ELECTROCEUTICAL DEVICES MARKET ANALYSIS

Electroceutical Devices Market, by Product Type (Cardiac Pacemakers, Implantable Cardioverter Defibrillators, Cardiac Resynchronization Therapy Devices, Retinal Implants, Cochlear Implants, Spinal cord Stimulators, Deep brain Stimulators, Sacral Neuromodulators and Others), by Modality (Implantable Electroceutical Devices and Non-Invasive Electroceutical Devices), by Application (Chronic Pain, Cardiovascular Diseases, Ophthalmic Diseases, Neurological Diseases, Hearing Disorders and Gastrointestinal Diseases), By End User (Hospitals, Ambulatory Surgical Centers and Others) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Published In : Jul 2018
Code : CMI1958
Pages :192
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges And Opportunities

High Prevalence of Chronic Diseases among Global Population is Propelling Demand for Electroceutical Devices

Other factors boosting 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. For instance, 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.

According to the Data published in Current Pharmaceutical Design Journal in 2017, ion channel and neurotransmitter modulators can act as electroceutical approaches to control the cancer. Furthermore, in March 2014, Cancer-Code Corporation (C3) announced issuance of patent which entitles: Method and System for Processing Cancer Cell Electrical Signals for Medical Therapy, which covers an innovative approach to eradicate cancer in humans and animals.

Moreover, high prevalence of cancer and increasing awareness regarding early detection and treatment of cancer is further expected to drive growth of the global electroceutical devices market. For instance, in 2012, according to American Cancer Society data findings, North America accounted for high incidence rate of cancer in children as compared to any other region worldwide. Moreover, according to the same source, in 2012, North America accounted for 13.1% of total estimated cases of cancer worldwide.