Electroceuticals Global Market Report 2024

The electroceuticals market size has grown strongly in recent years. It will grow from $21.81 billion in 2023 to $23.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The historical period's growth can be credited to an increase in chronic diseases, investments in research and development, an aging population, advancements in nanotechnology, and an enhanced understanding of neural pathways.

The electroceuticals market size is expected to see strong growth in the next few years. It will grow to $30.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The forecast period's growth can be attributed to progress in bioelectronics, the development of precision medicine, an increase in non-invasive therapies, a focus on chronic pain management, and a rise in neurological disorders. Major trends in the forecast period include implantable bioelectronic devices, wireless and remote-controlled devices, personalized electroceutical therapies, advancements in neural modulation techniques, and bioelectronic devices for metabolic disorders.

The anticipated growth of the electroceuticals market is driven by the high prevalence of chronic diseases. Chronic diseases, characterized by persistent or long-lasting health conditions, are expected to affect a substantial number of individuals aged 50 and older in the United States, reaching 142.66 million by 2050, according to the National Library of Medicine. Electroceuticals play a crucial role in managing chronic diseases, providing personalized neuromodulation, and offering long-term solutions to address treatment resistance.

The electroceuticals market is poised for growth due to the increasing prevalence of neurological disorders. Neurological disorders, affecting the nervous system, impact a significant portion of the global population. According to The European Academy of Neurology, one in three individuals may experience a neurological disorder at some point in their lives. Furthermore, the World Health Organization reports that epilepsy, a prevalent neurological disorder, affects over 50 million people worldwide, with approximately 80% of cases found in low- and middle-income countries. The application of electroceuticals in modulating the nervous system's activity, reducing side effects, and enabling long-term disease management contributes to the market's expansion.

The electroceuticals market is witnessing a key trend marked by the introduction of technologically improved devices. Major companies in the electroceuticals sector are dedicated to enhancing their product portfolios through the incorporation of advanced technologies, aiming to optimize patient experience and treatment outcomes while maintaining a competitive market position. A notable example is Medtronic PLC, an Ireland-based medical technology company, which, in July 2021, unveiled Percept PC. This deep brain stimulation (DBS) system, equipped with BrainSense technology, is a groundbreaking innovation for treating movement disorders such as Parkinson's and epilepsy. The BrainSense capability captures brain signals during therapeutic stimulation, enhancing clinical settings and providing benefits beyond. The ergonomically designed Percept PC device focuses on improved comfort, catering specifically to patients with conditions such as Parkinson's disease, tremors, dystonia, and epilepsy.

Major players in the electroceuticals market are emphasizing innovative treatments, including advanced non-invasive neuromodulation. This form of treatment targets deep brain structural dysfunctions associated with chronic ailments, particularly central nervous system diseases and overactive bladder. Stimvia, a US-based medical technology company, exemplifies this approach with the launch of uris in September 2023. Uris technology stands out for its ability to precisely stimulate specific nerves through novel electrodes placed on the patient's skin, delivering electric signals directly to the brain. Employing peroneal neuromodulation, this technique involves stimulating peripheral nerves connecting the brain and spinal cord to the extremities, showcasing promising outcomes in clinical trials for conditions such as overactive bladder.

In July 2021, Merck KGaA, a Germany-based science and technology company, entered into a partnership with Innervia Bioelectronics. The primary objective of this collaboration is to enhance the energy efficiency of neurostimulators, a significant step toward digitally customized treatment for patients with severe and chronic illnesses, particularly inflammatory disorders. Leveraging the collective expertise of both organizations, the partnership aims to develop bioelectronic medicines addressing unmet medical needs within Merck's therapy areas. Innervia Bioelectronics, a Spain-based medical device company, contributes to this collaborative effort.


Major companies operating in the electroceuticals market report are Abbott Laboratories Inc., Medtronic Public Limited Company, Boston Scientific Corporation, Sonova Holding AG, Biotronik SE & Co. KG, Cochlear Limited, LivaNova PLC, MicroPort Scientific Corporation Limited, MED-EL Elektromedizinische Geräte GmbH, Nevro Corporation, Axonics Modulation Technologies Inc., Oticon Medical, Neuronetics Inc., Nuvectra Corporation, NeuroPace Inc., Second Sight Medical Products Inc., Saluda Medical Pty. Ltd., Stimwave Technologies Incorporated, electroCore Inc., Synapse Biomedical Inc., Soterix Medical Inc., Retina Implant AG, MicroTransponder Inc., Vomaris Innovations Inc., SPR Therapeutics Inc., NeuroSigma Inc., Nexeon MedSystems Inc., BioElectronics Corporation, Setpoint Medical Corporation, Endonovo Therapeutics Inc.

North America was the largest region in the electroceuticals market in 2023. The regions covered in the electroceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electroceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of electroceuticals include implantable electroceutical devices and non-invasive electroceutical devices. Implantable electroceutical devices are medical devices positioned inside the body to administer electrical stimulation or therapy directly to targeted tissues or organs, enabling precise and localized treatment. The range of products encompasses implantable cardioverter defibrillators, cardiac pacemakers, cochlear implants, spinal cord stimulators, deep brain stimulators, transcutaneous electrical nerve stimulators, sacral nerve stimulators, vagus nerve stimulators, and others. These devices find application in treating conditions such as arrhythmia, depression, Parkinson’s disease, tremor, epilepsy, sensorineural hearing loss, among others, and are utilized by end-users including hospitals, ambulatory surgical centers, diagnostic centers, and others.

The electroceuticals research report is one of a series of new reports that provides electroceuticals market statistics, including the electroceuticals industry's global market size, regional shares, competitors with an electroceuticals market share, detailed electroceuticals market segments, market trends, and opportunities, and any further data you may need to thrive in the electroceuticals industry. This electroceuticals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electroceuticals market consists of revenues earned by entities by providing services, including clinical support, surgical implantation procedures, programming and adjustment of devices, patient monitoring, and post-implantation care. The market value includes the value of related goods sold by the service provider or included within the service offering. The electroceuticals market also includes sales of wearable electroceuticals, electroceutical drug delivery systems, electroceutical sleep devices, and gastric electrical stimulators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.