In 2011, heart and other cardiovascular disorders were responsible for the deaths of 787 thousand people in the United States alone, as reported by the Heart Foundation. Moreover, according per International Diabetic Federation (IDF) over 415 million individuals suffering from diabetes in 2015. Because patients with heart failure and diabetics require bioelectronics devices in the form of glucose monitoring devices and artificial pacemakers, respectively, the market for bioelectronics product is projected to witness a major increase in demand during the forecast period. This is because glucose monitoring devices and artificial pacemakers are required for diabetic monitoring and control. This can be linked to an increase in the number of people who are currently afflicted with the diseases described above.Because of the vast number of potential applications in all of the different healthcare submarkets, the bioelectronics market was most heavily concentrated in North America. Because of factors such as the increasing prevalence of several serious diseases brought on by sedentary lifestyles, the presence of a large number of research and development facilities, and the increasing acceptability of refined and advanced products by healthcare professionals, clinicians, and patients, the market for Bioelectronics will see a significant growth momentum in this region. Asia Pacific is predicted to see a large growth due to improvement in healthcare infrastructure as well as quick economic growth throughout the course of the forecast year.
Major Players in the Bioelectronics Industry:
1. Abbott laboratories
Abbott laboratories, was founded in 1910 and its headquarter in Park, Illinois, United States. The company operates in 160 countries.
2. LifeSensors
LifeSensors founded in 1996, and it’s located in Malvern, Pennsylvania. The company operates in 110 countries.