According to Fact.MR report, the Electrical Stimulation Devices Market will grow significantly between 2022 and 2027, at a CAGR of 8%. The market for electrical stimulation devices is currently estimated at US$ 7.5 billion, but by 2027, it is expected to grow to US$ 11 billion.
The use of spinal cord stimulation devices is anticipated to grow through 2027 at a CAGR of 8.2%. The market for spinal cord stimulation devices is primarily being driven by the rising prevalence of severe lower back pain, the rising rates of degenerative disc conditions in older persons, and the capacity of these devices to reduce pain and improve movement and sleep.
Electrical stimulation devices are medical devices that are used for various therapeutic purposes. These devices utilize electrical energy to stimulate the nerves and muscles of the body. They are designed to treat a wide range of conditions, including chronic pain, muscle disorders, and neurological disorders.
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Drivers
The growing incidence of chronic diseases, an increasing geriatric population, and the rising demand for minimally invasive surgeries are some of the key drivers of the electrical stimulation devices market. Furthermore, the growing awareness among people about the benefits of electrical stimulation therapy is also contributing to the market growth.
Competitive Landscape
Manufacturers of electrical stimulation devices are making significant investments and introducing new solutions in collaboration with other businesses to strengthen their positions in the global market. Key companies frequently use product releases and approval methods to extend their global footprint and product portfolio to meet rising market demand.
For instance:
- A compact muscle stimulator called ‘OA Reaction’ from DJO Global was introduced to help persons with joint diseases manage their pain. Three distinct technologies, including Web Tech, Boa Tech, and Exos Tech, are included in the product.
Key Companies Profiled
- MYOLYN
- RS Medical
- Nevro Corp.
- Zynex Medical
- Abbott Laboratories
- Boston Scientific Corporation
- BTL Industries, Inc.
- Cogentix Medical, Inc.
- Cyberonics, Inc.
- DJO Global, Inc.
- Medtronic PLC
- NeuroMetrix, Inc.
Trends
One of the emerging trends in the electrical stimulation devices market is the development of wearable devices. These devices are more convenient and can be used for extended periods of time. Another trend is the use of electrical stimulation devices in combination with other therapies, such as physical therapy and medication.
Benefits
The use of electrical stimulation devices offers several benefits. They are non-invasive and do not require the use of drugs, which reduces the risk of side effects. They are also effective in managing chronic pain, improving muscle strength, and restoring mobility. Additionally, they are easy to use and can be used at home.
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Risks
While electrical stimulation devices are generally safe, there are some risks associated with their use. These include skin irritation, muscle soreness, and discomfort during treatment. In rare cases, electrical stimulation devices can cause burns or skin damage. It is important to follow the manufacturer’s instructions carefully and to consult a healthcare professional before using these devices.
In conclusion, electrical stimulation devices are a promising therapy for various medical conditions. The market for these devices is expected to grow rapidly in the coming years, driven by factors such as the growing incidence of chronic diseases and the increasing demand for minimally invasive surgeries. While there are some risks associated with their use, the benefits of electrical stimulation therapy make it a viable treatment option for many patients.