Market Research Report
Global Bioelectronic Market 2022-2028
|Global Bioelectronic Market 2022-2028|
Published: April 18, 2022
Orion Market Research Pvt Ltd
Content info: 105 Pages
Delivery time: 2-3 business days
Global Bioelectronics Market Size, Share & Trends Analysis by Product (Biochips, Implantable Medical Devices, Prosthetic Devices, Artificial Organs/Bionic Organs, and Other) Forecast Period (2022-2028)
The global bioelectronics market is anticipated to grow at a significant CAGR of 9.7% during the forecast period.In the next seven years, technological advancements such as the development of a nanoscale electrical measurement device for use in proteomics and genomics, as well as for identifying the function of proteins and their reaction pathways through cell membranes and inside cells, are expected to boost the bioelectronics market growth. Additionally, rising bioelectronics research activities and recent developments such as lab-on-a-chip technology, which aids in the restoration of health by developing novel implantable therapeutic devices and the prevention of bioterrorism, are expected to drive market demand throughout the forecast period.Increased research and development studies for point-of-care micro-flow and micro-chemical cytometry, devices for identifying and isolating rare circulating tumor cells, massive parallel microfluidics immunoassays, and point-of-care metabolism are also expected to contribute to market demand growth.
The global bioelectronics market is segmented based on the product. Based on the product, the market is segmented into biochips, implantable medical devices, prosthetic devices, artificial organs/bionic organs, and others. Implantable medical devices are expected to hold the largest market share during the forecast period, followed by biochips. This is due to the rising integration of biotechnology with the electronics field including biocomputing which has resulted in smart bioelectrical systems for homeland security, medical and environmental applications.
The global Bioelectronics market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the North American regional market is expected to cater to considerable growth during the forecast period. Factors contributing to the regional growth of the market are the increasing applications such as implantable medical devices, prosthetic devices, and artificial organs/bionic organs. Asia-Pacific is anticipated to grow due to the rising technological development of emerging companies such as India and China.
The major companies serving the global bioelectronics market include Abbott Laboratories, Inc., Bioelectronics Corp., Danaher Corp., Siemens AG, Boston Scientific Corp., and F. Hoffmann-La Roche Ltd., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, new launches, and partnerships. For instance, in July 2021, Merck KGaA and Innervia partnered to manufacture bioelectronic devices. Through this partnership, both companies aim to develop graphene-based bioelectronic vagus nerve treatments for treating severe chronic diseases.
The market study of the global bioelectronics 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 break down the market into various segments, and derive the 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 macroeconomic 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 as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market size, andintended 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.
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