About Magnetic Therapy Devices
Magnetic therapy devices are products that use static magnetic fields or electromagnetic fields to interact with the body for various purported health benefits. The magnetic therapy devices market can potentially experience more robust and sustainable growth in the future. It's important to remember that while these devices may offer some benefits, they should not be considered a replacement for conventional medical care or professional medical advice. The magnetic therapy devices market can potentially experience more robust and sustainable growth in the future. It's important to remember that while these devices may offer some benefits, they should not be considered a replacement for conventional medical care or professional medical advice.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The competitive landscape of the magnetic therapy devices market is expected to remain competitive in the coming years, with companies focusing on innovation, expanding into new markets, and generating clinical evidence to support their products. 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.
Bauerfeind (Germany), DJO Global, Inc. (United States), OMRON Healthcare Co., Ltd. (Japan), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Zimmer Biomet (United States), Wujiang Kangfu Medical Instruments Co., Ltd. (China), Neuranics Lab Pvt Ltd (United Kingdom), NuVasive, Inc. (United States) and Aesculap AG (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Arthrex, Inc. (United States), Abbott Laboratories (United States), Wellspect Health (Sweden), OSITO Oxygen Concentrator (China) and ActiPatch (United States).
Segmentation Overview
AMA Research has segmented the market of Global Magnetic Therapy Devices market by Type (Constant Energy Magnets and Pulsed Electro-Magnetic Field Energy), Application (Scalp Acupuncture, Multiple Sclerosis, Arthritis, Pain Management, Bone Fracture Healing, Soft Tissue Injuries and Others) and Region.
On the basis of geography, the market of Magnetic Therapy 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). If we see Market by End User, the sub-segment i.e. Hospitals will boost the Magnetic Therapy Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing geriatric population
Market Growth Drivers:
Growing popularity of alternative healthcare and Growing demand for pain management
Challenges:
Lack of scientific evidence
Restraints:
Stringent Regulation
Opportunities:
Development of comfortable and discreet wearable magnetic therapy devices and Developing new and innovative products
Market Leaders and their expansionary development strategies
In February 2023, Zimmer Biomet announced the acquisition of iBrace Medical, a developer of magnetic resonance imaging (MRI)-compatible orthopedic braces. This acquisition could potentially expand Zimmer Biomet's product portfolio into magnetic therapy devices for pain management.
In December 2023, Neuranics announces launch of new magnetic sensor development kit. The new kit is designed to record the heart’s magnetic activity and transmit it wirelessly via Bluetooth for round-the-clock recording and analysis. The kit will include the company’s magnetic sensor that can identify tiny magnetic signals from the heart muscle, Bluetooth interface, prototype electronics and software for analysis on a laptop and an app for Android mobile phones and tablets.
Key Target Audience
Hospital & Specialty Clinics, Market Research & Consultancy Firm, Potential Investors, Government and Regulatory Bodies, Research & Development Institutes and Others
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.