Electrotherapy Market Overview
The evolution patterns are revised in tandem to the customer likings to realize the greatest growth, and in the long run, viability. The framework for growth plans also has stimulated the market for potential new entrants. The market contenders are making considerable adjustments to minimize the incidence of competitive disadvantage. The market is also well equipped to meet the challenges and keep up with the dynamic growth trends effectively.
The Electrotherapy Market Trends will grow at a CAGR of 4.2% and expected to reach USD 1.11 billion by the end of the forecast period (2017-2023). The electrotherapy market is expected to witness significant growth due to increased inclination of customers towards drug-free methods of treatment and rising awareness about benefits of electrotherapy is anticipated to provide more avenues for growth in the upcoming forecast period. The rise in the acceptance of physiotherapy for treating various ailments has also bolstered the demand for electrotherapy globally. The upsurge in the number of cases related to soft tissue injuries and muscles impairments are increasing the demand for electrotherapy devices.
Electrotherapy Market Segmental Analysis:
The electrotherapy market has been segmented based on
Based on type, the market is segmented into
- Extracorporeal Shock Wave Therapy
- Magnetic Field Therapy (Pulsed Electro-Magnetic Field Energy, Constant Energy Magnets)
- Transcutaneous Electrical Nerve Stimulation (TENS) Therapy (Intense TENS, Conventional TENS, Acupuncture-like TENS (AL-TENS))
- Ultrasound Therapy
The regions covered in the market are Europe, North America, Asia Pacific, Africa, and the Middle East.
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Electrotherapy Market Competitive Analysis:
The electrotherapy market leading companies are Eme srl (Italy), BTL (Czech Republic), EMS Physio Ltd. (UK), Medtronic (Republic of Ireland), Enraf-Nonius B.V.(Netherlands), Pure Care (US), gbo Medizintechnik AG (Germany), Phoenix Healthcare (UK), Omron Healthcare, Inc. (US), Walgreen Co. (US), STYMCO Technologies, LLC (US) and others
Electrotherapy Market Regional Analysis:
The regional analysis of the electrotherapy market comprises of regions such as North America, Europe, Asia Pacific, Africa, and the Middle East. The North American region is the major market for electrotherapy. In the North America region, the US controls a major market share while the European market is the next major region in the market.
The growth rate is relatively higher in west European countries. Conversely, the Asia Pacific region is a rapidly growing market and is anticipated to control the market by the year 2023. The Middle East and African region are expected to have restrained growth in the market owing to a low-level awareness of the devices and treatment.
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The plan formulation process in the market has become significantly easier in which deviations are well accounted for; this approach increases the overall success of these plans in the market. The leadership trends in the market are reinforcing the level of growth that can be achieved in the present market scenario. The alterations seen in terms of strategy execution and creation are altering the development pace of the market.
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