About Electrical Stimulation Devices
Electrical stimulators are small electronic devices that are worn externally by a patient and affixed to the skin by way of electrodes. Electrical stimulators may be used for a variety of purposes including reducing acute post-operative pain and swelling, treating chronic intractable pain, maintaining muscle tone during temporary extremity immobilization, reducing spasticity, and assisting spinal cord injured patients to grasp, stand, and walk independently. The rising prevalence of chronic diseases is primarily augmenting the growth of the electrical stimulation devices (ESDs) market. Additionally, a massive rise in diabetes is predicted in the next few years, which is creating a need for advanced and effective drugs or treatments. This is one of the major factors fuelling the growth of the electrical stimulation devices (ESDs) market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Unit | Value (USD Million) |
CAGR | 9.4% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electrical Stimulation Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott (United States), Boston Scientific Corporation (United States), Medtronic (United States), BTL (United States), Cyberonics (United States), DJO Global (United States), NeuroMetrix (United States), Uroplasty (United States) and Zynex (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Electrical Stimulation Devices market by Type (Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, Vagus Nerve Stimulation Devices, Sacral Nerve Stimulation Devices, Gastric Electric Stimulation Devices, Transcutaneous electrical nerve Stimulation Devices, Neuromuscular Electrical Stimulation Devices, Cranial Electrical Stimulation Device and Other Electrical Stimulation Devices), Application (Pain Management, Neurological and Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Incontinence Management and Others) and Region.
On the basis of geography, the market of Electrical Stimulation Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2023. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Electrical Stimulation Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Product Launch
Market Growth Drivers:
Increasing Incidence of Spinal Injuries and Rising Geriatric Population Globally
Challenges:
Intense Competition among Competitor
Restraints:
Stringent Regulation for Device Approval and Availability of Wide Range of Alternatives for Electrical Stimulation Systems
Opportunities:
Increasing Chronic Pain among the Individuals, Rising R & D from Manufacturers and Growing Demand from Emerging Market
Market Leaders and their expansionary development strategies
In September 2023, Boston Scientific Corporation it has acquire Relievant Medsystems, Inc., a privately held medical technology company that has developed and commercialized the Intracept® Intraosseous Nerve Ablation System to treat vertebrogenic pain, a form of chronic low back pain.
In December 2022, Abbott the U.S. Food and Drug Administration (FDA) approval of the company's Eterna™ spinal cord stimulation (SCS) system – the smallest implantable, rechargeable spinal cord stimulator currently available on the market for the treatment of chronic pain. Eterna SCS utilizes Abbott's proprietary low-dose BurstDR™ stimulation, the only SCS waveform technology with the highest level of clinical evidence (1A evidence), proven to reduce pain 23% more than traditional waveform technology approaches.
Federal regulators have issued a ban on the use of electrical stimulation devices to stop aversive behavior among individuals with mental disabilities, which was a practice at the Judge Rotenberg Educational Center in Canton, Massachusetts.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Electrical Stimulation Devices Manufacturer, Electrical Stimulation Devicess Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.