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Electrical Stimulators Market Share

Report ID: GMI7752
Published Date: Dec 2023
Report Format: PDF

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Electrical Stimulators Market Share

The electrical stimulators industry is consolidated, with key players including Medtronic plc, Boston Scientific Corporation, and Abbott Laboratories majorly dominating the market. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial market shares. For instance, in August 2023, Medtronic received CE (Conformité Européenne) Mark approval for its Inceptiv spinal cord stimulator, featuring closed-loop sensing technology for the treatment of chronic pain. This stimulator stands as a first Medtronic SCS device incorporating a closed-loop feature that senses each person's unique biological signals and adjusts stimulation moment to moment as per the requirement. This innovative capability allowed the company to deliver device catering personalized care. The approval of this product enhanced the company’s competitive positioning in Europe.

Electrical Stimulators Market Companies

Some of the eminent market participants operating in the electrical stimulators industry include:

Medtronic plc
Boston Scientific Corporation
Abbott Laboratories
BTL Corporate
Zynex, Inc.
HMS Medical Systems
OMRON Corporation
BioMedical Life Systems
HASOMED GmbH
Saluda Medical Pty Ltd

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global market size for electrical stimulators was valued at USD 3.8 billion in 2023 and is estimated to reach USD 8.8 billion by 2032 as they are medical devices that deliver controlled electrical impulses to specific nerves or muscles in the body.

The physiotherapy/pain management segment held a 45.2% market share in 2023 and is projected to reach USD 4.1 billion by 2032 owing to the high scope for customization which is boosting the success rate and adoption of these devices.

The U.S. electrical stimulators market accounted for USD 980.5 million in 2023 and is predicted to witness substantial growth through 2032 attributed to the prevalence of chronic conditions such as chronic pain, neurological disorders, and musculoskeletal issues.The U.S. electrical stimulators market accounted for USD 980.5 million in 2023 and is predicted to witness substantial growth through 2032 attributed to the prevalence of chronic conditions such as chronic pain, neurological disorders, and musculoskeletal issues.

Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, BTL Corporate, Zynex, Inc., HMS Medical Systems, OMRON Corporation, BioMedical Life Systems, HASOMED GmbH, and Saluda Medical Pty Ltd.