Electroceuticals/Bioelectric Medicine Market to Grow at a 7.3% CAGR Through 2024-30, Reports MarkNtel Advisors

The Global Electroceuticals/Bioelectric Medicine Market is anticipated to grow at a CAGR of about 7.3% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Technological evolution and proactive health awareness programs led by industry leaders and organizations are some of the key factors responsible for the growth of the Global Electroceuticals/Bioelectric Medicine Market. Various organizations are increasingly launching health awareness initiatives to spread awareness about the disease & its solutions. These initiatives are resulting in the adoption of bioelectric medicine, driving market growth.

Additionally, these medicines are proven to provide better output than conventional therapies. Therefore, patients are increasingly looking for medical devices that help improve their health. Hence, individuals are transitioning towards these upgraded medical devices rather than conventional therapies, fueling market growth.

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Post-COVID-19, governing bodies and consumers across the globe have recognized the importance of the well-established healthcare infrastructure. Due to this, the official authorities of several countries are providing funds to modernize and upgrade their facilities. This would consequently result in a higher adoption of advanced bioelectric medicines. Moreover, the governing bodies across the globe are working on conducting research studies & clinical investigations to improve the efficacy of these products. This would continue to gain the attention of health-conscious consumers, further states the research report, “Global Electroceuticals/Bioelectric Medicine Market Analysis, 2024.”

Segmentation Analysis

Cardiac Pacemakers & Implantable Cardioverter Defibrillators Segment Holds a Major Market Share

Based on the product, the market is further bifurcated into Cardiac Pacemakers & Implantable Cardioverter Defibrillators, Cochlear Implants, Neuromodulators, and Retinal Implants. Of them all, Cardiac Pacemakers & Implantable Cardioverter Defibrillators hold a dominant market share in the Global Electroceuticals/Bioelectric Market. The number of patients suffering from heart diseases is growing since individuals nowadays follow an unhealthy lifestyle that includes high consumption of packaged food & alcohol. These cardiovascular diseases are even one of the leading causes of death globally, as per the statistics provided by research institutions.

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Therefore, there is a surge in the requirement for solutions that help save patients' lives. Hence, there is a growing demand for these solutions, uplifting the Global Electroceuticals/Bioelectric Medicine Market. Additionally, several countries are experiencing a surge in the aging population, which is more susceptible to heart-related issues. Therefore, the demand for these medical devices is projected to grow during the forecast period.

North America Leads the Global Electroceuticals/Bioelectric Medicine Market

Geographically, North America leads the Global Electroceuticals /Bioelectric Medicine Market. The nations in the regions are observing a surge in the occurrence of several health disorders, owing to which the governing authorities in the region have developed technologically advanced healthcare facilities. These medical facilities are equipped with the latest technology and medical systems to cater to the evolving need for therapies, uplifting market growth.

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Further, the health ministries in the region are increasingly providing funds to establish new units to emerge as one of the leading medical tourism countries. This rising setup of specialized medical facilities would further ramp up the demand for electroceuticals & bioelectric medicines, enlarging the market size of the Global Electroceuticals/Bioelectric Medicine Market.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Boston Scientific Corporation, Medtronic, Abbott, Cochlear Limited, Livanova Plc, Sonova, Axonics, Inc., Electrocore Inc., Neuropace Inc., Medico SRL, Biotronik, Aleva Neurotherapeutics, Neurosigma Inc., Biowave Corporation, Softerix Medical Inc., and others, are looking forward to strengthening their market positions.

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Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
2. What are the market trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the regions?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

About Us:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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