Electrical Stimulation Devices Global Market Report 2023

“Electrical Stimulation Devices Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on electrical stimulation devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for electrical stimulation devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The electrical stimulation devices market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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

• Companies Mentioned: Boston Scientific Corporation; Abbott Laboratories; DJO Global Inc.; BTL Corporate; Nevro Corp.

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

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.

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 electrical stimulation devices market is expected to grow to $10.06 billion in 2027 at a CAGR of 8.9%.

The electrical stimulation devices market consists of sales of implantable electronic stimulation devices, vagus nerve stimulation (VNS) devices and transcutaneous electrical nerve stimulation (TENS) devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods

Electrical stimulation devices are modest electrical devices attached to the skin with electrodes and worn externally by patients used for lowering acute post-operative pain and swelling, treating chronic intractable pain. It is a device use to to emit gentle electrical pulses through the skin useful in treating a variety of nerve and musculoskeletal pain disorders.

North America was the largest region in the electrical stimulation devices market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electrical stimulation devices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of electrical stimulation devices include deep brain stimulation devices, neuromuscular electrical stimulation devices, sacral nerve stimulation devices, spinal cord stimulation devices and others. Deep brain stimulation devices refer to a medical treatment that uses an implanted device to deliver an electrical current to specific areas of the brain, used for the treatment of movement disorders associated with Parkinson's disease (PD), dystonia, essential tremors, and other neurological conditions. These are used for various applications including pain management, neurological & movement disorder management, musculoskeletal disorder management, metabolism, GIT management and others, used by hospitals, ambulatory surgical centers and others.

The increasing prevalence of muscle disorders is expected to propel the growth of the electrical stimulation devices market forward. Muscular disorders are a set of inherited genetic illnesses that produce muscle weakness over time. These muscle disorders may cause weakness or paralysis in the presence of an intact nervous system. Electrical stimulation devices help to reduce muscle weakness, producing a controlled and comfortable muscular contraction using skin electrodes and a portable stimulator. For instance, according to The State of Musculoskeletal Health 2021 report, published by Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, there are over 20 million people in the UK suffering from musculoskeletal disorders such as arthritis. One in three people, with half of those living in pain every day. Therefore, the increasing prevalence of muscle disorders is subsequently propelling the electrical stimulation devices market.

Technological advancements are a key trend gaining popularity in the electrical stimulation market. Major market players are introducing technologically advanced and FDA-approved electrical stimulation devices for better treatment of patients. For instance, in August 2022, Abbott Laboratories, a US-based medical device company operating in electrical stimulation devices, announced that US FDA had approved Proclaim Plus, a new technologically advanced spinal cord stimulation device based on FlexBurst360 therapy. It is a next generation of BurstDR stimulation therapy that provides broader myotomal coverage at lower amplitudes than single-area stimulation individualized pain relief for various painful disorders and expands the range of available therapies.

In March 2021, Bioventus, a US-based medical device company, acquired Bioness Inc. for $110 million. Through this acquisition, Bioness became a wholly-owned subsidiary of Bioventus. It also aims to cover the complete Bioness product portfolio and the company's future Research and development plans. Bioness Inc. is a US-based neuromodulation and rehabilitation medical device company operating in the electric stimulation devices market.

The countries covered in the electrical stimulation devices market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The electrical stimulation devices market research report is one of a series of new reports from The Business Research Company that provides electrical stimulation devices market statistics, including electrical stimulation devices industry global market size, regional shares, competitors with an electrical stimulation devices market share, detailed electrical stimulation devices market segments, market trends and opportunities, and any further data you may need to thrive in the electrical stimulation devices industry. This electrical stimulation devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.