The Europe Bioelectric Medicine Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030).
The expanding body of evidence supporting the efficacy of bioelectric therapies has contributed to a shift in mindset, with clinicians incorporating these interventions into their treatment arsenals. Moreover, bioelectric medicine often involves implantable devices that deliver electrical impulses to specific body areas. These devices range from neurostimulators for pain management to implantable sensors for real-time health monitoring. Integrating these devices with the body's natural processes allows for personalized and adaptive treatment strategies.
In addition, the concept of "electroceuticals" is gaining traction, referring to devices that use electrical impulses to stimulate specific nerves or tissues for therapeutic purposes. This category includes wearable devices, smart patches, and other non-invasive technologies that offer targeted interventions for migraines, diabetes, and cardiovascular disorders. Electroceuticals are emerging as a patient-friendly alternative to traditional drug-based therapies.
As per the data from the European Commission, brain disorders represent a significant obstacle in the realm of health. An estimated 165 million Europeans are afflicted with a neurological defect. An estimated one in every three individuals will experience a neurological or mental disorder during their lifetime. Therefore, rising cases of neurological disorders in Europe are expected to boost the demand for bioelectric medicines in the region.
The Germany market dominated the Europe Bioelectric Medicine Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,083.2 million by 2030. The UK market is exhibiting a CAGR of 4.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6.5% during (2023 - 2030).
Based on Type, the market is segmented into Implantable Electroceutical Devices, and Non-invasive Electroceutical Devices. Based on End-use, the market is segmented into Hospitals, and Others. Based on Product, the market is segmented into Implantable Cardioverter Defibrillators & Cardiac Pacemakers, Spinal Cord Stimulators, Cochlear Implants, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Sacral & Vagus Nerve Stimulators, and Others. Based on Application, the market is segmented into Arrhythmia, Pain Management, Sensorineural Hearing Loss, Tremor & Epilepsy, Parkinson’s Disease, Depression, Treatment-resistant Depression, Urinary & Fecal Incontinence, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Bioelectric Medicine Market will Hit $31.7 billion by 2030, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, Cochlear Ltd., LivaNova PLC, Koninklijke Philips N.V., Biotronik SE & Co. KG, Sonova Holding AG, Nevro Corporation, and electroCore, Inc.
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