World Electroceuticals/Bioelectric Medicine Sector to Post 7.9% CAGR to 2021, States M&M in In-demand Report Published at MarketPublishers.com08 Jul 2016 • by Natalie Aster
LONDON – The worldwide market for electroceuticals/bioelectric medicine is set to grow from USD 17.20 billion in 2016 to be worth USD 25.20 billion by 2021-end, registering 7.9% CAGR over the period.
With respect to products, implantable cardioverter defibrillators will likely account for the dominant share of the overall market by 2016-end. This can be attributed to an upsurge in cardiac arrest emergency causing cardiovascular death, technology advances in implantable cardioverter defibrillators, and the rise of arrhythmia.
Application-wise, hospitals are poised to grab the lion’s share of the electroceuticals/bioelectric medicine market by 2016 due to the rising burden of diseases like cardiac arrhythmias, Alzheimer’s, retinitis pigmentosa, Parkinson’s, depression and epilepsy; and also the growing awareness about electroceuticals.
The North America region is poised to capture the majority share of the world electroceuticals/bioelectric medicine market in 2016. This is due to the surging prevalence rate of arrhythmia, increasing prevalence rate of chronic illnesses, anticipated FDA approvals for retinal implants, growing burden of diabetes and cancer, expanding regulatory approvals across the USA, and an increase in hearing loss due to rising population ageing in Canada, amid others.
The market is characterised by fierce competition owing to the presence of a number of large and many small companies with similar ranges of products. Sonova Holding AG, Medtronic plc, St. Jude Medical, Inc., Biotronik, Cochlear Limited, LivaNova PLC, and ElectroCore LLC are some of the leading players in the industry.
In-demand report “Electroceuticals/Bioelectric Medicine Market” created by M&M offers an insightful investigation of the marketplace on a global level. It provides market segmentation based on product, device type, and by end-use sector. A geographical market analysis is also available. The study evaluates the market dynamics comprising market restraints, drivers, opportunities and major challenges. It explores the competitive situation and trends, alongside providing the top 10 players’ profiles including an assessment of their growth strategies. The report provides the company profiles of the top 10 players. The report canvasses R&D activities, cutting-edge technologies, and new product introductions in the industry; offers comprehensive information about lucrative emerging markets; provides detailed coverage of novel products, untapped regions, latest developments, and investments in the industry. Granular forecasts of the market development are also provided.
More research studies by M&M can be found at the publisher’s page.