Functional Electrical Stimulation (FES) Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Functional Electrical Stimulation (FES) Devices Market By Product Type (Wired Devices And Wireless Devices), By Indication (Neurological Disorders, Pain Management, Musculoskeletal Disorders, And Others), By End-User (Hospitals & Clinics, Ambulatory Surgical Centers, And Others), by geography, is projected to grow at a noteworthy CAGR forecast till 2030 owing to the rising prevalence of musculoskeletal disorders and technological innovation in product development

The Global Functional Electrical Stimulation Devices Market will grow at a CAGR of 8.2% during the forecast period from 2024 to 2030. The increase in demand for Functional Electrical Stimulation (FES) Devices is primarily due to the rising prevalence of musculoskeletal disorders across the globe. Moreover, the rising importance of pain management therapies and technological innovation in product development is anticipated to fuel the FES market in the upcoming years.

Functional Electrical Stimulation (FES) Devices Market Dynamics:

The market for functional electrical stimulation (FES) devices is gaining propulsion at present owing to the growing burden of musculoskeletal disorders among the population across the globe. This is because FES devices stimulate muscles mobility and strengthen muscle activity, reduce muscle spasticity, facilitate initiation of muscle activity, and also provide a memory of movement. For instance, as per the data published by the World Health Organization (WHO) in the year 2023, a total of 1.71 billion people were suffering from musculoskeletal conditions across the world in the year 2020.

In addition, as per the Gov.UK 2020, in the year 2020, the percentage of people aged 18 and above who reported musculoskeletal condition, either long-term back pain or long-term joint pain was reported to be 18.5% in the United Kingdom. Also, the data mentioned that males remained less likely to report a long-term musculoskeletal problem than females (15.9% and 20.9% respectively) in the United Kingdom in the year 2020. Similar trends are likely to be observed in other countries around the world which are expected to increase the demand for FES devices thereby augmenting the global FES market.

Moreover, key market expansion activities by the key manufacturers actively developing FES devices to provide breakthrough rehabilitative care among the target population could also be a potential factor contributing to the growth of the FES market during the upcoming years. For instance, in December 2017, Ekso Bionics® partnered with HASOMED to launch functional electrical stimulation (FES) for the EksoGT(TM) Exoskeleton.

Thus, the interplay of all the above-mentioned factors is expected to boost the global FES devices market during the forecasted period.

However, the risk associated with functional electrical stimulation devices as well as the high cost of these devices is likely to impede the market growth.

The unprecedented COVID-19 outbreak had a profound impact on the market for functional electrical stimulation (FES) devices. Owing to the lockdown restrictions posed during the COVID-19 pandemic, there were reduced patient visits and all other surgical procedures were temporarily paused, giving more attention to the COVID-19 inflicted patients. However, after the relaxation given in terms of lockdown restrictions and the re-opening of manufacturing facilities, the FES devices market is regaining normalcy.

Functional Electrical Stimulation (FES) Devices Market Segment Analysis:

Functional Electrical Stimulation (FES) Devices Market By Product Type (Wired Devices and Wireless Devices), By Indication (Neurological Disorders, Pain Management, Musculoskeletal Disorders, and Others), By End-User (Hospitals & Clinics, Ambulatory Surgical Centers, and Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Functional Electrical Stimulation (FES) Devices indication segment, the neurological disorders segment is anticipated to hold a significant share during the forecasted period. Neurological disorders such as multiple sclerosis, strokes, among others are likely to increase the demand for FES devices. This is because FES devices are used as a treatment that involves the application of mild electrical pulses to stimulate muscles. In patients with multiple sclerosis, FES provides an external signal that makes muscle movement better. Thus, the rising target population across the globe is likely to augment the market for FES devices. For instance, according to the data published by the MS International Federation in the year 2020, approximately 2.8 million people were living with MS worldwide.

Moreover, various R&D and clinical trials conducted by companies and research universities to study the effectiveness of FES devices in stroke rehabilitation could also upsurge the market for FES devices. For instance, Intento SA, initiated a clinical trial to study the efficacy of "Self-modulated Functional Electrical Stimulation in Chronic Stroke Patients with Severe and Moderate Upper Limb Paresis (SM-FES)" in the year 2019. The trial is expected to get complete by December 2022.

Thus, the above-mentioned factors are expected to increase the demand for FES devices for neurological disorders in the forthcoming years.

North America To Dominate the Functional Electrical Stimulation (FES) Devices Market:

Among all the regions, North America is anticipated to dominate the Functional Electrical Stimulation (FES) Devices market during the forecasted period. This is owing to the rising prevalence of the targeted population such as stroke, cerebral palsy, and musculoskeletal disorders, among others. Additionally, the rising obese population in the region could also increase the risk of developing musculoskeletal disorders as well as stroke among the population, leading to an increased demand for FES devices in the upcoming years. Moreover, the presence of key players in the region is one of the factors projected to drive the regional FES market.

Further, in the US, as per the data provided by the U.S Bureau of Labor Statistics 2018, about 272,780 people were suffering from musculoskeletal disorders in the United States private sector. Thus, owing to a rise in musculoskeletal disorders, there will be an increase in the demand for functional electrical stimulation leading to an overall rise in the functional electrical stimulation market.

Moreover, growing cases of chronic pain among the US population could also raise the demand for FES devices thereby bolstering the market. For instance, as per the data published by the Centers for Disease Control and Prevention (CDC) in the year 2020, approximately, 20.4% of adults had chronic pain and 7.4% of adults had chronic pain that frequently limited life or work activities in the US in the year 2019.

In addition, certain strategies like merger & acquisition, getting FDA approval, and new product launches by the manufacturers to maintain their position in the market will also contribute to the regional market growth of FES devices. For instance, on September 21, 2020, Medline Industries, LP received FDA approval for Medline DeNovo 4Pro Electrical Stimulation Device intended to be used for muscle stimulation for urinary incontinence treatment, pain management, muscle strengthening, and training. The device is a TENS (Transcutaneous Electrical Nerve Stimulator), ETS (Electrical Muscle Stimulator), and NMES (Neuromuscular Electrical Stimulator also known as STIM) including FES (Functional Electrical Stimulation) with EMG biofeedback.

Hence, all the aforementioned factors are likely to spur the regional market for FES devices in the forthcoming years.

Functional Electrical Stimulation (FES) Devices Market Key Companies:

Some of the key market players operating in the Functional Electrical Stimulation Devices market include HASOMED GmbH, Restorative Therapies, Bioness Inc., Trulife, Otto Bock, Odstock Medical Limited, Hobbs Rehabilitation, MotoMed, Medline Industries, LP, g.tec medical engineering GmbH, and others.

Recent Developmental Activities in the Functional Electrical Stimulation Devices Market:

On October 29, 2020, g.tec medical engineering GmbH received FDA approval for g.Estim FES, neuromuscular electronic stimulator indicated for use under medical supervision for adjunctive therapy in the treatment of medical diseases and conditions.

On March 04, 2020, Bioness Inc. received FDA approval for L100 Go System intended to provide ankle dorsiflexion in adults with foot drop or muscle weakness related to upper motor neuron disease/injury (e.g., stroke, damage to pathways to the spinal cord).

Key Takeaways from the Functional Electrical Stimulation Devices Market Report Study

Market size analysis for current market size (2023), and market forecast for 5 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 Functional Electrical Stimulation (FES) Devices market.

Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years

Key companies dominating the Global Functional Electrical Stimulation (FES) Devices Market.

Various opportunities available for the other competitor in the Functional Electrical Stimulation (FES) 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 market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Functional Electrical Stimulation (FES) Devices market growth in the coming future?

Target Audience who can be benefited from the Functional Electrical Stimulation (FES) Devices Market Report Study

Functional Electrical Stimulation (FES) Devices providers

Research organizations and consulting companies

Functional Electrical Stimulation (FES) Devices-related organization, association, forum, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in Functional Electrical Stimulation (FES) Devices

Various End-users who want to know more about the Functional Electrical Stimulation (FES) Devices Market and the latest technological developments in the Functional Electrical Stimulation (FES) Devices market.

Frequently Asked Questions for the Functional Electrical Stimulation (FES) Devices Market:

1. What are Functional Electrical Stimulation (FES) Devices?

Functional electrical stimulation (FES) is a treatment method in which low-level electrical impulses are applied to nerves or muscles to improve or restore muscle function.

2. What is the market for Global Functional Electrical Stimulation (FES) Devices?

The Global Functional Electrical Stimulation Devices Market will grow at a CAGR of 8.2% during the forecast period from 2024 to 2030.

3. What are the drivers for the Global Functional Electrical Stimulation (FES) Devices?

The major factor driving the demand for Functional Electrical Stimulation (FES) Devices is the rising prevalence of musculoskeletal disorders across the globe. Moreover, the rising importance of pain management therapies and technological innovation in product development is anticipated to fuel the FES market in the upcoming years.

4. What are the key players operating in Global Functional Electrical Stimulation (FES) Devices?

Some of the key market players operating in the Functional Electrical Stimulation (FES) Devices market include HASOMED GmbH, Restorative Therapies, Bioness Inc., Trulife, Otto Bock, Odstock Medical Limited, Hobbs Rehabilitation, MotoMed, Medline Industries, LP, g.tec medical engineering GmbH, and others.

5. Which region has the highest share in the Functional Electrical Stimulation (FES) Devices market?

Among all the regions, North America is anticipated to dominate the Functional Electrical Stimulation (FES) Devices market during the forecasted period. This is owing to the rising prevalence of the targeted population such as stroke, cerebral palsy, and musculoskeletal disorders, among others. Additionally, the rising obese population in the region could also increase the risk of developing musculoskeletal disorders as well as stroke among the population, leading to an increased demand for FES devices in the upcoming years. Moreover, the presence of key players in the region is one of the factors projected to drive the regional FES market.