- Press Release
- Bioelectric Medicine Market to Surpass US$ 22.3 Billion by 2026
Bioelectric Medicine Market to Surpass US$ 22.3 Billion by 2026 - Coherent Market Insights
Published On : Jul 18, 2019
Global Bioelectric Medicine Market, By Product Type (Implantable cardioverter defibrillators, Cochlear implants, Spinal cord stimulators, Deep brain stimulators, Transcutaneous electrical nerve stimulators, Sacral nerve stimulators, Vagus nerve stimulators, and Other bioelectric medicines), By Application (Arrhythmia, Pain management, Sensorineural hearing loss, Parkinson’s Disease, Tremor, Depression, Epilepsy, Urinary and fecal incontinence, and Others), By End User (Hospitals, Ambulatory Care Centers and Diagnostic Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 12.3 billion in 2017, and is projected to exhibit a CAGR of 7.2% over the forecast period (2018-2026), as highlighted in a new report published by . Manufacturers in the global bioelectric medicine market are focusing on strategic mergers and acquisitions, in order to gain significant market share.
For instance, in 2016, GlaxoSmithKline completed a merger with Google's parent company Alphabet to set up a new bioelectric company called Galvani Bioelectronics to develop bioelectric medicines. It will be beneficial for people suffering from chronic diseases. Furthermore, GlaxoSmithKline invested around US$ 615 million for the development of Galvani Bioelectronics Company in 2016 Moreover, in 2015, Synapse Electroceutical Technology launched a new product Accel-Heal, which is a non-invasive class 2A medical device. The device promotes healing of leg ulcers by using electrical energy. Accel-Heal delivers a sequence of low level, pre-programmed, and sub sensory electrical energy through surface of the skin. Increasing investment in the development of advanced bioelectric medicine is another major factor to drive the market growth.
For instance, according to press release of GlaxoSmithKline, in 2013, GSK invested US$ 50 million in a start-up company called Set Point, who is involved in the development of implantable devices that would stimulate the vagus nerve in the neck with electrical impulses to treat epilepsy and depression.
Browse 35 Market Data Tables and 23 Figures spread through 180 Pages and in-depth TOC on "Bioelectric Medicine Market”, By Product Type (Implantable cardioverter defibrillators, Cochlear implants, Spinal cord stimulators, Deep brain stimulators, Transcutaneous electrical nerve stimulators, Sacral nerve stimulators, Vagus nerve stimulators, and Other bioelectric medicines), By Application (Arrhythmia, Pain management, Sensorineural hearing loss, Parkinson’s Disease, Tremor, Depression, Epilepsy, Urinary and fecal incontinence, and Others), By End User (Hospitals, Ambulatory Care Centers, and Diagnostic Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026" To know the latest trends and insights related Global Bioelectric Medicine Market, click the link below: https://www.coherentmarketinsights.com/market-insight/bioelectric-medicine-market-1757 ElectroCore, Inc., the U.S.-based company, offers a devices in global bioelectric medicine market, which includes gammaCore. This is non-invasive vagus nerve stimulator provides a mild electrical stimulation to the vagus nerve and runs through the neck and carries information to the central nervous system.
Each stimulation with gammaCore lasts 2 minutes and delivers up to 30 stimulations in a 24-hour period. This device is used in the treatment of migraine or cluster headache pain. Key Takeaways of the Global Bioelectric Medicine Market:
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