Electrotherapy Market Expected to Reach $1.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Electrotherapy Market,". The global electrotherapy market size was valued at $979.0 million in 2021, and is projected to reach $1,636.4 million by 2031, registering a CAGR of 5.3% from 2022 to 2031. Electrotherapy includes a range of treatments using electrical currents to reduce pain and improve blood circulation. It repairs tissues, strengthens muscles, and promotes bone growth, leading to improvement in physical functioning. Different types of electrotherapies such as transcutaneous electrical nerve stimulation, therapeutic ultrasound, electrical muscle stimulation, percutaneous electrical nerve stimulation (PENS) and interferential current (IC) therapy are used to treat chronic pain.

Factors that drive growth of the electrotherapy market size include rise in number of electrotherapy industry that manufacture electrotherapy devices, in technological advancement in healthcare sector, and increase in number of medical device manufacturing company. For instance, some of the key industry players operating in the electrotherapy market include Abbott, AliMed, Colfax, EMS Physio Ltd, HMS Medical system, Medtronic, OMRON Healthcare, Palex Medical, Skin Inc., and Zynex Medical. Moreover, rise in prevalence of sport injuries, orthopedic disorders, and other pain-associated disorders drives the demand for treatment through electrotherapy, thereby driving the electrotherapy market trends. According to the Centers for Disease Control and Prevention, (d it was reported that, by 2040, an estimated 78 million (26%) US adults aged 18 years or older are projected to have doctor-diagnosed arthritis. Thus, such rise in prevalence of orthopedic disorders is likely to raise the need for electrotherapy, thereby driving the market growth. Moreover, rise in adoption of non-invasive procedure for treatment of chronic pain drives the growth of electrotherapy market.  According to the Journal of devices, in, around 654⋅1 million individuals (40 years and older) were diagnosed with chronic pain in 2020, across the globe.

In addition, rise in number of product launch & approvals related to electrotherapy is anticipated to fuel the electrotherapy market analysis. For instance, in January 2022, Medtronic Plc., a global leader in healthcare technology, announced the approval from the U.S. FDA for Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator for the treatment of chronic pain associated with DPN. Moreover, rise in geriatric population, which is more susceptible to fall injuries & orthopedic disorders, is anticipated to surge the prevalence of chronic pain. This factor fuels the demand for electrotherapy, thereby driving the market growth. According to the World Health Organization’s (WHO’s) estimates of October 2021, 1 in 6 people across the globe will be aged 60 years or over by 2030. Henceforth, increase in geriatric population is anticipated to raise the electrotherapy procedures, thereby contributing to the market growth.

On the basis of type, the market is classified into transcutaneous electrical nerve stimulation, therapeutic ultrasound, and others. Others segment include electrical muscle stimulation, therapeutic ultrasound and interferential current (IC) therapy. The transcutaneous electrical nerve stimulation segment dominated the market in 2021, and is expected to continue this trend during the electrotherapy market forecast period, owing to rise in prevalence of osteoarthritis & diabetes, increase in number of product launch & approvals related to electrotherapy.

By application, the market is classified into pain management, anxiety & insomnia management, sports medicine, and others. Pain management segment is divided into back pain and neck pain. Others segment include veterinary pain management, aesthetics, and face lifting & toning. The pain management segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in prevalence of back & neck pain and technological advancement related to pain management in healthcare sector.

As per end user, the market is bifurcated into hospitals & clinics and rehabilitation centers. The hospitals & clinics segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in number of hospitals, increase in expenditure by government to develop healthcare infrastructure, and rise in number of chronic diseases.

Region wise, North America accounted for a majority of the electrotherapy market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to increase in number of product launch of electrotherapy device, rise in number of product approvals for electrotherapy technological advancement in the healthcare sector, and rise in prevalence of chronic diseases in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to growth in expenditure by government organizations to develop healthcare sector, increase in prevalence of chronic diseases, and rise in the number of electrotherapy industry that manufacture electrotherapy devices.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global electrotherapy market share as the pandemic has stressed healthcare systems across the globe. Huge number of clinics & hospitals across the globe were restructured to increase the hospital capacity for the COVID-19 patients. Most of the non-emergency and minor procedures got canceled or postponed during pandemic. Moreover, COVID-19 pandemic caused disruption in consultation for diseases such as orthopedic disorders & diabetes, and for chronic pain. Thu, this factor restrained the demand for electrotherapy procedures as well as their devices. In addition, disruption in supply chain of medical devices due to lockdown rules hindered the market growth. Moreover, decline in the number of consultations of geriatric population, as geriatric population was more susceptible to COVID-19 infection attributed to restrain the growth of electrotherapy market.

Key Findings of The Study

• Based on type, the transcutaneous electrical nerve stimulation segment was the highest contributor to the market in 2021.
• As per application, the pain management segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• By end user, the hospitals & clinics segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
• According to region, North America garnered the largest market share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.