SEATTLE, Sept. 26, 2019 /PRNewswire/ -- According to Coherent Market Insights, the global electrotherapy system market was valued at US$ 891.3 Million in 2018, and is projected to exhibit a CAGR of 4.6% over the forecast period (2019-2027).
Key Trends and Analysis of the Electrotherapy System Market:
Key players are focusing on gaining approvals for novel electrotherapy system devices and launching them in the market. Launches of such novel devices is expected to drive the global electrotherapy system market growth over the forecast period. For instance, in December 2015, iTENS a healthcare and technology company received the U.S. Food and Drug Administration approval for its wireless transcutaneous electrical nerve stimulation (TENS) therapy device for pain relief, which works via iPhone or Android-based app, and was launched at CES Consumer Electronics Show 2016 held in U.S, organized by the Consumer Technology Association (CTA).
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Moreover, in 2015, Nevro Corporation announced that the U.S. FDA approval for Senza, a spinal cord stimulation system delivering HF10 therapy (pain relief therapy).
Furthermore, high prevalence of neurological disorders is expected to increase the demand for electrotherapy system and support global electrotherapy system market growth over the forecast period. For instance, according to data published by the Global Burden of Disease, in 2015, incidence of neurological disorders was 10.2% globally. Mortality rate from neurological disorders accounted for16.8% of global deaths.
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Key Market Takeaways:
- The market is expected to exhibit a CAGR of 4.6 % over the forecast period (2020-2027). This growth is attributed to frequent launches and approvals of novel products, and high prevalence of neuromuscular dysfunction and chronic pain management, which is expected to increase demand for electrotherapy system devices and equipment.
- Key players in the market are involved in strategic partnerships and collaborations for development of novel electrotherapy system devices and equipment. For instance, in December 2016, Cefaly Technology entered into a partnership contract with South Africa-based firm 'AVACARE' for extension of 'Cefaly' product distribution in Africa.
- Asia Pacific is expected to be a potential market owing to increasing awareness about healthcare and high prevalence of neuromuscular disorders in China, India, and Japan
- Key players operating in the global electrotherapy system market include, Medtronic Plc., Zealmax innovation Pvt Ltd, Zynex, Inc., DJO Global Inc., Nevro Corporation, Cyberonics, Inc., BTL Industries Inc., EMS Physio Ltd, STYMCO Technologies LLC, and Omron Healthcare Inc.
Report Segmentation:
- Global Electrotherapy System Market, By Technology :
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Neuromuscular Electrical Stimulation (NMES)
- Inferential Current (IFC)
- Percutaneous Electrical Nerve Stimulation (PENS)
- Electronic Muscle Stimulator (EMS)
- Spinal Cord Stimulation (SCS)
- Electro-acupuncture (EA)
- Others
- Global Electrotherapy System Market, By Application:
- Chronic Wound Healing
- Neuromuscular Dysfunction
- Pain Management
- Tissue Repair
- Musculoskeletal Disorder
- Physical Therapy
- Iontophoresis
- Others
- Global Electrotherapy System Market, By Therapy :
- Extracorporeal Shock Wave Therapy
- Magnetic Field Therapy
- Ultrasound Therapy
- Microcurrent Therapy
- Interferential Current Therapy
- Others
- Global Electrotherapy System Market, By End-user:
- Hospitals
- Rehabilitation Centers
- Clinics
- Global Electrotherapy System Market, By Geography:
- North America
- By Country:
- U.S.
- Canada
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Country/Region:
- Central Africa
- South Africa
- North Africa
- Company Profiles
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