The European electroceuticals market is expected to grow at a CAGR of 7.0% during the forecast period. The market is growing owing to the well-developed healthcare infrastructure and supportive government policies such as the Affordable Care Act. Furthermore, the presence of favorable reimbursement policies also estimated to drive the growth of the market in the region. Rising geriatric population is another major factor that is expected to surge the market growth during the forecast period. The elderly population is at increased risk of developing various diseases such as Parkinson’s disease, Alzheimer’s, Cardiac arrhythmias, and epilepsy.
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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 the End-user segment, the market is segmented into hospitals & clinics and home care and others. Abbott Laboratories Inc., Advanced Bionics AG, Axonics Modulation Technologies Inc., Boston Scientific Corp., BioElectronics Corp., Cochlear Ltd. are the manufacturer, and supplier of medical devices such as a pacemaker, defibrillator, vagus nerve stimulators and has its facilities in more than 40 countries and includes over 100 brands in its product portfolio.
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European Electroceuticals 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-Users
- Hospitals and Clinics
- Homecare and Other
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