Electrotherapy Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

The global electrotherapy devices market was valued at USD 954.78 million in 2023, growing at a CAGR of 2.79% during the forecast period from 2024 to 2030 to reach USD 1.12 billion by 2030. The electrotherapy devices market is witnessing positive growth owing to various factors such as the rising prevalence of diabetes, rising incidence of spinal injuries, increasing prevalence of chronic pain, rising burden of the geriatric population suffering from spine-related disorders, and technological advancements in product development. Therefore, the market for electrotherapy devices is estimated to grow at a significant CAGR during the forecast period from 2024 to 2030.

Electrotherapy Devices Market Dynamics:

One of the main drivers of the electrotherapy devices market is the rising prevalence of diabetes amongst the population globally. According to the International Diabetes Foundation 2022, in 2022, approximately 537 million adults were living with diabetes. As per the same source, the total number of people that were living with diabetes can be projected to rise to 643 million by the year 2030 and 785 million by the year 2045. Moreover, diabetes is not only a lifestyle disorder but also occurs as a result of aging, thereby increasing the prevalence of diabetes condition around the world. Owing to an increase in the prevalence of diabetes there will be a greater demand observed for electrotherapy devices as they will be readily used for the treatment and management of diabetic neuropathy which in turn would drive the overall electrotherapy devices market forward over the forecast period (2024-2030).

Moreover, another key factor that is driving the growth of the electrotherapy devices market is the rising incidence of spinal injuries. For instance, as per the US National Safety Council (NSC), in the year 2020, bicycling accounted for about 426,000 injuries, the most of any category of sports and recreation. Exercise, with or without equipment, followed with approximately 378,000 injuries, while All-Terrain Vehicle (ATV), moped, and minibike use accounted for 230,000 injuries, and skateboard, scooter as well as hoverboard use, with 218,00 injuries, ranked third and fourth.

Additionally, according to data published by the World Health Organization in the year 2023, between 250,000 and 500,000 people worldwide experience Spinal Cord Injuries (SCI) every year. The majority of SCIs are caused by car accidents, slips, falls, or violent acts.

Therefore, the factors stated above collectively will drive the overall electrotherapy devices market during the forecast period from 2024-2030.

The higher cost associated with electrotherapy devices & procedures and lack of awareness regarding the availability of electrotherapy procedures in various developing countries will cause a restraint, thereby hindering the demand for electrotherapy devices, leading to an overall decrease in the market growth of electrotherapy devices market.

The unprecedented COVID-19 pandemic has had a slightly negative effect on the electrotherapy devices market. This is because the prime focus was given to the treatment of COVID-19 patients. Patients suffering from pain-related conditions and other disorders were considered low priority. Also, the stringent guidelines implemented by various governments across the globe, and the halt in manufacturing facilities slowed down the market for electrotherapy devices. However, due to the global launch of different vaccines and the implementation of mass vaccination across the globe the service for other treatments also resumed, therefore the electrotherapy devices market has picked momentum and is expected to further grow during the forecast period.

Electrotherapy Devices Market Segment Analysis:

Electrotherapy Devices Market By Product Type (High Frequency, Medium Frequency, and Low Frequency), Treatment Type (Transcutaneous Spinal Electro Analgesia (TSE), Transcutaneous Electrical Nerve Stimulation (TENS), Interferential Current Therapy (IFC), Percutaneous Electrical Nerve Stimulation (PENS), Pulsed Electromagnetic Field Therapy (PEMF), and Others), Application (Pain Management, Tissue Repair & Wound Healing, Anxiety & Insomnia Management, Sports Medicine, and Others), End-User (Hospitals & Clinics, Rehabilitation Centers, Long Term Care Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the application segment of the electrotherapy devices market, due to pain management, the electrotherapy devices market is expected to have the highest revenue share in the year 2023. Electrical impulses are used in electrotherapy to block the brain's ability to receive neural pain signals. The signal traveling from the nerve to the brain is essentially slowed down or distracted. In this method, tiny electrical impulses are sent across the skin by the device. Moreover, a sticky pad or carbon electrodes are applied to the skin in the painful area and linked to the gadget by wires. This enables the spread of a weak, low-intensity electric charge. When tissue damage has occurred, electrotherapy can also employ electric current to facilitate tissue repair. Further, electrotherapy is a non-invasive as well as a safe form of treatment. Thus, electrotherapy is an umbrella term that covers several therapies using electric current which reduce pain and ease muscular tension.

Therefore, the factors and benefits associated with electrotherapy devices for pain management, uplift the electrotherapy devices demand in the market, which could drive the growth of the overall global electrotherapy devices market during the forecast period.

Also, the regulatory approvals for pain management devices help in improving the demand for electrotherapy devices, thereby increasing the growth of the overall electrotherapy devices market. For instance, in June 2022, Wuxi Jiajian Medical Instrument Co., Ltd, a technology-intensive enterprise, received United States (US) Food and Drug Administration (FDA) approval for its Transcutaneous Electrical Nerve Stimulator (TENS), the device is intended for use in the therapy of post-surgical and post-traumatic pain, as well as for the symptomatic relief of chronic pain.

Moreover, due to the interplay of all the factors mentioned above, this can result in the rising demand for electrotherapy devices, which in turn would provide a conducive growth environment for overall electrotherapy devices during the market forecast 2024-2030.

North America is expected to dominate the overall Electrotherapy Devices Market:

Among all the regions, North America is expected to dominate the global electrotherapy devices market in the year 2023 and is expected to do the same during the forecast period from 2024-2030. Factors such as the rising burden of the geriatric population in the region suffering from spine-related disorders and the increasing prevalence of kidney diseases and the rise in the regulatory approvals for electrotherapy devices increase the demand for electrotherapy devices in the North America market.

As per the latest statistics, according to the 2020 Spinal Cord Injury (SCI) data sheet from the National SCI Statistical Center (NSCISC), approximately 17,810 new SCI occur each year in the United States. Moreover, there were between 250,000 and 368,000 people in the United States who were living with SCI. Therefore, the rising incidence of SCI also increases the chances of suffering from pain, this would increase the demand for electrotherapy devices, which could boost the overall electrotherapy devices market forward over the forecast period (2024-2030).

Furthermore, another factor such as the rise in the regulatory approvals for electrotherapy devices could drive the electrotherapy devices overall market in the region. For instance, in June 2022, NeuraLace Medical, Inc., a medical device company, received the United States FDA approval and US launch for its Axon Therapy to non-invasively stimulate peripheral nerves and provide chronic nerve pain relief.

Therefore, all factors will collectively provide a conducive growth environment for the North American region in the electrotherapy devices market.

Electrotherapy Devices Market Key Players:

Some of the key market players operating in the electrotherapy devices market includes Medtronic, Zynex Medical, Stymco, Omron Healthcare Inc., HMS Medical Systems, EME Physio Division, NEVRO CORP, Boston Scientific Corporation, EMS Handels Gesellschaft mbH, Shenzhen XFT Medical Limited, Enraf-Nonius, MTR+, BTL Corporate, Zimmer MedizinSysteme GmbH, TUR Therapietechnik GmbH, schwa-medico GmbH, EMS Physio Ltd, Chattanooga (DJO, LLC), MTB Devices Limited, Astar, and others

Recent Developmental Activities in the Electrotherapy Devices:

• On December 22, 2020, the device actiTens by the company Sublimed was approved by the Food and Drug Administration.
• On June 12, 2020, the Electrical Stimulator System, also known as the Transcutaneous Electrical Nerve Stimulator was granted the Food and Drug Administration approval by the company Gymmax Technology Shenzhen Co., Ltd.

Key Takeaways from the Electrotherapy Devices Market Report Study

• Market size analysis for current electrotherapy devices market (2023), and market forecast for 6 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the electrotherapy devices market
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global electrotherapy devices
• Various opportunities are available for the other competitor in the electrotherapy devices market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current electrotherapy devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for electrotherapy devices market growth in the coming future?

Target Audience who can be benefited from this Electrotherapy Devices Market Report Study

• Electrotherapy Devices providers
• Research organizations and consulting companies
• Electrotherapy Devices related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and traders dealing in electrotherapy devices
• Various end-users who want to know more about the electrotherapy devices market and the latest technological developments in the electrotherapy devices

Frequently Asked Questions for Electrotherapy Devices:

1. What are Electrotherapy Devices?

The electrotherapy devices include a range of treatment devices using electricity to reduce pain, improve circulation, repair tissues, strengthens muscles, and promote bone growth, leading to improvements in physical functioning.

2. What is the market for Global Electrotherapy Devices?

The global electrotherapy devices market was valued at USD 954.78 million in 2023, growing at a CAGR of 2.79% during the forecast period from 2024 to 2030 to reach USD 1.12 billion by 2030.

3. What are the drivers for the Global Electrotherapy Devices market?

The electrotherapy devices market is witnessing positive market growth owing to the factors such as the increasing prevalence of diabetes, the increasing incidence of spinal injuries and lower back pain, and the rising technological advancements in product development.

4. Who are the key players operating in the Electrotherapy Devices market?

Some of the key market players operating in the electrotherapy devices market include Medtronic, Zynex Medical, Stymco, Omron Healthcare Inc., HMS Medical Systems, EME Physio Division, NEVRO CORP, Boston Scientific Corporation, EMS Handels Gesellschaft mbH, Shenzhen XFT Medical Limited, Enraf-Nonius, MTR+, BTL Corporate, Zimmer MedizinSysteme GmbH, TUR Therapietechnik GmbH, schwa-medico GmbH, EMS Physio Ltd, Chattanooga (DJO, LLC), MTB Devices Limited, Astar and others

5. Which region has the highest share in Electrotherapy Devices Market?

North America is expected to dominate the global electrotherapy devices market. Factors contributing to the growth are the rising prevalence of chronic pain-related disorders and the rising technological advancements related to electrotherapy devices, which are contributing to the growth of the electrotherapy devices market in the North America region.


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