Electrical Stimulation Devices Market – Scope of the Report
Electrical stimulators refer to small electronic gadgets that are usually worn by a patient. It is affixed to the patient’s skin by way of electrodes. Electrical stimulators might find use for a wide range of purposes. It could be used for the treatment of chronic intractable pain, lessening acute post-operative swelling and pain, diminishing spasticity and many others. Such wide range of uses in the medical industry is likely to favor growth of the global electrical stimulation devices (ESDs) market over the years of assessment.
Incontinence management, movement and neurological disorder management, pain management, metabolism and GIT management, and musculoskeletal disorders management comprise broad areas of applications of electrical stimulation gadgets. The global electrical stimulation devices (ESDs) market is expected to observe rapid growth riding high on such broad areas of applications.
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Global Electrical Stimulation Devices (ESDs) Market: Overview
Electrical stimulation devices (ESDs) in recent years have garnered wide attention in a variety of areas such as therapeutics, sports medicine, and cosmetics. These devices are gaining increasing acceptance as modern, complementary strength training methods for athletes and as potential methods for pain management in patients with musculoskeletal injuries. Compared to other traditional technologies, ESDs are also proving to be promising as rehabilitation tool in physiotherapy world over. Apart from this, ESDs are soaring in popularity in esthetics. ESDs work by electrically stimulating and contracting muscles with the use of electric impulses. In various regions, the scope of these devices is generating widespread interest among patient populations needing physiotherapies to manage chronic pain and among athletes to achieve specific training goals.
The growing awareness of the potential and the efficacy of electrical stimulation methods for pain recovery and training, notably in developing and developed countries, is noticeably boosting their demand. Recent research and clinical trials into developing their applications in medical physiology are likely to steadily expand the horizon of the market.
The global electrical stimulation devices market stood at US$3.8 billion in 2014 and projected to reach a worth of US$6.5 billion by 2024 end. The market is projected to clock 6.0% CAGR during the forecast period of 2015–2023.
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Extensively Rising Applications in Pain Management in Asia Pacific Account for its Prominence
The various regional market of ESDs are Asia Pacific, the Middle East and Africa, North America, Europe, among Latin America. Of these, North America leads the pack. In 2014, it accounted for the leading global share of 43.5% and contributed a substantial revenue of US$1.6 billion in the same year. The regional market is expected to hold its sway in the coming years as well, driven by the notably rising burden of various diseases caused by lifestyle actors and the growing prevalence of sports injuries. The rise in geriatric population suffering from chronic pain and other indications. The presence of a robust healthcare system in the region will also bolster the uptake during the assessment period.
Howbeit, Asia Pacific is expected to experience significant strides in the uptake of ESDs for various applications. The regional market is anticipated to rise at the leading 6.90% CAGR from 2015 to 2024. The rapidly rising elderly populations and the marked prevalence of various types of pain are crucial factors likely to support a swift uptake of ESDs in this region. Furthermore, a rapidly rising case of neurological disorders and a promising life expectancy of populations in numerous countries in the region are significant factors fueling the demand for ESDs in Asia Pacific.
This report concludes with profiles of key players in the global electrical stimulation devices market. The market study outlines the companies in terms of overview, financial overview, product portfolio, business strategies, and recent developments. Major organizations profiled in this study include Boston Scientific Corporation, BTL Industries, Inc., Cyberonics, Inc., DJO Global, EnteroMedics Inc., Medtronic plc, Nevro Corp., NeuroMetrix, Inc., St. Jude Medical, Inc., Uroplasty, Inc. (Cogentix Medical), and Zynex, Inc., amongst others.
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