5 Key Strategies to Succeed in Electrical Stimulators Market | 2023 – 2033
5 Key Strategies to Succeed in Electrical Stimulators Market | 2023 – 2033
According to a research report published by Spherical Insights & Consulting, The Global Electrical Stimulators Market Size is Expected to Grow from USD 3.5 Billion in 2023 to USD 9.5 Billion by 2033, at a CAGR of 10.50% during the forecast period 2023-2033.
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Electrical stimulators are medical or therapeutic devices designed to produce controlled electrical impulses to particular portions of the body. Such impulses will be used to stimulate muscle contraction, neuronal activity, or other tissue for a myriad of purposes. They mimic the natural electrical signals occurring in the neurological or muscular systems. A specific kind of physical therapy called muscle stimulation is used for healing injuries by enacting an electrical current through the muscle. In addition to improving blood flow, electrical stimulation lowers inflammation, strengthens weak or malfunctioning muscles, blocks pain signals, and raises muscle strength. In addition, it minimizes pain and spasms and hastens the healing of long-term wounds. Furthermore, an increasing number of chronic diseases like neurological, musculoskeletal, and cardiovascular conditions are driving growth in the market for electrical stimulators. The increasing number of elderly people and the growing number of age-related conditions that electrical stimulation therapy can treat are driving market demand. The sedentary lifestyle that leads to health issues like weakness and stiffness has driven the demand for rapid and easy muscle-toning methods. However, the high device costs, limited reimbursement policies, potential side effects, lack of awareness in developing regions, and stringent regulatory requirements.
Browse key industry insights spread across 230 pages with 150 Market data tables and figures & charts from the report on the Global Electrical Stimulators Market Size, Share, and COVID-19 Impact Analysis, By Product (Transcutaneous Electrical Nerve, Neuromuscular Electric, Spinal Cord Stimulators, and Deep Brain Stimulators), By Application (Pain Management, Neuromodulation, and Aesthetics), By End-user (Hospitals, Clinics, Home Care, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The deep brain stimulators segment is anticipated to hold the greatest share of the global electrical stimulators market during the forecast period.
On the basis of the product, the global electrical stimulators market is divided into transcutaneous electrical nerve, neuromuscular electric, spinal cord stimulators, and deep brain stimulators. Among these, the deep brain stimulators segment is anticipated to hold the greatest share of the global electrical stimulators market during the forecast period. This is attributed to the deep brain electrical stimulator which is widely used for neurological conditions, like Parkinson’s disease, and other conditions like movement disorders, OCD, essential tremors, and epilepsy.
The pain management segment is expected to hold the largest share of the global electrical stimulators market during the forecast period.
Based on the application, the global electrical stimulators market is divided into pain management, neuromodulation, and aesthetics. Among these, the pain management segment is expected to hold the largest share of the global electrical stimulators market during the forecast period. This is due to the electrical stimulator being capable of helping manage a variety of pain conditions, such as inflammatory, musculoskeletal, and neuropathy pain. The market growth in the pain segment is accelerated by the high prevalence of chronic pain conditions.
The hospital segment is anticipated to hold the greatest share of the global electrical stimulators market during the forecast period.
On the basis of the end user, the global electrical stimulators market is divided into hospitals, clinics, home care, and others. Among these, the hospital segment is anticipated to hold the greatest share of the global electrical stimulators market during the forecast period. This is attributed to the reason that hospitals, which are the main end users of electrical stimulators and offer complete healthcare delivery, have the infrastructure and expertise needed for deep brain stimulation.
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North America is expected to hold the greatest share of the global electrical stimulators market over the projected timeframe.
North America is expected to hold the greatest share of the global electrical stimulators market over the projected timeframe. The demand for chronic pain treatment is rising due to the growing prevalence of chronic disorders, which in turn is driving up demand for electrical stimulators. Electrical stimulators are becoming more and more popular as a means of treating pain related to sports injuries, especially in the United States.
Asia-Pacific is anticipated to grow at a rapid CAGR growth of the global electrical stimulators market during the forecast period. The rising demand for high-quality healthcare in the area, the expansion of R&D activities, the rise in medical tourism, the availability of a sizable untapped market, and the growing government awareness-raising initiatives are all driving the electrical stimulator market in the region.
Major vendors in the global electrical stimulators market are Medtronic Plc, Abbott, BTL Corporate, Boston Scientific Corporation, DJO Global, Zynex, Inc., HMS Medical Systems, OMRON Corporation, BioMedical Life Systems, Asahi Kasei Corporation, NeuroMetrix, Inc., Cyberonics, Inc., BIOTRONIK, Inc., CU Medical System Inc., Koninklijke Philips N.V., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In April 2024, the FDA in the United States approved Medtronic’s InceptivTM closed-loop rechargeable spinal cord stimulator (SCS), which is intended to treat chronic pain. With its closed-loop system, this device senses biological signals along the spinal cord and instantly modifies stimulation to match therapy with the patient’s everyday activities. The world’s smallest and thinnest fully implantable SCS device, Inceptiv, is notable for providing full-body 1.5T and 3T MRI access without power or impedance limitations.
- In February 2024, participating in Avation Medical’s Series C funding round, Asahi Kasei helped raise over $22 million. This investment backs the FDA-approved, non-invasive wearable neuromodulation device called the Vivally System, which is being introduced in the United States to treat urge urinary incontinence and urgency brought on by overactive bladder syndrome. The gadget is designed for weekly 30-minute sessions at home and provides closed-loop, independently controlled electrical stimulation.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global electrical stimulators market based on the below-mentioned segments:
Global Electrical Stimulators Market, By Product
- Transcutaneous Electrical Nerve
- Neuromuscular Electric
- Spinal Cord Stimulators
- Deep Brain Stimulators
Global Electrical Stimulators Market, By Application
- Pain Management
- Neuromodulation
- Aesthetics
Global Electrical Stimulators Market, By End-User
- Hospitals
- Clinics
- Home Care
- Others
Global Electrical Stimulators Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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