Increasing prevalence of obesity, growing popularity of physiotherapy, and rising number of sports injuries are some key factors expected to drive market growth
According to Emergen Research, the global electrotherapy market size was USD 950 million in 2020 and is expected to reach USD 1,290.1 million in 2028 and register a revenue CAGR of 3.9% during the forecast period, 2021-2028.
Electrotherapy is a physical therapeutic treatment that helps to reduce pain, relaxes muscle spasms, accelerates healing of musculoskeletal injuries, and repair tissues, thus leading to better physical functioning of a body. In this therapy, electric currents are used to activate muscles and nerves through the skin. In physiotherapy, electrotherapy is regarded as a latest generation of pain management technologies to alleviate pain. TENS (Transcutaneous Electrical Nerve Stimulation) and electrical muscle stimulation are popular electrotherapy treatment. Increasing awareness regarding the benefits of electrotherapy treatment is a major factor expected to drive market revenue growth during the forecast period. Electrotherapy, which is now accessible in portable equipment, can be utilized by patients at home or in clinic to provide a therapeutic alternative to typical oral pain drugs. This factor makes electrotherapy one of the most popular and powerful physical therapy modalities in the market.
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In addition, increasing healthcare awareness among individuals, rising number of patients suffering from chronic pain due to obesity or specific diseases and growing popularity of physical therapy are some major factors expected to positively impact revenue growth of the market. However, availability of number of substitutes, and lack of awareness on how to use electrotherapy devices are some factors expected to restrain market over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Transcutaneous Electrical Nerve Stimulation (TENS) Segment Revenue to Expand at a Rapid CAGR:
Transcutaneous Electrical Nerve Stimulation (TENS) segment is expected to register a rapid revenue CAGR over the forecast period attributed to large scale use of this treatment in labor pain, period pain, joint pain, postoperative pain, neck and back pain. This treatment helps to minimize intake of pain medications which can be addictive or have negative side effects.
Hospital Segment to Register Significant Revenue Growth:
Hospital segment is expected to register significant revenue growth over the forecast period due to rising health care organizations and government initiatives to develop healthcare infrastructure globally (especially after Covid 19 pandemic), and increasing number of patients suffering from chronic pain and spinal injuries due to unhealthy life styles.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to advanced healthcare infrastructure, rapid adoption of electrotherapy units especially in sports industry, and increasing number of geriatric population. Further, presence of electrotherapy manufacturing companies and technological advancements in the region are some other factors expected to contribute to market growth in the region.
Major Companies in the Market Include:
- Medtronic Plc.
- AliMed, Inc.
- Jude Medical Inc.
- Cogentix Medical, Inc.
- Zynex Medical
- NeuroMetrix Inc.
- DJO Global Inc.
- Cyberonics Inc.
- Nevro Corp.
- Boston Scientific Corp.
For the purpose of this report, Emergen Research has segmented the global electrotherapy market based on treatment type, application, end-use, and region:
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Treatment Type Outlook (Revenue, USD Million; 2018–2028)
- Transcutaneous Spinal Electro analgesia (TSE)
- Interferential Current Therapy (IC)
- Pulsed Short Wave Diathermy (PSWD)
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Spinal Cord Stimulation (SCS)
- Electro-Acupuncture (EA)
- Percutaneous Electrical Nerve Stimulation (PENS)
Application Outlook (Revenue, USD Million; 2018–2028)
- Sports Injury
- Neuromuscular Dysfunction
- Tissue Repair
- Urine and Fecal Incontinence
- Pain Management
- Acute and Chronic Edema
End-Use Outlook (Revenue, USD Million; 2018–2028)
- Rehabilitation Centers
- Long-term Care Centers
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Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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