The Business Research Company’s report on the Electroceuticals Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the electroceuticals market further?
The high prevalence of chronic diseases is expected to propel the growth of the electroceuticals market going forward. Chronic disease refers to a health condition or illness that is persistent or long-lasting in its effects, usually lasting for three months or longer, and may get worse over time. Electroceuticals provide effective disease management and symptom relief and offer personalized, minimally invasive neuromodulation and functional restoration approaches, providing long-term solutions and potential uses in addressing treatment resistance. For instance, in January 2023, according to the National Library of Medicine, a US-based agency, the number of people in the US aged 50 and older who have at least one chronic condition would increase by 99.5% to 142.66 million by 2050. Therefore, the high prevalence of chronic diseases drives the electroceuticals market.
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What are the key factors influencing the forecasted market size of the electroceuticals industry?
The electroceuticals market size has grown strongly in recent years. It will grow from $22.76 billion in 2024 to $24.19 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rise in chronic diseases, investment in research and development, aging population, advancements in nanotechnology, improved understanding of neural pathways
The electroceuticals market size is expected to see strong growth in the next few years. It will grow to $33.49 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to advancements in bioelectronics, precision medicine development, growth in non-invasive therapies, focus on chronic pain management, rising neurological disorders. Major trends in the forecast period include implantable bioelectronic devices, wireless and remote-controlled devices, personalized electroceutical therapies, advancements in neural modulation techniques, bioelectronic devices for metabolic disorders.
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Who are the leading competitors in the electroceuticals market?
Major companies operating in the electroceuticals market include Medtronic Public Limited Company, Boston Scientific Corporation, Sonova Holding AG, Biotronik SE & Co. KG, Cochlear Limited, LivaNova PLC, MicroPort Scientific Corporation Limited, MED-EL Elektromedizinische Geräte GmbH, Nevro Corporation, Axonics Modulation Technologies Inc., Oticon Medical, Neuronetics Inc., Nuvectra Corporation, NeuroPace Inc., Second Sight Medical Products Inc, Saluda Medical Pty. Ltd., Stimwave Technologies Incorporated, electroCore Inc., Synapse Biomedical Inc., Soterix Medical Inc., Retina Implant AG, MicroTransponder Inc., Vomaris Innovations Inc., SPR Therapeutics Inc., NeuroSigma Inc., Nexeon MedSystems Inc., BioElectronics Corporation, Setpoint Medical Corporation, Endonovo Therapeutics Inc.
Which emerging trends are set to transform the electroceuticals market landscape?
Major companies operating in the electroceuticals markets are focusing on developing innovative products such as OTC bioelectric bandages for speedier healing to accelerate healing and enhance patient care. An OTC bioelectric bandage is a specialized wound care product designed to promote faster healing using bioelectric technology. For instance, in April 2024, Vomaris Medical, a U.S.-based company that focuses on developing innovative medical devices and technologies, launched Powerheal bioelectric bandages for over-the-counter to accelerate healing and reduce infection risks for superficial wounds such as minor cuts, scrapes, and blisters. PowerHeal bioelectric bandages revolutionize wound care by accelerating healing up to 2-3 times faster than traditional methods. They effectively eliminate up to 99.99% of bacteria, including antibiotic-resistant strains, reducing infection risks without relying on antibiotics. Additionally, these bandages maintain an optimal moist environment, promoting healing while minimizing pain and scarring.
How do different geographies compare in terms of market share and growth potential in the electroceuticals market?
North America was the largest region in the electroceuticals market in 2024. The regions covered in the electroceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the electroceuticals market are experiencing the fastest growth?
The electroceuticals market covered in this report is segmented –
1) By Type: Implantable Electroceutical Devices, Non-Invasive Electroceutical Devices
2) 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, Other Products
3) By Application: Arrhythmia, Depression, Parkinson’s Disease, Tremor, Epilepsy, Sensorineural Hearing Loss, Other Applications
4) By End-User: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End Users
Subsegments:
1) By Implantable Electroceutical Devices: Neurostimulators, Cardiac Pacemakers, Cochlear Implants, Implantable Cardioverter Defibrillators (ICDs)
2) By Non-Invasive Electroceutical Devices: Transcutaneous Electrical Nerve Stimulation (TENS) Units, Electrotherapy Devices, Neuromodulation Devices, External Defibrillators
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How is the electroceuticals market defined, and what are its core characteristics?
Electroceuticals refers to a medical science and technology field involving using electrical stimulation to modulate and interact with the body’s neural circuits and bioelectrical systems for therapeutic purposes. It combines electronics, biology, and medical elements to develop devices and therapies targeting specific nerves, tissues, or organs to treat various medical conditions.
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