Electrotherapy Market Overview:
The rise in the acceptance of physiotherapy for treating various ailments has also bolstered the demand for electrotherapy globally. Market reports linked to the medical device industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to expand with a 4.2% CAGR while achieving revenues totaling US$ 1119.1 million by the end of the forecast period.
The upsurge in the number of cases related to soft tissue injuries and muscles impairments are increasing the demand for Electrotherapy Market. The electrotherapy market is expected to gain substantial traction due to the increased inclination of customers towards drug-free methods of treatment. Furthermore, the awareness of the benefits of electrotherapy is anticipated to provide more avenues for growth in the upcoming forecast period.
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Competitive Analysis:
The plan formulation process in the market has become significantly easier in which deviations are well accounted for; this approach increases the overall success of these plans in the market. The leadership trends in the market are reinforcing the level of growth that can be achieved in the present market scenario. The alterations seen in terms of strategy execution and creation are altering the development pace of the market. The evolution patterns are revised in tandem to the customer likings to realize the greatest growth, and in the long run, viability. The framework for growth plans also has stimulated the market for potential new entrants.
The market contenders are making considerable adjustments to minimize the incidence of competitive disadvantage. The market is also well equipped to meet the challenges and keep up with the dynamic growth trends effectively. The noteworthy competitors in the electrotherapy market are Eme srl (Italy), BTL (Czech Republic), EMS Physio Ltd. (UK), Medtronic (Republic of Ireland), Enraf-Nonius B.V.(Netherlands), Pure Care (US), gbo Medizintechnik AG (Germany), Phoenix Healthcare (UK), Omron Healthcare, Inc. (US), Walgreen Co. (US), STYMCO Technologies, LLC (US) and others
Segmental Analysis:
The electrotherapy market has been segmented on the basis of type, devices, application, and region. On the basis of type, the market is segmented into Interferential, Extracorporeal Shock Wave Therapy, Magnetic Field Therapy (Pulsed Electro-Magnetic Field Energy, Constant Energy Magnets), Transcutaneous Electrical Nerve Stimulation (TENS) Therapy (Intense TENS, Conventional TENS, Acupuncture-like TENS (AL-TENS)), Ultrasound Therapy, and others. The segmentation on the basis of devices comprises of Electronic Muscle Stimulator (EMS), High Voltage Pulsed Galvanic Stimulator (HVPGS), Transcutaneous Electrical Neural Stimulator (TENS), Interferential Stimulator (IF), Microcurrent Stimulator (MC) or Microcurrent Electrical Neuromuscular Stimulator (MENS), among others.
The segmentation of the electrotherapy market on application basis comprises of orthopedics, cardiology, urology, pain management (chronic fatigue, chronic pain, migraine headaches, diabetic nerve pain, wound healing, stimulating bone growth), Chronic and Acute Edema among others. The regions covered in the market are Europe, North America, Asia Pacific, Africa, and the Middle East.
Detailed Regional Analysis:
The regional analysis of the electrotherapy market comprises of regions such as North America, Europe, Asia Pacific, Africa, and the Middle East. The North American region is the major market for electrotherapy. In the North America region, the US controls a major market share while the European market is the next major region in the market.
The growth rate is relatively higher in west European countries. Conversely, the Asia Pacific region is a rapidly growing market and is anticipated to control the market by the year 2023. The Middle East and African region are expected to have restrained growth in the market owing to a low-level awareness of the devices and treatment.
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Industry Updates:
Jan 2018 Omron lately introduced its first wireless at-home drug-free pain management device, Avail, which is an FDA-cleared TENS device designed to provide symptomatic relief and management of acute and chronic pain. Avail is fully wireless and uses two contoured pads that permits users to treat multiple pain sites simultaneously.
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