Kenneth Research, in its repository of market research reports, has recently added a report titled Market, that emphasizes on the recent market trends and opportunities available for the growth of the market for the forecast period 2021-2025. The growth of the Asia Pacific Bioelectric Medicine Market can be attributed to the increasing health spending by nations across the globe, and for the rapid innovations observed in the medical sector. According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion. Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
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“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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. Asia Pacific bioelectric medicine market will grow by 8.4% annually with a total addressable market cap of $64.58 billion over 2020-2030 owing to the growing geriatric population and rising acceptance of bioelectric medicines.
Highlighted with 30 tables and 42 figures, this 107-page report “Asia Pacific 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 Asia Pacific 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 2015-2019 and provides forecast from 2020 till 2030 with 2019 as the base year. (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.)
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 Fiver Forces
The trend and outlook of Asia Pacific 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 Asia Pacific bioelectric medicine market in every aspect of the classification from perspectives of Product Type, End User, and Country.
Based on Product Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue for 2019-2030 included in each section.
Implantable Bioelectric Medicine
• Cardiac Pacemaker
• Implantable Cardioverter Defibrillators (ICD)
• Spinal Cord Stimulators (split into Chronic Pain, Failed Back Syndrome (FBSS), Ischemia by application)
• Cochlear Implants
• Deep Brain Stimulators (split into Parkinson’s Disease, Tremor, Depression, Other Deep Brain Stimulation Applications by application)
• Vagus Nerve Stimulators
• Sacral Nerve Stimulators (split into Urinary Incontinence and Fecal Incontinence by application)
• Retinal Implants
• Other Implantable Bioelectric Medicines
Non-invasive Bioelectric Medicine
• Transcutaneous Electrical Nerve Stimulators
• Transcranial Magnetic Stimulation (TMS)
• Pulsed Electromagnetic Field Therapy
• Other Non-invasive Bioelectric Medicines
Based on End User, the Asia Pacific 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:
• South Korea
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• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
For each country, detailed analysis and data for annual revenue are available for 2019-2030. The breakdown 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 Asia Pacific 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):
BIOTRONIK SE & Co. KG
Boston Scientific Corporation
Inspire Medical Systems, Inc.
Second Sight Medical Products Inc
Sonova Holding AG
St. Jude Medical, Inc.
(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.)
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