Market Size of Global Electrotherapy Devices Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Electrotherapy Market Analysis
The electrotherapy devices market is expected to register a CAGR of more than 4.2% during the forecast period.
The studied market was adversely impacted by the COVID-19 pandemic. The research article published in Practical Pain Management in January 2022 stated that patients who dealt with mental health issues during the pandemic faced worsening pain symptoms. The researchers of the above-mentioned study suggested cranial electrotherapy stimulation helps in such issues leading to the adoption of electrotherapy during the pandemic. Therefore, the COVID-19 pandemic has significantly impacted the studied market. However, as the pandemic has subsided as the adoption of such therapy and devices has increased during the pandemic, the market is expected to have stable growth.
Factors such as increasing spinal injuries, back pain, and sports injuries are primary drivers of the studied market. Electrotherapy is used to treat neurological, muscular, or muscle-nerve diseases that cause pain. Electrotherapy can be beneficial in people who experience severe sensitivity, numbness, or weakness in back muscles. According to the data published by the National Safety Council of the United States in 2021, it is estimated that around 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment in the United States in 2021. The most common activities that were frequently associated with injuries were exercise, cycling, and basketball. The injury rate for exercise was 123.8 per 100,000 population in the United States in 2021, for bicycles and accessories, it was 113.7, for basketball, it was 78.6, for skateboards, scooters, and hoverboards, it was 74.2, and for football, it was 67.2.
Moreover, according to an article published in the National Library of Medicine in April 2022, a study was conducted in China in 2021 which showed that 31.3% of high school students, 23.8% of middle school students, and 19.2% of primary school students had sustained injuries while participating in campus football activities. Thus, the high prevalence of sports-related injuries around the world is expected to boost the growth of the market.
Additionally, approval from the regulatory authorities is also propelling the market's growth. For instance, in May 2021, ITO CO., LTD., one of the pioneers of electrophysical agents in Japan, received 510(k) clearance from the United States Food and Drug Administration for its Electrical Muscle Stimulator named TMJ Pain Relief "D function" for dental use.
Therefore, due to the factors mentioned above, such as increasing spinal injuries, back pain, and sports injuries, the studied market is anticipated to witness growth during the forecast period. However, the lack of awareness of the treatment is predicted to hinder market growth.
Electrotherapy Industry Segmentation
As per the scope of the report, electrotherapy uses electric impulses and offers a range of treatments to reduce pain by relaxing muscles, improving blood circulation, repairing tissues, and promoting bone growth. The Electrotherapy Devices Market is segmented by Product Type (High Frequency, Med Frequency, and Low Frequency), Application (Nervous Disease, Muscle Injury, Inflammation, Pain Relief, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product Type | |
High Frequency | |
Med Frequency | |
Low Frequency |
By Application | |
Nervous Disease | |
Muscle Injury | |
Inflammation | |
Pain Relief | |
Others |
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Global Electrotherapy Devices Market Size Summary
The electrotherapy market is poised for stable growth, driven by increasing incidences of spinal injuries, back pain, and sports-related injuries. The market experienced a setback due to the COVID-19 pandemic, which highlighted the therapeutic benefits of cranial electrotherapy stimulation for mental health-related pain issues, thereby boosting its adoption. The rising prevalence of neurological and muscular disorders, coupled with the growing demand for nerve stimulation, is further propelling the market. Regulatory approvals, such as the FDA clearance for new electrotherapy devices, are also contributing to market expansion. Despite these positive trends, the market faces challenges due to a lack of awareness about electrotherapy treatments.
North America emerges as a significant contributor to the electrotherapy market, driven by a high incidence of sports injuries and ongoing clinical trials. The region's market growth is supported by the increasing need for electrotherapy products to address sports-related injuries and the development of innovative solutions through clinical research. The competitive landscape of the market is characterized by a few major players focusing on technological advancements to enhance their product offerings. Companies like Omron Healthcare, Zynex Medical, and Medtronic are leading the charge in this moderately competitive market, aiming to leverage their innovations to capture a larger market share.
Global Electrotherapy Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Spinal Injuries and Back Pain
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1.2.2 Rising Sports Injuries
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1.3 Market Restraints
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1.3.1 Lack of Awareness of the Treatment
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1.4 Porter Five Forces
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product Type
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2.1.1 High Frequency
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2.1.2 Med Frequency
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2.1.3 Low Frequency
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2.2 By Application
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2.2.1 Nervous Disease
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2.2.2 Muscle Injury
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2.2.3 Inflammation
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2.2.4 Pain Relief
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2.2.5 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Electrotherapy Devices Market Size FAQs
What is the current Global Electrotherapy Devices Market size?
The Global Electrotherapy Devices Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)
Who are the key players in Global Electrotherapy Devices Market?
Omron Healthcare, Eme srl, Zynex Medical, NeuroMetrix, Inc. and BTL Corporate are the major companies operating in the Global Electrotherapy Devices Market.