North American electroceuticals market is expected to grow at a CAGR of 7.0% during the forecast period. The market growth in North America can be attributed to the rising geriatric population, frequent US FDA approvals for innovative electroceutical devices, and growing adoption of minimally invasive/non-invasive surgeries for treatment of several diseases owing to growing awareness among patients related to electroceuticals. Furthermore, according to the Heart & Stroke Foundation in Canada, 1.6 million fatalities occur every year due to stroke and at least 1.3 million Canadians live with heart disease. Moreover, the rate of adoption of advanced techniques is the highest in North America. This fact is further supporting the growth of electroceuticals market in North America. 

The market is segmented on the basis of product and end-user. On the basis of product, the market is segmented into cardioverter defibrillators and cardiac pacemaker, deep brain stimulators (DBS), spinal cord stimulators (SCS), vagus nerve stimulators, hearing aids, and cochlear implants, and others such as sacral nerve stimulators, and transcutaneous electrical nerve stimulators. By End-user segment, the market is segmented into hospitals & clinics and homecare and other. Few players operating in the North American electroceuticals market include Medtronic PLC, Abbott Laboratories Inc., Boston Scientific Corp., LivaNova PLC, Cochlear, Ltd., Sonova Holding AG, Nevro Corp., ElectroCore LLC, and BioElectronics Corp. 

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.  In August 2019, Stanford initiated the responsive neuromodulation to control overeating. It will study the feasibility of using NeuroPace’s RNS responsive neuromodulation system to stimulate the nucleus accumbens to control overeating in people with treatment-refractory obesity. 

Research Methodology

The market study of the North American electroceuticals market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for medical device manufacturing companies, distributors and suppliers, and other related companies for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Electroceuticals Market Research and Analysis by Product 
2. North American Electroceuticals Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the North American electroceuticals market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American electroceuticals market.
• Insights about market determinants which are stimulating the North American electroceuticals market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.