Global Electrotherapy System Market Size By Components (Interferential Current Therapy, Micro-current Therapy), By Application, By End-User, By Geographic Scope And Forecast

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Electrotherapy System Market Size And Forecast

Electrotherapy System Market size was valued at USD 1125.43 Billion in 2024 and is projected to reach USD 1587.04 Billion by 2031, growing at a CAGR of 4.39% during the forecast period 2024-2031.

The Electrotherapy System Market experiencing significant growth owing to the increasing number of sports injuries, and the rise in the incidence related to the spine and lower back. The technical improvements in electrotherapy systems, the rise in obesity, the number of sports injuries, and the rising cost of healthcare are the main drivers fueling the growth of the worldwide Electrotherapy System Market. However, the lack of awareness about the use of electrotherapy systems in developing nations, the abundance of alternatives, and market saturation in industrialized nations are impeding the expansion of this industry.

Global Electrotherapy System Market Drivers

The market drivers for the Electrotherapy System Market can be influenced by various factors. These may include:

Growing Globally Incidence of Chronic Diseases: Non-invasive treatment options such as electrotherapy devices are in high demand due to the growth in conditions like musculoskeletal injuries, neurological diseases, and arthritis.

Growing Geriatric Population: As the world's population ages, age-related health problems are more common, which raises the need for electrotherapy equipment among the elderly for pain relief and rehabilitation.

Technological Developments: The market is growing as a result of ongoing developments in electrotherapy technology, including the creation of wearable and portable devices, enhanced treatment modalities, and integration with other medical technologies. An increase in sports-related injuries is being caused by people participating in fitness and sports at a larger rate. This has led to a demand for effective and efficient rehabilitation treatments, such as electrotherapy devices.

Awareness and Acceptance: The market is expanding as a result of patients' and healthcare professionals' growing knowledge of the advantages of electrotherapy for tissue healing, pain management, and rehabilitation.

Preference for Non-Invasive Treatments: Due to their fewer side effects and faster recovery times, non-invasive treatment choices are becoming more and more popular. As a result, electrotherapy systems are becoming more and more popular than traditional procedures.

Government Support and Initiatives: The expansion of the market is also being aided by government programmes that aim to better access cutting-edge medical technologies and to improve the infrastructure of healthcare.

Growing Healthcare Expenditure: The market is expanding as a result of expanding healthcare costs worldwide as well as certain regions' reimbursement programmes for electrotherapy treatments.

Expanding Applications: Electrotherapy devices are becoming more widely used in areas other than traditional pain management, such as muscle rehabilitation, wound healing, and cosmetic procedures. This is helping to increase their market share.

Emerging Markets: There are a lot of potential for market participants to increase their footprint in these areas due to the expanding healthcare infrastructure and rising use of cutting-edge medical technologies in emerging economies.

Global Electrotherapy System Market Restraints

Several factors can act as restraints or challenges for the Electrotherapy System Market. These may include:

Expensive Devices: Patients who must pay for their own treatments or live in areas with tight healthcare budgets may find it difficult to use electrotherapy devices due to their high cost.

Restricted Reimbursement rules: In certain areas, reimbursement rules might not fully cover electrotherapy treatments, which would lower patient affordability and impede the expansion of the industry.

Tough Regulatory certification Procedures: Tough regulatory standards for medical device certification can cause delays in the introduction of new products and raise the price and duration of introducing new electrotherapy systems to the market.

Absence of Skilled Professionals: Specialised training and experience are necessary for the effective usage of electrotherapy systems. The limited availability of trained healthcare workers who can operate these devices may hinder their wider adoption.

Safety Concerns: Although electrotherapy treatments are generally safe when used appropriately, there may be worries about possible side effects or unpleasant responses. These worries can make patients less likely to accept their treatment and discourage doctors from recommending it.

Alternative Treatment Options: The market for electrotherapy may not grow as quickly as it could due to competition from non-invasive therapies, medications, and surgery.

Limited Awareness: Underutilization and slower market growth may arise from patients' and healthcare professionals' ignorance of the advantages and uses of electrotherapy devices.

Infrastructure Restrictions: The adoption and use of electrotherapy devices may be hampered by inadequate healthcare infrastructure in some areas, which may include restricted access to power or the internet.

Legal and Ethical Issues: The application of electrotherapy for specific ailments or populations may raise ethical questions. Its use may also be subject to legal restrictions, which may have an impact on market expansion.

Impact of COVID-19 Pandemic: The COVID-19 pandemic has caused widespread disruptions to healthcare systems, including fewer patient visits, postponed elective treatments, and problems with the supply chain. These factors have affected the uptake and sales of electrotherapy devices.

Global Electrotherapy System Market Segmentation Analysis

The Global Electrotherapy System Market is Segmented on the basis of Components, Application, End-User, And Geography.

Electrotherapy System Market, By Components

Interferential Current Therapy (IC)
Micro-current Therapy
Pulsed Short Wave Diathermy (PSWD)
Transcutaneous Electrical Nerve Stimulation (TENS)
Transcutaneous Spinal Electro analgesia (TSE)
Others

Based on Components, the market is bifurcated into Interferential Current Therapy (IC), Micro-current Therapy, Pulsed Short Wave Diathermy (PSWD), Transcutaneous Electrical Nerve Stimulation (TENS), Transcutaneous Spinal Electro analgesia (TSE), and Others. Interferential Current Therapy (IC) accounted for the largest market share in 2019. Interferential Current Therapy (IC) is one of the electrotherapy treatments in which electric currents are applied to stimulate tissue. Such application of currents provides relief from pain and other health issues. It also helps to reduce swellings in the superficial tissues (i.e., the skin).

Electrotherapy System Market, By Application

Neuromuscular Dysfunction
Pain Management
Sports Injury Treatment
Tissue Repair
Urine and Fecal Incontinence
Others

Based on Application, the market is bifurcated into Neuromuscular Dysfunction, Pain Management, Sports Injury Treatment, Tissue Repair, Urine and Fecal Incontinence, and Others. Pain Management accounted for the largest market share in 2019. The growing geriatric population and rising awareness about the adverse effects of pain medications are the leading elements that have boosted market growth. Furthermore, the high prevalence of musculoskeletal disorders, such as arthritis, osteoarthritis, orthopedic degenerative diseases, and rheumatoid arthritis has triggered the growth of the Electrotherapy System Market.

Electrotherapy System Market, By End-User

Clinics
Hospitals
Long-term Care Centers
Rehabilitation Centers
Others

Based on End-User, the market is bifurcated into Hospitals, Clinics, Rehabilitation Centers, Long-term Care Centers, and Others. Hospitals accounted for the largest market share in 2019. The rising number of sports injuries, increasing cases of neuromuscular disease, and the growing geriatric population suffering from various chronic diseases are the key factors that have boosted the adoption of electrotherapy systems in various hospitals.

Electrotherapy System Market, By Geography

North America
Europe
Asia Pacific
Rest of the world
On the basis of Geography, the Global Electrotherapy System Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is expected to hold the largest market share of the Electrotherapy System Market over the forecast period followed by Europe and Asia Pacific. In the North American region, the US is expected to hold the largest market share followed by Canada which again is going to monitor the excellent growth of the Electrotherapy System Market. Increasing incidences of sports injuries, mainly due to the increasing participation in sports in different North American countries such as the U.S. and Canada is a leading element that has boosted the growth of the North American Electrotherapy System Market.

Key Players

The "Global Electrotherapy System Market" study report will provide valuable insight with an emphasis on the global market including some of the major players such as Zynex Inc., NeuroMetrix Inc., Nevro Corp., Boston Scientific Corporation, Medtronic Plc., Uroplasty Inc., Cyberonics Inc., St. Jude Medical Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

In February 2021, the newest addition to its recovery product range, the KT Recovery+ Wave, was unveiled by KT Tape LLC (US) (KT Wave).
In September 2020, the Quell application for Apple Watch, the first wristwatch app for an over-the-counter pain relief device, was released by NeuroMetrix Inc.
In January 2019, the Verse Primary Cell (PC) and VerciseGevia Deep Brain Stimulation (DBS) devices were introduced by Boston Scientific Corporation. When treating Parkinson's disease, these systems should aid medical professionals in controlling the location, range, shape, and direction.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Electrotherapy System Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter's Five Forces
The image provided would further help to get information about Porter's five forces framework providing a blueprint for understanding the behavior of competitors and a player's strategic positioning in the respective industry. Porter's five forces model can be used to assess the competitive landscape in the Global Electrotherapy System Market, gauge the attractiveness of a certain sector, and assess investment possibilities

Product Code: 29696

1 INTRODUCTION

1.1 MARKET DEFINITION
1.2 MARKET SEGMENTATION
1.3 RESEARCH TIMELINES
1.4 ASSUMPTIONS
1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

2.1 DATA MINING
2.2 SECONDARY RESEARCH
2.3 PRIMARY RESEARCH
2.4 SUBJECT MATTER EXPERT ADVICE
2.5 QUALITY CHECK
2.6 FINAL REVIEW
2.7 DATA TRIANGULATION
2.8 BOTTOM-UP APPROACH
2.9 TOP DOWN APPROACH
2.1 RESEARCH FLOW
2.11 DATA SOURCES

3 EXECUTIVE SUMMARY

3.1 MARKET OVERVIEW
3.2 GLOBAL ELECTROTHERAPY SYSTEM MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
3.3 GLOBAL ELECTROTHERAPY SYSTEM MARKET, BY END-USER (USD MILLION)
3.4 GLOBAL ELECTROTHERAPY SYSTEM MARKET, BY COMPONENTS (USD MILLION)
3.5 GLOBAL ELECTROTHERAPY SYSTEM MARKET, BY APPLICATION (USD MILLION)
3.6 FUTURE MARKET OPPORTUNITIES
3.7 GLOBAL MARKET SPLIT
3.8 MARKET DRIVERS

4 MARKET OUTLOOK

4.1 GLOBAL ELECTROTHERAPY SYSTEM MARKET OUTLOOK
4.2 DRIVERS
- 4.2.1 INCREASING INCIDENCE OF SPINAL INJURIES
- 4.2.2 RISE IN ELDERLY POPULATION
4.3 RESTRAINTS
- 4.3.1 STRINGENT REGULATORY COMPLIANCE FOR ELECTROTHERAPY PRODUCTS
- 4.3.2 LACK OF AWARENESS IN THE UNDERDEVELOPED NATIONS
4.4 OPPORTUNITIES
- 4.4.1 ADVANCEMENT IN THE ELECTROTHERAPY SYSTEM
- 4.4.2 NEW PRODUCT LAUNCHES
4.5 IMPACT OF COVID - 19 ON ELECTROTHERAPY SYSTEM MARKET

5 MARKET, BY END-USER

5.1 OVERVIEW
5.2 HOSPITALS
5.3 CLINICS
5.4 REHABILITATION CENTERS
5.5 LONG-TERM CARE CENTERS
5.6 OTHERS

6 MARKET, BY COMPONENTS

6.1 OVERVIEW
6.2 INTERFERENTIAL CURRENT THERAPY (IC)
6.3 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATION (TENS)
6.4 MICRO-CURRENT THERAPY
6.5 PULSED SHORT WAVE DIATHERMY (PSWD)
6.6 TRANSCUTANEOUS SPINAL ELECTRO ANALGESIA (TSE)
6.7 OTHERS

7 MARKET, BY APPLICATION

7.1 OVERVIEW
7.2 SPORTS INJURY TREATMENT
7.3 PAIN MANAGEMENT
7.4 NEUROMUSCULAR DYSFUNCTION
7.5 TISSUE REPAIR
7.6 URINE AND FECAL INCONTINENCE
7.7 OTHERS

8 MARKET, BY GEOGRAPHY

8.1 OVERVIEW
8.2 NORTH AMERICA
- 8.2.1 UNITED STATES
- 8.2.2 CANADA
- 8.2.3 MEXICO
8.3 EUROPE
- 8.3.1 GERMANY
- 8.3.2 FRANCE
- 8.3.3 U.K.
- 8.3.4 REST OF EUROPE
8.4 ASIA PACIFIC
- 8.4.1 CHINA
- 8.4.2 INDIA
- 8.4.3 JAPAN
- 8.4.4 REST OF APAC
8.5 REST OF WORLD
- 8.5.1 MIDDLE EAST AND AFRICA
- 8.5.2 LATIN AMERICA

9 COMPETITIVE LANDSCAPE

9.1 OVERVIEW
9.2 COMPETITIVE SCENARIO
9.3 COMPANY MARKET RANKING ANALYSIS

10 COMPANY PROFILES

10.1 ST. JUDE MEDICAL INC. (ABBOTT)
- 10.1.3 SEGMENT BREAKDOWN
- 10.1.5 KEY DEVELOPMENTS
- 10.1.6 SWOT ANALYSIS
10.2 MEDTRONIC PLC.
- 10.2.1 COMPANY OVERVIEW
- 10.2.2 COMPANY INSIGHTS
- 10.2.3 SEGMENT BREAKDOWN
- 10.2.4 PRODUCT BENCHMARKING
- 10.2.5 KEY DEVELOPMENTS
- 10.2.6 SWOT ANALYSIS
10.3 BOSTON SCIENTIFIC CORPORATION
- 10.3.1 COMPANY OVERVIEW
- 10.3.2 COMPANY INSIGHTS
- 10.3.3 SEGMENT BREAKDOWN
- 10.3.4 PRODUCT BENCHMARKING
- 10.3.5 KEY DEVELOPMENTS
- 10.3.6 SWOT ANALYSIS
10.4 NEUROMETRIX INC.
- 10.4.1 COMPANY OVERVIEW
- 10.4.2 COMPANY INSIGHTS
- 10.4.3 PRODUCT BENCHMARKING
- 10.4.4 KEY DEVELOPMENTS
- 10.4.5 SWOT ANALYSIS
10.5 DJO GLOBAL INC. (COLFAX CORPORATION)
- 10.5.1 COMPANY OVERVIEW
- 10.5.2 COMPANY INSIGHTS
- 10.5.3 SEGMENT BREAKDOWN
- 10.5.4 PRODUCT BENCHMARKING
- 10.5.5 KEY DEVELOPMENTS
- 10.5.6 SWOT ANALYSIS
10.6 ZYNEX INC.
- 10.6.1 COMPANY OVERVIEW
- 10.6.2 COMPANY INSIGHTS
- 10.6.3 SEGMENT BREAKDOWN
- 10.6.4 PRODUCT BENCHMARKING
10.7 NEVRO CORP.
- 10.7.1 COMPANY OVERVIEW
- 10.7.2 COMPANY INSIGHTS
- 10.7.3 SEGMENT BREAKDOWN
- 10.7.4 PRODUCT BENCHMARKING
- 10.7.5 KEY DEVELOPMENTS
10.8 UROPLASTY INC.
- 10.8.1 COMPANY OVERVIEW
- 10.8.2 COMPANY INSIGHTS
- 10.8.3 PRODUCT BENCHMARKING
10.9 CYBERONICS INC.
- 10.9.1 COMPANY OVERVIEW
- 10.9.2 COMPANY INSIGHTS
- 10.9.3 PRODUCT BENCHMARKING
10.10 BTL INDUSTRIES INC.
- 10.10.1 COMPANY OVERVIEW
- 10.10.2 COMPANY INSIGHTS
- 10.10.3 PRODUCT BENCHMARKING