Electroceuticals Global Market 2024 To Reach $30.84 Billion By 2028 At Rate Of 7.2%

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON , UK, July 15, 2024 /EINPresswire.com/ -- The electroceuticals market has experienced robust growth in recent years, expanding from $21.81 billion in 2023 to $23.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rise in chronic diseases, investment in research and development, aging population, advancements in nanotechnology, improved understanding of neural pathways.

Strong Future Growth Anticipated
The electroceuticals market is projected to continue its strong growth, reaching $30.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to advancements in bioelectronics, precision medicine development, growth in non-invasive therapies, focus on chronic pain management, rising neurological disorders.

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Growth Driver Of The Electroceuticals Market
Increasing prevalence of neurological disorders is expected to propel the growth of the electroceuticals market going forward. Neurological disorders refer to a broad category of medical conditions that affect the nervous system, which includes the brain, spinal cord, and peripheral nerves. Electroceuticals involve the use of electrical impulses to modulate the activity of the nervous system, reduced side effects, provide periodic stimulation to maintain therapeutic effects, promote neuroplasticity, incorporate real-time monitoring capabilities, and offer the potential for long-term, chronic disease management.

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Electroceuticals Market Major Players And Market Trends
Key players in the electroceuticals market include Abbott Laboratories Inc., Medtronic Public Limited Company, Boston Scientific Corporation, Sonova Holding AG, Biotronik SE & Co. KG, Cochlear Limited, LivaNova PLC, MicroPort Scientific Corporation Limited, MED-EL Elektromedizinische Geräte GmbH, Nevro Corporation, Axonics Modulation Technologies Inc., Oticon Medical, Neuronetics Inc., Nuvectra Corporation, NeuroPace Inc., Second Sight Medical Products Inc., Saluda Medical Pty. Ltd., Stimwave Technologies Incorporated, electroCore Inc., Synapse Biomedical Inc., Soterix Medical Inc., Retina Implant AG, MicroTransponder Inc., Vomaris Innovations Inc., SPR Therapeutics Inc., NeuroSigma Inc., Nexeon MedSystems Inc., BioElectronics Corporation, Setpoint Medical Corporation, Endonovo Therapeutics Inc..

Major companies operating in the electroceuticals market are focusing on innovative treatments such as advanced non-invasive neuromodulation treatment to drive revenues in their market. Non-invasive neuromodulation treatment is to heal deep brain structural dysfunctions associated with long-term ailments including central nervous system diseases and overactive bladder.

Electroceuticals Market Segments:
1) By Type: Implantable Electroceutical Devices, Non-Invasive Electroceutical Devices
2) By Product: Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Cochlear Implants, Spinal Cord Stimulators, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Other Products
3) By Application: Arrhythmia, Depression, Parkinson’s Disease, Tremor, Epilepsy, Sensorineural Hearing Loss, Other Applications
4) By End-User: Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Other End Users

Geographical Insights: North America Leading The Market
North America was the largest region in the electroceuticals market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of electroceuticals.

Electroceuticals Market Definition
Electroceuticals refers to a medical science and technology field involving using electrical stimulation to modulate and interact with the body's neural circuits and bioelectrical systems for therapeutic purposes. It combines electronics, biology, and medical elements to develop devices and therapies targeting specific nerves, tissues, or organs to treat various medical conditions.

Electroceuticals Global Market Report 2024 from THE BUSINESS RESEARCH COMPANY covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Electroceuticals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electroceuticals market size, electroceuticals market drivers and trends, electroceuticals market major players, electroceuticals competitors' revenues, electroceuticals market positioning, and electroceuticals market growth across geographies. The electroceuticals market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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