The Electrical Stimulation Devices by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Electrical Stimulation Devices, The electrical stimulation devices market size has grown strongly in recent years. It will grow from $7.12 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to sports and fitness applications, shift towards non-invasive therapies, clinical validation, rising chronic health conditions, regulatory support..
The electrical stimulation devices market size is expected to see rapid growth in the next few years. It will grow to $11.56 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to aging population trends, rising incidence of chronic health conditions, expanding clinical validation, supportive regulatory environment, mental health emphasis, increased focus on preventive healthcare.. Major trends in the forecast period include regulatory support and reimbursement policies, rising chronic health conditions, clinical research and evidence, shift towards non-invasive therapies, increased sports and fitness applications..
The increasing prevalence of muscle disorders is expected to propel the growth of the electrical stimulation devices market forward. Muscular disorders are a set of inherited genetic illnesses that produce muscle weakness over time. These muscle disorders may cause weakness or paralysis in the presence of an intact nervous system. Electrical stimulation devices help to reduce muscle weakness, producing a controlled and comfortable muscular contraction using skin electrodes and a portable stimulator. For instance, according to The State of Musculoskeletal Health 2021 report, published by Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, there are over 20 million people in the UK suffering from musculoskeletal disorders such as arthritis. One in three people, with half of those living in pain every day. Therefore, the increasing prevalence of muscle disorders is subsequently propelling the electrical stimulation devices market.
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The electrical stimulation devices market covered in this report is segmented –
1) Electrical Stimulation Devices Market By Device Type: Deep Brain Stimulation Devices, Neuromuscular Electrical Stimulation Devices, Sacral Nerve Stimulation Devices, Spinal Cord Stimulation Devices, Other Devices
2) Electrical Stimulation Devices Market By Application: Pain Management, Neurological & Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Other Applications
3) Electrical Stimulation Devices Market By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Technological advancements are a key trend gaining popularity in the electrical stimulation market. Major market players are introducing technologically advanced and FDA-approved electrical stimulation devices for better treatment of patients. For instance, in August 2022, Abbott Laboratories, a US-based medical device company operating in electrical stimulation devices, announced that US FDA had approved Proclaim Plus, a new technologically advanced spinal cord stimulation device based on FlexBurst360 therapy. It is a next generation of BurstDR stimulation therapy that provides broader myotomal coverage at lower amplitudes than single-area stimulation individualized pain relief for various painful disorders and expands the range of available therapies.
The electrical stimulation devices market report table of contents includes:
1. Executive Summary
2. Electrical Stimulation Devices Market Characteristics
3. Electrical Stimulation Devices Market Trends And Strategies
4. Electrical Stimulation Devices Market - Macro Economic Scenario
5. Global Electrical Stimulation Devices Market Size and Growth
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31. Global Electrical Stimulation Devices Market Competitive Benchmarking
32. Global Electrical Stimulation Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electrical Stimulation Devices Market
34. Electrical Stimulation Devices Market Future Outlook and Potential Analysis
35. Appendix
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