North American electroceuticals market is expected to grow at a CAGR of 7.0% during the forecast period. The market growth in North America can be attributed to the rising geriatric population, frequent US FDA approvals for innovative electroceutical devices, and growing adoption of minimally invasive/non-invasive surgeries for treatment of several diseases owing to growing awareness among patients related to electroceuticals. Furthermore, according to the Heart & Stroke Foundation in Canada, 1.6 million fatalities occur every year due to stroke and at least 1.3 million Canadians live with heart disease. Moreover, the rate of adoption of advanced techniques is the highest in North America. This fact is further supporting the growth of electroceuticals market in North America.
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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.
These players adopt various strategies in order to remain competitive in the global market. Some of the strategies followed by market players include mergers and acquisitions, product offering expansion, geographical expansion, and partnerships and collaborations. In August 2019, Stanford initiated the responsive neuromodulation to control overeating. It will study the feasibility of using NeuroPace’s RNS responsive neuromodulation system to stimulate the nucleus accumbens to control overeating in people with treatment-refractory obesity.
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North American 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-User
· Hospitals and Clinics
· Homecare and Other
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
