The UK electroceuticals market is expected to grow at a CAGR of 7.8% during the forecast period. UK has one of the finest healthcare systems in the EU region, which enables it to provide quality healthcare to the individuals. UK has the highest number of cardiovascular diseases, coronary heart disease, stroke, heart failure, atrial fibrillation, and other heart patients. According to British Heart Foundation, more than one-fourth of the fatalities in UK occur due to `, and it is responsible for around 1.6 million fatalities each year.
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According to British Heart Foundation, more than 7 million people live with one or the other type of heart diseases in UK in 2018. Prolonged diseases, such as arthritis, asthma, chronic obstructive pulmonary disease, diabetes, and other heart-related diseases put economic burden on the UK government, which includes cost of premature fatalities, hospital stay, and prescriptions, and these are estimated to be approximately $50 billion annually.
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In September 2017, the company in partnership with MicroPort announced the approval of the Rega Pacemaker from the China Food and Drug Administration. This device offers various advanced features, such as pacing mode that preserves intrinsic conduction, a dual sensor-based response rate to sleep and exercise monitoring.
In March 2016, the company has announced the first implant of Reply CRT-P, a new cardiac resynchronization pacemaker. The device has features that include dual-sensor technology that enables a physiologic adaption of heart rate. This assisted in the enhancement of the company’s product portfolio.
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UK Electroceuticals Market – Segmentation
By Product and its Application
• Cardioverter Defibrillators and Cardiac Pacemaker
• Deep Brain Stimulators
• Spinal Cord Stimulators
• Vagus Nerve Stimulators
• Cochlear Implants
• Others (Sacral Nerve Stimulators, Transcutaneous Electrical Nerve Stimulators)
• Hospitals and Clinics
• Research Institutes
• Abbott Laboratories Inc.
• Advanced Bionics AG
• Boston Scientific Corp.
• Demant A/S
• Edwards Lifesciences Corp.
• Getinge AB
• GlaxoSmithKline PLC
• Livanova PLC
• Medtronic PLC
• Renishaw PLC
• Sonova Holding AG
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