Global Iontophoresis Units Market: Overview
Over the forecast period of 2020 to 2030, the global iontophoresis units market is anticipated to grow at a steady compound annual growth rate (CAGR). As per Transparency Market Research, a number of growth factors such as increasing research and development, sharper focus on technology, and growing incidence of rheumatoid arthritis and hyperhidrosis. A result of this growth would be higher market worth by the end of the stated forecast period. Players will also witness growth of untapped growth opportunities in the market landscape.
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Global Iontophoresis Units Market: Notable Developments
The global iontophoresis units market players are dabbling with a host of measures, aiming at growth over the forecast period. These include launch of better products, improvement of portfolio of products, and entering notable alliances such as synergistic collaborations and partnerships, and strategic acquisitions and mergers. Some notable developments in this regard are:
2019: In the September of the year, three new machines were launched by Hidrex GmbH Rehatechnik and IontoCentre. These improved machines are called Hidrex ConceptION, Hidrex ConnectION, and Hidrex ClassicION. It is notable to point out here that IontoCentre is a UK supplier for Hidrex, which is a German-based distributor and producer of medical technology and electronic aids. And, the action is set to help players tap into broader base of people.
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Top players in the global iontophoresis units market are:
- Organix GmbH & Co. KG
- Hidrex GmbH Rehatechnik
- Chattem, Inc.
- RA Fischer Co.
Global Iontophoresis Units Market: Key Trends and Drivers
Growing demand and increasing popularity of non-invasive treatments is set to create notable demand in the global iontophoresis units market over the forecast period, as per Transparency Market Research. It further notes that this is but one of the many growth factors that are set to mark the market landscape, taking it on a higher growth trajectory. Some of these are:
- Increasing incidence of hyperhidrosis and rheumatoid arthritis is a notable growth factor in the global iontophoresis units market. Increase in investment, directed towards research and development is also being noted in a number of other fields such as dentistry.
- Increase in number of accidents that might lead to injuries in muscle, cartilage, or ligament is also a significant contributor of growth in the global iontophoresis units market as these create demand for easy drug administration. A number of health insurance companies are covering this as medical therapy now.
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Global Iontophoresis Units Market: Regional Analysis
Prominent regional market in the global iontophoresis units market landscape is set to be North America over the aforementioned forecast period. A conducive research and development (R&D) environment, marked with extensive and intense activities is a major growth factor, contributing notably to growth in the North American regional market. Additionally, significant strides have been made in technology. The region sees a good adoption rate of advanced tools and techniques. This is fuelling growth in the market further. This size of the market share would be followed by that of Europe.
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On the other hand, a high compound annual growth rate is expected to be charted by the Asia Pacific (APAC) region. This can be attributed to implementation of awareness programs in the region along with an increase in number of research and development projects, especially in nations such as Australia and Japan. These nations are anticipated to lead the region in terms of growth.
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