Global Electroceuticals Market by product and application types, market sizing, key player profiling, global forecastig for 2015-2025

Wednesday, October 25, 2017 Research News
Email Print This Page Comment bookmark
Font : A-A+

LONDON, Oct. 25, 2017 /PRNewswire/ -- Electroceuticals, also known as bioelectrical is a term used to describe miniature

devices which can alter electrical signals diffused by nerves throughout the body to treat a wide range of illnesses i.e. neurostimulation, unlike other stimulators of muscles and tissues. The unique value of electroceuticals is derived from the fact
that they can have a much-localized action and act much faster with lesser side effects as compared to conventional drugs or chemical-based pharmaceuticals that alter molecular pathways.Download the full report: https://www.reportbuyer.com/product/5158744Although, as of now, the focus of electroceuticals development is on conditions that where drugs are ineffective or have considerable side effects, the strong efficacy and cost-effectiveness of the electroceuticals benefits might be set to disrupt the pharmaceutical industry sooner than later by replacing standard drug care therapy.The global Electroceuticals market is expected to grow at a CAGR of 7.3% during 2017 to 2025 to reach US$52.8 billion by 2025 from an estimated market value US$27.6 billion in 2016. The electroceuticals market growth is due to rising geriatric population, regulatory approval for new and advanced electroceuticals, growing investments by big pharma companies and funds by government and universities for the development of novel therapies and electroceuticals, advancement in technology such as miniaturization, improved battery technology, advent of wearable devices, wireless micro-current stimulation, rising prevalence of neurological disorders and hearing loss and increasing chronic pain market with unmet needs for alternate therapies for Opioids use.The electroceutical devices global market is categorized into invasive and non-invasive electroceutical devices based on the type. The invasive or internal electroceutical segment held the largest market revenue in 2015 and is expected to grow at a higher growth rate from 2015 to 2022 as compared to external or non-invasive electroceuticals due to technological advancement in wireless microcurrent stimulation, wearable pain management technology, miniaturization etc.North America accounts for the highest market share followed by Europe and will continue to lead the market in the coming years. The large share of the North American region can be attributed to the rising prevalence of heart diseases, chronic diseases and increasing regulatory approvals of electroceutical devices. Moreover, the shift in preference toward these devices by patients and healthcare providers who are resistant towards the conventional techniques like surgeries and drug therapy will also contribute to this market's growth in the region.The electroceutical device market is highly fragmented with a large number of small and medium-size manufacturer's. Few big pharma companies like GSK, Abbott, GE and Medtronic with other well-known corporations such as Boston Scientific; Cochlear; LivaNova; Enteromedics; Sonova; Biotronik; Nevro Corp.; Second Sight and ElectroCore, and many startups and small-sized companies are present in the market. The electroceuticals market is highly competitive in nature due to a large number of players providing similar products.Prospective applications for electroceuticals seem extensive, chronic pain segment is one of mainstream application and largest segment of electroceuticals devices. Increasing awareness of harmful side effects of Opioids and greater chances of drug abuse, misuse, and dependence has increased R&D for new treatments for chronic pain which has minimal side effects.Download the full report: https://www.reportbuyer.com/product/5158744 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers https://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: [email protected] Tel: +44 208 816 85 48 Website: www.reportbuyer.com

View original content:http://www.prnewswire.com/news-releases/global-electroceuticals-market-by-product-and-application-types-market-sizing-key-player-profiling-global-forecastig-for-2015-2025-300542970.html

SOURCE ReportBuyer



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store