Global Electrotherapy Market information, by type (Extracorporeal Shock Wave Therapy, Interferential, Magnetic Field Therapy, Ultrasound Therapy, Transcutaneous Electrical Nerve Stimulation (TENS) Therapy and others), by Devices (Transcutaneous Electrical Neural Stimulator (TENS), Electronic Muscle Stimulator (EMS), Interferential Stimulator (IF), High Voltage Pulsed Galvanic Stimulator (HVPGS), Microcurrent Stimulator (MC) or Microcurrent Electrical Neuromuscular Stimulator (MENS), and others), by Application (orthopedics, cardiology, urology, Pain management, Acute and Chronic Edema, and others) – Forecast to 2023
The global electrotherapy market has been evaluated as steadily growing market and it is expected that the market will continue to grow similarly in the near future. Increasing demand for advanced therapies, growing use of electrotherapy in pain management are some of the major factors driving the growth of the market. Moreover, increasing adoption of electrotherapy in sports and fitness industry is another factor boosted the growth of global electrotherapy market. The market for electrotherapy was around US$ 839.0 million in 2016 and is expected to reach US$ 1,119.1 million which is projected to grow at a CAGR of 4.2% by 2023.
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Major Players in Electrotherapy Market:
There are plenty of large and small market players which operate in this market: BTL (Czech Republic), Eme srl (Italy), EMS Physio Ltd. (UK), Enraf-Nonius B.V.(Netherlands), gbo Medizintechnik AG (Germany), MEDTRONIC (Republic of Ireland), Omron Healthcare, Inc.(US), Phoenix Healthcare (UK), Pure Care (US), STYMCO Technologies, LLC (US), Walgreen Co. (US), and others.
Growing demand for electrotherapy devices are leads to an increasing competitions within global electrotherapy market. Major devices manufacturers are investing money in R&D to develop advanced and innovative product for the market. Major players are holding large piece of the market share while medium and small manufacturers are captured small but major piece of the global electrotherapy market. The device manufacturers are getting into tie-ups with hospitals to provide better product and services to the consumers. Companies adopting new technologies to meet customer need the electrotherapy market is one of the growing market and attracting many players towards it. The market for electrotherapy in emerging economies is rising and most of major players are focusing on these regions.
Considering the global scenario of the electrotherapy market, North America is holding largest market share in global electrotherapy market in 2016. While the European market is second largest market and Western Europe region is the growing with the fastest rate and accounts largest share in European market. Due to rising healthcare expenditure and increasing awareness for the new products and therapies, Asia-Pacific region will be fastest growing market for electrotherapy during the forecast period. Middle East and Africa is expected to grow at steady pace during the forecast period.
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Global Electrotherapy Market has been segmented on the basis of type which comprise Extracorporeal Shock Wave Therapy, Interferential, Magnetic Field Therapy (Constant Energy Magnets, Pulsed Electro-Magnetic Field Energy), Ultrasound Therapy, Transcutaneous Electrical Nerve Stimulation (TENS) Therapy (Conventional TENS, Acupuncture-like TENS (AL-TENS), Intense TENS), and others. On the basis of devices, it segmented into Transcutaneous Electrical Neural Stimulator (TENS), Electronic Muscle Stimulator (EMS), Interferential Stimulator (IF), High Voltage Pulsed Galvanic Stimulator (HVPGS), Microcurrent Stimulator (MC) or Microcurrent Electrical Neuromuscular Stimulator (MENS), and others. On the basis of application, it segmented into orthopedics, cardiology, urology, pain management (chronic pain, chronic fatigue, Migraine headaches, Wound healing, Diabetic nerve pain, Stimulating bone growth), acute and chronic edema, and others.
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