Electrotherapy System Market
Number of pages: 100 | Report Format: PDF | Published date: May 25, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 1.026 billion |
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Revenue Forecast in 2031 |
US$ 1.62 billion |
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CAGR |
5.26% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Treatment Type, Technology, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global electrotherapy system market was valued at US$ 1.026 billion in 2022 and is expected to register a revenue CAGR of 5.26% to reach US$ 1.62 billion by 2031.
Electrotherapy System Market Fundamentals
Electrotherapy systems are medical devices that utilize electrical energy to provide therapeutic effects for various conditions. These systems are mostly used in pain management of musculoskeletal injuries, sports injuries, wound healing, and neurological disorders. Moreover, electrotherapy systems are also designed to deliver controlled electrical currents to specific body areas, targeting nerves, promoting healing, and improving muscle function. There are different types of electrotherapy systems available, each with its own specific application. Some common types include transcutaneous electrical nerve stimulation (TENS), electrical muscle stimulation (EMS), interferential current (IFC) therapy, and pulsed electromagnetic field (PEMF) therapy.
In the forecast years, many new trends and opportunities can boost the demand for electrotherapy systems. Portable and user-friendly devices with wireless connectivity and smartphone integration are in demand, allowing patients to easily incorporate electrotherapy into their daily routines. These technological enhancements improve convenience, customization, and patient compliance. In addition, electrotherapy systems are increasingly heavily adopted in treating sports injuries. Athletes and fitness enthusiasts recognize electrotherapy's benefits in injury prevention, muscle recovery, and performance enhancement.
Top players are investing in robust marketing campaigns to create awareness among healthcare professionals and patients about the advantages of electrotherapy systems. They are also forging strategic partnerships with clinics, hospitals, and sports organizations to gain access to a wider customer base. Furthermore, providing comprehensive training and support services to healthcare professionals and users is another strategy being employed to foster trust and ensure the effective utilization of electrotherapy systems.
Electrotherapy System Market Dynamics
The rising prevalence of musculoskeletal injuries such as rheumatoid arthritis, osteoarthritis, psoriatic arthritis, gout, and spondylarthritis is the prominent factor increasing the demand for electrotherapy systems. According to the World Health Organization's report in July 2022, approximately 1.71 billion individuals globally are affected by musculoskeletal conditions. The numbers are expected to increase significantly in the forecast years due to continuously changing preferences in terms of diet, increasing incidences of obesity, and a rising geriatric population. According to the Centres for Disease Control and Prevention, nearly 23% of overweight and 31% of obese adults in the United States have been diagnosed with arthritis in 2021.
Additionally, technological advancements in electrotherapy can influence the electrotherapy system market. For instance, bioresorbable, wireless, and battery-free electrotherapy systems represent an innovative and promising development in the electrotherapy field. These systems combine advanced technologies to offer unique advantages and address specific challenges. Integrating bioresorbable, wireless, and battery-free technologies in electrotherapy systems opens exciting possibilities for various medical applications. For example, these systems can be used in postoperative pain management, wound healing, and targeted tissue regeneration. The bioresorbable nature ensures that the system degrades naturally, eliminating the need for additional removal surgeries. The wireless and battery-free operation enhances patient comfort and convenience, allowing them to move freely during treatment.
Despite the widespread use of electrotherapy systems, the lack of awareness and education among healthcare professionals and patients about the potential benefits and applications of electrotherapy systems.
Electrotherapy System Market Ecosystem
The global electrotherapy system market is analyzed from four perspectives: treatment type, technology, end user, and region.
Electrotherapy System Market by Treatment Type
Based on treatment type, the global electrotherapy system market is segmented into transcutaneous spinal electroanalgesia (TSE), transcutaneous electrical nerve stimulation (TENS), spinal cord stimulation (SCS), pulsed short wave diathermy (PSWD), percutaneous electrical nerve stimulation (PENS), micro-current therapy, interferential current therapy (IC), electro-acupuncture (EA).
The transcutaneous electrical nerve stimulation segment accounted for the majority of revenue share in 2022. Transcutaneous electrical nerve stimulation is a widely recognized and established form of electrotherapy that utilizes low-voltage electrical currents to alleviate pain. Its popularity can be attributed to its non-invasive nature and its effectiveness in managing various types of pain in chronic and acute conditions. Moreover, patients and healthcare professionals increasingly prefer transcutaneous electrical nerve stimulation due to its small size and portability features, increasing the demand for transcutaneous electrical nerve stimulation systems.
Electrotherapy System Market Application
Based on application, the global electrotherapy system market is segmented into urine and fecal incontinence, neuromuscular dysfunction, sports injury treatment, pain management, tissue repair, iontophoresis, and acute and chronic edema.
The pain management application accounted for the majority of revenue share in the global electrotherapy system market. This is due to the increasing prevalence of chronic pain conditions such as arthritis and back pain, leading to a growing demand for non-invasive pain management solutions. According to Centers for Disease Control and Prevention, the percentage of adults with back pain increased with age, from 28.4% for those aged 18–29 and 35.2% for those aged 30–44 to 44.3% for those aged 45–64 and 45.6% for those aged 65 and over. Women (40.6%) were more likely to experience back pain than men (37.2%). Additionally, the increase in the geriatric population and technological advancements in electrotherapy systems are expected to further drive the growth of this market in the coming years.
Electrotherapy System Market by End User
Based on end user, the global electrotherapy system market is segmented into hospitals, clinics, and rehabilitation centers.
The global electrotherapy system market is mostly dominated by hospitals. The reason for this is the rise in chronic diseases and the demand for non-invasive treatment options. Moreover, the usage of electrotherapy systems has also increased in rehabilitation centers and physiotherapy clinics, which is contributing to the market's growth. Additionally, the market size has increased significantly due to technological progress in electrotherapy systems, including the development portable and wearable devices. These factors are expected to drive the future electrotherapy system market's growth.
The rehabilitation centers segment is expected to increase by 6.06% of revenue CAGR in the forecast years. Electrotherapy is a widely used modality in rehabilitation centers to treat a variety of conditions, such as muscle weakness, pain, and spasticity. It involves the use of electrical stimulation to target specific muscles or nerves, which can help improve muscle strength and function. Additionally, electrotherapy has been shown to be effective in reducing inflammation and promoting tissue healing.
Electrotherapy System Market by Region
Based on the region, the electrotherapy system market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounted for the majority of the market revenue share in 2022. The presence of well-established healthcare infrastructure, and robust research and development capabilities, in this region, are expected to support the global electrotherapy system market in North America. Moreover, the region has many top players who are constantly bringing technological advancements in molecular diagnostics. For instance, in March 2022, Cionic, a medical device startup, announced that the Neural Sleeve has been approved by the US Food and Drug Administration. The Neural Sleeve is the first algorithm-powered bionic garment meant to help people with mobility difficulties due to MS, stroke, cerebral palsy, and other illnesses regain functional movement.
The Asia Pacific electrotherapy system market is projected to show a significant growth of 6.1% CAGR in the forecast years. This is attributed to increasing incidences of chronic back pain in this region and also an increase in the electrotherapy system market in the Asia Pacific. According to the Journal of pain research, China is second in the age-standardized one-year prevalence of lower back pain when compared to 19 Group 20 member nations, excluding the European Union.
Electrotherapy System Market Competitive Landscape
Several companies emphasize development tactics, such as new launches, product approvals, and other elements like patents and events. The market saw acquisition, partnership, and cooperation activities as inorganic development tactics. These initiatives have enabled the expansion of future economic business prospects and increased demand for calcitonin in the global electrotherapy system market.
Some of the prominent companies having the largest revenue share in the global electrotherapy system market are,
Electrotherapy System Market Strategic Developments
Electrotherapy systems are medical devices that utilize electrical energy to provide therapeutic effects for various pain management conditions.
The global electrotherapy system market was valued at US$ 1,628.9 million by 2031.
The global electrotherapy system market has witnessed significant growth in recent years due to the increasing incidence of musculoskeletal injuries and increased preference for electrotherapy in pain management.
The global electrotherapy system market is expected to register a revenue CAGR of 5.26% in the forecast period from 2023 to 2031.
North America region has dominated the global electrotherapy system market.
*Insights on financial performance are subject to the availability of information in the public domain