Electrotherapy Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The electrotherapy devices market studied was projected to grow with a CAGR of nearly 4.2% over the forecast period. The major factor attributing to the growth of the market is the increase in the prevalence of spine injuries and back pain. Furthermore, injuries due to sports are increasing, boosting the use of electrotherapy devices. According to Spinal Cord Injury Information Pages, as of 2019, 17,730 new spinal cord injury (SCI) cases occur each year and between 249,000 and 363,000 people are currently living with SCI in the United States. However, lack of awareness of the treatment constraints the market growth.

Key Market Trends

High Frequency Segment is Dominating the Electrotherapy Devices Market

With the application of high frequency electrotherapy the heating up of deep seated tissues is attained, which achieves elimination of harmful substances, pain relief, and muscle relaxation. High frequency electrotherapy is majorly used in and this maintains the dominant share of the segment in the market growth. Furthermore, the increasing prevalence of diseases like nervous disease, muscle injury, inflammation, pain, increasing injuries during sports etc, is boosting the market growth. According to the National Safety Council (NSC), in 2017 individual exercise, with or without exercise equipment, accounted for some 526,000 injuries in 2017, the highest of any category of sports and recreation. As per the statistics, the large number of injuries and other diseases which can be treated by electrotherapy is increasing and ultimately the segment growth.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of muscle injury, pain in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and increase in number of research partnerships are some of the drivers expected to increase the market growth. According to the Stanford Children's Health, in the United States, nearly 30 million children and teens participate in some form of organised sports, and more than 3.5 million injuries each year. As per the statistics the the increasing patient pool and increasing disposable revenue in this country boosts the market growth of the region.

Competitive Landscape

The electrotherapy devices market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Omron Healthcare, Eme srl, STYMCO Technologies, Zynex Medical, Johari Digital, DJO Global, Inc., ASTAR , GymnaUniphy, Enraf-Nonius B.V.

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