Market Trends of Global Electrotherapy Devices Industry
This section covers the major market trends shaping the Electrotherapy Devices Market according to our research experts:
Nervous Disease Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Neurological disorders are conditions that affect the spinal cord, brain, and body's nerves. The demand for nerve stimulation is increasing with the increasing number of cases of neurological diseases, especially in the use of electrotherapy devices. Hence, it is expected to fuel the segment's growth over the analysis period.
An increase in the number of patients suffering from central nervous system (CNS) disorders is likely to be the key factor contributing to the growth of the segment in the studied market. As per Alzheimer's Disease Facts and Figures 2022, published by the Alzheimer's Association in April 2022, Alzheimer's is more prevalent among people above 65 years of age. Additionally, the WHO data also reported that the number would reach 82 million by 2030. This increasing burden of nervous system disorders is anticipated to drive the demand for electrotherapy. Thereby driving the segment's growth globally.
Moreover, neurologic spinal cord injury impacts almost all physiologic systems, and patients may have a wide range of symptoms that have a significant impact on their function and quality of life. According to the article published in the National Library of Medicine in January 2022, muscle contraction is induced by electrical stimulation and can be used for neurorehabilitation after spinal cord injury (SCI). Additionally, as per the source above, the electrotherapy technique is currently a significant treatment strategy that helps individuals with SCIs regain their motor function. Thus, with an increasing incidence of SCIs and nervous disease globally, the demand for electrotherapy is increasing. This is further expected to drive segment growth.
Therefore, owing to the increasing burden of nervous diseases, the segment is expected to witness growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is one of the major contributors to the studied market, owing to the rise in sports injuries and increasing clinical trials in the region. The incidence of sport-related injuries, such as ligament sprains, muscle sprains, supraspinatus tendinitis, and others, is increasing among the population. This is anticipated to fuel the demand for electrotherapy products, boosting the market growth. For instance, according to the National Safety Council (NSC), in 2021, exercise equipment accounted for about 409,224 injuries in the United States, the most in any category of sports and recreation. Next, to exercise equipment injuries, the injuries caused by bicycles and accessories accounted for 375,797 in 2021. Furthermore, as per the Sports Accident Statistics report updated by LegalMatch in August 2022, injuries to the anterior cruciate ligament (ACL) occur roughly 150,000 every year in the United States.
According to the article published in the Acta Médica Journal stated, in a study conducted in Hospital Ángeles Mocel, Mexico, in 2021, the sport with the highest incidence of surgical sports injuries is soccer, with 39% for both genders. Meniscal injuries and anterior cruciate ligament (ACL) injuries are the most frequent diagnoses. Hence, the high burden of sports injury in the region is anticipated to drive the demand for electrotherapy procedures.
Furthermore, clinical trials in the region are another factor in market growth. For instance, in January 2022, a clinical trial was initiated by Institut Cancerologie de l'Ouest to evaluate the effectiveness of TENS and TENS ECOMODYN on the management of chronic breast pain after surgery. The study is expected to be completed by 2024. Such clinical trials are expected to provide innovative products in the market for breast pain post surgeries. Thus, such clinical trials are expected to increase market growth in the region.
Therefore, owing to these factors above, such as sports injuries, and clinical trials, North America is believed to hold a significant share of the market studied over the forecast period.
