GLOBAL ELECTROCONVULSIVE THERAPY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Global electroconvulsive therapy market size is expected to reach US$ 19.3 Mn by 2030, from US$ 16.1 Mn in 2023, exhibiting a compound annual growth rate (CAGR) of 2.6% during the forecast period.

Global electroconvulsive therapy market has been gaining significant traction over the forecast period due to rising incidences of depression and other mental health disorders worldwide. Electroconvulsive therapy (ECT) is a procedure, wherein small electric currents are passed through the brain, intentionally triggering a brief seizure. It is mainly used as a treatment for major depression, bipolar disorder, and schizophrenia. Over the years, technological advancements have made ECT a safer and more effective treatment option for severe mental illnesses. Moreover, growing awareness about mental health issues and de-stigmatization of ECT are supporting the market growth.   

Global Electroconvulsive Therapy Market- Regional Insights

• North America is expected to be the largest market for electroconvulsive therapy during the forecast period, accounting for over 35.7% of the market share in 2023. The North America electroconvulsive therapy market is driven by rising number of mental health disorders, increasing awareness about ECT benefits, development of new devices and supportive reimbursement policies. Growing acceptance of ECT therapy and development of brief pulse therapy devices and unilateral electrode placements has made it safer and more efficient treatment option.  
• Asia Pacific market is expected to be the second-largest market for electroconvulsive therapy market, accounting for over 25.2% of the market share in 2023. The Asia Pacific electroconvulsive therapy market is driven by the increasing burden of neurological and mental health disorders, growing awareness about ECT, and technological advancements enabling safer administration of ECT.
• Europe market is expected to be the fastest-growing market for electroconvulsive therapy market, with a share of 19% during the forecast period. The Europe electroconvulsive therapy market is driven by growing prevalence of mental health disorders, increasing awareness about effectiveness of ECT, and rising healthcare expenditure in European countries. Growing geriatric population is also prone to Alzheimer's and mood disorders which act as a high impact driver. However, social stigma associated with ECT procedure and preference of psychiatrists for other alternative therapies hampers the market growth.

Figure 1. Global Electroconvulsive Therapy Market Share (%), By Region, 2023

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Analyst View: Global electroconvulsive therapy market is expected to witness steady growth over the forecast period driven by increasing prevalence of mental disorders and growing acceptance of ECT as an effective treatment option. The market continues to gain preference among healthcare providers and patients, due to enhanced therapeutic effects of ECT as compared to other treatment modalities.

However, undesirable side-effects that are associated with ECT such as headaches, confusion, and memory loss post-treatment can hamper the market growth. Lack of trained professionals to administer ECT and social stigma that are related to the procedure also challenges the wider acceptance of ECT.

Global Electroconvulsive Therapy Market- Drivers

• Increasing prevalence of mental disorders: Increasing prevalence of mental disorders such as depression, schizophrenia, and others is one of the primary factors fueling the growth of global electroconvulsive therapy market. Mental illnesses have become more common in past decade with growing levels of stress, social isolation, and other societal issues exacerbating the problem. For instance, in 2021, according to National Institute of Mental Health, about 57.8 Mn of adults suffer from mental disorders in the U.S. every year.
• Growing applications of ECT: Growing applications of ECT is an important driving factor for the global electroconvulsive therapy market. Traditionally, ECT was used as a last resort for only severe and treatment-resistant depression. However, over the forecast period, therapeutic applications of ECT have substantially grown, as significant evidence has emerged of its efficacy in treating other mental health conditions apart from just depression. ECT is being routinely used for various conditions including bipolar disorder, schizophrenia, catatonia, and major neurological disorders like Parkinson's disease.
• Rising geriatric population: The global elderly population is growing at an unprecedented rate driven by increased life expectancy and falling birth rates. According to the United Nations, the number of people aged 65 years or over is projected to grow from 727 million in 2020 to over 1.5 billion in 2050. As advanced age is a significant risk factor for several mental health conditions including major depression, bipolar disorder, and schizophrenia, the rising geriatric demographic is expected to substantially increase the prevalence of these illnesses.

Global Electroconvulsive Therapy Market- Opportunities

• Advances in ECT devices: Advances in ECT devices present a great opportunity for growth in the global electroconvulsive therapy market. New innovations in ECT technology have significantly improved both the effectiveness and safety of treatment. Some key device manufacturers have introduced novel magnetic pulse ECT devices that target more localized areas of the brain with greater precision. This allows for more individualized treatment plans while reducing cognitive side effects post-treatment. Advances in stimulus waveform parameters and electrode placement techniques have enhanced ECT's ability to treat severe and treatment-resistant mental health conditions like depression and bipolar disorder.
• Development of new technologies: The development and adoption of new technologies has the potential to drastically transform the global electroconvulsive therapy market landscape in the near future. As researchers continue working to enhance safety, efficacy, and patient outcomes associated with ECT treatments, new innovations are emerging that could make the procedure more targeted, customizable, and acceptable to a wider patient population. Looking ahead, emerging digital technologies also offer promising opportunities. Developments in cloud-based tools, tele-ECT, and the integration of virtual/augmented reality with ECT hold potential to overcome geographic and infrastructural barriers to care.
• Increasing adoption of ECT devices: The worldwide adoption of electroconvulsive therapy (ECT) devices has been steadily rising over the forecast period. As research increasingly demonstrates the effectiveness of ECT for treating severe forms of mental illnesses like major depression and schizophrenia, more clinicians and healthcare facilities are recommending it as a viable treatment option. As awareness spreads of its advantages over other therapies when drugs do not work, more patients are opting for ECT who previously would not have considered it.

Global Electroconvulsive Therapy Market- Trends

• Usage of ultrabrief pulse ECT devices: With the introduction and increased adoption of ultrabrief pulse ECT devices globally, it is having a significant impact on the electroconvulsive therapy market landscape. These new generation devices deliver briefer electrical pulses as compared to brief pulse ECT devices and have largely replaced brief pulse devices in many countries. As new device technologies prolong modern devices' lifespan, capital expenditure on ultrabrief pulse ECT equipment replacement has emerged as a significant factor influencing the market. Major device manufacturers have benefitted from the widespread replacement of aging brief pulse equipment with new ultrabrief pulse models globally.
• Focus on R&D of modified ECT techniques: Global electroconvulsive therapy (ECT) market is witnessing significant changes due to the growing focus on research and development (R&D) of modified ECT techniques. Pharmaceutical companies and healthcare institutions are increasingly investing in clinical trials to develop ECT devices and protocols that can offer more effective treatment outcomes with lesser side effects.

Global Electroconvulsive Therapy Market - Restraints

• Risk of cognitive impairment: The risk of cognitive impairment post electroconvulsive therapy (ECT) is a major restraint for the growth of the global electroconvulsive therapy (ECT) market. Cognitive impairment refers to problems with concentration, memory, thinking, and reasoning that persist after undergoing ECT. Studies show up to 35-50% of patients experience some degree of memory loss post ECT, especially retrograde amnesia which affects memories formed prior to the treatment.
• Social stigma related to the therapy: Social stigma surrounding mental health issues and treatments like electroconvulsive therapy (ECT) remains a significant barrier to widespread acceptance and utilization of this therapy. Many patients are still reluctant to undergo ECT due to the negative stereotypes and misunderstandings around it. Decades of inaccurate portrayals of ECT in media and films, as an inhumane treatment, have left a lasting impact and impression, that it is a brutal and damaging procedure. Such ingrained stigma persists, despite medical evidence that modern ECT, with anesthesia and muscle relaxants, is a highly effective and relatively safe treatment for severe forms of depression, bipolar disorder and other mental illnesses when other therapies have failed. The social unease and shame attached to mental health issues discourages many from pursuing potentially life-saving therapies like ECT.

Counterbalance: The social stigma surrounding the misconception of the electroconvulsive therapy among the masses needs to be removed with proper awareness programs by the key market players.

Figure 2. Global Electroconvulsive Therapy Market Share (%), By Product Type, 2023

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Top Companies in Global Electroconvulsive Therapy Market

• Mecta
• Ectron
• Somatics, LLC.
• Jude Medical (Abbott)
• Among Others

Definition: Electroconvulsive Therapy (ECT) is a medical procedure in which small electrical currents are passed through the brain, intentionally triggering a brief seizure. ECT is typically used when severe depression, bipolar disorder, or other mental illnesses do not respond to other treatment modalities such as medications or psychotherapy. The procedure is conducted under general anesthesia, with muscle relaxants administered to prevent convulsions. Despite historical controversies and stigma, modern ECT is safe and regulated, often resulting in rapid symptom relief when other treatments have failed. The exact mechanism by which ECT facilitates improvement in psychiatric conditions is not fully understood, but it is believed to involve a complex cascade of neurochemical events that ultimately reset certain pathways in the brain.