Electroceuticals/Bioelectric Medicine Market - Global Forecast to 2021

The global electroceuticals/bioelectric medicine market is expected to reach USD 25.20 billion by 2021 from USD 17.20 billion in 2016, growing at a CAGR of 7.9% from 2016 to 2021.

Electroceuticals are medical devices that use electrical impulses to modulate the body's neural circuits as an alternative to drug-based interventions. These electroceutical devices read and modify electrical signals passing along the nerves of the body, including irregular or altered impulses that can occur in association with a broad range of diseases.

The implantable cardioverter defibrillators segment is expected to account for the largest share of the electroceuticals/bioelectric medicine market, by product, in 2016. Increasing sudden cardiac arrest (SCA) leading to cardiovascular death, technological advancements in ICDs, and increasing arrhythmia is contributing to the large share of this segment. The implantable electroceutical devices segment is expected to account for the largest share of the electroceuticals/bioelectric medicine market, by type of device, in 2016. The rising research in this industry and collaborations and partnerships to development electroceutical devices, these devices providing continuous treatment within the body, and providing an environment for the easy treatment of patients is driving growth in this market segment. The hospitals segment is estimated to account for the largest share of the electroceuticals/bioelectric medicine market, by end user, in 2016. This can be attributed to increasing burden of diseases such as cardiac arrhythmias, Parkinson’s, Alzheimer’s, retinitis pigmentosa, epilepsy, and depression; and increasing awareness about electroceuticals.

North America is expected to account for the largest share of the global electroceuticals/bioelectric medicine market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American region can be attributed to the rising prevalence of arrhythmia, growing prevalence of chronic diseases, expected approvals for retinal implants, increasing regulatory approvals in the U.S., increasing burden of cancer and diabetes, and increase in hearing loss owing to rising aging population in Canada, among others. The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the rising adoption of neurostimulation, increasing cases of diabetes, increasing prevalence of hearing loss, increasing geriatric population, conferences on electroceutical devices, increasing prevalence of Parkinson’s Disease, and regulatory approvals of cochlear implants in the Asia-Pacific region.

The electroceuticals/bioelectric medicine market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (product launches, approvals, new product launches, agreements/collaborations/joint ventures/partnerships, marketing and promotion activities, acquisitions and mergers, expansions, market developments, new program launches, and product enhancements) to increase their market shares and establish a stronger foothold in the global market.

Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), Boston Scientific Corporation (U.S.), Cochlear Limited (Australia), Sonova Holding AG (Switzerland), LivaNova PLC (U.K.), Biotronik (Germany), Nevro Corporation (U.S.), Second Sight Medical Products, Inc. (U.S.), and ElectroCore LLC (U.S.) are the key players in the global electroceuticals/bioelectric medicine market.


Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them garner a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares. The report provides insights on the following pointers:
‧ Market Penetration: Comprehensive information on the product portfolios of the top players in the medical animation market. The report analyzes the market based on product, type of device, application, and end user
‧ Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the electroceuticals/bioelectric medicine market
‧ Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various electroceuticals/bioelectric medicines across regions
‧ Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the electroceuticals/bioelectric medicine market
Competitive Assessment: In-depth assessment of strategies, products, distribution networks, and manufacturing capabilities of the leading players in the electroceuticals/bioelectric medicine market

TABLE OF CONTENTS

1 INTRODUCTION 20
1.1 OBJECTIVES OF STUDY 20
1.2 MARKET DEFINITION 20
1.3 MARKET SCOPE 20
1.3.1 MARKETS COVERED 21
1.3.2 YEARS CONSIDERED FOR THE STUDY 21
1.4 CURRENCY 22
1.5 LIMITATIONS 22
1.6 STAKEHOLDERS 22
2 RESEARCH METHODOLOGY 23
2.1 RESEARCH METHODOLOGY STEPS 23
2.2 SECONDARY AND PRIMARY RESEARCH METHODOLOGY 24
2.2.1 SECONDARY RESEARCH 24
2.2.2 PRIMARY RESEARCH 25
2.2.3 KEY INDUSTRY INSIGHTS 26
2.3 KEY DATA FROM PRIMARY SOURCES 27
2.4 KEY INSIGHTS FROM PRIMARY SOURCES 27
2.5 MARKET SIZE ESTIMATION METHODOLOGY 28
2.6 RESEARCH DESIGN 32
2.7 MARKET DATA VALIDATION AND TRIANGULATION 33
2.8 ASSUMPTIONS FOR THE STUDY 34
3 EXECUTIVE SUMMARY 35
3.1 INTRODUCTION 35
3.2 CURRENT SCENARIO 36
3.3 FUTURE OUTLOOK 37
4 PREMIUM INSIGHTS 40
4.1 GLOBAL ELECTROCEUTICALS MARKET 40
4.2 GLOBAL ELECTROCEUTICALS MARKET, BY PRODUCT 41
4.3 GLOBAL ELECTROCEUTICALS MARKET, BY REGION AND DEEP BRAIN STIMULATION APPLICATIONS 42
4.4 GLOBAL ELECTROCEUTICALS MARKET, BY REGION 43
4.5 GLOBAL ELECTROCEUTICALS MARKET, BY END USER (2016 VS. 2021) 44
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5 MARKET OVERVIEW 45
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
5.2.1 DRIVERS 47
5.2.1.1 Rising geriatric population 47
5.2.1.2 Regulatory approval for new and advanced electroceuticals 47
5.2.1.3 Growing investments and funds for the development of novel therapies and electroceuticals 48
5.2.1.4 Rising prevalence of neurological disorders 49
5.2.1.5 Growing prevalence of hearing loss 49
5.2.2 RESTRAINTS 50
5.2.2.1 Lack of skilled professionals 50
5.2.2.2 High cost of cochlear implants 51
5.2.3 OPPORTUNITIES 51
5.2.3.1 Growth potential offered by emerging countries 51
5.2.3.2 Strong product pipeline 52
5.2.4 CHALLENGES 52
5.2.4.1 Unfavorable reimbursement scenario 52
6 GLOBAL ELECTROCEUTICALS MARKET, BY PRODUCT 54
6.1 INTRODUCTION 55
6.2 IMPLANTABLE CARDIOVERTER DEFIBRILLATORS 58
6.3 CARDIAC PACEMAKERS 59
6.4 SPINAL CORD STIMULATORS 61
6.5 COCHLEAR IMPLANTS 63
6.6 DEEP BRAIN STIMULATORS 64
6.7 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATORS 66
6.8 VAGUS NERVE STIMULATORS 67
6.9 SACRAL NERVE STIMULATORS 69
6.10 RETINAL IMPLANTS 70
6.11 OTHER ELECTRICAL STIMULATORS 72
7 GLOBAL ELECTROCEUTICALS MARKET, BY TYPE OF DEVICE 74
7.1 INTRODUCTION 75
7.2 IMPLANTABLE ELECTROCEUTICAL DEVICES 77
7.3 NON-INVASIVE ELECTROCEUTICAL DEVICES 78
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8 GLOBAL ELECTROCEUTICALS MARKET, BY APPLICATION 80
8.1 INTRODUCTION 81
8.2 CARDIAC PACEMAKERS AND IMPLANTABLE CARDIOVERTER DEFIBRILLATORS MARKET, BY APPLICATION 82
8.2.1 ARRHYTHMIA 82
8.3 SPINAL CORD STIMULATORS (SCS) MARKET, BY APPLICATION 83
8.3.1 CHRONIC PAIN 83
8.3.2 FAILED BACK SYNDROME (FBSS) 85
8.3.3 ISCHEMIA 86
8.4 COCHLEAR IMPLANTS MARKET, BY APPLICATION 88
8.4.1 SENSORINEURAL HEARING LOSS 88
8.5 DEEP BRAIN STIMULATORS (DBS) MARKET, BY APPLICATION 88
8.5.1 PARKINSON’S DISEASE 89
8.5.2 TREMOR 90
8.5.3 DEPRESSION 92
8.5.4 OTHER DEEP BRAIN STIMULATION APPLICATIONS 93
8.6 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATORS (TENS) MARKET, BY APPLICATION 95
8.6.1 TREATMENT-RESISTANT DEPRESSION 96
8.6.2 OTHER TRANSCUTANEOUS ELECTRICAL STIMULATION APPLICATIONS 97
8.7 VAGUS NERVE STIMULATORS MARKET (VNS), BY APPLICATION 99
8.7.1 EPILEPSY 99
8.7.2 OTHER VAGUS NERVE STIMULATION APPLICATIONS 101
8.8 SACRAL NERVE STIMULATORS (SNS) MARKET, BY APPLICATION 102
8.8.1 URINARY INCONTINENCE 103
8.8.2 FECAL INCONTINENCE 104
8.9 RETINAL IMPLANTS MARKET, BY APPLICATION 106
8.9.1 RETINITIS PIGMENTOSA 106
8.10 OTHER ELECTRICAL STIMULATORS MARKET, BY APPLICATION 106
8.10.1 GASTROPARESIS 107
8.10.2 OBESITY 108
8.10.3 DEPRESSION 110
8.10.4 MIGRAINE 111
8.10.5 SPINAL CORD INJURY 113
9 GLOBAL ELECTROCEUTICALS MARKET, BY END USER 115
9.1 INTRODUCTION 116
9.2 HOSPITALS 118
9.3 RESEARCH INSTITUTES 119
9.4 INDIVIDUAL USERS 121
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10 GLOBAL ELECTROCEUTICALS MARKET, BY REGION 123
10.1 INTRODUCTION 124
10.2 NORTH AMERICA 126
10.2.1 U.S. 132
10.2.1.1 Rising prevalence of arrhythmia in the U.S. 132
10.2.1.2 Rising prevalence of chronic diseases in the U.S. 132
10.2.1.3 High prevalence of hearing loss in the U.S. 132
10.2.1.4 Rising incidence of RP driving the demand for retinal implants 133
10.2.1.5 Conferences & annual meetings 133
10.2.1.6 Increasing regulatory approvals in the U.S. 133
10.2.2 CANADA 138
10.2.2.1 Growing burden of cancer and diabetes in Canada 138
10.2.2.2 Increase in hearing loss, owing to rising aging population 138
10.3 EUROPE 143
10.3.1 RAPIDLY AGING POPULATION IN EUROPE 144
10.3.2 CONFERENCES & ANNUAL MEETINGS 144
10.3.3 GOVERNMENT SUPPORT FOR HEARING IMPLANTS 145
10.3.4 RISING PREVALENCE OF NEUROLOGICAL DISEASES IN GERMANY AND FRANCE 145
10.3.5 RISING PREVALENCE OF DIABETES IN THE U.K. AND REST OF EUROPE 145
10.3.6 INCREASING REGULATORY APPROVALS IN EUROPE 146
10.4 ASIA-PACIFIC 150
10.4.1 RISING AGING POPULATION DRIVING INCREASE IN DISEASE INCIDENCE IN JAPAN 151
10.4.2 INCREASING PREVALENCE OF DIABETES AND RAPIDLY AGING POPULATION IN CHINA 151
10.4.3 INCREASING PREVALENCE OF HEARING LOSS IN ASIA-PACIFIC REGION 151
10.4.4 INCREASING GERIATRIC POPULATION & HIGH DIABETES PREVALENCE IN INDIA 152
10.4.5 CONFERENCES ON ELECTROCEUTICAL DEVICES IN APAC 152
10.4.6 INCREASING PREVALENCE OF PARKINSON’S DISEASE IN SINGAPORE 153
10.5 REST OF WORLD 157
10.5.1 RISE IN AGING POPULATION & PREVALENCE OF DIABETES IN THE MIDDLE EAST AND AFRICA 158
10.5.2 CONFERENCES ON ELECTROCEUTICAL DEVICES IN LATIN AMERICA AND AFRICA 158
10.5.3 GROWING CASES OF CANCER IN LATIN AMERICA 158
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11 COMPETITIVE LANDSCAPE 163
11.1 OVERVIEW 163
11.2 COMPETITIVE SITUATION AND TRENDS 163
11.2.1 INTRODUCTION 164
11.2.2 PRODUCT LAUNCHES 165
11.2.3 APPROVALS 166
11.2.4 NEW PRODUCT LAUNCHES 167
11.2.5 AGREEMENTS, COLLABORATIONS, JOINT VENTURES, AND PARTNERSHIPS 168
11.2.6 MARKETING AND PROMOTION ACTIVITIES 169
11.2.7 ACQUISITIONS AND MERGERS 170
11.2.8 EXPANSIONS 171
11.2.9 OTHER STRATEGIES 171
11.3 GLOBAL ELECTROCEUTICALS MARKET: EMPIRICAL ASSESSMENT OF GROWTH STRATEGIES 172
11.3.1 ROUTE TO STRATEGIC GROWTH: ORGANIC AND INORGANIC GROWTH STRATEGIES 172
11.3.2 ORGANIC GROWTH STRATEGIES 173
11.3.3 INORGANIC GROWTH STRATEGIES 174
12 COMPANY PROFILES 175
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View)*
12.1 INTRODUCTION 175
12.2 MEDTRONIC PLC 176
12.3 ST. JUDE MEDICAL, INC. 180
12.4 BOSTON SCIENTIFIC CORPORATION 183
12.5 COCHLEAR LIMITED 186
12.6 SONOVA HOLDING AG 188
12.7 LIVANOVA PLC 190
12.8 BIOTRONIK 194
12.9 NEVRO CORP. 196
12.10 SECOND SIGHT MEDICAL PRODUCTS, INC. 198
12.11 ELECTROCORE LLC 200

*Details on MarketsandMarkets view, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments might not be captured in case of unlisted companies.
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13 APPENDIX 201
13.1 DISCUSSION GUIDE 201
13.2 COMPANY DEVELOPMENTS (2013-2016) 206
13.2.1 MEDTRONIC PLC 206
13.2.2 ST. JUDE MEDICAL, INC. 207
13.2.3 BOSTON SCIENTIFIC CORPORATION 209
13.2.4 COCHLEAR LIMITED 211
13.2.5 LIVANOVA PLC 211
13.2.6 BIOTRONIK 212
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 214
13.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 216
13.5 AVAILABLE CUSTOMIZATIONS 217
13.7 RELATED REPORTS 218