Europe Electroceuticals Market

Europe Electroceuticals Market Size (2022 to 2027)

The size of the Europe Electroceuticals Market was worth USD 5.58 billion in 2022 and is estimated to be growing at a CAGR of 7.4%, to reach USD 7.98 billion by 2027.

The population crossing age above 60 is significantly growing in the European countries and the probability of diagnosing with various diseases such as Parkinson’s, Alzheimer’s, epilepsy and others for the aged population is very high and demands more electroceutical devices for the treatment purposes. Hence, the rising aging population in the European continent is expected to boost the market growth.

The R&D investments for the new and innovative therapies have a received a spike in Europe, which is estimated to favour the market during the forecast period. Increasing number of approvals for the new and advanced electroceutical products and growing number of strategies adopted by the market participants are expected to take the market to the next level in the near future. The number of hospitals in the European region is growing year-by-year and is a positive sign to the market growth.

High costs associated with these products is a key factor expected to restrict the market growth to a small extent. Strict regulations to be followed during the approval of new products and therapies and unfavourable reimbursement policies are the factors that obstruct the market growth of the Europe region.

This research report on the Europe Electroceuticals Market has been segmented and sub-segmented into the following categories:

• By Product: Pacemakers, Cochlear Implants and Spinal Cord Stimulators
• By Type Of Device: Implantable and Non-Invasive
• By Application: Arrhythmia, Depression and Migraine
• By End User: Hospitals and Research Institutes
• By Country: UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe

Regional Analysis:

U.K. is leading the market regionally, due to presence of developed healthcare system as well as presence of market leaders. Germany is expected to grow the fastest owing to its increasing disposable income, growing government initiatives to develop healthcare infrastructure and increasing awareness. Implantable devices have held the major share in the market due to prevalence of neurological diseases while non implantable devices are expected to grow at a higher CAGR. The hospitals segment is expected to account for the largest share of the market in 2016 while, the individual users segment is projected to grow at the highest CAGR in the forecast period.

Key players operating in the Europe Electroceuticals Market profiled in this report are Medtronic plc, St. Jude Medical, Inc., Boston Scientific Corporation, Cochlear Limited, Sonova Holding AG, LivaNova PLC, Biotronik, Nevro Corporation, Second Sight Medical Products, Inc., and ElectroCore LLC.