The North America Bioelectric Medicine Market would witness market growth of 5.5% CAGR during the forecast period (2023-2030).
The scope of the market is broad and dynamic, encompassing a wide array of medical specialties and therapeutic areas. Neurology, pain management, cardiology, and endocrinology are prominent fields where bioelectric interventions are making significant inroads. The versatility of bioelectric therapies positions them as potential solutions for an extensive range of diseases and conditions, from central nervous system disorders to metabolic and cardiovascular ailments.
Furthermore, chronic pain is a pervasive and challenging condition that often requires long-term management. Bioelectric interventions, such as spinal cord and peripheral nerve stimulation, offer alternative approaches to alleviate pain and improve patient's quality of life without relying solely on pharmaceutical interventions. Stimulation of the spinal cord is accomplished via implantation of a miniature apparatus, commonly known as a neurostimulator, which supplies the spinal cord with electrical impulses.
Moreover, as the Canadian population ages, there is a higher incidence of chronic and age-related health conditions such as chronic pain, neurodegenerative disorders, and cardiovascular diseases. Bioelectric medicines, with their potential applications in pain management, neurological interventions, and cardiovascular health, become increasingly relevant in addressing the unique healthcare needs of the elderly. As per Statistics Canada, in 2022, there were 7,330,605 people aged 65 and older in Canada. Moreover, over 861,000 people aged 85 and older were counted in the 2021 Census, more than twice the number observed in the 2001 Census. Thus, the rising number of arrhythmia cases and the aging population in North America will boost the demand for bioelectric medicines in the region.
The US market dominated the North America Bioelectric Medicine Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $9,240.1 million by 2030. The Canada market is registering a CAGR of 7.8% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 6.9% during (2023 - 2030).
Based on Type, the market is segmented into Implantable Electroceutical Devices, and Non-invasive Electroceutical Devices. Based on End-use, the market is segmented into Hospitals, and Others. Based on Product, the market is segmented into Implantable Cardioverter Defibrillators & Cardiac Pacemakers, Spinal Cord Stimulators, Cochlear Implants, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Sacral & Vagus Nerve Stimulators, and Others. Based on Application, the market is segmented into Arrhythmia, Pain Management, Sensorineural Hearing Loss, Tremor & Epilepsy, Parkinson’s Disease, Depression, Treatment-resistant Depression, Urinary & Fecal Incontinence, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Bioelectric Medicine Market is Predict to reach $31.7 billion by 2030, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Abbott Laboratories, Boston Scientific Corporation, Cochlear Ltd., LivaNova PLC, Koninklijke Philips N.V., Biotronik SE & Co. KG, Sonova Holding AG, Nevro Corporation, and electroCore, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Implantable Electroceutical Devices
- Non-invasive Electroceutical Devices
By End-use
By Product
- Implantable Cardioverter Defibrillators & Cardiac Pacemakers
- Spinal Cord Stimulators
- Cochlear Implants
- Deep Brain Stimulators
- Transcutaneous Electrical Nerve Stimulators
- Sacral & Vagus Nerve Stimulators
- Others
By Application
- Arrhythmia
- Pain Management
- Sensorineural Hearing Loss
- Tremor & Epilepsy
- Parkinson’s Disease
- Depression
- Treatment-resistant Depression
- Urinary & Fecal Incontinence
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Medtronic PLC
- Abbott Laboratories
- Boston Scientific Corporation
- Cochlear Ltd.
- LivaNova PLC
- Koninklijke Philips N.V.
- Biotronik SE & Co. KG
- Sonova Holding AG
- Nevro Corporation
- electroCore, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Bioelectric Medicine Market, by Type
1.4.2 North America Bioelectric Medicine Market, by End-use
1.4.3 North America Bioelectric Medicine Market, by Product
1.4.4 North America Bioelectric Medicine Market, by Application
1.4.5 North America Bioelectric Medicine Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.2.4 Geographical Expansions
4.2.5 Approvals and trials
4.3 Top Winning Strategies
4.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, May – 2021, Nov) Leading Players
4.4 Porter’s Five Force Analysis
Chapter 5. North America Bioelectric Medicine Market by Type
5.1 North America Implantable Electroceutical Devices Market by Region
5.2 North America Non-invasive Electroceutical Devices Market by Region
Chapter 6. North America Bioelectric Medicine Market by End-use
6.1 North America Hospitals Market by Region
6.2 North America Others Market by Region
Chapter 7. North America Bioelectric Medicine Market by Product
7.1 North America Implantable Cardioverter Defibrillators & Cardiac Pacemakers Market by Country
7.2 North America Spinal Cord Stimulators Market by Country
7.3 North America Cochlear Implants Market by Country
7.4 North America Deep Brain Stimulators Market by Country
7.5 North America Transcutaneous Electrical Nerve Stimulators Market by Country
7.6 North America Sacral & Vagus Nerve Stimulators Market by Country
7.7 North America Others Market by Country
Chapter 8. North America Bioelectric Medicine Market by Application
8.1 North America Arrhythmia Market by Country
8.2 North America Pain Management Market by Country
8.3 North America Sensorineural Hearing Loss Market by Country
8.4 North America Tremor & Epilepsy Market by Country
8.5 North America Parkinson’s Disease Market by Country
8.6 North America Depression Market by Country
8.7 North America Treatment-resistant Depression Market by Country
8.8 North America Urinary & Fecal Incontinence Market by Country
8.9 North America Others Market by Country
Chapter 9. North America Bioelectric Medicine Market by Country
9.1 US Bioelectric Medicine Market
9.1.1 US Bioelectric Medicine Market by Type
9.1.2 US Bioelectric Medicine Market by End-use
9.1.3 US Bioelectric Medicine Market by Product
9.1.4 US Bioelectric Medicine Market by Application
9.2 Canada Bioelectric Medicine Market
9.2.1 Canada Bioelectric Medicine Market by Type
9.2.2 Canada Bioelectric Medicine Market by End-use
9.2.3 Canada Bioelectric Medicine Market by Product
9.2.4 Canada Bioelectric Medicine Market by Application
9.3 Mexico Bioelectric Medicine Market
9.3.1 Mexico Bioelectric Medicine Market by Type
9.3.2 Mexico Bioelectric Medicine Market by End-use
9.3.3 Mexico Bioelectric Medicine Market by Product
9.3.4 Mexico Bioelectric Medicine Market by Application
9.4 Rest of North America Bioelectric Medicine Market
9.4.1 Rest of North America Bioelectric Medicine Market by Type
9.4.2 Rest of North America Bioelectric Medicine Market by End-use
9.4.3 Rest of North America Bioelectric Medicine Market by Product
9.4.4 Rest of North America Bioelectric Medicine Market by Application
Chapter 10. Company Profiles
10.1 Medtronic PLC
10.1.1 Company overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Product Launches and Product Expansions:
10.1.5.3 Acquisition and Mergers:
10.1.5.4 Trials:
10.1.6 SWOT Analysis
10.2 Abbott Laboratories
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.5.2 Product Launches and Product Expansions:
10.2.5.3 Approvals:
10.2.6 SWOT Analysis
10.3 Boston Scientific Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments:
10.3.5.1 Product Launches and Product Expansions:
10.3.5.2 Acquisition and Mergers:
10.3.6 SWOT Analysis
10.4 Cochlear Ltd.
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expense
10.4.5 Recent strategies and developments:
10.4.5.1 Product Launches and Product Expansions:
10.4.5.2 Geographical Expansions:
10.4.6 SWOT Analysis
10.5 LivaNova PLC
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 SWOT Analysis
10.6 Koninklijke Philips N.V.
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Segmental and Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.5.1 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Biotronik SE & Co. KG
10.7.1 Company Overview
10.7.2 SWOT Analysis
10.8 Sonova Holding AG
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Segmental and Regional Analysis
10.8.4 Research & Development Expenses
10.8.5 Recent strategies and developments:
10.8.5.1 Geographical Expansions:
10.8.6 SWOT Analysis
10.9 Nevro Corporation
10.9.1 Company Overview
10.9.2 Financial Analysis
10.9.3 Regional Analysis
10.9.4 Research & Development Expense
10.9.5 Recent strategies and developments:
10.9.5.1 Approvals:
10.9.6 SWOT Analysis
10.10. electroCore, Inc.
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Regional Analysis
10.10.4 Research & Development Expenses
10.10.5 Recent strategies and developments:
10.10.5.1 Partnerships, Collaborations, and Agreements:
10.10.5.2 Product Launches and Product Expansions:
10.10.6 SWOT Analysis
TABLE 1 North America Bioelectric Medicine Market, 2019 - 2022, USD Million
TABLE 2 North America Bioelectric Medicine Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Bioelectric Medicine Market
TABLE 4 Product Launches And Product Expansions– Bioelectric Medicine Market
TABLE 5 Acquisition and Mergers– Bioelectric Medicine Market
TABLE 6 Geographical Expansions– Bioelectric Medicine Market
TABLE 7 Approvals and trials: Bioelectric Medicine Market
TABLE 8 North America Bioelectric Medicine Market by Type, 2019 - 2022, USD Million
TABLE 9 North America Bioelectric Medicine Market by Type, 2023 - 2030, USD Million
TABLE 10 North America Implantable Electroceutical Devices Market by Region, 2019 - 2022, USD Million
TABLE 11 North America Implantable Electroceutical Devices Market by Region, 2023 - 2030, USD Million
TABLE 12 North America Non-invasive Electroceutical Devices Market by Region, 2019 - 2022, USD Million
TABLE 13 North America Non-invasive Electroceutical Devices Market by Region, 2023 - 2030, USD Million
TABLE 14 North America Bioelectric Medicine Market by End-use, 2019 - 2022, USD Million
TABLE 15 North America Bioelectric Medicine Market by End-use, 2023 - 2030, USD Million
TABLE 16 North America Hospitals Market by Region, 2019 - 2022, USD Million
TABLE 17 North America Hospitals Market by Region, 2023 - 2030, USD Million
TABLE 18 North America Others Market by Region, 2019 - 2022, USD Million
TABLE 19 North America Others Market by Region, 2023 - 2030, USD Million
TABLE 20 North America Bioelectric Medicine Market by Product, 2019 - 2022, USD Million
TABLE 21 North America Bioelectric Medicine Market by Product, 2023 - 2030, USD Million
TABLE 22 North America Implantable Cardioverter Defibrillators & Cardiac Pacemakers Market by Country, 2019 - 2022, USD Million
TABLE 23 North America Implantable Cardioverter Defibrillators & Cardiac Pacemakers Market by Country, 2023 - 2030, USD Million
TABLE 24 North America Spinal Cord Stimulators Market by Country, 2019 - 2022, USD Million
TABLE 25 North America Spinal Cord Stimulators Market by Country, 2023 - 2030, USD Million
TABLE 26 North America Cochlear Implants Market by Country, 2019 - 2022, USD Million
TABLE 27 North America Cochlear Implants Market by Country, 2023 - 2030, USD Million
TABLE 28 North America Deep Brain Stimulators Market by Country, 2019 - 2022, USD Million
TABLE 29 North America Deep Brain Stimulators Market by Country, 2023 - 2030, USD Million
TABLE 30 North America Transcutaneous Electrical Nerve Stimulators Market by Country, 2019 - 2022, USD Million
TABLE 31 North America Transcutaneous Electrical Nerve Stimulators Market by Country, 2023 - 2030, USD Million
TABLE 32 North America Sacral & Vagus Nerve Stimulators Market by Country, 2019 - 2022, USD Million
TABLE 33 North America Sacral & Vagus Nerve Stimulators Market by Country, 2023 - 2030, USD Million
TABLE 34 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 35 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 36 North America Bioelectric Medicine Market by Application, 2019 - 2022, USD Million
TABLE 37 North America Bioelectric Medicine Market by Application, 2023 - 2030, USD Million
TABLE 38 North America Arrhythmia Market by Country, 2019 - 2022, USD Million
TABLE 39 North America Arrhythmia Market by Country, 2023 - 2030, USD Million
TABLE 40 North America Pain Management Market by Country, 2019 - 2022, USD Million
TABLE 41 North America Pain Management Market by Country, 2023 - 2030, USD Million
TABLE 42 North America Sensorineural Hearing Loss Market by Country, 2019 - 2022, USD Million
TABLE 43 North America Sensorineural Hearing Loss Market by Country, 2023 - 2030, USD Million
TABLE 44 North America Tremor & Epilepsy Market by Country, 2019 - 2022, USD Million
TABLE 45 North America Tremor & Epilepsy Market by Country, 2023 - 2030, USD Million
TABLE 46 North America Parkinson’s Disease Market by Country, 2019 - 2022, USD Million
TABLE 47 North America Parkinson’s Disease Market by Country, 2023 - 2030, USD Million
TABLE 48 North America Depression Market by Country, 2019 - 2022, USD Million
TABLE 49 North America Depression Market by Country, 2023 - 2030, USD Million
TABLE 50 North America Treatment-resistant Depression Market by Country, 2019 - 2022, USD Million
TABLE 51 North America Treatment-resistant Depression Market by Country, 2023 - 2030, USD Million
TABLE 52 North America Urinary & Fecal Incontinence Market by Country, 2019 - 2022, USD Million
TABLE 53 North America Urinary & Fecal Incontinence Market by Country, 2023 - 2030, USD Million
TABLE 54 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 55 North America Others Market by Country, 2023 - 2030, USD Million
TABLE 56 North America Bioelectric Medicine Market by Country, 2019 - 2022, USD Million
TABLE 57 North America Bioelectric Medicine Market by Country, 2023 - 2030, USD Million
TABLE 58 US Bioelectric Medicine Market, 2019 - 2022, USD Million
TABLE 59 US Bioelectric Medicine Market, 2023 - 2030, USD Million
TABLE 60 US Bioelectric Medicine Market by Type, 2019 - 2022, USD Million
TABLE 61 US Bioelectric Medicine Market by Type, 2023 - 2030, USD Million
TABLE 62 US Bioelectric Medicine Market by End-use, 2019 - 2022, USD Million
TABLE 63 US Bioelectric Medicine Market by End-use, 2023 - 2030, USD Million
TABLE 64 US Bioelectric Medicine Market by Product, 2019 - 2022, USD Million
TABLE 65 US Bioelectric Medicine Market by Product, 2023 - 2030, USD Million
TABLE 66 US Bioelectric Medicine Market by Application, 2019 - 2022, USD Million
TABLE 67 US Bioelectric Medicine Market by Application, 2023 - 2030, USD Million
TABLE 68 Canada Bioelectric Medicine Market, 2019 - 2022, USD Million
TABLE 69 Canada Bioelectric Medicine Market, 2023 - 2030, USD Million
TABLE 70 Canada Bioelectric Medicine Market by Type, 2019 - 2022, USD Million
TABLE 71 Canada Bioelectric Medicine Market by Type, 2023 - 2030, USD Million
TABLE 72 Canada Bioelectric Medicine Market by End-use, 2019 - 2022, USD Million
TABLE 73 Canada Bioelectric Medicine Market by End-use, 2023 - 2030, USD Million
TABLE 74 Canada Bioelectric Medicine Market by Product, 2019 - 2022, USD Million
TABLE 75 Canada Bioelectric Medicine Market by Product, 2023 - 2030, USD Million
TABLE 76 Canada Bioelectric Medicine Market by Application, 2019 - 2022, USD Million
TABLE 77 Canada Bioelectric Medicine Market by Application, 2023 - 2030, USD Million
TABLE 78 Mexico Bioelectric Medicine Market, 2019 - 2022, USD Million
TABLE 79 Mexico Bioelectric Medicine Market, 2023 - 2030, USD Million
TABLE 80 Mexico Bioelectric Medicine Market by Type, 2019 - 2022, USD Million
TABLE 81 Mexico Bioelectric Medicine Market by Type, 2023 - 2030, USD Million
TABLE 82 Mexico Bioelectric Medicine Market by End-use, 2019 - 2022, USD Million
TABLE 83 Mexico Bioelectric Medicine Market by End-use, 2023 - 2030, USD Million
TABLE 84 Mexico Bioelectric Medicine Market by Product, 2019 - 2022, USD Million
TABLE 85 Mexico Bioelectric Medicine Market by Product, 2023 - 2030, USD Million
TABLE 86 Mexico Bioelectric Medicine Market by Application, 2019 - 2022, USD Million
TABLE 87 Mexico Bioelectric Medicine Market by Application, 2023 - 2030, USD Million
TABLE 88 Rest of North America Bioelectric Medicine Market, 2019 - 2022, USD Million
TABLE 89 Rest of North America Bioelectric Medicine Market, 2023 - 2030, USD Million
TABLE 90 Rest of North America Bioelectric Medicine Market by Type, 2019 - 2022, USD Million
TABLE 91 Rest of North America Bioelectric Medicine Market by Type, 2023 - 2030, USD Million
TABLE 92 Rest of North America Bioelectric Medicine Market by End-use, 2019 - 2022, USD Million
TABLE 93 Rest of North America Bioelectric Medicine Market by End-use, 2023 - 2030, USD Million
TABLE 94 Rest of North America Bioelectric Medicine Market by Product, 2019 - 2022, USD Million
TABLE 95 Rest of North America Bioelectric Medicine Market by Product, 2023 - 2030, USD Million
TABLE 96 Rest of North America Bioelectric Medicine Market by Application, 2019 - 2022, USD Million
TABLE 97 Rest of North America Bioelectric Medicine Market by Application, 2023 - 2030, USD Million
TABLE 98 Key Information – Medtronic PLC
TABLE 99 Key Information – Abbott Laboratories
TABLE 100 Key Information – Boston Scientific Corporation
TABLE 101 key Information – Cochlear Ltd.
TABLE 102 Key Information – LivaNova PLC
TABLE 103 Key Information – Koninklijke Philips N.V.
TABLE 104 Key Information – Biotronik SE & Co. KG
TABLE 105 key Information – Sonova Holding AG
TABLE 106 Key Information – Nevro Corporation
TABLE 107 Key Information – electroCore, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Bioelectric Medicine Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Bioelectric Medicine Market
FIG 4 KBV Cardinal Matrix
FIG 5 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 6 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, May – 2021, Nov) Leading Players
FIG 7 Porter’s Five Force Analysis: Bioelectric Medicine Market
FIG 8 North America Bioelectric Medicine Market share by Type, 2022
FIG 9 North America Bioelectric Medicine Market share by Type, 2030
FIG 10 North America Bioelectric Medicine Market by Type, 2019 - 2030, USD Million
FIG 11 North America Bioelectric Medicine Market share by End-use, 2022
FIG 12 North America Bioelectric Medicine Market share by End-use, 2030
FIG 13 North America Bioelectric Medicine Market by End-use, 2019 - 2030, USD Million
FIG 14 North America Bioelectric Medicine Market share by Product, 2022
FIG 15 North America Bioelectric Medicine Market share by Product, 2030
FIG 16 North America Bioelectric Medicine Market by Product, 2019 - 2030, USD Million
FIG 17 North America Bioelectric Medicine Market share by Application, 2022
FIG 18 North America Bioelectric Medicine Market share by Application, 2030
FIG 19 North America Bioelectric Medicine Market by Application, 2019 - 2030, USD Million
FIG 20 North America Bioelectric Medicine Market share by Country, 2022
FIG 21 North America Bioelectric Medicine Market share by Country, 2030
FIG 22 North America Bioelectric Medicine Market by Country, 2019 - 2030, USD Million
FIG 23 Recent strategies and developments: Medtronic PLC
FIG 24 SWOT Analysis: Medtronic PLC
FIG 25 Recent strategies and developments: Abbott Laboratories
FIG 26 SWOT Analysis: Abbott Laboratories
FIG 27 Recent strategies and developments: Boston Scientific Corporation
FIG 28 SWOT Analysis: Boston Scientific Corporation
FIG 29 Recent strategies and developments: Cochlear Ltd.
FIG 30 SWOT Analysis: Cochlear Ltd.
FIG 31 SWOT Analysis: LivaNova PLC
FIG 32 SWOT Analysis: Koninklijke Philips N.V.
FIG 33 SWOT Analysis: Biotronik SE & Co. KG
FIG 34 SWOT Analysis: Sonova Holding AG
FIG 35 SWOT Analysis: NEVRO CORPORATION
FIG 36 Recent strategies and developments: electroCore, Inc.
FIG 37 SWOT Analysis: electroCore, Inc.