Portland, OR, Oct. 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electrotherapy market was estimated at $979.0 million in 2021 and is expected to hit $1.63 billion by 2031, registering a CAGR of 5.3% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $979.0 Million |
| Market Size in 2031 | $1.63 Billion |
| CAGR | 5.3% |
| No. of Pages in Report | 280 |
| Segments Covered | Type, Application, End-user, and Region. |
| Drivers | Rise in a number of chronic diseases such as orthopedic disorders & diabetes |
| Opportunities | Technological advancements in the healthcare sector |
| Restraints | Alternative treatment option for pain and lack of awareness regarding electrotherapy |
Covid-19 scenario-
- The outbreak of the pandemic caused disruptions in consultation for diseases such as orthopedic disorders & diabetes, and for chronic pain. This, in turn, restricted the demand for electrotherapy procedures as well as their devices, thus impacting the global electrotherapy market negatively.
- However, as the global situation started getting back on track, the market for electrotherapy also recovered quickly.
The global electrotherapy market is analyzed across type, application, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on type, the transcutaneous electrical nerve stimulation segment held more than half of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 5.5% throughout the forecast period.
Based on application, the sports medicine segment held more than one-third of the total market revenue in 2021, and is expected to dominate by 2031. The pain management segment, however, would manifest the fastest CAGR of 5.9% throughout the forecast period.
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Based on end-user, the hospitals and clinics segment held nearly four-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 5.5% throughout the forecast period.
Based on region, the market across North America generated more than two-fifths of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 6.1% during the forecast period. The other provinces analyzed in the report include Europe and LAMEA.
The key market players analyzed in the global electrotherapy market report include AliMed, Colfax, Zynex Medical, EMS Physio Ltd, HMS Medical system, Medtronic, OMRON Healthcare, Palex Medical, Skin Inc., and Abbott. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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