Electrotherapy System Market Value to Worth Over US$ 1.3 Bn at 4.6% CAGR Growth Rate by 2027, Owing to Increasing Incidence of Neuromuscular Dysfunction
Impact Analysis of Covid-19
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According to Global Electrotherapy System Market Report, by Product Type (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), and Others), By Application (Chronic Wound Healing, Neuromuscular Dysfunction, Pain Management, Tissue Repair, Musculoskeletal Disorder, Physical Therapy, Iontophoresis, and Others), By Therapy (Extracorporeal Shock Wave Therapy, Magnetic Field Therapy, Ultrasound Therapy, Microcurrent Therapy, Interferential Current Therapy, and Others), by End User (Hospitals, Rehabilitation Center, and Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), published by Coherent Market Insights, the global electrotherapy system market was valued at US$ 891.3 Mn in 2018, and is projected to exhibit a CAGR of 4.6% over the forecast period (2019–2027).
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Increasing approval and launch of new therapies is expected to propel growth of the global electrotherapy system market over the forecast period. For instance, in February 2019, Medtronic Plc. launched Deep Brain Stimulation (DBS) for medically-refractory epilepsy, and announced its first implantation in a patient at the Emory University in Atlanta, Georgia. Moreover, increasing prevalence of epilepsy is also expected to aid in growth of the market. For instance, according to the Epilepsy Foundation in 2015, around 3.4 million people in the U.S. have epilepsy, and one-third are estimated to be drug resistant.
Increasing incidence of neuromuscular dysfunction is expected to propel growth of the global electrotherapy system market. For instance, according to a study published in the Journal of Neuromuscular Dysfunction, in 2015, incidence rates for frequent neuromuscular disorders was between 1 and 10 per 100,000 people, except multifocal motor neuropathy, Lambert-eaton myasthenic syndrome, and Emery-dreifuss dystrophy neuromuscular dysfunction.
To know the latest trends and insights prevalent in the Global Electrotherapy System Market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/electrotherapy-system-market-to-surpass-us-13-bn-by-2027-2489
Among regions, North America is expected to account for the largest market share in the global electrotherapy system market
The market in Asia Pacific is driven by increasing geriatric population and high prevalence of neuromuscular dysfunction and chronic pain conditions in countries such as India, China, and Japan
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in March 2018, Zealmax Innovations Pvt. Ltd, launched a wide range of digital health care products such as SONICTENS, which is a combination of two proven modalities such as Ultrasound and TENS technology for pain relief into one compact sleek device.
Major players in the market are also focused on adopting partnership and collaboration strategies to expand their portfolio. For instance, in 2016, Cefaly Technology partnered with AVACARE, a South Africa-based firm, for its ‘Cefaly’ product distribution in Africa.
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Key Takeaways:
- The global electrotherapy system market is expected to exhibit a CAGR of 4.6% over the forecast period (2019–2027)
- Increasing incidence of neuromuscular dysfunction is expected to propel growth of the global electrotherapy system market
- Major players operating in the global electrotherapy system market include Medtronic Plc., Zealmax innovation Pvt Ltd, Zynex, Inc., DJO Global Inc., Nevro Corporation, Cyberonics, Inc., BTL Industries Inc., EMS Physio Ltd, STYMCO Technologies LLC, and Omron Healthcare Inc.
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