MarketResearchNest.com adds “Global Electrical Stimulation Devices Market 2017-2021” new report to its research database. The report spread across 77 pages with table and figures in it.
The Research analysts forecast the global Electrical Stimulation Devices market to grow at a CAGR of 5.83% during the period 2017-2021. The ESD uses electrotherapy technology that causes muscle contraction with the help of electrical impulses. The device is used to treat muscle weakening when affected by various neurological disorders and injuries. It consists of lead wires and electrodes placed on the skin over the target area. Its function is to activate electrical impulse and transmit a signal to the electrode due to which depolarization of sensory nerves takes place, resulting in pain reduction and improvement of muscular strength.
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Technavio recognizes the following companies as the key players in the global electrical stimulation devices market: Abbott (St. Jude Medical), Boston Scientific, and Medtronic.
Other Prominent Vendors in the market are: BTL, Cyberonics, DJO Global, ElecteroMedics, NeuroMetrix, Uroplasty, and Zynex.
“The latest trend gaining momentum in the market is Increasing research studies on electrical stimulation. Various scientific studies have recognized the effectiveness of ESDs such as regaining and increasing muscle strength and providing pain relief. Over the years there have been dedicated research involving the use of electric current to stimulate the paralyzed muscle that is damaged or disabled. These researches aim to provide greater mobility to the individual being treated for rehabilitation condition or with any neurological disorders. The studies indicate that ESDs restore motor functions. NMES devices have shown its credibility post knee replacement as it prevents decreasing in the muscle strength.”
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According to the report, one of the major drivers for this market is Increasing incidence of spinal injuries. The rising incidence of spinal injuries due to road traffic, falls, crashes, and violence in various parts of the world have a positive impact on the sales of ESDs in the global market. Spinal injuries result in temporary or permanent loss of sensation of autonomic nervous system and muscle function. The individual suffers from enormous pain in their muscle at such condition. However, in adverse conditions, surgery is recommended by the physicians for which postoperative pain is equally unbearable and depressing for individuals. The ESD is used for both pre- and post-operative conditions.
Further, the report states that one of the major factors hindering the growth of this market is Intense competition coupled with decreasing profit margin. The global ESDs market is characterized by the presence of several players manufacturing the device, thus leading to intense competition among the players in setting the price. As a result, there is a lower profit margin for ESD. The competition exists based on the design of the device and its manufacturing cost. The local or regional manufacturers offer ESD at a lower cost compared with the global and larger players, which provide a great opportunity for various end-users such as hospitals, ASCs, clinics, and research institutes to choose from the wide variety of products.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Mr. Jeet Jain