Asia-Pacific electroceuticals market is estimated to grow at a CAGR of around 8% during the forecast period. Moreover, increasing incidences of several health disorders such as spinal cord injuries, epilepsy, and other disorders are contributing to the growth of the electroceuticals market in the Asia-Pacific region. As per the estimation of the WHO, the incidence of Epilepsy is considerably high in emerging economies such as China and India. According to Epilepsia, the Official Journal of the International League Against Epilepsy, out of the around 4 billion people living in the Asia-Pacific region, about 23 million people had epilepsy in 2017. A large number of patients having epilepsy is driving market growth in Asia-Pacific as electroceuticals can prove to be a better option for the treatment of the disease.
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Along with it, the healthcare infrastructure in the Asia-Pacific region is improving significantly owing to growing healthcare expenditure by individual and government along with rising insurance penetration which is expected to contribute significantly to the electroceutical market in the Asia-Pacific region. The emerging economies of Asia-Pacific, especially China and India are significantly investing in the development of innovative therapies. Also, the presence of various major market players operating in the Asia-Pacific region is boosting the market growth. For instance, Sonova Hearing (Suzhou) Co., Ltd., Sonova Japan Co, Ltd., Hearing Retail Group Pty. Ltd., Sonova Australia Pty Ltd., Sonova (Shanghai) Company, Ltd., and Triton Hearing, Ltd. are the subsidiaries of Sonova group operating in Asia-Pacific region.
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The market is segmented on the basis of product and end-user. On the basis of product, the market is segmented into cardioverter defibrillators and cardiac pacemaker, deep brain stimulators (DBS), spinal cord stimulators (SCS), vagus nerve stimulators, hearing aids, and cochlear implants, and others such as sacral nerve stimulators, and transcutaneous electrical nerve stimulators. By End-user segment, the market is segmented into hospitals & clinics and homecare and other. Few players operating in the Asia-Pacific electroceuticals market include Medtronic PLC, Abbott Laboratories Inc., Boston Scientific Corp., LivaNova PLC, Cochlear, Ltd., Sonova Holding AG, Nevro Corp., ElectroCore LLC, and BioElectronics Corp.
Market Segmentation
By Product and its Application
Cardioverter Defibrillators and Cardiac Pacemaker
- Arrhythmias
Deep Brain Stimulators
- Parkinson’s Disease
- Depression
Spinal Cord Stimulators
- Failed Back Syndrome
- Ischemia
Vagus Nerve Stimulators
- Epilepsy
Cochlear Implants
- Sensorineural Hearing Loss
Others (Sacral Nerve Stimulators, Transcutaneous Electrical Nerve Stimulators)
- Urinary Incontinence
- Treatment-Resistant Depression
By End-User
- Hospitals and Clinics
- Homecare and Other
Regional Analysis
- China
- Japan
- India
- Rest of Asia-Pacific
Company Profiles
- Abbott Laboratories, Inc.
- Advanced Bionics AG
- Boston Scientific Corp.
- Cochlear, Ltd.
- Demant A/S
- Edwards Lifesciences Corp.
- Getinge AB
- GlaxoSmithKline PLC
- Medtronic PLC
- Sonova Holding AG
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
