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

Electroconvulsive Therapy (ECT) is a medical treatment most commonly used for patients with severe major depression or bipolar disorder that has not responded to other treatments. It involves a brief electrical stimulation of the brain while the patient is under anesthesia. Despite the stigma associated with its early use, ECT has significantly evolved and is considered a safe and effective intervention for certain psychiatric disorders. It was first introduced in  1930s, and has undergone numerous modifications in terms of both technique and safety. In modern practice, patients are given a muscle relaxant and put under general anesthesia before the procedure. Electrodes are placed at specific sites on the scalp, and a controlled electric current is passed through the brain, which causes  a brief seizure. The mechanisms by which ECT works are still not fully understood, but it is believed to cause changes in brain chemistry that can quickly reverse symptoms of certain mental health conditions. ECT is typically administered two to three times a week, for a total of six to twelve treatments. The immediate side effects may include short-term memory loss, disorientation, and confusion, but these are usually transient. ECT can be life-saving, particularly for individuals with severe depression who are at high risk of suicide, or for those who cannot tolerate or do not respond to medication. As a treatment option, ECT must be considered with caution, and thorough discussions between the patient, their family, and the treatment team are necessary to address the risks and benefits. ECT is practiced under stringent medical guidelines to ensure patient safety and consent.

 Market Dynamics:

Rising prevalence of mental health disorders such as treatment-resistant depression is a key driver augmenting the growth of global electroconvulsive therapy market. For instance, according to the World Health Organization (WHO), in 2020, more than 264 Mn people worldwide suffered from depression, and approximately 850,000 deaths are depression-related each year. Introduction of technologically advanced ECT devices with bilateral brief-pulse stimulus is further fueling the adoption.

However, side effects that are associated with ECT includes  headache, nausea, confusion, and memory loss act as a major restraint. Development of targeted transcranial magnetic stimulation is an emerging opportunity.

Key features of the study:

• This report provides in-depth analysis of the global electroconvulsive therapy market, and provides market size (US$ Mn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global electroconvulsive therapy market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Mecta, Ectron, Somatics, LLC., St.Jude Medical (Abbott), and among others
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global electroconvulsive therapy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electroconvulsive therapy market

Detailed Segmentation:

• Global Electroconvulsive Therapy Market, By Product Type
  • Unilateral Electroconvulsive Therapy
  • Bilateral Electroconvulsive Therapy
• Global Electroconvulsive Therapy Market, By Application
  • Major Depressive Disorder (MDD)
  • Bipolar Disorder
  • Schizophrenia
  • Others
• Global Electroconvulsive Therapy Market, By End User
  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Others
• Global Electroconvulsive Therapy Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Top Companies in the Global Electroconvulsive Therapy Market:
  • Mecta
  • Ectron
  • Somatics, LLC.
  • Jude Medical (Abbott)
  • Among Others