Market Challenges And Opportunities

Increasing awareness about bioelectronics is one of the key factors that will drive the growth of the market. High prevalence of cardiovascular diseases and rising usage of artificial pacemakers will propel the growth of bioelectronics market in the coming years. Additionally, increasing demand for home care and customized medicine are some of the other key drivers of the bioelectronics market. Moreover, sensors industrialized by bioelectronics research are responsible for the rise in demand for the bioelectronics products.

Growing diabetic population and the increasing prevalence of heart diseases will drive the overall bioelectronics market

According to the Heart Foundation, in 2011, heart and other cardiovascular diseases led to 787 thousand fatalities in the U.S. alone. Moreover, as per International Diabetic Federation (IDF) around 415 million people suffered from diabetes in 2015. Since diabetic monitoring and control as well as heart failure patients need bioelectronics devices in the form of glucose monitoring devices, and artificial pacemakers, respectively, the market for bioelectronics product is likely to experience a huge surge in demand during the forecast period. This is attributed to rise in the number of patients suffering from the aforementioned diseases.