Pulse Electromagnetic Field Therapy Devices Market
Number of pages: 100 | Report Format: PDF | Published date: March 29, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 422.20 million |
|
Revenue Forecast in 2031 |
US$ 851.04 million |
|
CAGR |
8.1% |
|
Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Device, Application, 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 pulse electromagnetic field therapy devices market was valued at US$ 422.20 million in 2022 and is expected to register a revenue CAGR of 8.1% to reach US$ 851.04 million by 2031.
Pulse Electromagnetic Field Therapy Devices Market Fundamentals
Pulse electromagnetic field (PEMF) therapy devices are medical devices that use electromagnetic fields to stimulate cells and tissues in the body. These devices improve circulation, reduce inflammation, and promote natural healing processes. PEMF therapy devices emit electromagnetic waves at various frequencies and intensities, which are thought to interact with the body's electromagnetic field to produce a range of therapeutic effects. PEMF therapy devices can come in various forms, including mats, pads, and handheld devices. Some devices are designed for home use, while others are intended for use in hospitals or clinical settings. The therapy can be used to treat a range of conditions, including pain, inflammation, and neurological disorders.
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Pulse Electromagnetic Field Therapy Devices Market Dynamics
The rising incidence of chronic diseases such as arthritis, osteoporosis, and fibromyalgia has increased demand for global pulse electromagnetic field therapy devices. These devices offer a non-invasive, drug-free treatment option for managing chronic pain and inflammation. For instance, according to the Centers for Disease Control and Prevention statistics of October 2021, one in four, or approximately 58 million individuals, are diagnosed with arthritis. Pulse electromagnetic field therapy devices have undergone significant technological advancements in recent years, developing more effective and efficient devices. These advancements have also led to the development of portable and compact pulsed electromagnetic field therapy devices, making them more accessible to consumers and thus helping boost market revenue growth. Additionally, consumers have grown awareness about the potential health benefits of pulse electromagnetic field therapy devices. This has increased demand for these devices and led to the global pulse electromagnetic field therapy market.
However, PEMF therapy devices can be expensive, which may limit their accessibility to some consumers. While some lower-cost options are available, these devices may not have the same level of effectiveness as more expensive options. Furthermore, while consumer awareness of PEMF therapy devices is increasing, healthcare providers may not be as familiar with or skeptical of their effectiveness. This could limit the number of healthcare providers willing to recommend these devices to their patients. Additionally, high cost, competition from other therapies, and lack of clinical evidence impede market revenue growth.
Pulse Electromagnetic Field Therapy Devices Market Ecosystem
The global pulse electromagnetic field therapy devices market is analyzed from four perspectives: device, application, end user, and region.
Pulse Electromagnetic Field Therapy Devices Market by Device
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Based on the device, the global pulse electromagnetic field therapy devices market is segmented into low frequency PEMF devices and high frequency PEMF devices.
The low frequency PEMF devices segment dominated the market with the principal revenue share in 2022, attributed to its most popular and widely used market. Low frequency PEMF therapy devices refer to devices that operate at a frequency of less than 100 Hz. These devices are commonly used for pain relief, particularly for chronic conditions such as arthritis, fibromyalgia, and back pain. They are believed to work by stimulating the body's natural healing processes and reducing inflammation. Many low frequency PEMF therapy devices are designed to be portable and easy to use at home or on the go. They may come in mats, pads, or handheld devices and can be used while sitting, lying down, or standing. Low frequency PEMF therapy devices are gaining popularity in sports medicine for their potential to reduce inflammation and promote the healing of sports injuries. Athletes use them and sports teams to speed up recovery times and improve performance. These factors contribute to the revenue growth of the low-frequency PEMF segment.
The high frequency PEMF devices segment is expected to be the fastest-growing segment during the forecast period. High frequency PEMF therapy devices refer to devices that operate at a frequency greater than 100 Hz. High frequency PEMF therapy devices treat various health conditions, including chronic pain, depression, anxiety, and sleep disorders. They are believed to work by improving circulation, stimulating nerve cells, and reducing inflammation. These devices are often more specialized and targeted than low frequency devices. They may be designed to target specific body areas, such as the head or feet, or to deliver a more intense or focused electromagnetic field. These factors contribute to the revenue growth of the high-frequency segment.
Pulse Electromagnetic Field Therapy Devices Market by Application
Based on the application, the global pulse electromagnetic field therapy devices market is segmented into pain management, bone growth, and others.
The pain management segment dominated the market with the largest revenue share in 2022. Pulse electromagnetic field therapy devices for pain management are one of the most common applications of PEMF technology. They treat various acute and chronic pain conditions, including back pain, arthritis, fibromyalgia, and sports injuries. These devices stimulate cells and tissues in the body, reduce inflammation, improve circulation, and promote natural healing processes. Many PEMF therapy devices for pain management are designed to be portable and easy to use at home. They may come in mats, pads, or handheld devices and can be used while sitting, lying down, or standing. PEMF therapy devices for pain management are often used with other approaches, such as physical therapy, massage therapy, and medication. They may provide additional pain relief and help speed up the healing process. These overall factors contribute to the revenue growth of the pain management segment.
The bone growth segment dominated the market with the largest revenue share in 2022. Pulse electromagnetic field therapy devices are designed to promote bone growth and healing. Bone growth PEMF therapy devices are commonly used in orthopedic medicine to promote the healing of bone fractures and in dental medicine to improve the integration of dental implants. Depending on the specific treatment needs, these devices can be implanted directly into the body or used externally. Implanted devices are typically used in more serious bone injury or disease cases, while external devices may be used for less severe cases. Bone growth PEMF therapy devices can be customized for specific applications and patient needs. For example, they may be designed to deliver a certain frequency, intensity, or duration of electromagnetic stimulation based on the type and severity of the bone injury or disease. Using PEMF therapy devices in bone growth applications requires specialized knowledge and training in orthopedic or dental medicine. This is because the devices must be targeted and precise to avoid negative side effects or complications. These overall factors contribute to the segment’s revenue growth.
Pulse Electromagnetic Field Therapy Devices Market by End User
Based on the end user, the global pulse electromagnetic field therapy devices market is segmented into hospitals, home care settings, and others.
The hospitals segment is a key player in the pulse electromagnetic field therapy devices market, with the largest revenue share in 2022. Hospitals are the primary place to get pulse electromagnetic field therapies. Hospitals have access to more advanced PEMF therapy devices that offer higher-intensity magnetic fields and more targeted applications to specific areas of the body, leading to more effective and efficient treatment of conditions. Hospitals have specialized healthcare professionals who are trained in the use of PEMF therapy devices and can provide more precise and targeted treatment. This can lead to better patient outcomes and reduced risk of complications. PEMF therapy devices designed for hospitals may integrate with other medical technologies, such as magnetic resonance imaging (MRI) or ultrasound, to provide more targeted and effective treatment. These overall factors contribute to the revenue growth of the hospital segment.
Pulse Electromagnetic Field Therapy Devices Market by Region
Geographically, the global pulse electromagnetic field therapy devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global pulse electromagnetic field therapy devices market with the largest revenue share in 2022, attributed to an increasing number of patients suffering from osteoporosis and osteoarthritis, the presence of key market players, and the fast adoption of technology. Additionally, companies across the region are continuously working on launching new and innovative products for pulse electromagnetic field therapy which is also helping in the market revenue growth. For instance, in May 2022, Orthofix Medical Inc., a global medical device company specializing in orthopedics and spine care, received pre-market approval from the U.S. Food and Drug Administration (FDA) for its Class III device, the AccelStim bone healing therapy. The AccelStim device offers a nonsurgical solution for treating fresh fractures and nonunions that have not healed. It utilizes Low-Intensity Pulsed Ultrasound (LIPUS) signal to stimulate the body's natural healing process, promoting the healing of fractures. The AccelStim gadget is commonly worn externally in the fracture site for 20 minutes daily. Therapy duration varies and is set individually by the prescribing physician based on the fracture healing process.
Competitive Landscape
The prominent players operating in the global pulse electromagnetic field therapy devices market are:
Strategic Developments in Pulse Electromagnetic Field Therapy Devices Market
The global pulse electromagnetic field therapy devices market was valued at US$ 422.20 million in 2022.
The expected market size of the global pulse electromagnetic field therapy devices market in 2031 is US$ 851.04 million.
Some prominent players operating in the global pulse electromagnetic field therapy devices market are Swiss Bionic Solutions Holding GmbH, NiuDeSai, EarthPulse, Bedfont Scientific Ltd., and Magnus Magnetica.
The CAGR of the pulse electromagnetic field therapy devices market during the forecast period from 2023 to 2031 will be 8.1%.
The high cost, competition from other therapies, and lack of clinical are factors restricting the global market revenue growth to full potential.
*Insights on financial performance are subject to the availability of information in the public domain