Electroceutical Devices Market, by Product Type (Cardiac Pacemakers, Implantable Cardioverter Defibrillators, Cardiac Resynchronization Therapy Devices, Retinal Implants, Cochlear Implants, Spinal cord Stimulators, Deep brain Stimulators, Sacral Neuromodulators and Others), by Modality (Implantable Electroceutical Devices and Non-Invasive Electroceutical Devices), by Application (Chronic Pain, Cardiovascular Diseases, Ophthalmic Diseases, Neurological Diseases, Hearing Disorders and Gastrointestinal Diseases), By End User (Hospitals, Ambulatory Surgical Centers and Others) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

  • Published On : Jul 2018 |
  • Pages : 192 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Electroceutical Devices Market – Global Industry Insights

Electroceuticals is recently coined term for an old therapeutic modality, which broadly encompass all the bioelectric medicine. It includes any type of electrical stimulation, which affects and modify functions of the body and neural implants such as cochlear implants, retinal implants or spinal cord stimulators, cardiac pacemakers, and implantable defibrillators. Over a period of time, electroceutical expanded their applicability to include deep brain stimulation and the electrical stimulation of the vagus nerve. Electroceuticals are also called as bioelectronics, which encompass tiny electronic implants, which are capable to treat wide range of chronic diseases such as chronic pain, heart ailments, ophthalmic disease, neurological diseases, hearing disorders and gastrointestinal diseases.

Bioelectric medicine is an innovative approach to diagnose and treat injuries and diseases, as all major organs of the body are connected to the nerves, which allows the brain to monitor and regulate the functions of the organs. Bioelectric medicine refers to the usage of a device to modulate and read the electrical activity within the body’s nervous systems. Nerve blocking devices or nerve stimulating devices that are held against the skin or implanted on a nerve have the potential to regulate specific nerve activity, make specific changes in organ function, and also restore health without side effects of pharmaceutical agents. Bioelectric medicine technology is used to record, block, and stimulate neural signals, which can be used to the change the way diseases and injuries are treated. Biogenetic medicine are also used for the treatment of conditions such as cancer, paralysis, rheumatoid arthritis, and diabetes.

The global electroceutical devices market size was valued at US$ 16,141.8 Mn in 2017, and is expected to witness a CAGR of 6.8% over the forecast period (2018 – 2026).

Global Electroceutical Devices Market Share, By Modality: 2018 & 2026

Electroceutical Devices  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2018)

Increasing Engagement of Key Players to Accelerate Drug Discovery and Development Process is expected to Aid in the Market Growth

Collaborations, advancements in technology, innovations in the field of bioelectric medicines such as non-invasive devices are the major factors driving growth of the bioelectric medicine market. For instance, in October 2016, the U.S. National Institutes of Health (NIH) announced US$ 20 million funding for the treatment of disease with electrical stimulation, which aims to improve maps of the peripheral nervous system—the body’s electrical wiring—and generate sophisticated systems that can hack into its codes. Moreover, the funding is part of a US$ 248 million, seven-year program, which the NIH Common Fund announced in 2014.

Furthermore, in 2016, GlaxoSmithKline Plc. (GSK) merged with Google’s parent company Alphabet to set up a new bioelectric company called Galvani Bioelectronics, which will benefit over 2 billion people suffering from chronic diseases. GSK invested around US$ 615 million for the development of Galvani Bioelectronics.

High Prevalence of Chronic Diseases among Global Population is Propelling Demand for Electroceutical Devices    

Other factors boosting growth of the bioelectric medicine market include increasing number of diseases in geriatric population such as cardiac arrhythmias, Parkinson’s disease, Alzheimer’s disease, epilepsy, and depression, and rise in chronic diseases such as neurological and cardiac disorders. For instance, according to a study conducted by Journal of Family Medicine and Primary Care in 2017, four major chronic diseases including cancer, cardiovascular disease, diabetes, and chronic respiratory diseases were the major cause for 82% deaths in India. According to a study conducted by World Health Organization (WHO), in 2017, non-communicable diseases are expected to contribute to death of 52 million people by 2030 globally.

According to the Data published in Current Pharmaceutical Design Journal in 2017, ion channel and neurotransmitter modulators can act as electroceutical approaches to control the cancer. Furthermore, in March 2014, Cancer-Code Corporation (C3) announced issuance of patent which entitles: Method and System for Processing Cancer Cell Electrical Signals for Medical Therapy, which covers an innovative approach to eradicate cancer in humans and animals. Moreover, high prevalence of cancer and increasing awareness regarding early detection and treatment of cancer is further expected to drive growth of the global electroceutical devices market. For instance, in 2012, according to American Cancer Society data findings, North America accounted for high incidence rate of cancer in children as compared to any other region worldwide.  Moreover, according to the same source, in 2012, North America accounted for 13.1% of total estimated cases of cancer worldwide.


Global Electroceutical Devices Market Share, By Application: 2018 & 2026

Electroceutical Devices  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2018)

Furthermore, increasing incidence of diabetes mellitus worldwide is expected to drive growth of the market. For instance, according to the World Health Organization (WHO), 2016, an estimated 422 million adults are suffering from diabetes. The major spike in incidence of type 2 diabetes over the last decade (2006-2016) is mainly attributed to high prevalence of obesity.

Moreover, electrical stimulation and electroceutical treatment effectively restores injury, expediting normal healing and reducing chronic inflammation, biofilms, infection and associated symptoms, such as pain and high exudate. Electroceutical therapy for wound management uses a small, targeted, electrical current to create a physiological change that recompense the impaired biological functions in the wound, starting the healing process in the wound. Synapse electroceutical Ltd.: a medical technology company from U.K. offers AccelHeal: a small disposable class IIa portable medical device. Accel-Heal uses the patented Synapse Sequence programmed technology to promote healing in leg ulcers through the use of electroceutical energy.

Moreover, high prevalence of wound and ulcers among the global population is expected to augment growth of the electroceutical devices market. For instance, according to National Pressure Ulcer Advisory Panel, 2017 data findings, 2.5 million patients develop pressure ulcer annually, in U.S. Furthermore, pressure ulcer shows national incidence rate of 2.5% in hospitals.      

Key players operating in electroceutical devices market include Medtronic plc, Abbott Laboratories, Cochlear Ltd. Sonova Holding AG, Advanced Bionics AG, Boston Scientific Corporation, electroCore, Inc., Biotronik, ReShape Lifesciences, Inc., and LivaNova, PLC.

Electroceuticals are the new category of therapeutic agents which act by targeting the neural circuits of organs. Moreover, electroceuticals involves mapping of neural circuitry and delivering neural impulses to the specific targets. This impulse is administered via an implantable device. In cardiology besides pacemaker, defibrillation and resynchronization applications; Electroceuticals used in heart failure, atrial fibrillation, coronary artery disease, myocarditis, resistant hypertension, atrial and ventricular tachyarrhythmias, pulseless electrical activity, and refractory angina.

Market Dynamics

Electroceutical devices market is expected to witness lucrative growth opportunities during forecast period owing to the advancements in electroceutical technology, strategic collaboration, mergers and acquisitions among key players in these market. Furthermore, other potential factors contributing to the growth of electroceutical devices market include rising number of disease among geriatric population such as cardiac arrhythmias, Parkinson’s disease, Alzheimer’s disease, epilepsy, and depression, and increases in chronic diseases such as neurological, and cardiac disorders. For instance, according to the American College of Cardiology, cardiovascular disease represents great burden for the elderly population, their caregivers and the health system.

Key features of the study:

  • This report provides in-depth analysis of electroceutical devices in medical sector and provides market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2018 – 2026), considering 2017 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global electroceutical devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
  • Key companies covered as a part of this study include Medtronic plc, Abbott Laboratories, Cochlear Ltd. Sonova Holding AG, Advanced Bionics AG, Boston Scientific Corporation, electroCore, Inc., Biotronik, ReShape Lifesciences, Inc., and LivaNova, PLC.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics
  • The global electroceutical devices market report caters to various stakeholders in this industry including investors, suppliers, electroceutical devices based product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the electroceutical devices market.

Detailed Segmentation:

  • Global Electroceutical Devices Market, By Product Type:
    • Cardiac Pacemakers
    • Implantable Cardioverter Defibrillators
    • Cardiac Resynchronization Therapy Devices
    • Retinal Implants
    • Cochlear Implants
    • Spinal cord Stimulators
    • Deep brain Stimulators
    • Sacral Neuromodulators
    • Others
  • Global Electroceutical Devices Market, By Modality:
    • Implantable Electroceutical Devices
    • Non-Invasive Electroceutical Devices
  • Global Electroceutical Devices Market, By Application:
    • Chronic Pain
    • Cardiovascular Diseases
    • Ophthalmic Diseases
    • Neurological Diseases
    • Hearing Disorders
    • Gastrointestinal Diseases
  • Global Electroceutical Devices Market, By End User:
    • Hospitals
    • Ambulatory Surgical Centers
    • Others
  • Global Electroceutical Devices Market, By Geography:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Product Type:
        • Cardiac Pacemakers
        • Implantable Cardioverter Defibrillators
        • Cardiac Resynchronization Therapy Devices
        • Retinal Implants
        • Cochlear Implants
        • Spinal cord Stimulators
        • Deep brain Stimulators
        • Sacral Neuromodulators
        • Others
      • By Modality:
        • Implantable Electroceutical Devices
        • Non-Invasive Electroceutical Devices
      • By Application
        • Chronic Pain
        • Cardiovascular Diseases
        • Ophthalmic Diseases
        • Neurological Diseases
        • Hearing Disorders
        • Gastrointestinal Diseases
      • By End User:
        • Hospitals
        • Ambulatory Surgical Centers
        • Others
    • Europe
      • By Country:
        • Germany
        • France
        • Italy
        • UK
        • Spain
        • Russia
        • Rest of Europe
      • By Product Type:
        • Cardiac Pacemakers
        • Implantable Cardioverter Defibrillators
        • Cardiac Resynchronization Therapy Devices
        • Retinal Implants
        • Cochlear Implants
        • Spinal cord Stimulators
        • Deep brain Stimulators
        • Sacral Neuromodulators
        • Others
      • By Modality:
        • Implantable Electroceutical Devices
        • Non-Invasive Electroceutical Devices
      • By Application
        • Chronic Pain
        • Cardiovascular Diseases
        • Ophthalmic Diseases
        • Neurological Diseases
        • Hearing Disorders
        • Gastrointestinal Diseases
      • By End User:
        • Hospitals
        • Ambulatory Surgical Centers
        • Others
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • South Korea
        • Australia
        • Rest of Asia Pacific
      • By Product Type:
        • Cardiac Pacemakers
        • Implantable Cardioverter Defibrillators
        • Cardiac Resynchronization Therapy Devices
        • Retinal Implants
        • Cochlear Implants
        • Spinal cord Stimulators
        • Deep brain Stimulators
        • Sacral Neuromodulators
        • Others
      • By Modality:
        • Implantable Electroceutical Devices
        • Non-Invasive Electroceutical Devices
      • By Application
        • Chronic Pain
        • Cardiovascular Diseases
        • Ophthalmic Diseases
        • Neurological Diseases
        • Hearing Disorders
        • Gastrointestinal Diseases
      • By End User:
        • Hospitals
        • Ambulatory Surgical Centers
        • Others
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Product Type:
        • Cardiac Pacemakers
        • Implantable Cardioverter Defibrillators
        • Cardiac Resynchronization Therapy Devices
        • Retinal Implants
        • Cochlear Implants
        • Spinal cord Stimulators
        • Deep brain Stimulators
        • Sacral Neuromodulators
        • Others
      • By Modality:
        • Implantable Electroceutical Devices
        • Non-Invasive Electroceutical Devices
      • By Application
        • Chronic Pain
        • Cardiovascular Diseases
        • Ophthalmic Diseases
        • Neurological Diseases
        • Hearing Disorders
        • Gastrointestinal Diseases
      • By End User:
        • Hospitals
        • Ambulatory Surgical Centers
        • Others
    • Latin America
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
      • By Product Type:
        • Cardiac Pacemakers
        • Implantable Cardioverter Defibrillators
        • Cardiac Resynchronization Therapy Devices
        • Retinal Implants
        • Cochlear Implants
        • Spinal cord Stimulators
        • Deep brain Stimulators
        • Sacral Neuromodulators
        • Others
      • By Modality:
        • Implantable Electroceutical Devices
        • Non-Invasive Electroceutical Devices
      • By Application
        • Chronic Pain
        • Cardiovascular Diseases
        • Ophthalmic Diseases
        • Neurological Diseases
        • Hearing Disorders
        • Gastrointestinal Diseases
      • By End User:
        • Hospitals
        • Ambulatory Surgical Centers
        • Others
    • Africa
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
      • By Product Type:
        • Cardiac Pacemakers
        • Implantable Cardioverter Defibrillators
        • Cardiac Resynchronization Therapy Devices
        • Retinal Implants
        • Cochlear Implants
        • Spinal cord Stimulators
        • Deep brain Stimulators
        • Sacral Neuromodulators
        • Others
      • By Modality:
        • Implantable Electroceutical Devices
        • Non-Invasive Electroceutical Devices
      • By Application
        • Chronic Pain
        • Cardiovascular Diseases
        • Ophthalmic Diseases
        • Neurological Diseases
        • Hearing Disorders
        • Gastrointestinal Diseases
      • By End User:
        • Hospitals
        • Ambulatory Surgical Centers
        • Others
  • Company Profiles
    • Medtronic plc*
      • Company Overview
      • Product Type Portfolio
      • Financial Performance
      • Key Developments
      • Strategies
    • Cochlear Ltd.
    • Sonova Holding AG
    • Abbott Laboratories
    • Advanced Bionics AG
    • Boston Scientific Corporation
    • ElectroCore, Inc.
    • Biotronik
    • ReShape Lifesciences, Inc.
    • LivaNova, PLC

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Product Type
      • Market Snippet By Modality
      • Market Snippet By Application
      • Market Snippet By End User
      • Market Snippet By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Market Trends
    • Epidemiology
    • Merger and Acquisitions
    • New Product Type Approvals/Launch
    • PEST Analysis
    • Porter’s Analysis
  4. Global Electroceutical Devices Market, By Product Type, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Cardiac Pacemakers
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Implantable Cardioverter Defibrillators
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Cardiac Resynchronization Therapy Devices
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Retinal Implants
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Cochlear Implants
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Spinal cord Stimulators
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Deep brain Stimulators
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Sacral Neuromodulators
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  5. Global Electroceutical Devices Market, By Modality, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Implantable Electroceutical Devices
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Non-Invasive Electroceutical Devices
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  6. Global Electroceutical Devices Market, By Application, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Chronic Pain
      • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
    • Cardiovascular Diseases
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Ophthalmic Diseases
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Neurological Diseases
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Hearing Disorders
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Gastrointestinal Diseases
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  7. Global Electroceutical Devices Market, By End User, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-O-Y Growth, 2016 – 2026, (US$ Million)
  8. Global Electroceutical Devices Market, By Region, 2016 - 2026 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2026 (%)
      • Y-O-Y Growth Analysis, For Regions, 2017 - 2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Modality, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Application, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Modality, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Application, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Modality, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Application, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Modality, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Application, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Modality, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Application, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Modality, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Application, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026 (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
  9. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • Medtronic plc
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Cochlear Ltd.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Sonova Holding AG 
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Advanced Bionics AG
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Boston Scientific Corporation
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • electroCore, Inc.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Biotronik
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • ReShape Lifesciences, Inc.
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • LivaNova, PLC
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
      • Abbott Laboratories
        • Company Overview
        • Product Type Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Strategies
    • Analyst Views
  10. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

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