Market Research Report
Global PEMF Devices Market - 2020-2027
|Global PEMF Devices Market - 2020-2027|
Published: February 24, 2021
Content info: 180 Pages
Delivery time: 2 business days
PEMF (Pulsed electromagnetic field) therapy uses pulsating magnetic fields and is applied using PEMF devices. The electromagnetic exchange between cells. Nothing happens in the body without an electromagnetic exchange between cells. Natural electromagnetic energy controls our chemistry. PEMF therapy is used to treat cervical osteoarthritis, knee osteoarthritis, and chronic lower back pain. Pulsed electromagnetic field therapy has various applications such as healing wounds, restoring normal potential, reducing swelling, and regenerating tissue regeneration.
The global PEMF therapy device market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
ncrease in incidence of sport injuries during sports and rise in risk of fractures due to falls & road accidents are the factors projected to drive the global pulsed electromagnetic field therapy devices market. Moreover, increase in geriatric population, surge in awareness, and rise in prevalence of nonunion fractures are anticipated to propel the global market.
The rising wellness market coupled with the growing expenditure and acceptance of alternative therapy is the prime mover of the pulsed electromagnetic field therapy devices market. The growing awareness and the complimentary influence of yoga, and alternative therapies is generating a large demand for the pulsed electromagnetic field therapy devices market. The large economic burden coupled with the large prevalence of non-union fractures which account for almost 12 % of the total fracture cases is driving a large adoption of pulsed electromagnetic field therapy devices. The growing geriatric population, increase in risk factors associated with fractures such as accidents, falls, growing sports culture are the demographic drivers of the market. The number of people aged 60 years or older is expected to rise from 900 million to 2 billion between 2015 and 2050, representing a growth from 12% to 22% of the total global population, according to recent World Health Organization report.
The PEMF therapy device market is constrained by the poor experimental validation and the lack of understanding of the mechanism of the bone healing effect achieved by pulsed electromagnetic field therapy. The inconclusive and insufficient evidence coupled with the lack of support from the main line clinical practice professionals has greatly limited the application of the pulsed electromagnetic field therapy devices. Pulsed electromagnetic field therapy devices are approved by the FDA. However pulsed electromagnetic field therapy devices need to be marketed as as wellness products and are restrained from making claims of effectiveness for treatment of diseases, laying them open to criticism as superficial externalities, and pseudoscience.
COVID-19 Impact Analysis
The COVID-19 pandemic has boosted the growth of the PEMF therappy device market, as there are few studies being published that stated the use of PEMF therapy devices for the prevention or treatment of COVID-19. It has become popular post the outbreak of COVID-19 globally. Therefore, a considerable growth in the PEMF therapy devices market value can be expected in 2020.
PEMF therapy device is further segmented on the basis of application which includes bone growth and pain relief.
The pain relief segment dominated the market in 2018 due to rise in prevalence of chronic pain during sports and due to road accidents. In terms of end-user, the market can be divided into hospitals, home care settings, and others.
Low frequency devices accounts majority share in global electromagnetic therapy device market.
Low frequency devices are gaining traction in the market due to its limited side effects and also more affordable as compared with high frequency PEMF therapy devices.Government has some rules and regulations on the usage of this devices with respect of electromagnetic waves and some side effects from these devices like pain, nausea, dizziness etc. can decrease the market growth of high frequency PEMF therapy device market.
Based on geography, the study analyzes the PEMF therapy device market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America dominated the global market in 2018 due to presence of key players and rise in prevalence of sport injuries. According to the U.S. Centers for Disease Control and Prevention (CDC), participation in organized sports is on the rise. More than 3.5 million kids under 14 receive medical treatment for sports injuries each year. The market in Europe is projected to be driven by rise in prevalence of arthritis and injuries. The pulsed electromagnetic field therapy devices market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to increase in number of road accidents, surge in geriatric population, and rise in prevalence of osteoarthritis. Moreover, changing lifestyle, obesity, and aging population are the factors expected to drive the market in the region. According to Ministry of Health and Family Welfare, Government of India, osteoarthritis is the second most common disease in India and is more prevalent in women than men.
The PEMF therapy device market is highly competitive, owing to the presence of big food brands. The key PEMF therapy device players which are contributing to the growth of the global market include Oxford Medical Instruments Health Store, Nuage Health, Orthofix Holdings, Inc., I-Tech Medical Division, Pulsed Energy Technologies LLC, Swiss Bionic Solutions, SEDONA Wellness Ltd., Pulse Centers, and BioBalance, Orthofix Medical Inc., Dolphin Neurostim, BEMER AG, BEIJING (Suzhou) Medical Technology Co., Ltd., Jiangsu Alphay Medical Device Co., Ltd., Guangdong Owgels Technology Co., Ltd., Shenzhen Guangyang Zhongkang Technology Co., Limited, Wuhan Yuanguang Ruikang Technology Co., Ltd., among others. The major players are adopting new product launch and expansion strategies for global growth in the PEMF therapy device market.
Orthofix Medical, Inc. engages in the provision of medical devices. It operates through the following business segments: Global Spine and Global Extremities. The Global Spine reporting segment offers three primary product categories: Bone Growth Therapies, Spinal Implants, and Biologics. The Bone Growth Therapies product category manufactures, distributes, and provides support services of bone growth stimulator devices that enhance bone fusion. The Spinal Implants product category designs, develops, and markets a broad portfolio of motion preservation and fixation implant products used in surgical procedures of the spine. The Biologics product category provides a portfolio of regenerative products and tissue forms that allow physicians to treat a variety of spinal and orthopedic conditions. The Global Extremities reporting segment offers products and solutions that allow physicians to successfully treat a variety of orthopedic conditions unrelated to the spine. The company was founded on October 19, 1987 and is headquartered in Lewisville, TX.
Product Portfolio: The Company's portfolio comprises bone growth therapies products and biological products.
The global PEMF therapy device market report would provide access to an approx. 57 market data table, 57 figures and 250 pages.