The Global Electroceuticals/Bioelectric Medicine Market size is estimated to grow at a CAGR of around 7.3% during the forecast period, i.e., 2024-30.
Global Electroceuticals/Bioelectric Medicine Market Driver:
Rising Incidences of Chronic Illnesses Driving Market Growth & Development – In the past few years, the chronic disease growth rate has significantly risen, and these illnesses have emerged as one of the leading causes of death worldwide. For instance,
- As per the statistics provided by the United Nations Children’s Fund (UNICEF), in 2019, chronic diseases are accountable for approximately 71% of deaths globally, with cardiovascular diseases as one of the immediate causes.
These health conditions are typically long-term and require continuous medical attention and management. Therefore, with the growing prevalence of chronic diseases, there is a higher need for more effective and innovative treatment options, like electroceuticals. These medicines utilize electrical stimulations to influence and modulate body functions and do not cause any other health repercussions. As a result, patients who are non-responsive to medications or suffer from extreme side effects are shifting towards these medicines, driving the market growth.
Moreover, these medicines offer precise and targeted therapy with fewer side effects than traditional pharmacological approaches. Therefore, patients with long-term illnesses would continue to use these medicines, enhancing market growth in the forecast period as well.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Electroceuticals/Bioelectric Medicine Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Method
- Renewable Electricity– Market Size & Forecast 2024-2030F (Thousand Tons)
- Recycled Aluminum– Market Size & Forecast 2024-2030F (Thousand Tons)
- By End Users
- Automotive– Market Size & Forecast 2024-2030F (Thousand Tons)
- Construction– Market Size & Forecast 2024-2030F (Thousand Tons)
- Electronics– Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Cans & Packaging, Aerospace, etc.) – Market Size & Forecast 2024-2030F (Thousand Tons)
- By Source of Energy
- Solar– Market Size & Forecast 2024-2030F (Thousand Tons)
- Hydro– Market Size & Forecast 2024-2030F (Thousand Tons)
- Wind– Market Size & Forecast 2024-2030F (Thousand Tons)
- Recycled – Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Carbon Capture Storage, etc)
- By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Boston Scientific Corporation, Medtronic, Abbott, Cochlear Limited, Livanova Plc, Sonova, Axonics, Inc., Electrocore Inc., Neuropace Inc., Medico SRL, Biotronik, Aleva Neurotherapeutics, Neurosigma Inc., Biowave Corporation, Softerix Medical Inc., and others
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