Global Electrotherapy Devices Market Insights Forecasts to 2030

• The Electrotherapy Devices Market Size was valued at USD 1.5 Billion in 2021.
• The Market is Growing at a CAGR of 4.1% from 2022 to 2030
• The Worldwide Electrotherapy Devices Market Size is expected to reach USD 1.7 Billion by 2030
• Asia Pacific is expected To Grow the fastest during the forecast period

The Global Electrotherapy Devices Market is expected to reach USD 1.7 Billion by 2030, at a CAGR of 4.1% during the forecast period 2022 to 2030.

Electrotherapy is the process of using electrical currents to the body to treat medical conditions. Electrotherapy is a powerful treatment that many physiotherapists use to treat chronic pain, arthritis, musculoskeletal injuries, muscle atrophy, sports injuries, nerve discomfort, and nerve pain by using targeted and regulated electrical stimulation. Through the skin's surface, electrotherapy gently and non-invasively activates muscles and nerves. Numerous electrotherapies, such as transcutaneous electrical nerve stimulation, therapeutic ultrasonography, electrical muscle stimulation, and interferential current therapy (IC therapy), are used to alleviate chronic pain.

Impact of COVID 19 On Global Electrotherapy Devices Market

The COVID 19 pandemic has significantly impacted the global electrotherapy devices market. An article published in Practical Pain Management stated that patients who are suffering from mental health illness at the time of pandemic has dealt with worsening pain symptoms. The report stated that cranial electrotherapy stimulation helps in such issues lead to the use of electrotherapy over the pandemic. However, as COVID 19 has subsided because of the use of such devices as well as therapies has increased over the pandemic is expected to witness the stable growth.

Key Driving Factors

Increasing competitiveness as well as launch of new product is the important factor which is propelling the market growth, increasing geriatric population, increasing prevalence of chronic conditions, as well as rising regulatory approvals from key market players are the other factors which propelling the market growth. Apart from this, increasing technological advancements as well as modernization in the healthcare devices and the increasing demand from developing countries is contributing towards the growth of the market.

Key Challenging Factors

On the other hand, the lack of awareness among the consumers regarding the product in the developing economies and the availability of substitutes are hampering the market growth and are acting the key restraining factors over the forecast period.

Market Segmentation

Type Insights

Transcutaneous electrical nerve stimulation segment is dominating the market over the forecast period

On the basis of type, the global electrotherapy devices market is segmented into Transcutaneous electrical nerve stimulation, Therapeutic ultrasound, Others. Among these, the transcutaneous electrical nerve stimulation segment is dominating the market over the forecast period. The growth is attributed to the increasing prevalence of chronic health ailments like diabetes and osteoarthritis. Apart from this, the increasing number of new product launches as well as product approval for transcutaneous electrical nerve stimulation devices are further contributing towards the segmental growth.

Application Insights

Pain management segment accounted the largest market share over the forecast period

Based on the application, the global electrotherapy devices market is segmented into Pain management, Anxiety and Insomnia Management, Sports Medicine, Others. Among these, the pain management segment accounted the largest market share over the forecast period. The main reason behind the growth is the increasing cases of chronic pain among geriatric population and launch of lots of new electrotherapy devices and getting product approvals. The need for electrotherapy for the treatment of chronic pain is driven by an increase in the prevalence of back pain and neck pain brought on by a sedentary and unhealthy lifestyle, a lack of physical activity, and the intake of bad food.

End User Insights

Hospitals & Clinics segment is dominating the market over the forecast period

On the basis of end user, the global electrotherapy devices market is segmented into Hospitals and clinics, Rehabilitation Centers. Among these, hospitals & clinics segment is dominating the market over the forecast period owing to the increasing number of construction of hospitals and clinics and rising investment made by the government in order to develop healthcare infrastructure. Apart from this, the increasing geriatric population is expected to increase the prevalence of chronic pain which will drive the demand for the hospitals and clinics.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the Electrotherapy Devices market over the forecast period. The growth is attributed to the increasing availability of key market players as well as the technological advancement in the healthcare sector.

Asia Pacific region, on the other hand is witnessing the fastest market growth over the forecast period due to the increasing number of initiatives taken by the governments of various countries in this region in order to develop healthcare infrastructure along with the increasing geriatric population.

Recent Market Developments

• In January 2021, Boston Scientific Corporation has launched WaveWriter Alpha which is a portfolio of spinal cord stimulator devices which helps in combining therapeutic choices for personalized pain allevation.

List of Key Companies

• Abbott Laboratories
• AliMed
• Colfax
• ems physio ltd
• HMS Medical system
• Medtronic, Inc.
• Omron Healthcare
• Palex Medical SA
• Zynex Medical, Skin Inc.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Electrotherapy Devices Market based on the below-mentioned segments:

Electrotherapy Devices Market, Product Analysis

• Metered dose inhaler
• Dry powder inhaler

Electrotherapy Devices Market, Type Analysis

• Branded Medication
• Generics Medication

Electrotherapy Devices Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa