Global Bioelectric Medicine Market to Surpass US$ 22.3 Billion by 2026

SEATTLE, July 24, 2019 /PRNewswire/ --  According to Coherent Market Insights, the global Bioelectric Medicine Market was valued at US$ 13.0 billion in 2018, and is projected to exhibit a CAGR of 7.2% during the forecast period (2019 – 2026).

Key Trends and Analysis of the Global Bioelectric Medicine Market:

The global bioelectric medicine market size is expected to witness significant growth during the forecast period, owing to increase in regulatory approvals for bioelectric medicine products. For instance, in 2015 Medtronic received the U.S. FDA approval for Evera MRI (implantable cardioverter defibrillator system). This system is used for conducting MRI scans on any part of the patient's body without any positioning restriction.

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Moreover, manufacturers are focusing on launching advanced products in Global Bioelectric Medicine Market. For instance, in September 2016, Cochlear introduced of Cochlear Nucleus Profile implant with a slim modiolar electrode that allows enhanced hearing and protects the inner ear, which delivers optimal hearing outcomes for patients.

Technological advancements in bioelectric medicines is expected to drive the global bioelectric medicine market growth during the forecast period. For instance, in 2018, Researchers at Northwestern University and Washington University School of Medicine developed the first bioelectronic medicine, an implantable, biodegradable wireless device that speeds nerve regeneration and improves the healing of a damaged nerves.

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Key Market Takeaways:

• The global bioelectric medicine market is projected to witness a CAGR of 7.2%during the forecast period (2019 – 2026), owing to increasing investment in the development of bioelectric medicines. For instance, in 2016, Medtronic Plc. invested around US$ 2,224 million in research and development of advanced product of bioelectric medicine
• Among region, North America is expected to hold a dominant position in the global bioelectric medicine market during the forecast period, owing to high prevalence of epilepsy in the U.S. For instance, according to Centers for Disease Control and Prevention (CDC), in 2015, around 3.4 million people of the U.S. population had active epilepsy.
• Major players operating in the global bioelectric medicine market include GlaxoSmithKline, Medtronic Plc., Boston Scientific Corporation, Liva Nova Plc, Electrocore, Nevro, St. Jude Medical, and Reshape Life sciences

Report Segmentation:

• Global Bioelectric Medicine Market, By Product Type:
• Implantable cardioverter defibrillators
• Cochlear implants
• Spinal cord stimulators
• Deep brain stimulators
• Transcutaneous electrical nerve stimulators
• Sacral nerve stimulators
• Vagus nerve stimulators
• Other bioelectric medicines
• Global Bioelectric Medicine Market, By Application:
• Arrhythmia
• Pain management
• Sensorineural hearing loss
• Parkinson's disease
• Tremor
• Depression
• Epilepsy
• Urinary and fecal incontinence
• Others
• Global Bioelectric Medicine Market, By End User:
• Hospitals
• Ambulatory Care Centres
• Diagnostic Centers
• Global Bioelectric Medicine Market, By Region:
• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• Australia
• India
• China
• Japan
• ASEAN
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East
• By Country/Region:
• GCC
• Israel
• Rest of Middle East
• Africa
• By Country/Region:
• South Africa
• Central Africa
• North Africa
• Company Profiles

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/bioelectric-medicine-market-1757

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SOURCE Coherent Market Insights