Newark, New Castle, USA, Feb. 03, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global bioelectronics market is expected to clock US$ 25.27 billion by 2030 and to grow at a CAGR of 10.62% during the forecast period. This exclusive information is published by Growth Plus Reports in its report titled “Bioelectronics Market – Global Outlook & Forecast 2022-2030”
Bioelectronics is a developing and popular branch of medical research that deals with the use of biological scientific concepts in electrical engineering. In other terms, bioelectronics is a synthesis of biology and electronics. This is an important growing medical specialty. Bioelectronics has resulted in the creation of crucial gadgets such as artificial pacemakers and a variety of conveniently accessible medical imaging devices. Robotics, bioelectromagnetic, sensors, and neural networks are some of the key instruments linked with bioelectronics.
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Market Drivers
This segment's expansion may be attributable to factors such as increased demand for diagnostics and monitoring equipment, increased usage of cardiac pacemakers and blood pressure cups, and others. Furthermore, increasing technology breakthroughs and the quick release of fresh and/or improved items, such as innumerable medical imaging gadgets. Furthermore, the many advantages and benefits supplied by bioelectronics significantly increase demand for bioelectronics, consequently expanding market sales of bioelectronics. Bioelectronics can also create virtual environments for healthcare trainees by boosting their learning experience through realistic activities. Bioelectronic brain stimulation can also provide soothing or stimulating effects similar to those produced by tranquilizers or pharmaceutical stimulants, therefore improving mental health care. Bioelectronic medications, which have received a lot of attention from healthcare professionals and researchers, are also one of the primary drivers of market growth. By inventing nerve-stimulating devices that can interact with the central and peripheral nervous systems, bioelectronic medicine has the potential to transform disease therapies. Bioelectronics applications such as health monitoring for early stroke warning, cancer diagnosis, and diabetes treatment, as well as biochemical and neurological prosthetics for artificial tissues, organs, and retinas, are likely to drive market expansion over the projection period.
The global bioelectronics market has been analyzed from five perspectives: type, product, application, end user, and region
Excerpts from ‘By Type Segmentation
Based on type, the global bioelectronics market has been bifurcated into:
- Bioelectronic Devices
- Bioelectronic Medicines
The bioelectronic devices segment dominated the global market with the largest revenue share in 2021. The advancement in bioelectronic device technologies played an important role in aiding the comprehension of faulty electrophysiological signals, as well as the identification of subtle clinical signs, the control of epileptic neuronal processes, and the therapy of a variety of refractory neurological disorders. They include skin-based electroencephalography (EEG), epicortical electrocorticography (ECoG), and intracortical encephalography (ICE). As novel paradigms for brain modulation, optogenetic and thermal stimulation devices have also been developed. Integration of wireless device components and downsizing of a fully implanted system has also sped up the advancements tremendously. Additionally, researchers are studying the use of a stent to install brain implants. The gadget is delivered to a specific region in the skull via the vascular system. The collaboration of engineers with physicians and neuroscientists to tackle technological and scientific difficulties so that these new procedures may become routine treatments. Thus, these factors encourage the growth of the bioelectronic devices segment, thereby propelling the overall growth of the market.
Excerpts from ‘By Region Segmentation’
Based on region the bioelectronics market is segmented into:
- North America
- Europe
- Asia Pacific
- Rest of the world
Europe holds the largest revenue share in the global bioelectronics market. The growth of this region’s market can be attributed to the rapid adoption of advanced technologies and the availability of enhanced healthcare systems with large healthcare expenditures. Moreover, the presence of key market players in this region further fuels the growth of this regional market growth.
The Asia Pacific region is expected to have profitable growth in the predicted period as a result of factors such as improved healthcare infrastructure, economic development, and increased knowledge about organ donation and transplantation operations throughout the region. Additionally, the growing patient pool suffering from chronic conditions requires replacement, which will drive demand for these devices in this region in the future years.
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Excerpts from ‘Competitive Landscape’
The prominent players operating in the global bioelectronics market are:
- Bioelectronics Corporation
- Medtronic Plc.
- Sensirion AG
- F. Hoffmann-La Roche Ltd.
- Nova Biomedical Corporation
- Bayer A.G.
- Abbott
- Siemens Healthineers
- Salvia Bioelectronics
- LifeSensors
- OmniVision Technologies Inc.
- AgaMatrix Inc.
- Sensirion AG
- Broadcom Inc.
- Sotera wireless
- Omnivision Technologies
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL BIOELECTRONICS MARKET- ANALYSIS & FORECAST, BY TYPE
- Bioelectronic Devices
- Bioelectronic Medicines
- GLOBAL BIOELECTRONICS MARKET- ANALYSIS & FORECAST, BY PRODUCT
- Electrochemical Biosensors
- Piezoelectric Biosensors
- Thermal Biosensors
- Optical Biosensors
TOC Continued..
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