Market Trends of Electrical Stimulation Devices Industry
This section covers the major market trends shaping the Electrical Stimulation Devices Market according to our research experts:
Pain Management is Expected to Hold the Largest Market Share in the Electrical Stimulation Devices Market
The dominant share is retained by the pain management segment owing to the attributes such as the strong prevalence of chronic pain ailments and increased use of products to manage pain owing to their high therapeutic benefits.
Chronic pain is among the world's leading causes of suffering and injury, and a prominent indication of both AIDS/HIV and cancer. As per the statistics from the American Academy of Pain Medicine 2018, around 126 million individuals experience pain in the US. It is known that chronic pain affects more than 1.5 billion people worldwide. Therefore the increasing chronic pain among the individuals is found increasing the overall market share.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall electrical stimulation devices market, throughout the forecast period. This is owing to factors such as the rising prevalence of chronic disorders. An estimated 45 percent or about 33 million Americans were diagnosed with at least one chronic disease, according to the National Center for Biotechnology Information (NCBI), March 2018. Therefore the increase in chronic pain is further expected to upsurge the demand of stimulator devices in the coming years.
Additionally, the presence of key players that manufacture electrical muscle stimulation devices in the region will continue to drive the market’s growth in the United States throughout the projected period.
