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Bioelectric Medicine Market is projected valued at US$ 12.3 billion in 2021, Owing to Increasing Adoption of Bioelectric Medicine

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Bioelectric medicine is now coming to its mature stage as a successful stand-alone treatment for a growing number of medical conditions. It is used as a complementary therapy to improve the function of many organ systems, particularly the cardiovascular and immune systems. Specific applications include cardiopulmonary rehabilitation, respiratory management, and pediatric and adult neurological conditions such as stroke, sclerosis, and epilepsy.

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The increasing use of electroceuticals for the treatment of various cardiac and neurological diseases such as Obsessive-Compulsive Disorder (OCD), dystonia, essential tremor, and epilepsy is driving the growth of the bioelectric medicine market. The rise in the geriatric population is again increasing the prevalence of chronic disease which is also fueling the growth of the market. According to the United Nation, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and Northern America could be aged 65 or over. Growing investment in the research and development activities for developing advanced electroceuticals is further anticipated to foster the growth of the bioelectric medicine market over the forecast period.

North America is projected to gain significant growth over the forecast period and this is attributed to the high prevalence of the cardiovascular disease in the region. According to the National Center for Chronic Disease Prevention and Health Promotion, Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. About 655,000 Americans die from heart disease each year—that’s 1 in every 4 deaths.

Key Developments:

  1. In May 2019, Cala Health raised $50M ahead of the commercial launch of its bioelectric stimulation device. Cala Health is part of a new breed of companies developing therapeutics that target the body’s electric circuitry instead.

  2. In February 2020, KidneyCell LTP announced the launch of a clinical trial in Brazil utilizing bioelectric signaling controlled protein release to attempt to reverse kidney failure. The bioelectric stimulation signals will be applied non-invasively only in this study.

  3. In October 2020, Leonhardt’s Launchpads Announces Receipt of Notice of Allowance of U.S. Patent for Bioelectric Stimulator for Organ Regeneration and Healing

  4. In February 2017, GE Ventures announced a strategic partnership with Northwell Health’s Feinstein Institute for Medical Research providing up to $200 million in joint funding to support the opening of a new Center for Bioelectronic Medicine (CBEM)

Top Key Players Include In Bioelectric Medicine Market Market: GlaxoSmithKline, Medtronic Plc., Boston Scientific Corporation, Liva Nova Plc, Electrocore, Nevro, and St. Jude Medical.

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The post Bioelectric Medicine Market is projected valued at US$ 12.3 billion in 2021, Owing to Increasing Adoption of Bioelectric Medicine appeared first on Gatorledger.

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