(EMAILWIRE.COM, January 17, 2019 ) A number of factors such as rising geriatric population, regulatory approval for new and advanced electroceuticals, growing investments and funds for the development of novel therapies and electroceuticals, rising prevalence of neurological disorders, and growing prevalence of hearing loss are expected to drive the growth of the Bioelectric Medicine Market during the forecast period.

Opportunities:

# Growth Potential Offered By Emerging Countries
# Strong Product Pipeline

Challenges:

# Unfavorable Reimbursement Scenario

Electroceuticals encompass medical devices that use electrical impulses to modulate the body's neural circuits as an alternative to drug-based intervention. Electroceuticals are also known as bioelectronic medicine, which combine molecular medicine, bioengineering, and neuroscience to discover and develop nerve stimulating and sensing technologies to regulate biological processes and treat diseases.

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By product, the market is categorized into implantable cardioverter defibrillators, cardiac pacemakers, spinal cord stimulators, cochlear implants, deep brain stimulators, transcutaneous electrical nerve stimulators, vagus nerve stimulators, sacral nerve stimulators, retinal implants, and other electrical stimulators (gastric electrical stimulators, transcranial magnetic stimulators, and respiratory electrical stimulators). The implantable cardioverter defibrillators segment is expected to account for the largest share of the market in 2016.

The Bioelectric Medicine Market, based on type of device, is segmented into implantable electroceuticals devices, and non-invasive electroceuticals devices. The implantable electroceuticals devices segment is expected to account for the largest share of the market in 2016. This is mainly attributed to the rising research in this industry and collaborations and partnerships to development electroceuticals devices, the implantable electroceuticals devices being used since a long time, these devices providing continuous treatment within the body, and providing an environment for the easy treatment of patients.

On the basis of end users, the Bioelectric Medicine Market is segmented into hospitals, research institutes, and individual users. The hospitals segment is expected to account for the largest share of the market in 2016. The large share of this segment can be attributed to the increasing burden of diseases such as cardiac arrhythmias, Parkinson’s, Alzheimer’s, retinitis pigmentosa, epilepsy, and depression; and increasing awareness about electroceuticals. However, the individual users segment is expected to grow at the highest CAGR during the forecast period (2016-2021).

On the basis of region, the Bioelectric Medicine Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016.

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The large share of the North American region can be attributed to the rising prevalence of arrhythmia, growing prevalence of chronic diseases, high prevalence of hearing loss, expected approvals for retinal implants in the U.S., conferences & annual meetings held in the U.S., increasing regulatory approvals in the U.S., increasing burden of cancer and diabetes, and increase in hearing loss owing to rising aging population in Canada. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period (2016-2021).

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