The electrotherapy systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electrotherapy Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electrotherapy systems market size has grown strongly in recent years. It will grow from $4.55 billion in 2023 to $4.96 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to the rising prevalence of spinal injuries due to accidents, growth in the aging population, increase in health expenditures, rising incidences of back pain and neck pain, and increasing focus on non-invasive therapies.
The electrotherapy systems market size is expected to see strong growth in the next few years. It will grow to $7.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to Increasing approval of electrotherapy systems, strong emphasis on chronic pain management, rising healthcare expenditures supporting the adoption of electrotherapy systems, focus on personalized pain relief solutions for chronic conditions, increasing awareness and acceptance of electrotherapy systems among patients and healthcare providers. Major trends in the forecast period include technological advancements, launch of innovative products, approval of breakthrough devices by regulatory bodies, regulatory approvals for new electrotherapy technologies, focus on pain management in high-contact sports such as football, rugby, and wrestling.
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Scope Of Electrotherapy Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electrotherapy Systems Market Overview
Market Drivers –
The rising prevalence of spinal and sports injuries is expected to propel the growth of the electrotherapy systems market going forward. Spinal and sports injuries refer to physical trauma or damage sustained by the spinal cord, vertebrae, or surrounding tissues, as well as injuries incurred during sports or athletic activities. The rising prevalence of spinal and sports injuries is attributed to increased participation in high-impact activities, intensified competitive sports, and inadequate injury prevention measures. Spinal and sports injuries utilize electrotherapy systems for targeted pain relief, muscle rehabilitation, and tissue healing due to their non-invasive and effective treatment modalities. For instance, in October 2022, according to a report published by the New Zealand Spinal Trust, a New Zealand-based non-profit organization dedicated to assisting individuals with spinal cord injuries, the incidence of sports and recreational spinal cord injuries (SCI) saw a rise, climbing from 14% in 2020 to 19% in 2021. Furthermore, in May 2022, according to the National Library of Medicine, a US-based government library, every year between 250,000 and 500,000 people suffer spinal cord injuries around the world. Every year, around 17,000 new spinal cord injuries are recorded in the United States, and it is estimated that 282,000 Americans have survived spinal cord injuries. Therefore, the rising prevalence of spinal and sports injuries is driving the growth of the electrotherapy systems market.
Market Trends –
Major companies operating in the engineering software market are focusing on developing technologically advanced solutions, such as digital engineering solutions, to provide a comprehensive solution for modern manufacturing and gain a competitive edge in the market. Digital engineering solutions refer to a range of technology-driven approaches and methodologies used in the design, development, and maintenance of engineering products and systems. For instance, in November 2023, CAPTURE 3D, a US-based software company that provides 3D metrology solutions, launched the ZEISS INSPECT, a 3D metrology software designed to address contemporary manufacturing and engineering challenges. It is developed to analyze 3D, CT (computed tomography), or motion data and supports the entire inspection workflow, from scanning to analyzing and reporting. ZEISS INSPECT enables users to work with optical 3D data, volume data, and airfoils regardless of the metrology method used for data collection. This helps to simplify procedures, increase efficiency, and address the challenges associated with measuring technology. Additionally, it features the Autosurfacing app for automatically converting scan data into high-precision CAD (computer-aided design) models.
The electrotherapy systems market covered in this report is segmented –
1) 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), Other Technologies
2) By Application: Chronic Wound Healing, Neuromuscular Dysfunction, Pain Management, Tissue Repair, Musculoskeletal Disorder, Physical Therapy, Iontophoresis, Other Applications
3) By End-User: Clinics, Hospitals, Long-term Care Centers, Rehabilitation Centers, Other End-Users
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Regional Insights –
North America was the largest region in the electrotherapy systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electrotherapy systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the electrotherapy systems market are Abbott Laboratories, Phoenix Healthcare Group, Medtronic PLC, Boston Scientific Corporation, Omron Healthcare Inc., St. Jude Medical Inc., DJO Global LLC, LivaNova PLC, BTL Industries LLC, Beurer GmbH, Nevro Corporation, Cyberonics Inc., Zynex Inc., Dynatronics Corporation, Uroplasty Inc., North Coast Medical Inc., PureCare by Fabrictech, NeuroMetrix Inc., TensCare Ltd., Cionic Inc., EMS Physio Ltd., STYMCO Medical, Neuro20 Technologies Corp., Eme srl
Table of Contents
1. Executive Summary
2. Electrotherapy Systems Market Report Structure
3. Electrotherapy Systems Market Trends And Strategies
4. Electrotherapy Systems Market – Macro Economic Scenario
5. Electrotherapy Systems Market Size And Growth
…..
27. Electrotherapy Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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