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Evolving Market Trends In The Electrical Stimulation Devices Industry: Technological Advancements Transforming The Landscape Of Electrical Stimulation Devices In Healthcare
Electrical Stimulation Devices
What Is the Current Electrical Stimulation Devices Market Size and Its Estimated Growth Rate?
In recent years, there has been significant growth in the market size of electrical stimulation devices. The market, which stood at $7.75 billion in 2024, is projected to increase to $8.5 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 9.6%. The substantial growth experienced in the past can be associated with factors such as the application in sports and fitness, a shift towards non-invasive therapies, clinical validation, an increase in chronic health conditions, and regulatory support.
The market size of electrical stimulation devices is predicted to witness significant growth in the coming years, reaching $12.33 billion by 2029, with a compound annual growth rate (CAGR) of 9.8%. This projected growth during the forecast period can be attributed to factors such as the aging global population, an increased number of chronic health conditions, growing clinical validation, a favorable legislative environment, emphasis on mental health, and a heightened focus on preventive healthcare. The future trends shaping this sector include supportive regulations and insurance coverage policies, surging chronic health conditions, scientifically backed research and evidence, a shift towards therapies that are not invasive, and increasing usage in sports and fitness.
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What Are the High-Growth Segments in the Electrical Stimulation Devices Market?
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 And Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism And GIT Management, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users
Subsegments:
1) By Deep Brain Stimulation Devices: Implantable Pulse Generators, Electrodes, Accessories
2) By Neuromuscular Electrical Stimulation Devices: Transcutaneous Electrical Nerve Stimulators (TENS), Functional Electrical Stimulation (FES) Devices, Surface Electrode Systems
3) By Sacral Nerve Stimulation Devices: Implanted Pulse Generators, Leads, External Testing Devices
4) By Spinal Cord Stimulation Devices: Implantable Pulse Generators, Leads, Battery Systems
5) By Other Devices: Vagus Nerve Stimulation Devices, Peripheral Nerve Stimulation Devices, Cochlear Implants
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What Key Drivers Are Expected to Influence Future Electrical Stimulation Devices Market Growth?
The electrical stimulation devices market is anticipated to experience growth due to the rising occurrence of muscle disorders. These muscular disorders are genetic diseases inherited over time that cause muscle weakness even when the nervous system remains intact. Such disorders may lead to weakness or paralysis. Electrical stimulation devices aid in minimizing muscle weakness by facilitating a safe and modulated muscular contraction via skin electrodes and a portable stimulator. For example, the Australian Institute of Health and Welfare, a government agency based in Australia, reported in June 2024 that approximately 7.3 million Australians, or 29%, were predicted to have chronic musculoskeletal conditions in 2022. Out of these, 4.0 million or 16% were noted to suffer from back problems, 3.7 million or 15% were diagnosed with arthritis, and 854,000 (3.4%) were impacted by osteoporosis or osteopenia. Consequently, the escalating occurrence of muscle disorders is driving the growth of the electrical stimulation devices market.
Which Companies Hold the Largest Share Across Different Electrical Stimulation Devices Market Segments?
Major companies operating in the electrical stimulation devices market include 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., 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
What Trends Are Driving Growth in The Electrical Stimulation Devices Market?
Advancements in technology are emerging as a significant trend in the electrical stimulation market. Leading market participants are launching sophisticated, FDA-endorsed electrical stimulation equipment for improved patient care. For example, in August 2022, Abbott Laboratories, a firm from the USA that produces electrical stimulation devices, unveiled that the US FDA had authorized Proclaim Plus, an innovative tech-based spinal cord stimulation equipment grounded on FlexBurst360 therapy. This represents the next evolution of BurstDR stimulation therapy, providing more widespread myotomal coverage at decreased amplitudes compared to single-area stimulation, offering tailored pain relief for a variety of pain conditions and extending the assortment of therapeutic options.
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What Are the Emerging Geographies for The Electrical Stimulation Devices Market Growth?
North America was the largest region in the electrical stimulation devices market in 2024. 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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electrical Stimulation Devices Market?
2. What is the CAGR expected in the Electrical Stimulation Devices Market?
3. What Are the Key Innovations Transforming the Electrical Stimulation Devices Industry?
4. Which Region Is Leading the Electrical Stimulation Devices Market?
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