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North America Bioelectric Medicine Market 2020-2030 by Product Type (Implantable, Non-invasive), End User, and Country: Trend Forecast and Growth Opportunity

Published: 30 Dec 2021 | Report Code: 10247658 | Pages: 136

Bioelectric medicines, also known as Electroceuticals, are medical devices that are used to restore health in patients.  Bioelectric medicines function through neurostimulation and modulation of the nervous systems through electrical impulses. North America Bioelectric Medicine Market is projected to grow by 7.0% annually in the forecast period and reach $15.82 billion by 2030 owing to the growing geriatric population and rising acceptance of bioelectric medicines.


Highlighted with 63 tables and 39 figures, this 136-page report “North America Bioelectric Medicine Market 2020-2030 by Product Type (Implantable, Non-invasive), End User, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire North America bioelectric medicine market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate/forecast from 2020 till 2030 with 2019 as the base year. 


In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure 
• Growth Drivers 
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Five Forces


The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify North America bioelectric medicine market in every aspect of the classification from perspectives of Product Type, End User, and Country.


Based on Product Type, the North America market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.
• Implantable Bioelectric Medicine
  o Cardiac Pacemaker
  o Implantable Cardioverter Defibrillators (ICD)
  o Spinal Cord Stimulators (split into Chronic Pain, Failed Back Syndrome (FBSS), Ischemia by application)
  o Cochlear Implants
  o Deep Brain Stimulators (split into Parkinson’s Disease, Tremor, Depression, Other Deep Brain Stimulation Applications by application)
  o Vagus Nerve Stimulators
  o Sacral Nerve Stimulators (split into Urinary Incontinence and Fecal Incontinence by application)
  o Retinal Implants
  o Other Implantable Bioelectric Medicines
• Non-invasive Bioelectric Medicine
  o Transcutaneous Electrical Nerve Stimulators
  o Transcranial Magnetic Stimulation (TMS)
  o Pulsed Electromagnetic Field Therapy
  o Other Non-invasive Bioelectric Medicines


Based on End User, the North America market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section. 
• Hospitals and Clinics
• Research Institutes
• Individual Users


Geographically, the following national/local markets are fully investigated:
• U.S.
• Canada
• Mexico
For each key country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown of the regional market by country and split of key national markets by Product Type and End User over the forecast years are also included.


The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Specifically, potential risks associated with investing in North America bioelectric medicine market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.


Key Players (this may not be a complete list and extra companies can be added upon request): 
Abbott Laboratories    
BIOTRONIK SE & Co. KG    
Boston Scientific Corporation    
Cochlear Limited    
electroCore, Inc.    
Inspire Medical Systems, Inc.    
LivaNova PLC    
Medtronic PLC    
NeuroMetrix, Inc    
Nevro Corp.    
Nuvectra Corporation    
OMRON CORPORATION    
Pixium Vision    
Second Sight Medical Products Inc    
SetPoint Medical    
Sonova Holding AG    
St. Jude Medical, Inc.    
Stimwave LLC

(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

Table Of Contents:
1 Introduction    6
1.1 Industry Definition and Research Scope    6
1.1.1 Industry Definition    6
1.1.2 Research Scope    7
1.2 Research Methodology    10
1.2.1 Overview of Market Research Methodology    10
1.2.2 Market Assumption    11
1.2.3 Secondary Data    11
1.2.4 Primary Data    11
1.2.5 Data Filtration and Model Design    12
1.2.6 Market Size/Share Estimation    13
1.2.7 Research Limitations    14
1.3 Executive Summary    15
2 Market Overview and Dynamics    17
2.1 Market Size and Forecast    17
2.1.1 Impact of COVID-19 on World Economy    18
2.1.2 Impact of COVID-19 on the Market    20
2.2 Major Growth Drivers    22
2.3 Market Restraints and Challenges    28
2.4 Emerging Opportunities and Market Trends    31
2.5 Porter’s Fiver Forces Analysis    35
3 Segmentation of North America Market by Product Type    39
3.1 Market Overview by Product Type    39
3.2 Implantable Bioelectric Medicine    41
3.2.1 Cardiac Pacemaker    43
3.2.2 Implantable Cardioverter Defibrillators (ICD)    44
3.2.3 Spinal Cord Stimulators    45
3.2.4 Cochlear Implants    46
3.2.5 Deep Brain Stimulators    47
3.2.6 Vagus Nerve Stimulators    48
3.2.7 Sacral Nerve Stimulators    49
3.2.8 Retinal Implants    50
3.2.9 Other Implantable Bioelectric Medicines    51
3.3 Non-invasive Bioelectric Medicine    52
3.3.1 Transcutaneous Electrical Nerve Stimulators    54
3.3.2 Transcranial Magnetic Stimulation (TMS)    55
3.3.3 Pulsed Electromagnetic Field Therapy    56
3.3.4 Other Non-invasive Bioelectric Medicines    57
4 Segmentation of North America Market by End User    58
4.1 Market Overview by End User    58
4.2 Hospitals and Clinics    60
4.3 Research Institutes    61
4.4 Individual Users    62
5 North America Market 2020-2030 by Country    63
5.1 Overview of North America Market    63
5.2 U.S.    66
5.3 Canada    72
5.4 Mexico    74
6 Competitive Landscape    76
6.1 Overview of Key Vendors    76
6.2 New Product Launch, Partnership, Investment, and M&A    82
6.3 Company Profiles    83
Abbott Laboratories    83
BIOTRONIK SE & Co. KG    86
Boston Scientific Corporation    90
Cochlear Limited    94
electroCore, Inc.    97
Inspire Medical Systems, Inc.    99
LivaNova PLC    101
Medtronic PLC    103
NeuroMetrix, Inc    107
Nevro Corp.    109
Nuvectra Corporation    111
OMRON CORPORATION    113
Pixium Vision    116
Second Sight Medical Products Inc    119
SetPoint Medical    122
Sonova Holding AG    124
St. Jude Medical, Inc.    126
Stimwave LLC    128
7 Investing in North America Market: Risk Assessment and Management    130
7.1 Risk Evaluation of North America Market    130
7.2 Critical Success Factors (CSFs)    133
Related Reports and Products    136

 

List Of Tables:

Table 1. Snapshot of North America Bioelectric Medicine Market in Balanced Perspective, 2020-2030    16
Table 2. Growth Rate of World GDP, 2020-2022    19
Table 3. Projection of North America Disease Incidences Treated by Bioelectric Medicine, 2019-2030, million    25
Table 4. World Health Spending by Region, $ bn, 2013-2020    27
Table 5. Selected Examples of Product Recalls    30
Table 6. Main Product Trends and Market Opportunities in North America Bioelectric Medicine Market    31
Table 7. North America Bioelectric Medicine Market by Product Type, 2019-2030, $ mn    39
Table 8. North America Implantable Bioelectric Medicine Market by Product Type, 2019-2030, $ mn    42
Table 9. North America Bioelectric Medicine Market: Spinal Cord Stimulators by Application, 2019-2030, $ mn    45
Table 10. North America Bioelectric Medicine Market: Deep Brain Stimulators by Application, 2019-2030, $ mn    47
Table 11. North America Bioelectric Medicine Market: Sacral Nerve Stimulators by Application, 2019-2030, $ mn    49
Table 12. North America Non-invasive Bioelectric Medicine Market by Product Type, 2019-2030, $ mn    53
Table 13. North America Bioelectric Medicine Market by End User, 2019-2030, $ mn    58
Table 14. North America Bioelectric Medicine Market by Country, 2019-2030, $ mn    64
Table 15. U.S. Bioelectric Medicine Market by Product Type, 2019-2030, $ mn    68
Table 16. U.S. Bioelectric Medicine Market by End User, 2019-2030, $ mn    68
Table 17. Canada Bioelectric Medicine Market by Product Type, 2019-2030, $ mn    73
Table 18. Canada Bioelectric Medicine Market by End User, 2019-2030, $ mn    73
Table 19. Mexico Bioelectric Medicine Market by Product Type, 2019-2030, $ mn    75
Table 20. Mexico Bioelectric Medicine Market by End User, 2019-2030, $ mn    75
Table 21. Spinal Cord Stimulation Device Market by Key Vendor, 2019, x
Table 22. Cochlear Implant Market by Key Vendor, 2019, x
Table 23. Pacemaker and ICD Market by Key Vendor, 2019, x
Table 24. FDA Approved Products of Key Vendors    79
Table 25. Abbott Laboratories: Company Snapshot    83
Table 26. Abbott Laboratories: Business Segmentation    84
Table 27. Abbott Laboratories: Product Portfolio    84
Table 28. Abbott Laboratories: Revenue, 2018-2020, $ mn    85
Table 29. BIOTRONIK SE & Co. KG: Company Snapshot    86
Table 30. Boston Scientific Corp.: Company Snapshot    90
Table 31. Boston Scientific Corp.: Business Segmentation    90
Table 32. Boston Scientific Corp.: Product Portfolio of Medical Devices    91
Table 33. Cochlear Limited: Company Snapshot    94
Table 34. Cochlear Limited: Operational Overview with Sales Revenue ($ mn) and Sales Volume (units), 2020-2021    94
Table 35. Cochlear Limited: Product Portfolio    95
Table 36. electroCore, Inc.: Company Snapshot    97
Table 37. Inspire Medical Systems, Inc..: Company Snapshot    99
Table 38. LivaNova PLC: Company Snapshot    101
Table 39. LivaNova PLC: Product Portfolio    102
Table 40. Medtronic Inc.: Company Snapshot    103
Table 41. Medtronic Inc.: Net Revenue by Segment, 2018-2020, $ bn    104
Table 42. Medtronic Inc.: Net Revenue by Region, 2017-2019, $ bn    104
Table 43. Medtronic Inc.: Product Portfolio of Medical Devices    104
Table 44. Medtronic Inc.: Product Portfolio of Bioelectric Medicine    105
Table 45. NeuroMetrix, Inc: Company Snapshot    107
Table 46. NeuroMetrix, Inc: Product Portfolio    108
Table 47. Nevro Corp.: Company Snapshot    109
Table 48. Nevro Corp.: Product Portfolio    110
Table 49. Nuvectra Corporation: Company Snapshot    111
Table 50. Omron Corporation: Company Snapshot    113
Table 51. Omron Corporation: Business Segmentation    114
Table 52. Pixium Vision: Company Snapshot    116
Table 53. Pixium Vision: Product Portfolio    117
Table 54. Second Sight Medical Products Inc: Company Snapshot    119
Table 55. Second Sight Medical Products Inc: Product Portfolio    120
Table 56. SetPoint Medical: Company Snapshot    122
Table 57. Sonova Holding AG: Company Snapshot    124
Table 58. Sonova Holding AG: Main Brands and Products    125
Table 59. St. Jude Medical, Inc.: Company Snapshot    126
Table 60. Stimwave LLC: Company Snapshot    128
Table 61. Stimwave LLC: Product Portfolio    129
Table 62. Risk Evaluation for Investing in North America Market, 2020-2030    131
Table 63. Critical Success Factors and Key Takeaways    134

 

List Of Figures:
Figure 1. Research Method Flow Chart    10
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation    13
Figure 3. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2020-2030    15
Figure 4. North America Bioelectric Medicine Market, 2019-2030, $ mn    17
Figure 5. Impact of COVID-19 on Business    20
Figure 6. Primary Drivers and Impact Factors of North America Bioelectric Medicine Market    22
Figure 7. Worldwide Geriatric Population (60 years and above) by Region, 2015 & 2030, million    26
Figure 8. World Population 65 and over, % of Total Population, 1950-2060    26
Figure 9. Primary Restraints and Impact Factors of North America Bioelectric Medicine Market    28
Figure 10. Investment Opportunity Analysis    32
Figure 11. Porter’s Fiver Forces Analysis of North America Bioelectric Medicine Market    35
Figure 12. Breakdown of North America Bioelectric Medicine Market by Product Type, 2020-2030, % of Sales Revenue    39
Figure 13. North America Addressable Market Cap in 2021-2030 by Product Type, Value ($ mn) and Share (%)    40
Figure 14. North America Bioelectric Medicine Market: Implantable Bioelectric Medicine, 2019-2030, $ mn    41
Figure 15. North America Bioelectric Medicine Market: Cardiac Pacemaker, 2019-2030, $ mn    43
Figure 16. North America Bioelectric Medicine Market: Implantable Cardioverter Defibrillators (ICD), 2019-2030, $ mn    44
Figure 17. North America Bioelectric Medicine Market: Spinal Cord Stimulators, 2019-2030, $ mn    45
Figure 18. North America Bioelectric Medicine Market: Cochlear Implants, 2019-2030, $ mn    46
Figure 19. North America Bioelectric Medicine Market: Deep Brain Stimulators, 2019-2030, $ mn    47
Figure 20. North America Bioelectric Medicine Market: Vagus Nerve Stimulators, 2019-2030, $ mn    48
Figure 21. North America Bioelectric Medicine Market: Sacral Nerve Stimulators, 2019-2030, $ mn    49
Figure 22. North America Bioelectric Medicine Market: Retinal Implants, 2019-2030, $ mn    50
Figure 23. North America Bioelectric Medicine Market: Other Implantable Bioelectric Medicines, 2019-2030, $ mn    51
Figure 24. North America Bioelectric Medicine Market: Non-invasive Bioelectric Medicine, 2019-2030, $ mn    52
Figure 25. North America Bioelectric Medicine Market: Transcutaneous Electrical Nerve Stimulators, 2019-2030, $ mn    54
Figure 26. North America Bioelectric Medicine Market: Transcranial Magnetic Stimulation (TMS), 2019-2030, $ mn    55
Figure 27. North America Bioelectric Medicine Market: Pulsed Electromagnetic Field Therapy, 2019-2030, $ mn    56
Figure 28. North America Bioelectric Medicine Market: Other Non-invasive Bioelectric Medicines, 2019-2030, $ mn    57
Figure 29. Breakdown of North America Bioelectric Medicine Market by End User, 2020-2030, % of Sales Revenue    58
Figure 30. North America Addressable Market Cap in 2021-2030 by End User, Value ($ mn) and Share (%)    59
Figure 31. North America Bioelectric Medicine Market: Hospitals and Clinics, 2019-2030, $ mn    60
Figure 32. North America Bioelectric Medicine Market: Research Institutes, 2019-2030, $ mn    61
Figure 33. North America Bioelectric Medicine Market: Individual Users, 2019-2030, $ mn    62
Figure 34. Breakdown of North America Bioelectric Medicine Market by Country, 2019 and 2030, % of Revenue    64
Figure 35. Contribution to North America 2021-2030 Cumulative Revenue by Country, Value ($ mn) and Share (%)    65
Figure 36. U.S. Bioelectric Medicine Market, 2019-2030, $ mn    67
Figure 37. Canada Bioelectric Medicine Market, 2019-2030, $ mn    72
Figure 38. Bioelectric Medicine Market in Mexico, 2019-2030, $ mn    74
Figure 39. Growth Stage of North America Bioelectric Medicine Industry over the Forecast Period  
Key Players: (this may not be a complete list and extra companies can be added upon request)
Abbott Laboratories    
BIOTRONIK SE & Co. KG    
Boston Scientific Corporation    
Cochlear Limited    
electroCore, Inc.    
Inspire Medical Systems, Inc.    
LivaNova PLC    
Medtronic PLC    
NeuroMetrix, Inc    
Nevro Corp.    
Nuvectra Corporation    
OMRON CORPORATION    
Pixium Vision    
Second Sight Medical Products Inc    
SetPoint Medical    
Sonova Holding AG    
St. Jude Medical, Inc.    
Stimwave LLC