Electrotherapy Market to witness astonishing growth with Key Players | Medtronic, AliMed, Inc., Abbott., Cogentix Medical., Zynex Medical, NeuroMetrix, Inc.
Global Electrotherapy Market is set to witness a steady CAGR of 4.00% in the forecasted period of 2019-2026. This rise in the market can be attributed to the increasing usage of electrotherapy by physiotherapist and sports person and growing prevalence of chronic conditions developments in the industry.
Due to high demand and the value of market research for the success of different sectors, Electrotherapy market report has been prepared by covering many work areas. This global market report is generated based on the market type, size of the organization, availability on-premises and the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Electrotherapy report covers strategies that mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market.
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Market Definition: Global Electrotherapy Market
Electrotherapy is a therapy which uses electric energy in the medical treatment. There are different use of electrotherapy such as pain management, cardiology, tissue repair, urine and fecal incontinence. Most athletic trainers and therapists use electrotherapy system in the management of athletic injuries. Transcutaneous spinal electro analgesia, pulsed short wave diathermy, spinal cord stimulation, micro- current therapy, percutaneous electrical nerve stimulation etc. are some of the common electrotherapy treatments.
• Technology advancement and innovation in electrotherapy will drive the market growth
• Rising competitiveness and new product launches is also driving the market.
• Increasing cases of spinal injuries among population will propel the market
• Growing prevalence of chronic conditions will also act as driver for this market
• Lack of awareness about the product in developing countries is acting as restraints for the market.
• Large availability of substitute product is also hampering the market growth.
Segmentation: Global Electrotherapy Market
• Micro-Current Therapy
• 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)
• Urine and Fecal Incontinence
• Neuromuscular Dysfunction
• Sports Injury Treatment
• Pain Management
• Tissue Repair
• Acute and Chronic Edema
By End user
• Rehabilitation Centers
• Long-Term Care Centres
• North America
• South America
o Rest of South America
o United Kingdom
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Middle East and Africa
o South Africa
o Saudi Arabia
o United Arab Emirates
o Rest of Middle East and Africa
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Key Developments in the Market:
• In March 2019, Innovative Neurological Devices announced that they have received approval from FDA for Cervella Cranial Electrotherapy Stimulator which is specially designed for the treatment of insomnia, depression and anxiety. It gives electrical current to the patient’s brain. The main aim of the launch is to provide patient device which help them to treat this situation easily and provide better outcome.
• In November 2016, EMS PHYSIO announced the launch of their new Electrophysiocal Forum which is special designed so that they can provide platform to the people where they can discuss about the usage of electro physical modalities in therapy. This platform will have different researchers, experts, educator and students.
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Competitive Analysis: Global Electrotherapy Market
Global electrotherapy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of electrotherapy market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Electrotherapy Market
Few of the major market competitors currently working in the global electrotherapy market are Medtronic, AliMed, Inc., Abbott., Cogentix Medical., Zynex Medical, NeuroMetrix, Inc., DJO Global, Cyberonics, Inc, Nevro Corp, Boston Scientific Corporation, Nevro Corp., STYMCO Technologies, Omron Healthcare, Inc., Walgreen Co.
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