Overview and Scope
Electrical stimulation devices are modest electrical devices attached to the skin with electrodes and worn externally by patients used for lowering acute post-operative pain and swelling, treating chronic intractable pain. It is a device use to emit gentle electrical pulses through the skin useful in treating a variety of nerve and musculoskeletal pain disorders.
Sizing and Forecast
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..
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Segmentation & Regional Insights
The electrical stimulation devices market covered in this report is segmented –
1) By Device Type: Deep Brain Stimulation Devices, Neuromuscular Electrical Stimulation Devices, Sacral Nerve Stimulation Devices, Spinal Cord Stimulation Devices, Other Devices
2) By Application: Pain Management, Neurological & Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
North America was the largest region in the electrical stimulation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the electrical stimulation devices market report during the forecast period. The regions covered in the electrical stimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the electrical stimulation device market are developing innovative products, such as nerve stimulators, to meet larger customer bases, more sales, and increase revenue. Nerve stimulators are medical devices designed to deliver controlled electrical impulses to nerves in the body. For instance, in September 2022, Checkpoint Surgical, a US-based medical device company, launched Checkpoint Gemini. The standout feature of Checkpoint Gemini lies in its capacity to deliver exceptionally precise stimulation. This device is engineered to enable highly accurate direct nerve stimulation, even at the fascicular level. What sets Gemini apart is its innovative bipolar probe design, which concentrates the energy delivered into a small, targeted area. This design grants surgeons enhanced clarity, empowering them to discern which specific fascicle within a nerve is responsible for a particular response. The precision offered by Checkpoint Gemini marks a notable advancement in nerve stimulation technology.
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
…
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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