Pain management will remain key application area for electrical stimulation devices, says Fact.MR
“The increasing burden of various diseases due to unhealthy lifestyle choices, the increasing prevalence of sports injuries, the increasing use of peripheral nerve stimulators and electronic pulse stimulators, and the increase in the elderly population affected by neurological diseases are factors driving the growth of the market”,
South Korea, Seoul, Sept. 05, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global electrical stimulation device market is expected to reach a valuation of $11 billion. by 2027, expanding at a high CAGR of 8% from 2022 to 2027.
Electrical stimulation devices are showing potential as a rehabilitation technique in physiotherapy worldwide, especially gaining ground over other established technologies. Electrical impulses are used by electrical stimulation devices to electrically stimulate and contract muscles. The range of these devices is attracting considerable interest from patients, including those requiring physiotherapy to manage chronic pain and athletes to achieve specific training goals. The growth of the market is mainly attributed to technological developments such as the creation of tools capable of electrically stimulating the nervous system to restore vision and regain post-paralysis muscle movement.
Sales of electrical stimulation devices are expected to increase as more people use advanced stimulation techniques to activate injured muscles or manipulate underlying nerves to reduce pain. These portable and affordable devices help speed up the healing process and improve blood flow to the injured area. One of the major problems that healthcare systems are tackling is chronic pain. The demand for electrical stimulation devices is primarily driven by the increasing prevalence of chronic pain and the growing use of products for pain management due to their significant therapeutic benefits.
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The increasing prevalence of spinal injuries caused by accidents, violence or falls is one of the major drivers driving the market for electrical stimulation devices. This trend is expected to increase the demand for spine surgeries and drive the market expansion at a rapid pace over the coming years.
Key Jakeaways of Market Study
The global electrical stimulation device market is currently valued at US$7.5 billion.
The market in Canada is expected to grow at a CAGR of 6.5% during the forecast period (2022-2027).
Sales of deep brain stimulation devices are expected to grow at a CAGR of 8.5% from 2022 to 2027.
The market in Germany is expected to grow at a CAGR of 6.7% through 2027.
Market players are focused on obtaining rapid authorization for the marketing and distribution of their products. Leading companies are focused on bringing advanced products to market to meet large unmet medical demands. Market players are focusing their efforts and resources on R&D to meet the varied needs of patients.
In 2021, Abbott announced NeuroSphere myPath, a digital health app to monitor and report pain reduction and overall well-being in patients undergoing spinal cord stimulation.
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Electrical Stimulation Devices Industry Research Segmentation
Spinal cord stimulation (SCS) devices
Deep Brain Stimulation (DBS) Devices
Vagus Nerve Stimulation (VNS) Devices
Sacral Nerve Stimulation (SNS) Devices
Management of neurological and movement disorders
Management of musculoskeletal disorders
GIT metabolism and management
Per end user:
Middle East and Africa
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Fact.MR, in its new offering, presents an unbiased analysis of the global Electrical Stimulation Devices Market, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2027.
The study discloses essential market insights on the basis of device (spinal cord stimulation (SCS) devices, deep brain stimulation (DBS) devices, vagus nerve stimulation (VNS) devices, Sacral Nerve Stimulation (SNS), Others), Application (Pain Management, Neurological and Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism and Digestive System Management, Others) and End User (Hospitals , ambulatory surgery centers, others), in five major regions (North America, Europe, Asia-Pacific, Latin America, and MEA).
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