MEA Electroceuticals Market

MEA Electroceuticals Market Size (2023 to 2028)

The Middle East and Africa Electroceuticals Market size have been valued at USD 1.87 billion in 2023. It is estimated to be growing at a CAGR of 8% and worth USD 2.76 billion by 2028.

Electroceuticals are devices that use electrical impulse for treating ailments; therefore, due to increase in the technological advancements for developing innovative devices and effective treatment for treating ailments such as wearable and implantable devices, for instance, vagal nerve stimulation is a technique that stimulates the vagus nerve with electrical impulse and currently, FDA approved vagus nerve stimulator to treat epilepsy and depression which is driving the demand for the Middle East & Africa electroceuticals market. 

The growth of the MEA electroceuticals market is increasing due to the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and other heart-related diseases and neurological diseases such as epilepsy and many other disorders related to neurological disorders is increasing the demand in the market. Also, an increase in the growing elderly population with the diseases such as Alzheimer's and Parkinson's diseases helps propel the growth of the Middle East & Africa Electroceuticals Market.

Furthermore, increase in the investment and funding from government and non-government organizations in research and development activities for manufacturing innovative devices and therapies as well as medication. Also, the increase in initiatives for growing awareness about the benefits and applications of electroceuticals among the people is uplifting the market growth. In addition, the regulatory approvals for introducing new innovative products and services in the market also increase the market's development.

However, the increase in the costs of installation and maintenance of the devices is majorly restraining the market's growth. Also, the strict government rules and regulations with the lack of proper reimbursement policies hamper the growth of the MEA electroceuticals market.

In addition, an increase in the costs of devices and treatment with the lack of awareness among the people about the availability of advanced treatment and procedures in the market are also hampering the growth of the Middle East & Africa electroceuticals market. Another factor that is limiting the market is the recalling of the product or services that would create consequences for the company.

This research report on the Middle East and Africa Electroceuticals market has been segmented and sub-segmented into the following categories:

By Product: 

• Pacemakers

• Cochlear Implants

• Spinal Cord Stimulators

By Type Of Device: 

• Implantable

• Non-Invasive

By Application: 

• Arrhythmia

• Depression

• Migraine

By End User: 

• Hospitals

• Research Institutes

By Country: 

• KSA

• UAE

• Israel

• rest of GCC countries

• South Africa

• Ethiopia

• Kenya

• Egypt

• Sudan

• rest of MEA

Geographically, The Middle East and Africa Electroceuticals market are anticipated to witness a moderates share during the forecast period. The market growth is attributed to the improving healthcare infrastructure, increasing healthcare spending, and increasing investments by the government. In addition, the growing elderly population, increasing prevalence of chronic disease and neurological diseases are majorly fuelling the growth of the MEA electroceuticals market. The easing prevalence of Alzheimer's and Parkinson's diseases among the people, therefore, in UAE more than 10,000 people have this Parkinson's disease and in Saudi Arabia is estimated to have 27 per 1 lakh people is increasing the market growth of electroceuticals.

South Africa recorded the largest share of the MEA Electroceuticals market, and it is likely to continue its growth during the forecast period. Increasing disposable income of the individuals, well-equipped medical and healthcare infrastructure, and growing government initiatives boost market growth.

UAE is more likely to showcase a significant growth in the MEA electroceuticals market due to an increase in focus towards adopting technological advancements in developing innovative and effective treatments for treating diseases with the growing awareness among the people about electroceuticals benefits to growth in the market.

Noteworthy companies leading in the MEA Electroceuticals Market profiled in the 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.