The Electrical Stimulation Devices market studied is anticipated to grow with a CAGR of 9.5%, during the forecast period. The major factors attributing to the growth of the electrical stimulation devices market are the growing incidence of spinal injury triggered by accidents, violence or falling anticipated to boost the demand for spinal surgery, which is assessed to upsurge the market growth for electrical stimulation devices. As per the NINDS (NATIONAL INSTITUTE OF NEUROLOGICAL DISORDERS AND STROKES) 2019 factsheet, there are around 12,000 estimated spinal cord injuries in the United States each year.
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Falls are the world’s second primary cause of unintentional or accidental fatalities from injuries. According to the WHO (WORLD HEALTH ORGANIZATION) 2018 data every year there are 37.3 million cases that are serious enough to require medical care and around 646,000 people die globally each year from falls which are expected to further boost the demand for electrical stimulation devices for treatment.
Scope of the Report
Electrical stimulation (ES) treatment requires the use of electrodes for the transmission of electrical current to affected areas of the body. ES is used for comforting and contraction in the neuromuscular and wound healing. Basically, electrical stimulators are being used to treat muscle spasms as a result of wounds or neurological ailments.
Key Market Trends
Pain Management is Expected to Hold the Largest Market Share in the Electrical Stimulation Devices Market
– Dominant share is retained by the pain management segment owing to the attributes such as the strong prevalence of chronic pain ailments and increased use of products to manage pain owing to their high therapeutic benefits.
– Chronic pain is among the world’s leading causes of suffering and injury, and a prominent indication of both AIDS/HIV and cancer.
– As per the statistics from the American Academy of Pain Medicine 2018, around 126 million individuals experienced pain in the US. It is known that chronic pain affects more than 1.5 billion people worldwide.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall electrical stimulation devices market, throughout the forecast period. This is owing to factors such as the rising prevalence of chronic disorders. An estimated 45 percent or about 33 million Americans were diagnosed with at least one chronic disease, according to the National Center for Biotechnology Information (NCBI), March 2018. According to 2016 figures from CDC (Centers for Disease Control and Prevention), 50 million U.S. citizens, or just over 20 percent of adults, are dealing with chronic pain which is further expected to upsurge the demand of stimulator devices in coming years.
The electrical stimulation devices market is moderately competitive and consists of a few major players. In terms of market share, the market is currently dominated by a few of the major players. Some leading players are making intensive investments and launching new products with the other organizations to expand their global market positions. Some of the companies which are currently dominating the market are Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, BTL Corporate, and DJO Global, Inc.
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– Medtronic plc
– Boston Scientific Corporation
– Abbott Laboratories
– DJO Global, Inc.
– BTL Corporate
– Nevro Corp.
– NeuroMetrix, Inc.
– Zynex Medical
– Cogentix Medical
– BioMedical Life Systems
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Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 The Increase in the Incidence of Chronic Diseases, Neurological Disorders and Spinal Injuries
4.2.2 Deskbound Ways of life that lead to Chronic Health Issues
4.3 Market Restraints
4.3.1 Stringent Regulation for Device Approval
4.3.2 Availability of Wide Range of Alternatives for Electrical Stimulation Systems
4.4 Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Deep Brain Stimulation Devices
5.1.2 Spinal Cord Stimulation Devices
5.1.3 Sacral Nerve Stimulation Devices
5.1.4 Vagus Nerve Stimulation Devices
5.1.5 Neuromuscular Electrical Stimulation Devices
5.1.6 Other Electrical Stimulation Devices
5.2 By Application
5.2.1 Musculoskeletal Disorder Management
5.2.2 Pain Management
5.2.3 Metabolism & GIT Management
5.2.4 Neurological and Movement Disorder Management
5.2.5 Incontinence Management
5.3 By End User
5.3.2 Ambulatory Surgical Centers
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.3 Asia Pacific
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