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Electroceuticals: Technologies and Global Markets

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    Report

  • 117 Pages
  • June 2022
  • Region: Global
  • BCC Research
  • ID: 4856641

Report Scope



This report highlights the current and future market potential for electroceuticals. It provides a detailed analysis of the competitive environment, regulatory scenario, and the drivers, restraints, opportunities, and trends in the market. The report also offers market projections through 2027.

This report covers the overall electroceuticals market, including cardiac pacemakers, implantable cardiac defibrillators, hearing aids and implants, and neurostimulation devices. The report also analyzes various end users of electroceuticals.

For this report, the market has been segmented into North America, Europe, Asia-Pacific and the Rest of the World (RoW), which includes Latin America, the Middle East and Africa). Major countries, including the U.S., Canada, Germany, the U.K., France, Spain, Italy, Japan, China and India) are analyzed. Market data was provided for 2020, which served as the base year, and forecasts are estimated through 2027. Estimated values are based on product manufacturers' total revenues. Projected and forecast revenue values are in constant U.S. dollars that have not been adjusted for inflation.

Report Includes

  • 19 data tables and 24 additional tables
  • An overview of global markets and technologies for electroceuticals
  • Analyses of global market trends, with data from 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
  • Discussion on how electroceuticals are used as an alternative to drug-based remedies and analyses of endogenous and exogenous factors that are impacting the global market growth
  • Coverage of several diseases such as epilepsy, cardiovascular diseases, rheumatoid arthritis and diabetes and their treatment using electroceuticals
  • Information on RecoveryRx medical device, which is used for the treatment of postoperative pain of opioid/NSAID therapy
  • Coverage of regulatory landscape, product recalls, pipeline products, and discussion on future perspective, strategies, and developments of the industry
  • Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market trends, market size, and forecast
  • Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies and a relevant patent analysis
  • Company profiles of major players Abbott Laboratories, Boston Scientific, GlaxoSmithKline plc, Medtronic plc, Edwards Lifesciences Corp.
Frequently Asked Questions about the Global Electroceuticals Market

What is the estimated value of the Global Electroceuticals Market?

The Global Electroceuticals Market was estimated to be valued at $25.5 Billion in 2022.

What is the growth rate of the Global Electroceuticals Market?

The growth rate of the Global Electroceuticals Market is 6.8%, with an estimated value of $35.5 Billion by 2027.

What is the forecasted size of the Global Electroceuticals Market?

The Global Electroceuticals Market is estimated to be worth $35.5 Billion by 2027.

Who are the key companies in the Global Electroceuticals Market?

Key companies in the Global Electroceuticals Market include Abbott Laboratories, Axonics Modulation Technologies Inc., Bioventus LLC, Biotronik Se & Co. Kg, Boston Scientific Corp., Cochlear Americas, Cook Medical, Edwards Lifesciences Corp. and Lepu Medical Technology (Beijing) Co. Ltd..

Table of Contents

Chapter 1 Introduction
  • Study Goals and Objectives
  • Reasons for Doing this Study
  • What's New in this Update?
  • Scope of Report
  • Information Sources
  • Methodology
  • Geographic Breakdown
  • Analyst's Credentials
  • Custom Research
  • Related Research Reports
Chapter 2 Executive Summary
Chapter 3 Overview
  • Introduction
  • Neurostimulation
  • Cardioverter Defibrillators and Cardiac Pacemakers
  • Public Access Defibrillators
  • Battery Technology for Implantable Cardiac Defibrillators
  • Regulatory Framework
  • United States
  • European Union
  • Japan
Chapter 4 Market Dynamics
  • Market Drivers
  • Increasing Incidence of Cvd, Neurology and Ent Disorders
  • Aging Population
  • Increasing Healthcare Expenditures
  • Focus on Non-Drug Therapies and Reducing Opioid Usage
  • Technology Innovations and New Product Developments
  • Market Restraints and Challenges
  • High Cost of Neurostimulation Procedures/Devices and Lack of Trained Healthcare Professionals
  • Inconsistent Reimbursement Policies
Chapter 5 Impact of Covid-19 Pandemic
  • Introduction
  • Impact on Neurostimulation Market
  • Impact on Market for Ent Devices
Chapter 6 Global Market for Electroceuticals by Product
  • Cardioverter Defibrillators and Cardiac Pacemakers
  • Neurostimulation
  • Spinal Cord Stimulation
  • Deep Brain Stimulation
  • Vagus Nerve Stimulation
  • Sacral Nerve Stimulation
  • Transcutaneous Electrical Nerve Stimulation
  • Other Stimulators
  • Hearing Aids and Implants
  • Hearing Aid Devices
  • Behind the Ear
  • Completely in the Canal
  • In the Ear
  • Hearing Implants
  • Cochlear Implants
  • Bone Anchored Hearing Implants
  • Middle Ear Implants
Chapter 7 Global Market for Electroceuticals by End-user
  • Hospitals and Clinics
  • Homecare and Others
Chapter 8 Global Market for Electroceuticals by Region
  • North America
  • U.S.
  • Europe
  • Asia-Pacific
  • Japan
  • China
  • India
  • Rest of the World
Chapter 9 Patent Review
  • Introduction
  • Patents on Hearing Aids and Implants
  • Neurostimulation
  • Cardiac
Chapter 10 Competitive Landscape
  • Leading Companies in the Market for Neurostimulation Products
  • Spinal Cord Stimulation Devices
  • Deep Brain Stimulation Devices
  • Market for Hearing Aids and Implants by Company
  • Key Developments
Chapter 11 Company Profiles
  • Abbott Laboratories
  • Axonics Modulation Technologies Inc.
  • Bioventus LLC
  • Biotronik Se & Co. Kg
  • Boston Scientific Corp.
  • Cochlear Americas
  • Cook Medical
  • Edwards Lifesciences Corp.
  • GlaxoSmithKline plc
  • Lepu Medical Technology (Beijing) Co. Ltd.
  • Livanova plc
  • Medico S.P.A.
  • Medtronic plc
  • Microport Scientific Corp.
  • Stryker Corp.
  • Zoll Medical Corp.
Chapter 12 Appendix: Acronyms
List of Tables
Summary Table A: Global Market for Electroceuticals, by Product, Through 2027
Table 1: Regulatory Approval: U.S. vs. Europe
Table 2: U.S. FDA Product Classification: Defibrillators
Table 3: U.S. FDA Pacemaker Product Classification
Table 4: U.S. FDA Neurostimulator Product Classification, 2019
Table 5: U.S. FDA Cochlear Implant Product Classification
Table 6: Global Incidence of All Stroke Types, 2019
Table 7: Global Prevalence of Congestive Heart Failure and Stroke, Through 2030
Table 8: Number of Disability-adjusted Life Years (DALYs)for Neurological Disorders and Share of Global DALYs Projected for 2005 and 2030
Table 9: Deaths Attributable to Neurological Disorders, 2005 and 2030
Table 10: World Population, Age 60 and Older, 2000-2050
Table 11: Global Market for Electroceuticals, by Product, 2020-2027
Table 12: Global Market for Cardioverter Defibrillators and Cardiac Pacemakers, by Region, Through 2027
Table 13: Global Market for Spinal Cord Stimulators, by Region, Through 2027
Table 14: Global Market for Deep Brain Stimulators, by Region, Through 2027
Table 15: Global Market for Vagus Nerve Stimulators, by Region, Through 2027
Table 16: Global Market for Other Stimulators, by Region, Through 2027
Table 17: Global Market for Hearing Aids and Implants, by Region, Through 2027
Table 18: Global Market for Electroceuticals, by End User, 2020-2027
Table 19: Global Market for Hospitals and Clinics, by Region, Through 2027
Table 20: Hospitals with Notable Services
Table 21: Global Market for Homecare and Others, by Region, Through 2027
Table 22: Global Market for Electroceuticals, by Region, 2020-2027
Table 23: North American Market for Electroceuticals, by Country, Through 2027
Table 24: Funding by Federal Government for Treatment of Chronic Diseases
Table 25: European Market for Electroceuticals, by Country, Through 2027
Table 26: Asia-Pacific Market for Electroceuticals, by Country, Through 2027
Table 27: China’s Medical Device Regulations
Table 28: Out-of-Pocket Health Expenditures in Argentina, 2015-2019
Table 29: Analysis of Patents Related to Electroceuticals
Table 30: Number of Patents Related to Neurostimulation, by Patent Holder, January 2020 to May 2022
Table 31: Number of Patents Related to Cardiac Stimulation, by Patent Holder, January 2020 to May 2022
Table 32: Global Market Shares of Spinal Cord Stimulation Devices, by Company, 2020
Table 33: Global Market Shares of Deep Brain Stimulation Devices, by Company, 2020
Table 34: Abbott: Product Portfolio
Table 35: Bioness: Product Information
Table 36: Product Portfolio
Table 37: Medico S.p.A.: Main Products
Table 38: Medico S.p.A.: Recent Developments
Table 39: Medtronic: Product Portfolio
Table 40: MicroPort Scientific Corp.: Product Portfolio
Table 41: Zoll Medical Corp.: Product Portfolio
Table 42: Acronyms Used in This Report
List of Figures
Summary Figure A: Global Market for Electroceuticals, 2020-2027
Figure 1: Global Deaths from CVD, 2015 and 2030
Figure 2: Global Prevalence of Congestive Heart Failure and Stroke, 2004-2030
Figure 3: Global Market for Electroceuticals, by Product, 2020-2027
Figure 4: Pacemakers
Figure 5: Global Market for Electroceuticals, by End User, 2020-2027
Figure 6: Number of Hospitals in the U.S., by Type, 2020
Figure 7: Healthcare Expenditures in the U.S., 2015 and 2025
Figure 8: Trends in Healthcare Spending, by Institution, 2015-2040
Figure 9: North American Market Shares of Electroceuticals, by Country, 2021
Figure 10: European Market Shares of Electroceuticals, by Country, 2021
Figure 11: Asia-Pacific Market Shares of Electroceuticals, by Country, 2021
Figure 12: Out-of-Pocket Health Expenditures in Argentina, 2015-2019
Figure 13: Percentage of Patents on Hearing Aids and Implants, by Country, January 2020 to May 2022
Figure 14: Percentage of Patents on Hearing Aids and Implants, by Patent Holder, January 2020 to May 2022
Figure 15: Percentage of Patents Related to Neurostimulation, by Country, January 2020 to May 2022
Figure 16: Global Market Shares of Spinal Cord Stimulation Devices, by Company, 2020
Figure 17: Global Market Shares of Deep Brain Stimulation Devices, by Company, 2020
Figure 18: Global Market Shares of Hearing Aids and Implants, by Company, 2020
Figure 19: Global Market Shares of Hearing Aids and Implants, by Company, 2020
Figure 20: Abbott: Annual Revenue, 2018-2021
Figure 21: Abbott: Vascular Business Annual Revenue, 2018-2021
Figure 22: Abbott: Revenue Share, by Country, 2021
Figure 23: Boston Scientific: Annual Revenue, 2018-2021
Figure 24: Boston Scientific: Revenue Share, by Business, 2021
Figure 25: Boston Scientific: Revenue Share, by Region, 2021
Figure 26: GlaxoSmithKline plc: Annual Revenue, 2018-2020
Figure 27: GlaxoSmithKline plc: Revenue Share, by Business Segment, 2020
Figure 28: Medtronic: Annual Revenue, 2018-2021
Figure 29: Medtronic Coronary & Peripheral Vascular Segment: Annual Revenue, 2019-2021
Figure 30: Medtronic: Revenue Share, by Region, 2021

Executive Summary

Electroceuticals are medical devices that are used to restore health in patients. Patients can hold these devices against the skin, or they can be implanted. These devices, also known as bioelectric medicine, represent an alternative to drug-based remedies. They are usually not the first line of treatment, and tend to be used only when health cannot be restored with drugs. Most electroceuticals do not cure conditions, but can reduce pain and avoid affected parts of the body. Electroceuticals function through neurostimulation and modulation of the nervous system through electrical impulses. Electroceutical devices are used to treat several ailments and disorders related to neurology and cardiology through invasive and non-invasive methods.

The human nervous system works as the commander of the human body, and, as such, plays a major role in treating disorders of the body. Neurostimulation technology involves the alteration or modulation of nerves. Neurostimulation devices directly deliver electrical current or magnetic impulses to nerves to modify their activities.

Over the last 30 years, neurostimulation has emerged as one of the most dynamic and exciting therapy fields, and has been investigated for the treatment of a range of clinical conditions, including chronic pain, movement disorders (Parkinson's disease, tremor, dystonia and others), epilepsy (which affects 50 million people worldwide), functional restoration, and psychiatric, cardiovascular, gastrointestinal and genitourinary disorders. The potential of neurostimulation technology is being explored in several other clinical conditions, including obesity, tinnitus and central nervous system disorders.

Companies Mentioned

  • Abbott Laboratories
  • Axonics Modulation Technologies Inc.
  • Bioventus LLC
  • Biotronik Se & Co. Kg
  • Boston Scientific Corp.
  • Cochlear Americas
  • Cook Medical
  • Edwards Lifesciences Corp.
  • GlaxoSmithKline plc
  • Lepu Medical Technology (Beijing) Co. Ltd.
  • Livanova plc
  • Medico S.P.A.
  • Medtronic plc
  • Microport Scientific Corp.
  • Stryker Corp.
  • Zoll Medical Corp.