North America Bioelectric Medicine Market 2020-2030

Bonafide Trust 02-02-2022 136 Pages
Region : North America Category : Lifescience Medical Devices

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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 Fiver 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 • 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 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.)

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

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 76

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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, % 78
Table 22. Cochlear Implant Market by Key Vendor, 2019, % 78
Table 23. Pacemaker and ICD Market by Key Vendor, 2019, % 78
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

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North America Bioelectric Medicine Market 2020-2030

North America Bioelectric Medicine Market 2020-2030