Rise in popularity of sports, surge in demand for fitness products, and increase in incidence of muscle disorder and diseases drive the growth of the global muscle stimulator market.
PORTLAND, Ore., Dec. 7, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Muscle Stimulator Market By Product Type (Neuromuscular Electrical Stimulation, Functional Electrical Stimulation, Interferential, Burst Mode Alternating Current, Microcurrent Electrical Neuromuscular Stimulator, and Others), Modality (Portable & Handheld and Table Top), Application (Pain Management, Muscle Rehabilitation, Muscle Atrophy, Muscle Toning & Strengthening, Muscle Spasticity & Spasms, and Others), and End User (Physical Therapy & Rehabilitation Clinics, Hospitals, Ambulatory Surgery Centers, and Home Care): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global muscle stimulator market size was valued at $122.46 million in 2020, and is projected to reach $183.88 million by 2030, witnessing a CAGR of 4.1% from 2021 to 2030.
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Drivers, restraints, and opportunities
Rise in popularity of sports, surge in demand for fitness products, and increase in incidence of muscle disorder and diseases drive the growth of the global muscle stimulator market. However, lack of usage guidelines and safety concerns and availability of alternative therapies hinder the market growth. On the other hand, rise in technology integration creates new opportunities in the coming years.
Covid-19 Scenario
- Owing to postponement or cancellation of elective surgeries in hospitals and clinics, the demand for muscle stimulators decreased considerably. Neurometrix Inc. reported a decrease in net sales by nearly 20% in the fiscal year, 2019-2020.
- Many companies put their new investments and expansion plans on hold due to economic uncertainties that occurred due to the pandemic. However, the situation is expected to recover post-lockdown and roll-out of vaccination programs across several countries.
The neuromuscular electrical stimulation segment to maintain its leadership status during the forecast period
Based on product type, the neuromuscular electrical stimulation segment accounted for the highest share in 2020, contributing to more than half of the global muscle stimulator market, and is estimated to maintain its leadership status during the forecast period. This is due to surge in prevalence of arthritis and increasing sports injuries. However, the interferential segment is expected to witness the fastest CAGR of 18.1% from 2021 to 2030.
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The physical therapy and rehabilitation clinics segment expected to offer lucrative opportunities
Based on end user, the physical therapy and rehabilitation clinics segment contributed to the highest share in 2020, holding nearly two-fifths of the global muscle stimulator market, and is expected to maintain its lead position throughout the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 4.3% from 2021 to 2030. This is due to preference of physiotherapists toward stimulators as compared to manual techniques. The research also analyzes the segments including hospitals, ambulatory surgery centers, and home care.
North America to continue its dominance in terms of revenue by 2030
Based on region, North America held the highest market share in 2020, accounting for more than two-fifths of the global muscle stimulator market, and is estimated to continue its dominance in terms of revenue by 2030. This is due to availability of advanced therapeutics, high level of awareness, and heavy expenditure by the government on healthcare. However, Asia-Pacific is expected to register the highest CAGR of 5.5% during the forecast period, owing to surge in awareness in the region and supportive government initiatives.
Leading market players
- AxioBionics LLC
- Beurer GmbH
- BioMedical Life Systems, Inc.
- Colfax Corporation (DJO Global Inc.)
- EMS Physio Ltd.
- Liberate Medical
- OG Wellness Technologies Co., Ltd.
- RS Medical
- Zimmer MedizinSysteme GmbH
- Zynex Medical
"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
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