Electrical Stimulators Market Analysis

Electrical Stimulators Market Analysis

To get key market trends

  Download Free Sample

The market by product is categorized into transcutaneous electrical nerve stimulator, neuromuscular electric stimulator, deep brain stimulation devices, spinal cord stimulator, and other products. The deep brain stimulation devices segment held a substantial revenue share in the electrical stimulators market, accounting for 32.5% in 2023.
 

• Deep brain stimulation is applicable across a range of neurological conditions, making it a versatile intervention. Its use extends beyond Parkinson’s disease to manage other conditions such as movement disorders, obsessive-compulsive disorder (OCD), essential tremors, and epilepsy.
   
• Furthermore, ongoing studies to explore the applications of DBS in other neurological and cerebral conditions is driving the growth of this segment.
   

Based on applications, the market unfolds into distinctive domains such as physiotherapy /pain management, aesthetics, and neuromodulation. The physiotherapy/pain management segment dominated the market with 45.2% market share in 2023 and is projected to reach USD 4.1 billion by the end of 2032.
 

• Electrical stimulators offer versatility in addressing various types of pain, including neuropathic pain, musculoskeletal pain, and inflammatory pain.
   
• Physiotherapy professionals can tailor the use of electrical stimulators to different pain conditions. High scope for customization is one of the major factors boosting the success rate, and adoption of these devices.
   
• Additionally, the growth of this segment is driven by demand-side factors such as high prevalence of chronic pain conditions, versatility in pain management, and the clinical expertise of physiotherapy professionals.
   

Based on end-use, the market unfolds its segmentation, encompassing the domains of hospitals, clinics, home care, and other end-users. The hospital segment accounted for a substantial market share of 45.9% in the global electrical stimulators industry.
 

• Hospitals are the primary end-users in the electrical stimulators market due to their pivotal role in comprehensive healthcare delivery and skills and infrastructure required in deep brain stimulation procedures.
   
• With a diverse range of medical specialties and clinical expertise, hospitals are well-equipped to diagnose and address a broad spectrum of medical conditions.
   
• Furthermore, the versatility of electrical stimulators makes them valuable in treating various health issues, such as neurological disorders, musculoskeletal conditions, chronic pain, and rehabilitation needs.
   
• Therefore, these factors are expected to be substantial contributors to the market’s growth.
   

U.S. market accounted for USD 980.5 million revenue size in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• The prevalence of chronic conditions such as chronic pain, neurological disorders, and musculoskeletal issues is on the rise in U.S. Electrical stimulators are effective in managing these conditions, leading to increased demand in the region.
   
• In U.S., a large population follows sedentary lifestyle leading to muscle atrophy.  According to the Centers for Disease Control and Prevention (CDC), in 2020, around 15% of US adults were physically inactive.
   
• These factors collectively aid in increasing the market share of U.S. in global electrical stimulators industry.