Electrotherapy Market Size Worth USD 1,463.74 Million by 2027 at 7.1% CAGR - Report by Market Research Future (MRFR)
Electrotherapy Market Insights and Industry Analysis by Treatment Type (Extracorporeal Shock Wave Therapy, Interferential Current Therapy, Magnetic Field Therapy, Ultrasound Therapy, Transcutaneous Electrical Nerve Stimulation Therapy, Micro-Current Therapy, Transcutaneous Spinal Electro Analgesia, Pulsed Short Wave Diathermy, Spinal Cord Stimulation, Percutaneous Electrical Nerve Stimulation), Device Type (Transcutaneous Electrical Neural Stimulator, Electronic Muscle Stimulator, Interferential Stimulator, High Voltage Pulsed Galvanic Stimulator, Microcurrent Stimulator), Application (Pain Management, Neuromuscular Dysfunction, Urine & Fecal Incontinence, Acute and Chronic Edema, Tissue Repair, Iontophoresis, Orthopedics, Cardiology) -Competitive Market Size, Share, Trends, and Forecast to 2027
New York, US, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Electrotherapy Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Electrotherapy market Information by Treatment Type, Device Type, Application, and End User, and Region - Forecast till 2027” the market is expected to reach USD 1,463.74 Million by 2027 at 5.10% CAGR.
Market Scope:
Electrotherapy is a pain-relieving treatment in which electric impulses are used to relax muscles, enhance blood circulation, repair tissues, and encourage bone growth. The increasing use of physiotherapy in the treatment of a wide range of ailments has raised demand for electrotherapy all around the world.
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Market Drivers
The global electrotherapy market is expected to develop due to rising obesity, a rise in sports injuries, and rising healthcare costs. During the forecast period, technical improvements in interferential therapy, ultrasound therapy, and transcutaneous electrical nerve stimulation are expected to promote market expansion. With rising demand, the global electrotherapy market is expected to see an increase in product launches. With the launch of the new product, demand for distributors in rural areas is projected to rise. The target population is growing as the number of patients suffering from anxiety, depression, and sleeplessness rises. Manufacturers may be able to fill the demand gap by developing goods to increase the number of patients using one of the electrotherapy methods.
Competitive Landscape:
- Medtronic plc (Ireland)
- Alimed Inc (US)
- Cogentix Medical Inc. (US)
- Jude Medical Inc. (US)
- Zynex Medical (US)
- DJO Global Inc. (US)
- Livanova Plc (UK)
- Nervo Corp (US)
- Neuromextrix Inc. (US)
- Boston Scientific Corporation
Market Restraints:
However, in developing nations, a lack of understanding regarding the use of electrotherapy systems, as well as the availability of a large number of substitutes and saturation in developed countries, are impeding the market's growth.
COVID-19 Analysis
From raw material procurement through manufacture, packaging, and distribution, the COVID-19 pandemic has disrupted the worldwide supply chain and affected the whole value chain of the global electrotherapy business. Electrotherapy device demand, on the other hand, has not been limited by the increased demand from patients. In addition, it is expected that a lack of access to healthcare facilities for physiotherapy will raise demand. Patients with COVID-19 also require physiotherapy and early mobilization. In COVID-19 patients, it helps to strengthen respiratory muscles, reduce inflammation, and improve immune function. Physiotherapy can help with a variety of COVID-19 symptoms.
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Market Segmentation
Treatment type, equipment type, application, and end user are all used to segment the global electrotherapy market.
Extracorporeal shock wave therapy, interferential current therapy (IC), magnetic field therapy, ultrasound therapy, transcutaneous electrical nerve stimulation (TENS) therapy, micro-current therapy, transcutaneous spinal electro analgesia (TSE), pulsed short wave diathermy (PSWD), spinal cord stimulation (SCS), and percutaneous electrical nerve stimulation (TENS) therapy are the different types of electrotherapy
Transcutaneous electrical neural stimulator (TENS), electronic muscle stimulator (EMS), interferential stimulator (IF), high voltage pulsed galvanic stimulator (HVPGS), microcurrent stimulator (MC) or microcurrent electrical neuromuscular stimulator (MENS), and others make up the global electrotherapy market.
Pain management, neuromuscular dysfunction, urine and fecal incontinence, acute and chronic edema, tissue repair, iontophoresis, orthopedics, cardiology, and others are among the applications that make up the worldwide electrotherapy market.
Hospitals & clinics, rehabilitation centers, long-term care centers, and others make up the global electrotherapy market by end user.
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Regional Analysis:
The global electrotherapy market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa, depending on region.
Due to established healthcare infrastructure, increased awareness of electrotherapy, and the presence of important players in the region, the Americas led the market in 2019 and are expected to continue to do so over the assessment period.
Because of the growing senior population, increased prevalence of chronic and lifestyle-related illnesses, sophisticated healthcare infrastructure, and high healthcare spending, Europe would trail the Americas in terms of value during the forecast period
Due to rising prevalence of neuropathy and other associated disorders, increasing number of patients suffering from neurology-related pain disorders, government initiatives, growing geriatric population, and rising diabetes incidences, Asia-Pacific is expected to have the highest market growth potential during the forecast period. These factors are propelling the electrotherapy market in Asia-Pacific to new heights.
The electrotherapy market in the Middle East and Africa has been steadily growing over the review period. This can be ascribed to the Middle Eastern countries' growing senior population and the rising prevalence of painful diabetic neuropathy, both of which will boost market expansion.
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