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Electrical Stimulation Devices Market 2024 - Key Players, Industry Demand, Future Trends, Growth Rate And Outlook By 2033
Electrical Stimulation Devices Market
Electrical Stimulation Devices Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $11.56 billion In 2028 At A CAGR Of 10.3%.
The electrical stimulation devices market size has grown strongly in recent years. It will grow from $7.12 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to sports and fitness applications, shift towards non-invasive therapies, clinical validation, rising chronic health conditions, regulatory support..
The electrical stimulation devices market size is expected to see rapid growth in the next few years. It will grow to $11.56 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to aging population trends, rising incidence of chronic health conditions, expanding clinical validation, supportive regulatory environment, mental health emphasis, increased focus on preventive healthcare.. Major trends in the forecast period include regulatory support and reimbursement policies, rising chronic health conditions, clinical research and evidence, shift towards non-invasive therapies, increased sports and fitness applications..
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Electrical Stimulation Devices Market Major Segments
The electrical stimulation devices market covered in this report is segmented -
1) By Device Type: Deep Brain Stimulation Devices, Neuromuscular Electrical Stimulation Devices, Sacral Nerve Stimulation Devices, Spinal Cord Stimulation Devices, Other Devices
2) By Application: Pain Management, Neurological & Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Key Driver - Rising Prevalence Of Muscle Disorders Fuels Growth In The Electrical Stimulation Devices Market
The increasing prevalence of muscle disorders is expected to propel the growth of the electrical stimulation devices market forward. Muscular disorders are a set of inherited genetic illnesses that produce muscle weakness over time. These muscle disorders may cause weakness or paralysis in the presence of an intact nervous system. Electrical stimulation devices help to reduce muscle weakness, producing a controlled and comfortable muscular contraction using skin electrodes and a portable stimulator. For instance, according to The State of Musculoskeletal Health 2021 report, published by Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, there are over 20 million people in the UK suffering from musculoskeletal disorders such as arthritis. One in three people, with half of those living in pain every day. Therefore, the increasing prevalence of muscle disorders is subsequently propelling the electrical stimulation devices market.
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Prominent Trend - Technological Advancements Transforming The Landscape Of Electrical Stimulation Devices In Healthcare
Technological advancements are a key trend gaining popularity in the electrical stimulation market. Major market players are introducing technologically advanced and FDA-approved electrical stimulation devices for better treatment of patients. For instance, in August 2022, Abbott Laboratories, a US-based medical device company operating in electrical stimulation devices, announced that US FDA had approved Proclaim Plus, a new technologically advanced spinal cord stimulation device based on FlexBurst360 therapy. It is a next generation of BurstDR stimulation therapy that provides broader myotomal coverage at lower amplitudes than single-area stimulation individualized pain relief for various painful disorders and expands the range of available therapies.
Electrical Stimulation Devices Market Players
Major companies operating in the electrical stimulation devices market report are Boston Scientific Corporation, Abbott Laboratories, DJO Global Inc., BTL Corporate Inc., Nevro Corp., NeuroMetrix Inc., Zynex Inc., BioMedical Life Systems, RS Medical, Biotronik Inc., CU Medical System Inc., Beijing Pins Medical Co.Ltd., MicroPort Scientific Corporation, Koninklijke Philips N.V, Bioinduction Ltd., Soterix Medical Inc., Medtronic plc, MYOLYN, Cogentix Medical Inc., Cyberonics Inc., Colfax Corporation, Stimwave Technologies, EndoStim Inc., SPR Therapeutics, Nuvectra Corporation, ElectroCore Inc., Axonics Modulation Technologies Inc., Inspire Medical Systems Inc., Second Sight Medical Products Inc., Cochlear Limited .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the electrical stimulation devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the electrical stimulation devices market report during the forecast period. The regions covered in the electrical stimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electrical Stimulation Devices Market Report Structure
3. Electrical Stimulation Devices Market Trends And Strategies
4. Electrical Stimulation Devices Market - Macro Economic Scenario
5. Electrical Stimulation Devices Market Size And Growth
…..
27. Electrical Stimulation Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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