Electroceutical Devices Market - Global Forecast to 2026

Electroceutical is a recently coined term for an age-old therapeutic modality that by and large encompasses all of bioelectrical medicine and encompasses any type of electrical stimulation that affects and changes body functions, and neural implants such as cochlear implants, retinal implants or stimulators, pacemakers of the Spinal cord and implantable defibrillators. Over time, Electropharmacist expanded their applicability to include deep brain stimulation and electrical stimulation of the vagus nerve. Also called bioelectronics, they include small electronic implants capable of treating a wide variety of chronic diseases such as diabetes, asthma, arthritis, high blood pressure, and other heart and gastrointestinal disorders.

The size of the global Electroceutical devices market was estimated at $17,479.8 million in 2017 and is expected to record a CAGR of 8.0% over the forecast period (2018-2026).

Increased involvement of key players to accelerate the drug discovery and development process should support market growth. B. non-invasive devices are the main drivers for the growth of the drug market For example, in October 2016, the USA. The National Institutes of Health (NIH) announced $20 million funding for the treatment of disease with electrical stimulation, which aims to improve the maps of the peripheral nervous system (the body's electrical wiring) and generate sophisticated systems that its codes. , the funding is part of a seven-year $248 million program announced by the NIH Common Fund in 2014.