The global electroceuticals market was valued at $ 19.8 billion in 2022 and is estimated to reach $40.5 billion by 2032, exhibiting a CAGR of 7.4% from 2023 to 2032. Electroceuticals are medical devices that utilize electrical impulses to modulate the body's neural circuits, tissues, or organs for therapeutic purposes. They offer a non-pharmacological approach for treating various conditions such as chronic pain, neurological disorders, and cardiovascular diseases. By leveraging the body's own electrical signaling pathways, electroceuticals aim to restore normal physiological function and alleviate symptoms. These devices can range from implanted neurostimulators and neuromodulators to external devices such as transcutaneous electrical nerve stimulation (TENS) units and wearable electroceutical patches. Electroceuticals represent an innovative and rapidly advancing field, offering promising solutions for improving patient outcomes and quality of life.
The growth of the electroceuticals market is majorly driven by increase in geriatric population. This is attributed to the fact that elderly individuals are susceptible to age-related health conditions such as neurological disorders, chronic pain, and cardiovascular issues, which are often treated using electroceutical devices. As per the U.S. Census Bureau 2022, more than 56 million adults aged 65 and above live in the U.S., accounting for almost 16.9% of the nation's population; thus, rise in geriatric population is anticipated to fuel the growth of the market. In addition, the aging demographic seeks alternative treatments to minimize medication dependency and improve quality of life, leading to greater acceptance of electroceuticals. Moreover, advancements in healthcare technology and the growing understanding of the body's electrical systems have paved the way for innovative electroceutical solutions tailored to the needs of older adults. As a result, the expanding elderly population presents a significant market opportunity for electroceutical manufacturers and developers, driving investment, research, and development in this sector.
Furthermore, electroceutical devices have seen notable technological advancements, resulting in smaller, more flexible, and efficient products. Advancements include compatibility with MRI scans, eliminating the inconvenience of device removal during imaging procedures. Moreover, the introduction of rechargeable batteries and wireless capabilities enhances patient comfort and convenience. These innovations address key concerns such as patient mobility and ease of use, driving the demand among both patients and physicians. As a result, the electroceuticals market is expected to experience significant growth as these advancements make these devices more accessible, user-friendly, and capable of delivering effective treatments for various medical conditions, ultimately improving patient outcomes and quality of life.
The global electroceuticals market is segmented into product, device type, application, end user, and region. On the basis of product, the market is categorized into cardiac pacemakers & implantable cardioverter defibrillators, cochlear implants, spinal cord stimulators, deep brain stimulators, vagus nerve stimulators, sacral nerve stimulators, and others. Depending on device type, it is bifurcated into implantable devices and non-invasive devices. On the basis of application, it is classified into arrhythmia, sensorineural hearing loss, epilepsy, parkinson's disease, and others. By end user, it is segregated into hospitals, ambulatory surgical centers, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and Latin America (Brazil, Colombia, Argentina, and rest of Latin America), and Middle East & Africa (GCC, South Africa, North Africa, and rest of Middle East & Africa).
The key players that operate in the electroceuticals market are Medtronic, Abbott Laboratorie, Boston Scientific Corporation; Cochlear Ltd., LivaNova PLC, Biotronik SE & Co. KG, ElectroCore, Inc., Sonova, Nevro Corp., and Stimwave LLC. The key players have adopted product launch, product development, and product approval as the key strategies to strengthen their foothold in the competitive market
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electroceuticals market analysis from 2022 to 2032 to identify the prevailing electroceuticals market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electroceuticals market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electroceuticals market trends, key players, market segments, application areas, and market growth strategies.
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Historic market data
Reimbursement Scenario
Key Market Segments
By Product
Cardiac Pacemakers and Implantable Cardioverter Defibrillators
Cochlear Implants
Spinal Cord Stimulators
Deep Brain Stimulators
Vagus Nerve Stimulators
Sacral Nerve Stimulators
Others
By Device Type
Implantable Devices
Non-invasive Devices
By Application
Arrhythmia
Sensorineural Hearing Loss
Epilepsy
Parkinson's Disease
Others
By End User
Hospitals
Ambulatory Surgical Centers
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Colombia
Argentina
Rest Of La
Middle East and Africa
Gcc
South Africa
North Africa
Rest Of Mea
Key Market Players:
Medtronic
Abbott Laboratories
Boston Scientific Corporation
Cochlear Limited
LivaNova PLC
Biotronik SE & Co. KG
electroCore, Inc.
Sonova Holding AG
Nevro Corporation
Oticon Medical AB
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter's five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
CHAPTER 4: ELECTROCEUTICALS MARKET, BY PRODUCT
4.1. Overview
4.1.1. Market size and forecast
4.2. Cardiac Pacemakers and Implantable Cardioverter Defibrillators
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Cochlear Implants
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
4.4. Spinal Cord Stimulators
4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast, by region
4.4.3. Market share analysis by country
4.5. Deep Brain Stimulators
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast, by region
4.5.3. Market share analysis by country
4.6. Vagus Nerve Stimulators
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast, by region
4.6.3. Market share analysis by country
4.7. Sacral Nerve Stimulators
4.7.1. Key market trends, growth factors and opportunities
4.7.2. Market size and forecast, by region
4.7.3. Market share analysis by country
4.8. Others
4.8.1. Key market trends, growth factors and opportunities
4.8.2. Market size and forecast, by region
4.8.3. Market share analysis by country
CHAPTER 5: ELECTROCEUTICALS MARKET, BY DEVICE TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. Implantable Devices
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Non-invasive Devices
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: ELECTROCEUTICALS MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market size and forecast
6.2. Arrhythmia
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market share analysis by country
6.3. Sensorineural Hearing Loss
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market share analysis by country
6.4. Epilepsy
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market share analysis by country
6.5. Parkinson's Disease
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market share analysis by country
6.6. Others
6.6.1. Key market trends, growth factors and opportunities
6.6.2. Market size and forecast, by region
6.6.3. Market share analysis by country
CHAPTER 7: ELECTROCEUTICALS MARKET, BY END USER
7.1. Overview
7.1.1. Market size and forecast
7.2. Hospitals
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market share analysis by country
7.3. Ambulatory Surgical Centers
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market share analysis by country
7.4. Others
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market share analysis by country
CHAPTER 8: ELECTROCEUTICALS MARKET, BY REGION
8.1. Overview
8.1.1. Market size and forecast By Region
8.2. North America
8.2.1. Key market trends, growth factors and opportunities
8.2.2. Market size and forecast, by Product
8.2.3. Market size and forecast, by Device Type
8.2.4. Market size and forecast, by Application
8.2.5. Market size and forecast, by End User
8.2.6. Market size and forecast, by country
8.2.6.1. U.S.
8.2.6.1.1. Market size and forecast, by Product
8.2.6.1.2. Market size and forecast, by Device Type
8.2.6.1.3. Market size and forecast, by Application
8.2.6.1.4. Market size and forecast, by End User
8.2.6.2. Canada
8.2.6.2.1. Market size and forecast, by Product
8.2.6.2.2. Market size and forecast, by Device Type
8.2.6.2.3. Market size and forecast, by Application
8.2.6.2.4. Market size and forecast, by End User
8.2.6.3. Mexico
8.2.6.3.1. Market size and forecast, by Product
8.2.6.3.2. Market size and forecast, by Device Type
8.2.6.3.3. Market size and forecast, by Application
8.2.6.3.4. Market size and forecast, by End User
8.3. Europe
8.3.1. Key market trends, growth factors and opportunities
8.3.2. Market size and forecast, by Product
8.3.3. Market size and forecast, by Device Type
8.3.4. Market size and forecast, by Application
8.3.5. Market size and forecast, by End User
8.3.6. Market size and forecast, by country
8.3.6.1. Germany
8.3.6.1.1. Market size and forecast, by Product
8.3.6.1.2. Market size and forecast, by Device Type
8.3.6.1.3. Market size and forecast, by Application
8.3.6.1.4. Market size and forecast, by End User
8.3.6.2. France
8.3.6.2.1. Market size and forecast, by Product
8.3.6.2.2. Market size and forecast, by Device Type
8.3.6.2.3. Market size and forecast, by Application
8.3.6.2.4. Market size and forecast, by End User
8.3.6.3. UK
8.3.6.3.1. Market size and forecast, by Product
8.3.6.3.2. Market size and forecast, by Device Type
8.3.6.3.3. Market size and forecast, by Application
8.3.6.3.4. Market size and forecast, by End User
8.3.6.4. Italy
8.3.6.4.1. Market size and forecast, by Product
8.3.6.4.2. Market size and forecast, by Device Type
8.3.6.4.3. Market size and forecast, by Application
8.3.6.4.4. Market size and forecast, by End User
8.3.6.5. Spain
8.3.6.5.1. Market size and forecast, by Product
8.3.6.5.2. Market size and forecast, by Device Type
8.3.6.5.3. Market size and forecast, by Application
8.3.6.5.4. Market size and forecast, by End User
8.3.6.6. Rest of Europe
8.3.6.6.1. Market size and forecast, by Product
8.3.6.6.2. Market size and forecast, by Device Type
8.3.6.6.3. Market size and forecast, by Application
8.3.6.6.4. Market size and forecast, by End User
8.4. Asia-Pacific
8.4.1. Key market trends, growth factors and opportunities
8.4.2. Market size and forecast, by Product
8.4.3. Market size and forecast, by Device Type
8.4.4. Market size and forecast, by Application
8.4.5. Market size and forecast, by End User
8.4.6. Market size and forecast, by country
8.4.6.1. Japan
8.4.6.1.1. Market size and forecast, by Product
8.4.6.1.2. Market size and forecast, by Device Type
8.4.6.1.3. Market size and forecast, by Application
8.4.6.1.4. Market size and forecast, by End User
8.4.6.2. China
8.4.6.2.1. Market size and forecast, by Product
8.4.6.2.2. Market size and forecast, by Device Type
8.4.6.2.3. Market size and forecast, by Application
8.4.6.2.4. Market size and forecast, by End User
8.4.6.3. India
8.4.6.3.1. Market size and forecast, by Product
8.4.6.3.2. Market size and forecast, by Device Type
8.4.6.3.3. Market size and forecast, by Application
8.4.6.3.4. Market size and forecast, by End User
8.4.6.4. Australia
8.4.6.4.1. Market size and forecast, by Product
8.4.6.4.2. Market size and forecast, by Device Type
8.4.6.4.3. Market size and forecast, by Application
8.4.6.4.4. Market size and forecast, by End User
8.4.6.5. South Korea
8.4.6.5.1. Market size and forecast, by Product
8.4.6.5.2. Market size and forecast, by Device Type
8.4.6.5.3. Market size and forecast, by Application
8.4.6.5.4. Market size and forecast, by End User
8.4.6.6. Rest of Asia-Pacific
8.4.6.6.1. Market size and forecast, by Product
8.4.6.6.2. Market size and forecast, by Device Type
8.4.6.6.3. Market size and forecast, by Application
8.4.6.6.4. Market size and forecast, by End User
8.5. Latin America
8.5.1. Key market trends, growth factors and opportunities
8.5.2. Market size and forecast, by Product
8.5.3. Market size and forecast, by Device Type
8.5.4. Market size and forecast, by Application
8.5.5. Market size and forecast, by End User
8.5.6. Market size and forecast, by country
8.5.6.1. Brazil
8.5.6.1.1. Market size and forecast, by Product
8.5.6.1.2. Market size and forecast, by Device Type
8.5.6.1.3. Market size and forecast, by Application
8.5.6.1.4. Market size and forecast, by End User
8.5.6.2. Colombia
8.5.6.2.1. Market size and forecast, by Product
8.5.6.2.2. Market size and forecast, by Device Type
8.5.6.2.3. Market size and forecast, by Application
8.5.6.2.4. Market size and forecast, by End User
8.5.6.3. Argentina
8.5.6.3.1. Market size and forecast, by Product
8.5.6.3.2. Market size and forecast, by Device Type
8.5.6.3.3. Market size and forecast, by Application
8.5.6.3.4. Market size and forecast, by End User
8.5.6.4. Rest Of La
8.5.6.4.1. Market size and forecast, by Product
8.5.6.4.2. Market size and forecast, by Device Type
8.5.6.4.3. Market size and forecast, by Application
8.5.6.4.4. Market size and forecast, by End User
8.6. Middle East and Africa
8.6.1. Key market trends, growth factors and opportunities
8.6.2. Market size and forecast, by Product
8.6.3. Market size and forecast, by Device Type
8.6.4. Market size and forecast, by Application
8.6.5. Market size and forecast, by End User
8.6.6. Market size and forecast, by country
8.6.6.1. Gcc
8.6.6.1.1. Market size and forecast, by Product
8.6.6.1.2. Market size and forecast, by Device Type
8.6.6.1.3. Market size and forecast, by Application
8.6.6.1.4. Market size and forecast, by End User
8.6.6.2. South Africa
8.6.6.2.1. Market size and forecast, by Product
8.6.6.2.2. Market size and forecast, by Device Type
8.6.6.2.3. Market size and forecast, by Application
8.6.6.2.4. Market size and forecast, by End User
8.6.6.3. North Africa
8.6.6.3.1. Market size and forecast, by Product
8.6.6.3.2. Market size and forecast, by Device Type
8.6.6.3.3. Market size and forecast, by Application
8.6.6.3.4. Market size and forecast, by End User
8.6.6.4. Rest Of Mea
8.6.6.4.1. Market size and forecast, by Product
8.6.6.4.2. Market size and forecast, by Device Type
8.6.6.4.3. Market size and forecast, by Application