Bioelectric Medicine Market: Worldwide Top Players Revenue and Forecasts To 2026

Bioelectric Medicine Market: Worldwide Top
Players Revenue and Forecasts To 2026
Bioelectric Medicine Market, By Product (Cardiac Pacemakers, Cochlear
Implants, Implantable Cardioverter Defibrillators, and Others), By Type
(Implantable Electroceutical Devices and Non-Invasive Electroceutical Devices),
By Application (Pain Management, Depression, Epilepsy, and Others), and By
Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026
Bioelectric medicine is a new and innovative approach to diagnose and treat injuries and diseases. All
major organs of the body are connected to the nerves, which allows the brain to monitor and regulate
the functions of the organs. Bioelectric medicine refers to the usage of a device to modulate and read
the electrical activity within the body’s nervous systems. Nerve blocking devices or nerve stimulating
devices that are held against the skin or implanted on a nerve have the potential to regulate specific
nerve activity, make specific changes in organ function, and also restore health, without much
complicated side effects of pharmaceutical agents. Bioelectric medicine technology is used to record,
block, and stimulate neural signals to change the way diseases and injuries are treated. It is also used
for the treatment of conditions such as cancer, paralysis, rheumatoid arthritis, and diabetes.
Electroceuticals are alternatives to drug based remedies. Click To Read More on Bioelectric Medicine
Market
Market Drivers:
Mergers and acquisitions, advancements in technology, and innovations such as non-invasive devices
in the field of bioelectric medicines are the major factors driving growth of the bioelectric medicine
market. For instance, in 2016, GlaxoSmithKline Plc. (GSK) merged with Google’s parent company
Alphabet to set up a new bioelectric company called Galvani Bioelectronics, which will benefit over 2
billion people who are suffering from chronic diseases. GSK invested around US$ 615 million for the
development of Galvani Bioelectronics. In 2015, Synapse Electroceutical Technology, a UK-based
company launched a new product Accel-Heal, which is a non-invasive class 2A medical device. The
device also promotes healing of leg ulcers by using electrical energy. Accel-Heal delivers a sequence of
low level, pre-programmed and sub sensory electrical energy through surface of the skin. Synapse
Electroceutical Technology has a product for venous leg ulcer management in the pipeline, which is
expected to fuel growth of the bioelectric medicine market over the forecast period. Other factors that
boost growth of the bioelectric medicine market include increasing number of diseases in geriatric
population such as cardiac arrhythmias, Parkinson’s disease, Alzheimer’s disease, epilepsy, and
depression, and rise in chronic diseases such as neurological and cardiac disorders. According to a
study conducted by Journal of Family Medicine and Primary Care in 2017, four major chronic diseases
including cancer, cardiovascular disease, diabetes, and chronic respiratory diseases were the major
cause for 82% deaths in India. According to a study conducted by World Health Organization (WHO)
in 2017, non-communicable diseases are expected to contribute to death of 52 million people by 2030
globally.
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Bioelectric Medicine Market Key Players:
Key players operating in the global bioelectric medicine market include Medtronic PLC, Sonava,
Boston Scientific Corporation, St Jude Medical, Liva Nova PLC, Biotronic, Second Sight Medical
Products, Nevro Corp, and Electrocare among others.
Bioelectric Medicine Market Taxonomy:
By Products
•Cardiac Pacemakers
•Cochlear Implants
•Implantable Cardioverter Defibrillators
•Spinal cord Stimulators
•Retinal Implants
•Vagus Nerve Stimulators
•Sacral Nerve Stimulators
•Deep brain Stimulators
•Transcutaneous Electrical Nerve Stimulators
By Product Type
•Implantable Electroceutical Devices
•Non-Invasive Electroceutical Devices
By Application
•Pain Management
•Depression
•Epilepsy
•Arrhythmia
•Tremor
•Parkinson’s Disease
•Sensorineural Hearing Loss
•Others
Bioelectric Medicine Market Regional Analysis:
Europe is expected to witness significant growth in the global bioelectric medicine market due to
mergers and acquisitions and advancements in R&D. For instance, in 2015, GSK had over 50 research
collaborations in the field of bioelectric medicine. In 2013, GSK invested in a start-up company called
Set Point, who is involved in the development of implantable devices that would stimulate the vagus
nerve in the neck with electrical impulses. North America is also expected to witness significant growth
in the bioelectric medicine market due to advancements in research and development. For instance,
Electro Core, a U.S.-based company is working on a device to treat headaches related to migraines by
stimulating vagus nerve on the neck with electrical impulses. In 2017, Reshape Lifesciences launched
minimally invasive medical devices ReShape Balloon, ReShape VBloc, and ReShape Vest to treat
obesity and metabolic diseases. In 2014, the U.S. FDA approved Inspire Medical Systems’ Sleep Apnea
Treatment to treat sleep apnea by implanting a device that stimulates air way muscles.
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Bioelectric medicine is a new and innovative approach to diagnose and treat injuries and diseases. All major organs of the body are connected to the nerves, which allows the brain to monitor and regulate the functions of the organs.

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