Market Synopsis:
Electrotherapy is a type of treatment in which electrical impulses are used in stimulating nerves and muscles for multiple purposes which majorly includes pain management, stimulation of muscle contraction, stimulation of physiochemical changes in the body and others.
The use of electrotherapy for various therapeutic purposes is increasing, hence driving the growth of the global electrotherapy market. Market Research Future (MRFR), a firm that excels in healthcare sector among others, has recently published a report on electrotherapy market asserting that Electrotherapy Market Size was valued at USD 0.8 billion in 2022 and is projected to grow from USD 0.83 Billion in 2023 to USD 1.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.80% during the forecast period (2023 - 2030). The report majorly focuses on various segments that are driving this market and has provided the current opportunities, challenges as well as the restraints affecting the growth of global electrotherapy market.
The inclination of physiotherapists and athletic trainers is more towards the inclusion of electrotherapy system as an adjunct to the traditional physiotherapy treatment. The rapid adoption of advanced technology in the healthcare sector is increasing the demand for electrotherapy system in the market. The increase in the incidence of spinal injuries and growing prevalence of diabetes and obesity are some of the factors fuelling the expansion of global electrotherapy market. The rapid inclusion of electrotherapy system for re-education after nerve injury or trauma, to reduce muscle damage due to immobilization and to increase the production of vitamin D and corticosteroids is driving the global electrotherapy market to reach higher verticals.
Electrotherapy is believed to stimulate the intracellular activities in the body leading to faster healing of wounds. It is widely used in sports and athletics sector by trainers and physiotherapist as a pain management treatment to alleviate the pain in 5 to 30 minutes depending on the degree of injury. The augmentation in technological advancement and increasing dependency on advanced healthcare procedures to provide or receive efficient and quick remedies is one of the major factors that are driving the global electrotherapy market. On the flip side, lack of usage guidelines, availability of substitute products and low awareness regarding the available treatments are likely to hamper the growth of global electrotherapy market.
Key Players of Global Electrotherapy Market:
Some of the prominent players in the global electrotherapy market are BTL (Czech Republic), Eme Srl (Italy), EMS Physio Ltd. (UK), Enraf-Nonius B.V.(Netherlands), gbo Medizintechnik AG (Germany), MEDTRONIC (Republic of Ireland), Omron Healthcare, Inc.(US), Phoenix Healthcare (UK), Pure Care (US), STYMCO Technologies, LLC (US), Walgreen Co. (US), and others.
Market Segmentation:
The Global Electrotherapy Market Outlook has been segmented on the basis of type, devices and application. On the basis of types, the electrotherapy market is segmented into extracorporeal shock wave therapy, interferential, magnetic field therapy (constant energy magnets, pulsed electro-magnetic field energy), ultrasound therapy, transcutaneous electrical nerve stimulation (TENS) therapy (conventional TENS, acupuncture-like TENS (AL-TENS), intense TENS), and others.
On the basis of devices, the global electrotherapy market is segmented into transcutaneous electrical neural stimulator (TENS), electronic muscle stimulator (EMS), interferential stimulator (IF), high voltage pulsed galvanic stimulator (HVPGS), micro-current stimulator (MC) or micro-current electrical neuromuscular stimulator (MENS), and others.
On the basis of application, the global electrotherapy market is segmented into orthopedics, cardiology, urology, pain management (chronic pain, chronic fatigue, migraine headaches, wound healing, diabetic nerve pain, stimulating bone growth), acute and chronic edema, and others.
Detailed Regional Analysis:
Regionally, the global electrotherapy market is segmented into North America, Europe, Asia-Pacific (APAC) and Middle East and Africa. Due to the increasing adoption of electrotherapy system in sports injury treatments and other purposes, North America is currently the largest market for electrotherapy. The use of electrotherapy as rehabilitation and preventive tool for partially or completely immobilized patients is driving the market in the European region. On the other hand, Asia-Pacific region is considered to be the fastest growing electrotherapy market and it may out-run North America for being the largest market by the end of 2023. Whereas, Middle-East and Africa are likely to have limited growth in the electrotherapy market due to the lack of awareness of the treatment and devices.
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