Global Electroceuticals Market

Global Electroceuticals Market Size, Share, Growth Analysis, By Product(Defibrillators, Pacemaker), By End-User(Hospitals & Clinics, Homecare & Others), By Type(Implantable Electroceutical, Non-Invasive Electroceutical) - Industry Forecast 2023-2030


Report ID: SQSG35A2009 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 93 | Figures: 75

Global Electroceuticals Market Insights

Electroceuticals Market size was valued at USD 16.8 billion in 2021 and is poised to grow from USD 17.64 billion in 2022 to USD 27.37 billion by 2030, growing at a CAGR of 5.02% in the forecast period (2023-2030).

The past several years have seen a rapid acceleration in medical technology, which has changed therapies and medicine. As a result, the market for electroceuticals has grown significantly. Over the course of the forecast period, rapid developments in the healthcare sector and the spread of technology in medical applications are anticipated to drive the market for electroceuticals.

Over the next four years, it is anticipated that rising R&D spending, an ageing population, a high prevalence of chronic diseases, swift medical technology advancements, and rising awareness and acceptance of alternative medicine will all have a favourable impact on market growth. The demand for non-invasive electroceutical devices is anticipated to outpace that of implantable electroceutical devices due to the growing acceptance of less invasive techniques. But during the projection period, strict regulatory requirements, frequent product recalls, lengthy approval processes, and high costs are anticipated to be the main challenges that could limit the potential of the electroceuticals market.

Cardiovascular illnesses are becoming more common around the world, and this is anticipated to boost the growth of the electroceuticals market over the course of the projected period. The use of electroceuticals in the treatment of various cardiovascular illnesses is expected to increase during the coming years. Through the projection period, implantable cardioverter defibrillators are anticipated to experience strong demand.

The rise of infectious and chronic diseases worldwide during the past few decades has increased the focus on healthcare. The need for additional research and development in the healthcare sector has consequently increased, as has the desire for innovative therapies. Governments are starting initiatives and providing financing to boost research and development, which is anticipated to improve the market potential for electroceuticals during the following four years.

US Electroceuticals Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 16.8 billion

Largest Segment

Hospitals & Clinics

Fastest Growth

Hospitals & Clinics

Growth Rate

5.02% CAGR

Global Electroceuticals Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Electroceuticals Market Size by End-User 2021-2028 ($ Bn)
Global Electroceuticals Market Size by End-User 2021-2028 (%)

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Global Electroceuticals Market Segmental Analysis

Global Electroceuticals Market is segmented based on Product, End-User, type and region. Based on the product, the Global Electroceuticals Market is segmented into Defibrillators and Pacemaker, Deep Brain Stimulators, Spinal Cord Stimulators, Vagus Nerve Stimulators, Hearing Aids and Cochlear Implants, and Others. Based on the end-user, the Global Electroceuticals Market is segmented into Hospitals & Clinics and Homecare & Others. By type, it is segmented into Implantable Electroceutical, Non-Invasive Electroceutical.  Based on the region, the Global Electroceuticals Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Electroceuticals Market Analysis by Product

The Global Electroceuticals Market is categorized as Defibrillators and Pacemaker, Deep Brain Stimulators, Spinal Cord Stimulators, Vagus Nerve Stimulators, Hearing Aids and Cochlear Implants, and Others. In 2021, the defibrillators and pacemakers segment held the most dominating share of the Global Electroceuticals market. The segmental growth of the market is attributed to the high prevalence of sudden cardiac arrest (SCA) which results in high arrhythmia as well as mortality due to cardiac arrest. As per the US Centers for Disease Control and Prevention, more than 350,000 people experience cardiac arrest out-of-hospital in the US alone. Electroceuticals are used in different applications to prevent and cure cardiac arrest. Cardiac pacemakers and implantable cardioverter defibrillators (ICDs) are used for arrhythmia.

Global Electroceuticals Market By End-User, 2021 (%), 2021 (%)

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Global Electroceuticals Market Regional Insights

Based on the region, the Global Electroceuticals Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA. In 2021, the North American region is projected to hold the most substantial share of more than 32.0% in the global market. The presence of a significant number of players and government as well as non-government organizations emphasizing the electroceuticals is the prominent factor that contributes to the growth of the Electroceuticals Industry in the region. Increased healthcare spending is another factor that contributes to the growth of the regional Electroceuticals market. In the region, the US has the highest healthcare spending.

Over the projected period, the market for Electroceuticals in the Asia Pacific is also expected to grow at a significant rate. This is attributed to the growing number of investments by various healthcare government organizations in the region. Factors such as increasing the prevalence of chronic diseases such as cardiovascular diseases, Alzheimer’s disease, and Parkinson’s disease coupled with the rising geriatric population are considered the key factors that contribute to the regional growth of the Electroceuticals market in the upcoming years.

Global Electroceuticals Market By Geography, 2021 - 2028, 2023-2030
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Global Electroceuticals Market Dynamics

Electroceuticals Market Driver

  • One of the primary factors driving the growth of the global electroceuticals market is the rising prevalence of cardiovascular illnesses. Cardiovascular illnesses are thought to be one of the leading causes of death around the world. According to the World Health Organization, cardiovascular disease kills more than 17.3 million people every year. Furthermore, by 2030, the global number of deaths due to cardiovascular illnesses is expected to reach 23.6 million. Cardiovascular illnesses affect 31% of the global population, with low and middle-income nations accounting for 80% of all deaths. According to the American Heart Society, cardiovascular disease killed over 800,000 people in the United States. This creates significant scope for the growth of the global electroceuticals industry during the forecast period. Furthermore, significant product launches by the key players operating in the market are considered another major aspect that drives the growth of the global electroceuticals market in the upcoming years.

Electroceuticals Market Restraint

  • Lack of awareness among the people regarding the use of electroceutical devices in low and middle-income countries is one of the major limitations faced by the market. In the high-income economies, there is widespread usage of implantable cardiac rhythm management and other electroceutical devices. However, in low and middle-income countries (LMIC), access is limited. As per the study carried out by American Heart Association, Latin American people living in the US were less informed about an AED and its usage. The survival rate after cardiac arrest can be improved at a high rate by the use of a defibrillator, however, there is a lack of public awareness, due to which a patient may lack treatment.

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Global Electroceuticals Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Electroceuticals Market Top Players' Company Profiles

  • Medtronic plc (Ireland)
  • Boston Scientific Corporation (US)
  • Abbott Laboratories, Inc. (US)
  • LivaNova PLC (UK)
  • Cochlear Ltd. (Australia)
  • MicroPort Scientific Corporation (China)
  • Sonova Group (Switzerland)
  • Nevro Corp. (US)
  • NeuroPace, Inc. (US)
  • BIOTRONIK (Germany)
  • Medico S.p.A. (Italy)
  • Nurotron Biotechnology Co. Ltd. (US)
  • MED-EL (Austria)
  • Aleva Neurotherapeutics SA (Switzerland)
  • NeuroSigma, Inc. (US)
  • Bioinduction Ltd. (UK)
  • GiMer Medical (Taiwan)
  • BioControl Medical (Israel)
  • tVNS Technologies GmbH (Germany)

Electroceuticals Market Recent Developments

  • In March 2022, the UK-based company Rapid Response Revival launched CellAED, which is created to increase access to defibrillators and overcome barriers to their use. It is a personal, portable defibrillator that uses game-changing technology, designed to improve the chances of surviving a sudden cardiac arrest. The company claims the newly designed CellAED to be quick and easy to use. CellAED is up to one-tenth of the price, size, and weight of current technology.
  • In February 2022, Abbott announced the launch of a dual-chamber leadless pacemaker system as part of its AVEIR DR i2i pivotal clinical study.
  • In January 2022, Cochlear Limited, a key player in implantable hearing solutions, received US Food and Drug Administration (FDA) approval for its Cochlear Nucleus Implants which are used for the treatment of unilateral hearing loss (UHL)/single-sided deafness (SSD).

Global Electroceuticals Key Market Trends

  • The electroceuticals market has a large number of market players globally. The market players offer a broad product portfolio of electroceuticals for the treatment of diseases. The prominent players functioning in the global electroceutical market include Medtronic plc (Ireland), Boston Scientific Corporation (US), Abbott Laboratories, Inc. (the US), LivaNova PLC (UK), Cochlear Ltd. (Australia), MicroPort Scientific Corporation (China), Sonova Group (Switzerland), Nevro Corp. (US), BIOTRONIK (Germany), NeuroSigma, Inc. (the US), BioControl Medical (Israel), and tVNS Technologies GmbH (Germany) among many others. These players are continuously contributing to the growth of the market by adopting various growth strategies such as technological advancements and developments, product launches, mergers and acquisitions, and joint ventures among others to drive the growth of the market during the forecast period. Some of the recent activities by the company in the electroceutical industry include: in March 2021, Medtronic plc (Ireland) received US FDA approval for its Intellis Platform with Differential Target Multiplexed (DTM) programming to treat chronic intractable back and leg pain. While, in January 2021, Boston Scientific Corporation (US) received US FDA approval for its Vercise Genus Deep Brain Stimulation System.

Global Electroceuticals Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the Global Electroceuticals Market is segmented based on Product and End-User. Based on the product, the Global Electroceuticals Market is segmented into Defibrillators and Pacemaker, Deep Brain Stimulators, Spinal Cord Stimulators, Vagus Nerve Stimulators, Hearing Aids and Cochlear Implants, and Others. Among these, the Defibrillators and Pacemaker segment is anticipated to hold the most substantial share in the market. Based on the end-user, the Global Electroceuticals Market is segmented into Hospitals & Clinics and Homecare & Others. The Hospitals & Clinics segment is anticipated to hold the most substantial share in the market.

Report Metric Details
Market size value in 2021 USD 16.8 billion
Market size value in 2030 USD 17.64 billion
Growth Rate 5.02%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Defibrillators, Pacemaker, Deep Brain Stimulators, Spinal Cord Stimulators, Vagus Nerve Stimulators, Hearing Aids, Cochlear Implants, Others
  • End-User
    • Hospitals & Clinics, Homecare & Others
  • Type
    • Implantable Electroceutical, Non-Invasive Electroceutical
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Medtronic plc (Ireland)
  • Boston Scientific Corporation (US)
  • Abbott Laboratories, Inc. (US)
  • LivaNova PLC (UK)
  • Cochlear Ltd. (Australia)
  • MicroPort Scientific Corporation (China)
  • Sonova Group (Switzerland)
  • Nevro Corp. (US)
  • NeuroPace, Inc. (US)
  • BIOTRONIK (Germany)
  • Medico S.p.A. (Italy)
  • Nurotron Biotechnology Co. Ltd. (US)
  • MED-EL (Austria)
  • Aleva Neurotherapeutics SA (Switzerland)
  • NeuroSigma, Inc. (US)
  • Bioinduction Ltd. (UK)
  • GiMer Medical (Taiwan)
  • BioControl Medical (Israel)
  • tVNS Technologies GmbH (Germany)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Electroceuticals Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Electroceuticals Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Electroceuticals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Electroceuticals Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Electroceuticals Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Electroceuticals Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Electroceuticals Market size was valued at USD 16.8 billion in 2021 and is poised to grow from USD 17.64 billion in 2022 to USD 27.37 billion by 2030, growing at a CAGR of 5.02% in the forecast period (2023-2030).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Medtronic plc (Ireland)', 'Boston Scientific Corporation (US)', 'Abbott Laboratories, Inc. (US)', 'LivaNova PLC (UK)', 'Cochlear Ltd. (Australia)', 'MicroPort Scientific Corporation (China)', 'Sonova Group (Switzerland)', 'Nevro Corp. (US)', 'NeuroPace, Inc. (US)', 'BIOTRONIK (Germany)', 'Medico S.p.A. (Italy)', 'Nurotron Biotechnology Co. Ltd. (US)', 'MED-EL (Austria)', 'Aleva Neurotherapeutics SA (Switzerland)', 'NeuroSigma, Inc. (US)', 'Bioinduction Ltd. (UK)', 'GiMer Medical (Taiwan)', 'BioControl Medical (Israel)', 'tVNS Technologies GmbH (Germany)'

One of the primary factors driving the growth of the global electroceuticals market is the rising prevalence of cardiovascular illnesses. Cardiovascular illnesses are thought to be one of the leading causes of death around the world. According to the World Health Organization, cardiovascular disease kills more than 17.3 million people every year. Furthermore, by 2030, the global number of deaths due to cardiovascular illnesses is expected to reach 23.6 million. Cardiovascular illnesses affect 31% of the global population, with low and middle-income nations accounting for 80% of all deaths. According to the American Heart Society, cardiovascular disease killed over 800,000 people in the United States. This creates significant scope for the growth of the global electroceuticals industry during the forecast period. Furthermore, significant product launches by the key players operating in the market are considered another major aspect that drives the growth of the global electroceuticals market in the upcoming years.

The electroceuticals market has a large number of market players globally. The market players offer a broad product portfolio of electroceuticals for the treatment of diseases. The prominent players functioning in the global electroceutical market include Medtronic plc (Ireland), Boston Scientific Corporation (US), Abbott Laboratories, Inc. (the US), LivaNova PLC (UK), Cochlear Ltd. (Australia), MicroPort Scientific Corporation (China), Sonova Group (Switzerland), Nevro Corp. (US), BIOTRONIK (Germany), NeuroSigma, Inc. (the US), BioControl Medical (Israel), and tVNS Technologies GmbH (Germany) among many others. These players are continuously contributing to the growth of the market by adopting various growth strategies such as technological advancements and developments, product launches, mergers and acquisitions, and joint ventures among others to drive the growth of the market during the forecast period. Some of the recent activities by the company in the electroceutical industry include: in March 2021, Medtronic plc (Ireland) received US FDA approval for its Intellis Platform with Differential Target Multiplexed (DTM) programming to treat chronic intractable back and leg pain. While, in January 2021, Boston Scientific Corporation (US) received US FDA approval for its Vercise Genus Deep Brain Stimulation System.

Based on the region, the Global Electroceuticals Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA. In 2021, the North American region is projected to hold the most substantial share of more than 32.0% in the global market. The presence of a significant number of players and government as well as non-government organizations emphasizing the electroceuticals is the prominent factor that contributes to the growth of the Electroceuticals Industry in the region. Increased healthcare spending is another factor that contributes to the growth of the regional Electroceuticals market. In the region, the US has the highest healthcare spending.

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Global Electroceuticals Market

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