The global electrotherapy market is expected to reach a market size of USD 1.30 Billion by 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. The report provides detailed insights into electrotherapy system market trends, industry trends, consumer trends, market size, market share, market revenue growth, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in electrotherapy system market size over the forecast period, 2020–2028. Rapid advancements of healthcare technologies, rising adoption of electrotherapy units for sports injuries, growing geriatric population, and increasing prevalence of chronic pain syndrome are some key factors fueling revenue growth of the global electrotherapy market. The Electrotherapy report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials.
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Electrotherapy systems are primarily used for managing chronic and nerve pain, improving blood circulation, restoring range of motion and movement, managing musculoskeletal system conditions, as well as enhancing muscle strength and sensation. Varying market trends can be attributed to inclining revenue growth of the global electrotherapy system market going ahead. electrotherapy system market trends include rising focus by major players on product/service expansion into new and untapped domestic markets and rising competition. Other positive electrotherapy system market trends include rising demand and deployment in respective sectors/industries in major and developing countries. In addition, implementation of favorable government policies, advancements in technology, and steady economic growth across various regions and countries are factors expected to continue to result in further electrotherapy system market trend evolution and changes going ahead. Electrotherapy is a painless and non-invasive treatment for pain management. Electrotherapy systems consists of a battery-powered unit attached by wires to electrode pads.
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In terms of electrotherapy system market share and revenue contribution to the global electrotherapy system market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in electrotherapy system market share.
The market intelligence report on the Electrotherapy Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Further Key Findings in the Report:
- In January 2018, Omron Healthcare introduced its first-ever TENS (Transcutaneous Electrical Nerve Stimulation) unit, named Avail. This wireless unit manages acute and chronic pain syndrome and can be operated through Omron’s mobile application.
- Transcutaneous Electrical Nerve Stimulation (TENS) segment accounted for significantly high revenue share contribution to the global electrotherapy market in 2020. The segment is also expected to register a robust CAGR during forecast period. Transcutaneous electrical nerve stimulation systems are used to treat chronic and nerve pain.
- The market in Europe accounted for a robust double-digit revenue share contribution to the global market in 2020. Key factors such as technological advancements and rising adoption of electrotherapy treatment for pain management are driving revenue growth of the market in this region.
- Key players operating in the market are Medtronic Plc., AliMed, Inc., St. Jude Medical Inc., Cogentix Medical, Inc., Zynex Medical, NeuroMetrix Inc., DJO Global Inc., Cyberonics Inc., Nevro Corp., and Boston Scientific Corp.
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Region wise performance of the Electrotherapy industry
North America electrotherapy system market trend scenario has significant impact on other regional market trends. North America electrotherapy system market accounted for largest revenue share in 2020 and is expected to continue to maintain its dominance over other regional markets over the forecast period. Presence of major players in countries in the region is a key factor driving steady change in overall electrotherapy system market trends.
Asia Pacific electrotherapy system market is expected to register comparatively faster revenue growth than other regional markets over the forecast period. This can be attributed to varying electrotherapy system market trend scenarios in countries such as China, India, South Korea, and others. These scenarios with regard to domestic market trends and international market trends and varying impacts play a major role in growth of the Asia Pacific market.
Asia Pacific market share contribution to the global electrotherapy system market is expected to continue to register comparatively faster growth rate than other regional markets between 2020 and 2028. Increasing population, favorable government policies and initiatives, rising disposable income among consumers in countries in the region, influence of electrotherapy system market trends in other countries and regions, and steady economic growth are some key factors driving market revenue growth of the Asia Pacific electrotherapy system market.
Europe electrotherapy system market size and revenue growth is primarily supported by electrotherapy system market trends such as continuous developments in major countries in the region, robust focus on research and development initiatives by major firms, and changing market trends in countries in other major regions.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Electrotherapy industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the electrotherapy system market across different regions?
- Who are the major driving forces expected to decide the fate of the Electrotherapy industry worldwide?
- Who are the prominent market players making a mark in the electrotherapy system market with their winning strategies?
- Which Electrotherapy industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the electrotherapy system market?
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