The Global ElectroceuticalDevices Market, by Product Type (Cardiac Pacemakers, ImplantableCardioverter Defibrillators, Cardiac Resynchronization Therapy Devices, RetinalImplants, Cochlear Implants, Spinal cord Stimulators, Deep brain Stimulators,Sacral Neuromodulators and Others), by Modality (Implantable ElectroceuticalDevices and Non-Invasive Electroceutical Devices), by Application (ChronicPain, Cardiovascular Diseases, Ophthalmic Diseases, Neurological Diseases,Hearing Disorders and Gastrointestinal Diseases), By End User (Hospitals,Ambulatory Surgical Centers and Others), was valued US$ 17.1 billion in 2018,and is projected to exhibit a CAGR of 6.8% over the forecast period (2018 -2026). Electroceuticals are medical devices, which employ electrical currentsto affect and modify body functions as an alternative to drug-basedinterventions. In contrast to pacemakers and other classical excitable-tissuestimulators, modern electroceutical devices employ sophisticated controlstrategies in order to modulate physiological regulation. For instance,modulation of cardiac contractility as a therapy for heart failure, modulationof gastric contractility as a therapy for diabetes, and modulation of vagusnerve traffic as a therapy for epilepsy and inflammatory diseases. Marketplayers are actively investing in research and development to develop moreefficient and innovative electroceutical devices and also retaining organic andin-organic strategies, which thereby offer lucrative opportunities in thismarket.
For instance, in November 2017,LivaNova PLC and MicroPort Scientific Corporation entered into a binding Letterof Intent (LOI) to sale LivaNova’s Cardiac Rhythm Management (CRM) businessfranchise to MicroPort for US$ 190 million. Company’s CRM product portfolioincludes pacemakers, high-voltage defibrillators, and cardiac resynchronizationtherapy devices. The acquisition helps MicroPort to add these diverse cardiacrhythm management portfolio to their existing product portfolio. In August 2014, Medtronic plc completedacquisition of Sapiens Steering Brain Stimulation (Sapiens SBS): a developer ofDeep Brain Stimulation (DBS) technologies; for deal value of US$ 200 million.Moreover, acquisition of Sapiens SBS strengthens Medtronic's capabilities inmodulation of brain function.
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Browse 32 Market Data Tables and36 Figures spread through 192 Pages and in-depth TOC on "ElectroceuticalDevices Market, by Product Type (Cardiac Pacemakers, Implantable CardioverterDefibrillators, Cardiac Resynchronization Therapy Devices, Retinal Implants,Cochlear Implants, Spinal cord Stimulators, Deep brain Stimulators, SacralNeuromodulators and Others), by Modality (Implantable Electroceutical Devicesand Non-Invasive Electroceutical Devices), by Application (Chronic Pain,Cardiovascular Diseases, Ophthalmic Diseases, Neurological Diseases, HearingDisorders and Gastrointestinal Diseases), By End User (Hospitals, AmbulatorySurgical Centers and Others) - GlobalForecast to 2026"
Furthermore, key players areengaged in launching innovative electroceutical devices portfolio in marketalong with gaining regulatory approval for the same. For instance, in November 2017, Medtronic plcreceived U.S. Food and Drug Administration (FDA) approval for their portfolioof Azure pacemakers with BlueSync technology, which is available in both singleand dual chamber cardiac pacemakers. Company’s new Azure XT MRI and Azure S MRIpacemakers offer improved longevity, which is an estimated at 13.7 years (dualchamber). Moreover, in November 2017, Cochlear Limited; received the U.S.FDAapproval for first remote feature to nucleus cochlear implant system thorough atelemedicine platform, which allow follow-up programming sessions. Thisapproval is first in the artificial cochlear implant industry, benefitingvarious cochlear implant patients who are unable to access consistentfollow-ups. Furthermore, manufacturers of implantable cardiac pacemakers are updatingtheir product portfolio by implementing inorganic growth strategies to sustaintheir foothold in the market. In April 2016, Medtronic plc received U.S.FDAapproval for the world's smallest pacemaker, the Medtronic Micra TranscatheterPacing System (TPS). The Micra TPS is based on miniaturized pacing technology,which allows it to be delivered through a catheter and implanted directly intothe heart.
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Key takeaways of the ElectroceuticalDevices Market:
The global electroceuticaldevices market is expected to expand at a CAGR of 8.0% during the forecastperiod (2018 – 2026), owing to growing engagement of various market players todevelop innovative electroceutical devices
Among product segment,implantable cardioverter defibrillators segment accounted for high revenueshare in market, owing to its wide application in various heart diseaseconditions. According to American Heart Association (AHA), implantablecardioverter defibrillator play major role in preventing cardiac arrest inhigh-risk patients of ventricular arrhythmias.
Implantable electroceuticaldevices hold major market share in modality segment. Implantableelectroceutical devices are being used for long period, along with that thesedevices offer continuous treatment within the patient’s body and provides easyenvironment for easy treatment of patients.
On the basis of applicationsegment, electroceutical devices market is segmented into product such ascardiac pacemakers and implantable cardioverter defibrillators (used for AtrialFibrillation, Coronary Artery Disease), cochlear implants (used forsensorineural hearing loss), retinal implants (used for retinal pigmentosa),spinal cord stimulators (used for chronic pain, failed back surgery, andischemia), deep brain stimulators (used for Parkinson's disease, tremors,depression, and others), and other electric stimulators (used for gastroparesis, obesity, depression, migraine headaches, and spinal cord injuries).
Hospitals hold major market sharein end user segment, owing to increased number of electroceutical devicesimplant procedures in hospitals.
Some of the major playersoperating in global electroceutical devices market include Medtronic plc,Abbott Laboratories, Cochlear Ltd. Sonova Holding AG, Advanced Bionics AG,Boston Scientific Corporation, electroCore, Inc., Biotronik, ReShapeLifesciences, Inc., and LivaNova, PLC.
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