Press release
Rising Healthcare Expenditure Driving Bioelectric Medicine Market Growth: The Driving Engine Behind Bioelectric Medicine Market Evolution in 2025
Bioelectric Medicine
Bioelectric Medicine Market Size Growth Forecast: What to Expect by 2025?
The overall valuation of the bioelectric medicine sector has experienced considerable expansion lately, projected to ascend from $24.69 billion in 2024 to reach $26.81 billion by 2025, reflecting an annual compounded growth rate (CAGR) of 8.6%; this robust expansion throughout the preceding years is attributable to several factors, including an aging global population, rising levels of disposable income, the escalating need for supplementary treatment modalities, the growing incidence of various neurological conditions, and a rising requirement for advanced therapeutic solutions.
How Will the Bioelectric Medicine Market Size Evolve and Grow by 2029?
Significant expansion is anticipated for the bioelectric medicine market in the coming years, projected to reach a value of $36.85 billion by 2029, fueled by a compound annual growth rate (CAGR) of 8.3%; this upward trajectory is underpinned by several factors, notably the rising need for therapeutic methods that do not require invasive procedures, escalating global spending on healare, a larger patient demographic, the widespread incidence of long-term illnesses, and greater public familiarity with novel healare technologies, while prevailing market dynamics are characterized by progress in technology, the merging of remote care with digital health platforms, augmented investment and financial backing, improvements in devices designed for implantation, and a trend toward device reduction in physical size.
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What Drivers Are Propelling the Growth of Bioelectric Medicine Market Forward?
Anticipated escalation in spending on healare is projected to boost the expansion of the bioelectric medicine sector in the future period. Healare expenditure signifies the aggregate financial outlay allocated to healare resources and services over a specific duration. This surge in healare spending is driven by several elements, including demographic shifts towards an older population, progress in medical innovation, and the growing incidence of long-term illnesses. Elevated healare expenditure has a favorable effect on bioelectric medicine by stimulating augmented financial commitment towards exploring, creating, and implementing novel bioelectric treatment modalities. To illustrate this, spending on healare within the United Kingdom reached about $354.88 billion (£283 billion) in 2022, representing a 0.7% rise from the previous year's figures, as reported by the Office for National Statistics, which is the UK's official body for statistics, in 2022. Consequently, this upward trend in healare costs is set to be a primary impetus for the forward movement of the bioelectric medicine market.
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Which Emerging Trends Are Transforming the Bioelectric Medicine Market in 2025?
A key strategy employed by prominent firms within the bioelectric medicine sector is the pursuit of innovation in technology, particularly through the development of software-driven bioelectric medical solutions aimed at general wellness, as a means to secure a superior market position. This type of software-enabled general wellness medical technology furnishes patients with exact directions pertinent to deep brain stimulation therapy processes, assisting with everything from preoperative surgical blueprints to in-theater electrode positioning and personalizing the setup of deep brain stimulation treatments. To illustrate, in July of 2023, the US-based entity specializing in bioelectric medicine and well-being, Boston Scientific Corporation, reported the US FDA's authorization for its Vercise Neural Navigator 5 Software. This particular software introduces sophisticated capabilities designed for highly accurate localization and adjustment of parameters for deep brain stimulation (DBS) treatment; it merges diagnostic imagery with stimulation specifications, facilitating bespoke interventions for various neurological conditions, which consequently ensures meticulous electrode insertion, exact support during the surgical preparation phase, and individually calibrated programming, thereby boosting the efficacy of the therapy and patient contentment levels.
What Are the Key Segments in the Bioelectric Medicine Market?
The bioelectric medicinemarket covered in this report is segmented -
1) By Type: Implantable Electroceutical Devices; Non-Invasive Electroceutical Devices
2) By Product: Implantable Cardioverter-Defibrillators; Cardiac Pacemakers; Cochlear Implants; Spinal Cord Stimulators; Deep Brain Stimulators; Transcutaneous Electrical Nerve Stimulators (TENS); Sacral Nerve Stimulators; Vagus Nerve Stimulators; Other Products
3) By Application: Arrhythmia; Pain Management; Sensorineural Hearing Loss; Parkinson's Disease; Tremor; Depression; Treatment-Resistant Depression; Epilepsy; Other Applications
4) By End Use: Hospitals; Other End Uses
Subsegments:
1) By Implantable Electroceutical Devices: Cochlear Implants; Deep Brain Stimulation (DBS) Devices; Spinal Cord Stimulation (SCS) Devices; Vagus Nerve Stimulation (VNS) Devices; Retinal Implants; Neuromodulation Devices
2) By Non-Invasive Electroceutical Devices: Transcranial Magnetic Stimulation (TMS) Devices; Transcutaneous Electrical Nerve Stimulation (TENS) Devices; Electrotherapy Devices; Pulsed Electromagnetic Field (PEMF) Therapy Devices; Electroceutical Wearables
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Who Are the Key Players Shaping the Bioelectric Medicine Market's Competitive Landscape?
Major companies operating in the bioelectric medicine market are Abbott Laboratories, Medtronic PLC, Koninklijke Philips N.V., Boston Scientific Corporation, Biotronik SE & Co. KG, Cochlear Ltd., LivaNova PLC, Bioventus LLC, Inspire Medical Systems Inc., Nevro Corporation, Axonics Inc., Zynex Inc., NeuroPace Inc., Stimwave LLC, Setpoint Medical Corporation, ReShape Lifesciences Inc., ElectroCore Inc., NeuroMetrix Inc., Soterix Medical Inc., Galvani Bioelectronics, MicroTransponder Inc., BioElectronics Corporation, Cerbomed GmbH
What Geographic Markets Are Powering Growth in the Bioelectric Medicine Market?
North America was the largest region in the bioelectric medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bioelectric medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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