The report analyzes factors affecting electroceutical devices market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the electroceutical devices market in these regions.
Rising number of chronic diseases leading to adoption of innovative and new therapeutic devices as well as technological advancements in electroceutical technology is expected to fuel the growth of the electroceutical devices market during the forecast period. Moreover, the adoption of inorganic strategies such as collaborations and merger-acquisitions among the ecosystem players are anticipated to offer growth opportunities to the companies in the electroceutical devices market.
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Electroceutical devices are a special class of medical devices that are used to treat various ailments with the help of electric impulse. Electroceuticals is a relatively new class of therapeutic agents that targets and acts upon the neural circuits of organs. The electroceutical therapy includes mapping of neural circuitry and delivering electrical impulses to these specific targets via an implantable or non-implantable device.
The key players operating in the electroceutical devices market include, Cochlear Ltd., Sonova, Abbott, Advanced Bionics AG, Boston Scientific Corporation, electroCore, Inc., Biotronik, Inc., ReShape Lifesciences, Inc., LivaNova PLC, and Medtronic among others.
North America is expected to contribute to the largest share in the electroceutical devices market in the coming years, owing to the technological advancements as well as large number of product approvals with respect to electroceutical devices. Asia Pacific is expected to witness significant growth in the electroceutical devices market during the forecast period, due to increasing advent of medical tourism and improving healthcare infrastructure investing significantly in the development of innovative therapeutic and medical devices.
The global electroceutical devices market is segmented on the basis of product type, modality, and end user. Based on product type, the market is segmented into cardiac pacemakers, implantable cardioverter defibrillators, retinal implants, cochlear implants, spinal cord stimulators, deep brain stimulators, and others. On the basis of modality, the electroceutical devices market is segmented into implantable devices and non-invasive devices. Based on end user, the electroceutical devices market is classified as, hospitals, academic research institutions, and ambulatory surgical centers.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global electroceutical devices market based on product type, modality, and end user. It also provides market size and forecast till 2027 for overall market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The electroceutical devices market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 counties globally along with current trend and opportunities prevailing in the region.
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