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Muscle Stimulator Market Generate High Demand Represent Constant by 2023 | Top Key Players | Axiobionics, Zynex, NeuroMetrix, Inc., Omron Corporation, Tone-A-Matic and Others
Muscle Stimulator Market
Global Muscle Stimulator Market - Key Players
Key players profiled in the report are
DJO Global, Inc.
Mettler Electronics Corp.
Axiobionics
Zynex
NeuroMetrix, Inc.
OMRON Corporation
Tone-A-Matic
Global Muscle Stimulator Market - Segments
The Global Muscle Stimulator Market is segmented on the basis of products. Based on the products, the market has been segmented as transcutaneous electrical nerve stimulator, burst mode alternating current, neuromuscular electric stimulation, and interferential current. Based on the application, the market has been segmented as pain management, neurological and movement disorder management and musculoskeletal disorder management.
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Global Muscle Stimulator Market – Overview
The Global Muscle Stimulator Market is growing at an average rate and is expected show the similar trend during forecast period. The Market for Muscle Stimulator is expected to reach $ 768.3 million by the end of 2023, this market is projected to growing at a CAGR of ~ 6.1 % during 2017-2023.
Market fragmentation and falling profit margin are significant threats to the market. The rise of low-cost manufacturing economies such as China are challenging the high-tech segment. The muscle stimulators market credibility is being challenged by the rise of spurious low-quality products. There has been cases of burns and skin irritation due to improper use of these low-quality muscle stimulators.
The Muscle Stimulator Market is also becoming more customer oriented and there is increasing demand for personalization and customization which has created the demand for smart muscle stimulators. The muscle stimulators today are a far cry from what they use to be. The latest hi-tech muscle stimulators use the advanced software’s which can set the device into a predefined cycle with suitable shifts. The latest muscle stimulators have started getting synchronized with mobiles. Mobile apps will eventually contain all the data in one single point. Connected healthcare muscle stimulators seems to be the future due to their cost reducing effect and the ability to converge data at a single point for analysis.
Global Muscle Stimulator Market – SWOT Analysis
Strength:
High capacity and capability of manufacturer
Growing product development such as portability
Weakness:
Poor legal framework
Poor and unorganized manufacturing
Lack of education and low number of Institutes
Opportunities:
Growing demand for non-invasive therapies
Growing acceptance
Threats:
Rising Competition
Market Fragmentation
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Global Muscle Stimulator Market - Regional Analysis
US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. Europe is the second largest market due to large disposable income and rising awareness. Asia pacific region will be the fastest region because of large unmet needs which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa are expected to be a laggard due to poor economic and political conditions.
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