European Electroceuticals Market: Market Size, Share and Forecast 2019-2025

Posted by pooja makkhar on February 8th, 2020

The European electroceuticals market is estimated to reach .6 billion in 2025 from .9 billion in 2018 at a CAGR of 7.4% during the forecast period. The key factors that provides significant market growth to the European electroceutical market includes high coverage of insurance in the region. Most of the countries in Europe have 100% coverage of insurance which provides the facility of reimbursement of pacemaker, hearing aid and stimulators when recommended by a doctor. In Europe, many countries have national health insurance system where all the citizens of the nation have to pay a tax toward provision of health services along with the private health insurance. 

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As per the report of European Federation of Hard of Hearing People, generally lower-priced hearing aids are fully, and higher-priced hearing aids are partially covered by insurance. Underinsurance, countries such as UK, Denmark, and Portugal, do not offer choice of selecting hearing aid whereas countries such as Belgium, Germany, and Italy offer choice to select hearing aid to the patient. 

Abbott Laboratories Inc., Advanced Bionics AG, Axonics Modulation Technologies Inc., Boston Scientific Corp., BioElectronics Corp., Cochlear Ltd. are the manufacturer, and supplier of medical devices such as pacemaker, defibrillator, vagus nerve stimulatorsand has its facilities in more than 40 countries and includes over 100 brands in its product portfolio. These players adopt various strategies in order to remain competitive in the global market. Some of the strategies followed by market players include mergers and acquisitions, product offering expansion, geographical expansion, and partnerships and collaborations.

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European Electroceuticals Market-Segmentation

By Product and its Application

• Cardioverter Defibrillators and Cardiac Pacemaker
• Arrhythmias
• Deep Brain Stimulators
• Parkinson’s Disease
• Depression
• Spinal Cord Stimulators
• Failed Back Syndrome
• Ischemia
• Vagus Nerve Stimulators
• Epilepsy
• Cochlear Implants
• Sensorineural Hearing Loss
• Others (Sacral Nerve Stimulators, Transcutaneous Electrical Nerve Stimulators)
• Urinary Incontinence
• Treatment-Resistant Depression

By End-Users

• Hospitals and Clinics
• Research Institutes

Regional Analysis

• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe

Company Profiles

• Abbott Laboratories Inc.
• Advanced Bionics AG
• Boston Scientific Corp.
• Cochlear Ltd.
• Demant A/S
• Edwards Lifesciences Corp.
• Getinge AB
• GlaxoSmithKline PLC
• Medtronic PLC
• Sonova Holding AG

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