Global Electrical Stimulation Devices Market
Medical Equipment

How Will The Electrical Stimulation Devices Market Globally Expand In 2023?

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s electrical stimulation devices market report forecasts the electrical stimulation devices market size to grow to $10.06 Billion by 2027, with a CAGR (compound annual growth rate) of almost 9%.

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Electrical Stimulation Devices Market Size Forecast
The global electrical stimulation devices market is expected to grow from $6.53 billion in 2022 to $7.14 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global electrical stimulation devices market size is expected to grow to $10.06 billion in 2027 at a CAGR of 8.9%.

North America held the largest electrical stimulation devices market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Electrical Stimulation Devices Market Driver ­– Increase In The Prevalence Of Muscle Disorders
According to Versus Arthritis, a UK-based charity committed to assisting people with arthritis, there are over 20 million people in the UK suffering from musculoskeletal illnesses such as arthritis, according to The State of Musculoskeletal Health 2021 study. One in every three people suffers from chronic pain, with half of them experiencing it on a daily basis. As a result, the growing occurrence of muscular ailments is boosting the electrical stimulation devices market.

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Key Electrical Stimulation Devices Market Trend – Technological Advancement
For better patient treatment, major market participants are launching technologically advanced and FDA-approved electrical stimulation devices. For example, Abbott Laboratories, a US-based medical device company that specialises in electrical stimulation devices, said in August 2022 that the US Food and Drug Administration had authorised Proclaim Plus, a new technologically sophisticated spinal cord stimulation device based on FlexBurst360 therapy. It is the next generation of BurstDR stimulation therapy, offering larger myotomal coverage at lower amplitudes than single-area stimulation, individualised pain alleviation for a variety of painful diseases, and broadening the range of possible therapies.

Electrical Stimulation Devices Market Segment
1) By Device Type: Deep Brain Stimulation Devices, Neuromuscular Electrical Stimulation Devices, Sacral Nerve Stimulation Devices, Spinal Cord Stimulation Devices, Other Devices
2) By Application: Pain Management, Neurological & Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Other Applications
3) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users

Electrical Stimulation Devices Market Major Players and Strategies
Major players in the electrical stimulation devices market are Boston Scientific Corporation, Abbott Laboratories, DJO Global Inc., BTL Corporate, Nevro Corp., NeuroMetrix Inc., Zynex Inc., BioMedical Life Systems, RS Medical, Biotronik Inc., CU Medical System Inc., Beijing Pins Medical Co.Ltd, MicroPort Scientific Corporation, Koninklijke Philips N.V, Bioinduction Ltd, and Soterix Medical Inc.

Bioventus, a medical device firm based in the United States, paid $110 million for Bioness Inc. in March 2021. Bioness became a wholly-owned subsidiary of Bioventus as a result of this transaction. It also intends to encompass the whole Bioness product portfolio as well as the company’s future R&D initiatives. Bioness Inc. is a neuromodulation and rehabilitation medical device firm established in the United States that specialises in electric stimulation devices.

The Electrical Stimulation Devices Global Market Report 2023 covers regional data on electrical stimulation devices market size, electrical stimulation devices market trends and drivers, opportunities, strategies, and electrical stimulation devices market competitor analysis. The countries covered in the electrical stimulation devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Electrical stimulation devices are small electrical devices that are linked to the skin with electrodes and worn by patients to reduce immediate post-operative pain and edoema as well as treat chronic intractable pain. It is a device that emits modest electrical pulses via the skin and is used to treat a number of nerve and musculoskeletal pain conditions.

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