Market Size of Electrical Stimulation Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 9.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Electrical Stimulation Devices Market Analysis
The Electrical Stimulation Devices market studied is anticipated to grow with a CAGR of 9.5%, during the forecast period. The major factors attributing to the growth of the electrical stimulation devices market are the growing incidence of spinal injury triggered by accidents, violence, or falling anticipated to boost the demand for spinal surgery, which is assessed to upsurge the market growth for electrical stimulation devices.
As per the NINDS 2019 Factsheet, there are around 12,000 estimated spinal cord injuries in the United States each year. Falls are the world's second primary cause of unintentional or accidental fatalities from injuries. According to the WHO 2018 data every year there are 37.3 million cases that are serious enough to require medical care and around 646,000 people die globally each year from falls which are expected to further boost the demand for electrical stimulation devices for treatment.
Electrical Stimulation Devices Industry Segmentation
As per the scope of the report, electrical stimulation (ES) treatment requires the use of electrodes for the transmission of electrical current to affected areas of the body. ES is used for comforting and contraction in the neuromuscular and wound healing. Basically, electrical stimulators are being used to treat muscle spasms as a result of wounds or neurological ailments.
| By Device Type | |
| Deep Brain Stimulation Devices | |
| Spinal Cord Stimulation Devices | |
| Sacral Nerve Stimulation Devices | |
| Vagus Nerve Stimulation Devices | |
| Neuromuscular Electrical Stimulation Devices | |
| Other Electrical Stimulation Devices |
| By Application | |
| Musculoskeletal Disorder Management | |
| Pain Management | |
| Metabolism & GIT Management | |
| Neurological and Movement Disorder Management | |
| Incontinence Management | |
| Others |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Others |
| Geography | ||||||||
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Electrical Stimulation Devices Market Size Summary
The electrical stimulation devices market is poised for significant growth, driven by the increasing incidence of spinal injuries due to accidents, violence, and falls, which are expected to elevate the demand for spinal surgeries. This surge in surgical procedures is anticipated to propel the market for electrical stimulation devices. The pain management segment holds a dominant position in the market, largely due to the high prevalence of chronic pain conditions and the growing utilization of these devices for their therapeutic benefits. Chronic pain remains a leading cause of suffering globally, affecting a substantial portion of the population, which in turn is contributing to the expanding market share of electrical stimulation devices.
North America is projected to lead the electrical stimulation devices market throughout the forecast period, attributed to the rising prevalence of chronic disorders in the region. The presence of key manufacturers in the United States further bolsters market growth. The competitive landscape of the market is moderately concentrated, with a few major players holding significant market shares. Companies such as Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, BTL Corporate, and DJO Global, Inc. are at the forefront, actively investing and launching new products to strengthen their global market positions.
Electrical Stimulation Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increase in the Incidence of Chronic Diseases, Neurological Disorders and Spinal Injuries
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1.2.2 Deskbound Ways of life that lead to Chronic Health Issues
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1.3 Market Restraints
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1.3.1 Stringent Regulation for Device Approval
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1.3.2 Availability of Wide Range of Alternatives for Electrical Stimulation Systems
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Device Type
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2.1.1 Deep Brain Stimulation Devices
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2.1.2 Spinal Cord Stimulation Devices
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2.1.3 Sacral Nerve Stimulation Devices
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2.1.4 Vagus Nerve Stimulation Devices
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2.1.5 Neuromuscular Electrical Stimulation Devices
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2.1.6 Other Electrical Stimulation Devices
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2.2 By Application
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2.2.1 Musculoskeletal Disorder Management
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2.2.2 Pain Management
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2.2.3 Metabolism & GIT Management
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2.2.4 Neurological and Movement Disorder Management
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2.2.5 Incontinence Management
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2.2.6 Others
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Ambulatory Surgical Centers
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Electrical Stimulation Devices Market Size FAQs
What is the current Electrical Stimulation Devices Market size?
The Electrical Stimulation Devices Market is projected to register a CAGR of 9.5% during the forecast period (2024-2029)
Who are the key players in Electrical Stimulation Devices Market?
Medtronic plc, Abbott, Boston Scientific Corporation, DJO Global, Inc. and BTL Corporate are the major companies operating in the Electrical Stimulation Devices Market.
