The growth of the electroceuticals/bioelectric medicine market is likely to be centered at the Asia-Pacific region due to rising adoption of neurostimulation in Japan, increasing cases of diabetes and rapidly aging population in China, increasing prevalence of hearing loss in Asia-Pacific region, increasing geriatric population & high diabetes prevalence in India, conferences on electroceutical devices in India and Australia, increasing prevalence of Parkinson’s Disease in Singapore, and regulatory approvals of cochlear implants in the Asia-Pacific region.
The aging population in Japan is growing at a significant rate, resulting into increase in the incidences of diseases like cancer, and various neurological diseases. The increasing incidences of these diseases, the demand for neurostimulation can be correspondingly expected to increase, boosting the electroceuticals market in Japan
The number of diabetics in China is expected in the coming years. ). The development of diabetic neuropathies among diabetics in China will drive the demand for transcutaneous electrical nerve stimulation and aid market growth in the region. Moreover, due to the rapidly growing aging population in China, the prevalence of neurological disorders is expected to increase. As neuromodulation techniques are used to treat a large number of neurological disorders, including those linked to diabetes, the increase in diabetes prevalence and rising aging population in China, will be driving the market.
The growth in the geriatric population has resulted in an increased demand for neurological therapies in India. Moreover, India has the second-highest number of diabetics. Some patients suffering from diabetes develop diabetic neuropathies (nerve disorder) over a period of time, which can be treated with noninvasive neuromodulation techniques such as transcutaneous electrical nerve stimulation, driving the electroceuticals market in India.
Conferences establish a platform for the exchange of new advancements and technologies occurring in the field of electroceuticals/bioelectric medicine. They also offer players the opportunity to showcase their products and communicate with stakeholders, while helping scientists and researchers to exchange experiences. Recently held events in the Asia-Pacific region include the NSICON 2015, the 64th Annual Conference of the Neurological Society of India (NSI), was held in December 2015 in Hyderabad, India. The 10th Annual Scientific Meeting of the Neuromodulation Society of Australia and New Zealand (NSANZ) was held in March 2015. The meet was conducted by the International Neuromodulation Society in Australia. The Western Pacific Regional Conference (WESPRAC) was organized in Singapore in December 2015, focused on research and development activities in the field of physiological acoustics, speech and hearing, and signal processing.