Electrical Stimulation Devices Market by Growing Technology Trends till 2027

The considerably growing prevalence of chronic pain is projected to drive the growth of the electrical stimulation devices market during the forecast period. According to a study published by the NCBI in 2016, extensively increasing prevalence of chronic pain and associated conditions are the leading cause of disability worldwide. Moreover, according to another study published by NCBI in2019, 30.0% of the population suffers from some form of chronic pain. Factors such as genetic conditions, sedentary lifestyle, aging, mental stress, and surgical interventions are among of the prominent causes of chronic pain. In addition, according to a study published by American Chiropractic Association in 2020, ~31 million Americans suffer from lower back pain at some point of time in their lives, which is majorly related to sedentary lifestyle.

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Boston Scientific Corporation; Medtronic; Abbott; BTL; DJO Global, Inc.; Ava Science Inc.; NEVROCORP.; Zynex Medical; Laborie, Inc.; Liva Nova PLC; and Neuro Metri are among the leading companies operating in the electrical stimulation devices market.

Based on the device type, the global electrical stimulation devices market is segmented into spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation(VNS) devices, sacral nerve stimulation (SNS) devices, gastric electrical stimulation (GES) devices, transcutaneous electrical nerve stimulation (TENS)devices, and neuromuscular electrical stimulation (NMES/EMS) devices and other devices. The SNS devices segment estimated to register the highest CAGR in the market during the forecast period. The projected growth of the market for this segment is attributed to the advantages such as the effectiveness of sacral nerve stimulation devices in the treatment of urinary incontinence. Additionally, increasing prevalence of urinary and fecal incontinence would generate major demand for electric stimulation devices in the coming years. Furthermore, growing number of product approvals and launches are also anticipated to drive the adoption of these products during the forecast period.

The electrical stimulation devices market was valued at US$ 5,643.7million in 2019 and is projected to reach US$ 11,334.0 million by 2027; it is expected to grow at a CAGR of 9.3% during 2020–2027.

With the advent of advanced technologies, the new devices are capable of reducing pain to considerable extent. For instance, Spectra Wave Writer Spinal Cord Stimulator System launched by Boston Scientific Corporation is capable of providing great relief to chronic pain. In addition, the devices enable the customization of therapy and real-time monitoring of therapy. These benefits of electrical stimulation devices, coupled with increasing prevalence of chronic pain, drives the growth of the electrical stimulation devices market.

The report segments global electrical stimulation devices market as follows:

By Device Type

Spinal Cord Stimulation Devices
Deep Brain Stimulation Devices
Vagus Nerve Stimulation (VNS) Devices
Sacral Nerve Stimulation (SNS) Devices
Gastric Electrical Stimulation (GES) Devices
Transcutaneous Electrical Nerve Stimulation (TENS) Devices
Other Electrical Stimulation Devices
By Application

Pain Management
Neurological and Movement Disorder Management
Musculoskeletal Disorder Management
Metabolism and GIT Management
Incontinence Management
Other Applications

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