Electrotherapy System Market to Surpass US$ 7,664.7 Million by 2027 - Coherent Market Insights

Global Electrotherapy System Market, by Technology (Transcutaneous Electrical Nerve Stimulation (TENS), Neuromuscular Electrical Stimulation (NMES), Inferential Current (IFC), Percutaneous Electrical Nerve Stimulation (PENS), Electronic Muscle Stimulator (EMS), Spinal Cord Stimulation (SCS), Electro-acupuncture (EA), and Others), by Application (Chronic Wound Healing, Neuromuscular Dysfunction, Pain Management, Tissue Repair, Musculoskeletal Disorder, Physical Therapy, Iontophoresis, and Others), by Therapy (Extracorporeal Shock Wave Therapy, Magnetic Field Therapy, Ultrasound Therapy, Microcurrent Therapy, Interferential Current Therapy, and Others), by End User (Hospitals, Rehabilitation Centers, and Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 4,523.0 million in 2020 and is expected to exhibit a CAGR of 7.8 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Key companies are focusing on different growth strategies such as geographical expansions to maintain a competitive edge in the market. For instance, in December 2018, DJO Global, Inc. relocated its global headquarters from San Diego, California to Dallas, Texas. The aim behind this expansion was to help the company to improve accessibility to customers and strengthen its position in the global electrotherapy system market.

Moreover, key companies focusing on inorganic strategies such mergers and acquisitions. In 2019, DJO Global, Inc. collaborated with XPO Logistics, a global logistics provider of supply chain solutions, to manage a part of DJO’s North American distribution operations. The collaboration has helped DJO Global to expand its customer base in North America region.

Global Electrotherapy System Market – Impact of Coronavirus (COVID-19)

• The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global electrotherapy system market. The COVID-19 pandemic has affected the demand and supply of electrotherapy system market in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and 3) by its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. are disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
• In order to combat this COVID-19, market players in electrotherapy system market are focusing on introducing new electrotherapy products which is expected to drive the market growth. For instance, on April 22, 2020, OMRON Healthcare, Inc. launched Focus TENS Therapy for Knee, a wearable device with transcutaneous electrical nerve stimulation technology, indicated for chronic, arthritic and acute pain associated with exercise strain or daily activity.

Browse 46 Market Data Tables and 48 Figures spread through 221 Pages and in-depth TOC on “Global Electrotherapy System Market, by Technology (Transcutaneous Electrical Nerve Stimulation (TENS), Neuromuscular Electrical Stimulation (NMES), Inferential Current (IFC), Percutaneous Electrical Nerve Stimulation (PENS), Electronic Muscle Stimulator (EMS), Spinal Cord Stimulation (SCS), Electro-acupuncture (EA), and Others), by Application (Chronic Wound Healing, Neuromuscular Dysfunction, Pain Management, Tissue Repair, Musculoskeletal Disorder, Physical Therapy, Iontophoresis, and Others), by Therapy (Extracorporeal Shock Wave Therapy, Magnetic Field Therapy, Ultrasound Therapy, Microcurrent Therapy, Interferential Current Therapy, and Others), by End User (Hospitals, Rehabilitation Centers, Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”.

To know the latest trends and insights prevalent in the global electrotherapy system market, click the link below:

https://www.coherentmarketinsights.com/market-insight/electrotherapy-system-market-3034

The market is expected to witness significant growth during the forecast period as academic and research institutes are focusing on research and development which is expected to drive demand for electrotherapy systems in the market. For instance, in November 2018, physicians at the Massachusetts Eye and Ear Institute induced a sense of smell in humans by using electrodes in the nose to stimulate nerves in the olfactory bulb, thereby accelerating the development of smell restoration technology in the electrotherapy market.

Key Takeaways of the Global Physical Therapy Rehabilitation Solutions Market:

• The global electrotherapy system market is expected to exhibit a CAGR of 7.8 % during the forecast period, as key companies are focusing on product launches and product approval of electrotherapy devices in market.
• Among technology, the spinal cord stimulation segment is estimated to hold the largest market share in 2020 as manufacturers are focusing on product launches which can be used for spinal cord stimulation for treatment of chronic pain.
• Among application, the pain management segment is estimated to hold the largest market share in 2020 owing to the increasing adoption of electric stimulation for managing chronic pain associated with cancer and arthritis
• Among therapy, the magnetic field therapy segment is estimated to hold the largest market share in 2020, as key players focusing on obtaining approvals for electrotherapy products.
• Companies operating in the global electrotherapy system market are Medtronic Plc, Zynex Medical Inc., DJO Global, Inc., Nevro Corporation, BTL Industries, Inc., Zealmax Innovations Pvt. Ltd, LivaNova PLC, EMS Physio Ltd, STYMCO Medical and Omron Corporation.