness of modern medical treatments. The increasing desire for better surgical results presents an opportunity for both established firms and newcomers to seize. They will do so by utilizing technology breakthroughs.

Because of rising healthcare costs, the prevalence of chronic diseases, and technological improvements, the bioelectric medicine industry in Europe held the second-largest market share. In addition, the bioelectric medicine market in Germany is thought to have the most market share, while the bioelectric medicine market in France is anticipated to develop at the fastest rate in the European Union.

The bioelectric medicine market in Asia-Pacific is anticipated to develop at the quickest rate between 2023 and 20302, due in part to the region's large patient population, increasing chronic disease prevalence, and advantageous regulatory framework. The market's major players are also aggressively entering this area, which is fueling the growth of the regional market. Furthermore, the bioelectric medicine market in China held the most market share, while the bioelectric medicine market in India is anticipated to develop at the fastest rate in the Asia-Pacific region.

Principal Players
Abbott (US), Boston Scientific Corporation (US), Bortnick (Germany), Aleva Neurotherapeutics (Switzerland), Cochlear Ltd. (Australia), LivaNova PLC (UK), Medtronic (Ireland), Charco Neurotech (UK), ElectroCore, Inc. (US), and Nevro Corp (US) are some of the major companies in the bioelectric medicine business.