Electrical stimulation devices refer to medical equipment designed to deliver controlled electrical impulses to specific parts of the body for therapeutic purposes. These devices work by transmitting electrical pulses through electrodes placed on the skin or implanted near the target nerve or tissue.
The electrical stimulation devices market consists of sales, by entities (organizations, sole traders and partnerships), of electrical stimulation devices that are used in various medical settings to treat a range of conditions by stimulating nerves, muscles or brain activity. These devices are integral to managing chronic pain, neurological disorders and musculoskeletal conditions, helping patients improve their mobility, reduce pain or restore normal body functions.
The global electrical stimulation devices market was valued at $4,680.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 8.00%.
Economic Growth In Emerging Markets
During the historic period, the electrical stimulation devices market was driven by the strong economic growth in emerging markets. As economies grow, both public and private sectors allocate more funds to healthcare. This increased spending boosts the demand for advanced medical technologies used for pain relief, rehabilitation and neurological treatment. For example, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, in Brazil, gross domestic product (GDP) growth rate in 2022 was 2.90%, representing a change of $53.6 billion over 2021. Further, in India, GDP growth rate in 2022 was 7.00%, representing a change of $193.4 billion over 2021. Therefore, economic growth in emerging markets drove the electrical stimulation devices market.
Advanced Neuromuscular Electrical Stimulation For Improving Circulation And Wound Healing
Major companies in the electrical stimulation devices market are focusing on developing innovative products to enhance circulation and support the healing of chronic wounds. These devices aim to offer a non-invasive, user-friendly solution that improves blood flow and accelerates healing with an advanced design that allows for targeted neuromuscular stimulation, effectively aiding wound care for patients with chronic conditions. For example, in August 2024, Sky Medical Technology, a UK-based innovator in the medical technology sector, developed the geko device, a wearable neuromuscular electrical stimulation (NMES) device aimed at improving blood circulation and promoting wound healing. The device is particularly beneficial for patients with hard-to-heal wounds, such as venous leg ulcers. The geko device is a small, self-adhesive unit that is applied just below the knee, stimulating the common peroneal nerve. It delivers gentle electrical pulses at a rate of one per second, activating calf and foot muscle pumps to enhance venous, arterial and microvascular blood flow.
The global electrical stimulation devices market is concentrated, with large players operating in the market. The top ten competitors in the market made up to 45.78% of the total market in 2023.
Electrical Stimulation Devices Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global electrical stimulation devices market as it emerges from the COVID-19 shut down.
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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 history and forecasts market growth by geography. It places the market within the context of the wider electrical stimulation devices market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by device type, by application and by end user.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the electrical stimulation devices market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by device type, by application and by end user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for electrical stimulation devices providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
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: Medtronic plc; Boston Scientific Corporation; Abbott Laboratories; Koninklijke Philips N.V.; Nevro Corp
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- 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; electrical stimulation devices indicators comparison.
- 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.