Electroceuticals Market Size Estimation Methodology
The global electroceuticals/bioelectric medicine market is expected to reach USD 25.20 Billion by 2021 from USD 17.20 Billion in 2016, growing at a CAGR of 7.9% from 2016 to 2021. The growth of the overall electroceuticals/bioelectric medicine market can be contributed to rising geriatric population, regulatory approval for new and advanced electroceuticals, growing investments and funds for the development of novel therapies and electroceuticals, rising prevalence of neurological disorders, and growing prevalence of hearing loss. However, lack of skilled professionals and high cost of cochlear implants is expected to restrain the growth of this market to a certain extent. Moreover, the growth potential offered by emerging countries and strong product pipeline are expected to provide growth opportunities for players operating in this market.
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