Current Business Affairs Global Electroceutical Devices Market 2018

Electroceutical Devices Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast To 2025
Market Definition:
Electroceuticals are a novel category of therapeutic agents/medical devices which target the neural circuits of organs
thereby stimulating the nerves and relieving or alleviating the body of various conditions. The therapy encompasses
mapping of neural circuitry and delivering neural impulses to specific targets. Electroceuticals are highly target specific
and affect the body temperature instead of affecting the body chemistry unlike pills which in turn leads to various side
effects and hence, are emerging as an alternative to pharmaceuticals.
Technological advancements in electroceutical products have propelled their adoption in treatment of medical
conditions associated with central nervous system and chronic diseases such as cardiac arrhythmias and Parkinson's. The
technologically advanced electroceuticals are highly efficient and reliable during treatment thereby propelling the
market growth. Increase in geriatric population prone to chronic medical conditions is also estimated to fuel the market
growth owing to various applications of electroceutical devices in providing better patient care.
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Market Analysis with Latest Growth Factors:
Cost effectiveness nature of this therapy is also a driving factor for augmenting the market growth. Furthermore,
growing investments and funds for the development of novel therapies by key players of the industry for developing
better electroceutical devices is anticipated to enhance the market growth. However, lack of self-regulating
measurement, miniaturization in terms of electrodes or chip which can interface with single nerve and the devices must
be wireless with elimination of traditional batteries are some of the challenges faced by electroceutical market.
The internal electroceutical segment is expected to hold the largest market revenue in 2015 and is projected to grow
during the forecast period at a high CAGR owing to technological advancement in wireless micro current stimulation,
wearable pain management technology, and miniaturization. Based on the application, the segment includes hearing
aids, gastroenterology & Urology, pain management, cardiology, central nervous system and others. The cardiology
segment is expected to account for the largest share of the market during the forecast period. On the basis of end-users,
the market is segmented into hospitals and home-care. The hospitals segment is expected to hold the largest share of
the market over the forecast period whereas the individual users segment is anticipated to be the fastest growing
market.
Also, heavy investment made by various private and government owned organization to fund the research on
electroceutical products is also expected to drive the industry. For instance, GSK (GlaxoSmithKline) has invested $50