Impact of Covid19 on Electroceuticals/Bioelectric Medicine Market, Future Growth 2020-2026 | Biotronic, GlaxoSmithKline, Medtronic PLC, Siemens AG
: New York, United States, 25-July-2020, (Via WiredRelease), (Reports and Data) – According to the current analysis of Reports and Data, the global Electroceuticals / Bioelectric market was valued at USD 20.00 Billion in 2018 and is expected to reach USD 38.13 Billion by year 2026, at a CAGR of 8.5%. According to a study conducted by World Health Organisation in 2017, four major chronic diseases including cardiovascular diseases, cancers, diabetes, chronic respiratory diseases and diabetes were the major cause for 80% of all premature deaths.
Bioelectric medicine or Electroceuticals devices indicates the usage of devices instead of drugs, are safe to block, record and stimulate neural signals to cure from chronic disorders. They are invasive and non-invasive in nature which are held against the skin or implanted in nerve to restore the healthy condition of the patient without the complicated side of pharmaceutical agents. They treat diseases by the implication of devices which combine bioengineering, neuroscience, molecular medicines and electronics for the regulation of biological process. The bioelectric therapy also prompts the body to produce endorphins which helps to relieve pain in the body of the patients.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Biotronic, GlaxoSmithKline, Medtronic PLC and Siemens AG.
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For the purpose of this report, Reports and Data have segmented into the global Electroceuticals/Bioelectric Medicine market on the basis of type, propellants, application, and region:
Product Type (Revenue, USD Million; 2016–2026)
Cardiac PacemakersImplantable Cardioverter DefibrillatorsStimulatorsSpinal cordDeep brainVagus NerveSacral NerveTranscutaneous Electrical NerveOthers
Devices Type (Revenue, USD Million; 2016–2026)
Implantable Electroceutical DevicesNon-Invasive Electroceutical Devices
Application (Revenue, USD Million; 2016–2026)
Pain ManagementDepressionEpilepsyArrhythmiaMenstrual migraineRetinitis PigmentosaSpinal Cord InjuryOthers
End User (Revenue, USD Million; 2016–2026)
HospitalsAmbulatory Surgical CentresSpeciality ClinicsHomecare CentresIndividual UsersOthers
Regional Outlook (Revenue, USD Million; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/electroceuticals-bioelectric-medicine-market
Key insights of the report:
The report delivers key statistics on the current market status of the Electroceuticals/Bioelectric Medicine manufacturers and is a reliable source of guidance and direction for the companies and individuals interested in the industry. The report delivers an overview of the industry, including the basic definition, applications, the latest manufacturing technology, and others. The report comprises of the company profile, product specifications, production capacity, production value, and market shares for the key competitors. The market is further divided by company, by country, and by application/type for the competitive landscape analysis.
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