Electrotherapy Market Was Valued at USD 985.1 million in 2021, Increasing Prevalence of Neurological Disorders

According to Precision Business Insights (PBI), the latest report the global Electrotherapy market is expected to be worth USD 985.1 million in 2021 and projected to grow at 4.5% CAGR over 2022 to 2028. The growth attributed to the rising prevalence of spinal injuries and low back pain, as well as their rising use in sports medicine, is projected to boost the global market for electrotherapy systems. According to the World Health Organization, around 16% of the global population is overweight. Furthermore, rising incidences of chronic diseases such as diabetes and obesity are expected to drive growth in the worldwide electrotherapy system market between 2022 and 2028.

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The Transcutaneous Electrical Nerve Stimulation Segment is Dominating the Electrotherapy Market
The Transcutaneous Electrical Nerve Stimulation segment is expected to account for a larger revenue share, and the market is anticipated to grow at a double-digit growth rate over the forecast years owing increase in the number of pain injuries and technology developments are examples of such factors. A significant driver of this market is the high prevalence of exercise-related muscle spasms. According to research done by the American Medical Society for Sports Medicine, 67% of triathletes had exercise-related muscular cramps (EAMC).

North America Leads Electrotherapy Market:
North America is anticipated to hold a significant market share in the global Electrotherapy market. It is projected to grow at a substantial growth rate over the forecast years due to the rising aging population, rising prevalence of chronic and lifestyle-associated conditions, developed healthcare infrastructure, and high healthcare spending. Moreover, Asia pacific is also dominating the market owing to the rising prevalence of neuropathy and other associated disorders, rising number of patients suffering from neurology-related pain disorders, government initiatives, growing geriatric population, and increasing incidences of diabetes. These factors are driving the market expansion of electrotherapy in Asia-Pacific.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Electrotherapy market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region.

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The electrotherapy market is segmented based on Technology, Therapy, End User and Geography.
Based on the Technology, the market is segmented into the following:
• Transcutaneous Electrical Nerve Stimulation
• Spinal Cord Stimulation
• Electronic Muscle Stimulator
• Electro acupuncture
• Inferential Current

Based on the Therapy, the market is segmented into the following:
• Extracorporeal Shock Wave Therapy
• Micro current Therapy
• Magnetic Field Therapy
• Ultrasound Therapy
• Interferential Current Therapy

Based on the End User, the market is segmented into the following:
• Hospitals
• Rehabilitation Centers
• Clinics
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the electrotherapy market report are DJO Global, Inc, Zynex Medical, Medtronic, Stymco Technologies, Omron Healthcare, Walgreen Co, Chirag Electronics, Abbott, Nevro Corp, Boston Scientific Corporation.

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