Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Electrotherapy System Market Overview
Electrotherapy systems are mostly used by athletic trainers and therapists in the management of athletic injuries. This is used in relieving pain, elicit muscle contraction and to manage edema and chronic wound. The system is used in ion-therapy, for stimulating the motor system and in pain management programs. In neuromuscular diseases, electrotherapy is used to support voluntary movement and build muscles through the activation of muscle systems and neuro-facilitation. It is mostly used for pain management for patients who are suffering from chronic pain associated with post-surgical incisions, arthritis, and pains of the back, neck and fractures. This system is also used to increase the production of corticosteroids and vitamin D in the body. It can be used to treat inflammatory conditions associated with orthopedics, bronchitis and certain conditions associated with psoriasis. It uses energy waves of electromagnetic spectrum to create changes in body. It is able to stimulate the intracellular activities in the body that results in fast healing of wounds. Growing demand for chronic treatment methods is anticipated to foster the growth of electrotherapy system market, which is further estimated to propel the growth of the market during the forecast period (2019-2027).
Market Size and Forecast
The electrotherapy system market is anticipated to record a CAGR of 5.36% over the forecast period. The market is segmented by applications into neuromuscular dysfunction, pain management, tissue repair, sports injury treatment, acute and chronic edema, urine and fecal incontinence and iontophoresis out of which pain management segment is expected to capture a significant demand. This is primarily attributed to rising demand for extensive surgical procedures, traumas, and other indications resulting in the rising demand for efficient pain management resources. The market is also segmented on the basis of product into transcutaneous spinal electroanalgesia, transcutaneous electrical nerve stimulation, interferential current therapy, spinal cord stimulation, electro acupuncture, pulsed short wave diathermy, micro current therapy and percutaneous electrical nerve stimulation and by end-users into hospitals, long-term care centers, rehabilitation centers, clinics and others. CLICK TO DOWNLOAD FREE SAMPLE
Growth Drivers
Rise in Spinal Injuries & Adoption of Pain Management Programs
Rise in spiral injuries have resulted in a growing demand for efficient devices capable of minimizing the recovery time. Improper postures and sedentary lifestyle are some of the factors for such injuries. Electrotherapy treatment helps in minimizing the pain with the help of an electrode. Increasing use of innovative technologies in medical field has resulted in removing pain in small period of time. Rising demand for advanced medical equipment is expected to propel the growth of electrotherapy system market around the world.
Dynamic development of biomedical engineering results in new technical solutions applied in creating new medical devices. The devices that are currently used in physical therapies often replace traditional treatment methods. In addition, due to their rare adverse effects, physical methods shorten treatment period, improve the quality of life, and reduce therapy costs.
Growing Incidences of Chronic Diseases
Various alternative treatment options are now available to treat various diseases such as obesity & diabetes. Electrotherapy is one of the methods providing alternative treatment solutions instead of using medications for the same.
Restraints
Low Awareness
The medical field has introduced many advanced treatment options, but these are not still in the knowledge of the people. Further, ineffective reimbursement policies are also negatively impacting the adoption rate of these devices. Such factors are expected to restrain the growth of electrotherapy system market across the globe.
Market Segmentation
Our in-depth analysis of the electrotherapy system market includes the following segments:
By Product
By Application
By End-users
By Region
On the basis of regional analysis, the electrotherapy system market is segmented into five major regions North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America market is anticipated to capture the largest market share in the electrotherapy system market owing to increasing adoption of these system in treating sports injuries.
According to Chartered Society of Physiotherapy, in 2017 there has been an increasement in the number of users of physiotherapy treatment with almost 350,000 people logging in, which had increased by almost 20% in comparison to the previous year, across USA, UK, India, Canada and Australia. With growing demand for chronic diseases treatment, the market of Asia Pacific is expected to observe a substantial growth by 2027.
The electrotherapy system market is further classified on the basis of region as follows:
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