Electrical Stimulation Devices Market Size, Share, Growth, and Industry Analysis, By Type (Stationary Stimulation Devices and Portable Stimulation Devices), By Downstream Industry (Hospital and Clinic) and Regional Forecast to 2032

Updated On: 02 September 2024

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ELECTRICAL STIMULATION DEVICES MARKET REPORT OVERVIEW

The Global Electrical Stimulation Devices Market size was USD 4.922 billion in 2023 and the market is projected to touch USD 7.06 billion by 2032, exhibiting a CAGR of 3.68% during the forecast period.

Electrical stimulation devices include those used to manage chronic pain and neurological disorders whereby electrical impulses are applied to various body parts. The various devices are the TENS machines, the spinal analgesic stimulators and the deep brain stimulators in that they either interfere with the pain signals reaching the brain or facilitate the healing of the nerves. Electrical stimulation treatment is quite effective in patients with such chronic pain symptoms including but not limited to back pain, knee and arm pain, and musculoskeletal disorders such as arthritis and fibromyalgia. Using electrical signals these negative effects can be minimized and the overall pain and mobility can be improved for patients suffering from these diseases that rob people of the enjoyment of life.

Although electrical stimulation devices could have certain advantages, the general quality of evidence for many forms remains weak. These include having limited subject samples, short duration follow-up and inadequate comparison groups in most published studies, thus limiting the conclusions that can be made about their effectiveness. Therefore, although a group of patients may have noted a decrease in pain and an increase in general functionality, such effects are not always reported by the large population groups in trials. Therefore, larger and more clinical trials are required to confirm the therapeutic efficiency of these devices and outcomes in various diseases. This would involve undertaking research with more specific and well-demarcated patient populations and the use of controlled protocols to mitigate effects that might be attributed to placebos and other extraneous factors.

COVID-19 Impact: Pandemic decreased elective surgeries and non-urgent medical procedures restraining the market

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic outbreak has affected the medical industry in various aspects and one of them is that elective procedures are taking place in much fewer numbers than before. This decline has in turn led to a decline in the number of electrical stimulation equipment needed. To reduce the vulnerability of their patients to a pandemic, many healthcare facilities either delayed or eschewed these procedures to focus on emergent pandemic treatments. Hence, there were inevitable delays in the treatment of patients who would otherwise require electrical stimulation for chronic pain and rehabilitation. This has caused an impact not only on the patients whose lives were changed for better or worse but also on the manufacturers and suppliers of these medical devices whose sales and use were drastically reduced.

LATEST TRENDS

"Increasing demand for non-invasive Neuromodulation therapies to drive market growth"

There is a rising emphasis on non-invasive neuromodulation therapies since there are cases of neurological disorders and then chronic pain that can be treated without performing surgeries. Such therapies include Transcranial Magnetic Stimulation (TMS) and Transcutaneous Electrical Nerve Stimulation (TENS), which have trivial drawbacks such as lower possibilities of complications, shorter recovery times and lower costs of healthcare. These options are being sought by patients for conditions such as depression, migraine and chronic pain among others instead of conventional treatments that involve surgeries. This has been fueled by developing knowledge of the utility and efficacy of non-invasive neuromodulation treatment modalities, which allow for the enhancement of the treatment results and patients’ quality of life while minimizing interference with their daily activities. This trend has also been augmented by what is seen as increased technological development of these therapies and enhanced delivery of these therapies in clinical practice.

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ELECTRICAL STIMULATION DEVICES MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Stationary Stimulation Devices and Portable Stimulation Devices.

"Stationary Stimulation Devices": Immersive static devices are generally used in clinical practice and are intended for the permanent fixation of a patient’s condition. They are often more powerful and advanced than portable devices, offering precise control and higher intensity settings. These devices are most suitable for highly advanced treatment and the surroundings in which it works should be stable. They are used more frequently in the hospital and rehabilitation, to facilitate the treatment of patients with spinal cord injury, stroke and chronic pain syndrome.

"Portable Stimulation Devices": These stimulation devices are designed for home and outpatient use since they are portable. They are portable and hence ideal for patients with conditions that require regular check-ups. These devices are perceived to have lower intensity outcomes and also they cost less compared to other stationary devices. They are used for a variety of purposes most common of which are in the management of conditions such as urinary incontinence, muscle weakness and after-operation pains. They are also useful when a person wants to attend PT, PTA or any other type of therapy in the comfort of their home.

By Downstream Industry

Based on downstream industry the global market can be categorized into Hospital and Clinic.

"Hospital": Electrical stimulation devices mainly find application in hospitals which is used in therapies for the pain management section and used in patients who require rehabilitation after the surgery or in case of neurological and musculoskeletal disorders. These devices are utilized in specific branches of treatment such as therapy, including neurological and physiotherapy departments. Hospitals remain the most prominent buyers of these products as they possess modern healthcare facilities, skilled personnel and large clientele.

"Clinic": Electrical stimulation devices are mainly employed in clinic areas such as pain clinics, physical therapy clinics and neurological clinics. These devices are integrated into treatment journeys for chronic pain, neurological conditions and skeletal/muscular conditions. These devices are incorporated into patient care pathways for chronic pain, neurological diseases and skeletal/muscular diseases. These health issues have increased the use of electrical stimulation in clinics since they target specific areas and provide an individualized and concentrated session which makes clinics suitable for such treatments.

DRIVING FACTORS

"Increasing the prevalence of chronic pain conditions to boost the market"

The increasing incidence of chronic pain disorders including back pain, arthritis and neuropathic pain is a prominent factor that is fueling the global Electrical Stimulation Devices Market growth. These conditions are prevalent and impact the lives of millions of patients globally, putting pressure on healthcare systems to provide efficient means of pain control. TENS units and spinal cord stimulators are examples of bioelectric methods that are painless and non-pharmacological for the treatment of chronic pain. With the increased knowledge of these technologies and the advantages they bring into our lives, many patients and medical practitioners seek them out as a dependable means to treat chronic pain conditions. The increase in ageing people who are vulnerable to chronic pain also contributes to the need for such services. Also, theoretical progression and enhanced availability of devices have placed electrical stimulation as a more impactful and attractive technique in treating patients and therefore, are widely used in clinical and home contexts.

"Technological developments in implantable devices to increase the size of the market"

Technological developments focused on the functionality of implantable electrical stimulation devices are positively influencing implantable electrical stimulation market growth. Advancements in the field of technology have enabled researchers to come up with miniature tools with enhanced battery lives, flexibility of wireless controls and enhanced accuracy of the areas to be treated by the equipment. These innovations have increased the list of conditions that could be managed through implantable devices with chronic pains, epilepsy and Parkinson’s diseases, among others, thus, making the implantable devices more appealing to both the patients and the practitioners in the medical field. Enhancements to the biocompatibility of these devices and minimally invasive implantation approaches have lowered the probability of adverse consequences and postoperative healing, contributing to the growing embrace of these devices. Therefore there is an increasing market for implantable electrical stimulation devices that can provide long-term effective treatment and management of different neurological and musculoskeletal diseases.

RESTRAINING FACTORS

"Safety concerns associated with the stimulation device challenge the market"

Electrical stimulation devices carry certain risks that are hazardous and therefore act as challenges to technology development and market expansion. These include infection at the site of device implantation or electrode placements, which if not well controlled, may cause complications. Failures in indicators, faults in the mechanical structures or incorrect electrical output of the equipment, can consequently make patients uncomfortable or even incur burns and other related injuries. Similarly, concerns related to other complications such as skin reactions, sensitivity to the gel and impacts on other devices used for instance pacemakers, are alarming. These safety risks may discourage patients from seeking electrical stimulation treatments and make healthcare providers hesitant to prescribe them. Therefore, the safety issues mentioned above, if solved by further testing, better design of the device and enhanced patient information, will be key to improving patient acceptance and thus driving the growth of the market.

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ELECTRICAL STIMULATION DEVICES MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America dominate the market due to the presence of a large number of market players"

North America is expected to dominate the global Electrical Stimulation Devices Market share majorly owing to a large number of market players and well-developed healthcare facilities in the region. The presence of prominent medical device manufacturers, research organizations and healthcare centres, particularly in North America, plays a significant role in the higher usage and advancements of electrical stimulation devices. Moreover, favourable reimbursement policies and laterities also enhance the growth in the market and innovation of new products. The healthcare costs are high and the incidences of diseases such as chronic pain and neurological disorders are increasing in this region, which creates the need for such devices. Furthermore, North America has a prominent position in economic stability and there are significant healthcare providers and professionals, who have helped to ensure electrical stimulation therapies are widely recognized. By totality of these factors, North America is established as a major force in the market, with future advancement expected to be observed in the future years.

KEY INDUSTRY PLAYERS

"Key industry players are increasingly investing in research and development to enhance the device and market expansion"

Key market players are pouring substantial capital into research and development to improve electrical stimulation devices through innovations in neuromodulation, wireless charging and miniaturization among others. The development of these devices and their functions seek to enhance the usability, performance and satisfaction of the patients. Advanced neuromodulation methods involve DBS and SCS where neurosurgeons are improving methods to achieve more focused stimulation to precise networks in an attempt to improve treatment results for diseases such as Parkinson’s disease or chronic pain. Inconveniences such as battery replacement are removed through wireless charging the products are made small considering the comfort of the patients. These advancements do not only widen the horizon of electrical stimulation devices in numerous medical disciplines but also address the demand for personal and minimally invasive healthcare delivery systems. Such breakthrough innovations ensure that companies continue to advance the advancement of electrical stimulation devices to tackle rising healthcare needs and enhance patients' lives around the world.

"List of Market Players Profiled"

• Uroplasty (merged with Cogentix Medical) (U.S.)
• Cyberonics (U.S.)
• Zynex (U.S.)
• Abbott (St. Jude Medical) (U.S.)
• DJO Global (U.S.)
• BTL (U.K.)
• NeuroMetrix (U.S.)
• Boston Scientific (U.S.)
• Medtronic (Republic of Ireland)
• ElecteroMedics (acquired by Medtronic) (Republic of Ireland)

INDUSTRIAL DEVELOPMENT

"May 2024": Soterix Medical has released the MxN-GO EEG system which is a transcranial electrical stimulation that can also conduct EEG. Designed for research in mobile and natural settings, it features 33 stimulation channels and 32 recording channels, ensuring precision and application-specific functionality. The system, developed in collaboration with mBrainTrain, boasts a wire-free, lightweight design for easy setup and user comfort.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.