SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global electrotherapy system market is estimated to be valued at US$ 4,523.0 million in 2020 and is expected to exhibit a CAGR of 7.8% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Electrotherapy System Market:
Rising incidence of spinal injuries and the rising geriatric population susceptible to pain and neurological disorders are factors expected to drive the electrotherapy system market growth during the forecast period. According to the World Health Organization (WHO) factsheet of 2018, globally around 37.3 million individuals suffering from chronic pain require medical attention and approximately 646,000 individuals die each year from falls. Moreover, road accidents cause around 20 to 50 million injuries leading to chronic pain in individuals annually, across the globe.
Key players are focusing on product approval and launch in order to strengthen their position in the global electrotherapy system market. For instance, in 2019, OMRON Healthcare, a provider of innovative medical equipment for home health monitoring and therapy, launched the Electronic Nerve Stimulator (model HV-F013), equipped with OMRON’s Transcutaneous Electrical Nerve Stimulation (TENS) technology, in India.
Among regions, North America is expected to hold dominant position in the global electrotherapy system market over the forecast period. Key players are focusing on innovation in electrotherapy devices to strengthen their position in the market. For instance, in January 2019, Sooma Medical received a receipt of a U.S. patent for its new stimulation electrode technology, which is essential for safe and effective delivery of all neuromodulation therapies.
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Key Market Takeaways:
The global electrotherapy system market is expected to exhibit a CAGR of 7.8 % during the forecast period, owing to rising product launches and product approvals by key players. For instance, in 2018, Atlantic Therapeutics received CE Mark approval for Innovo in Europe. The approval was based on successful data from the sham-controlled Randomized Controlled Trial conducted in Europe. As per data provided by the company, over 1.5 million therapy sessions for urinary incontinence were delivered by INNOVO in Europe.
Competitive Landscape:
Key players operating in the global electrotherapy system market are Medtronic Plc, Zynex Medical Inc., DJO Global, Inc., Nevro Corporation, BTL Industries, Inc., Zealmax Innovations Pvt. Ltd, LivaNova PLC, EMS Physio Ltd, STYMCO Medical and Omron Corporation.
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Market Segmentation:
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Global Electrotherapy System Market, By Technology:
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Neuromuscular Electrical Stimulation (NMES)
- Inferential Current (IFC)
- Percutaneous Electrical Nerve Stimulation (PENS)
- Electronic Muscle Stimulator (EMS)
- Spinal Cord Stimulation (SCS)
- Electro-acupuncture (EA)
- Others
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Global Electrotherapy System Market, By Application:
- Chronic Wound Healing
- Neuromuscular Dysfunction
- Pain Management
- Tissue Repair
- Musculoskeletal Disorder
- Physical Therapy
- Iontophoresis
- Others
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Global Electrotherapy System Market, By Therapy :
- Extracorporeal Shock Wave Therapy
- Magnetic Field Therapy
- Ultrasound Therapy
- Microcurrent Therapy
- Interferential Current Therapy
- Others
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Global Electrotherapy System Market, By End User:
- Hospitals
- Rehabilitation Centers
- Clinics
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Global Electrotherapy System Market, By Region:
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North America
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By Country:
- U.S.
- Canada
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By Country:
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Latin America
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By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
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By Country:
-
Europe
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By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
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By Country:
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Asia Pacific
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By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
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By Country:
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Middle East
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By Country:
- GCC
- Israel
- Rest of Middle East
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By Country:
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Africa
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By Country/Region:
- South Africa
- Central Africa
- North Africa
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By Country/Region:
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North America
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