Burlingame, Aug. 06, 2024 (GLOBE NEWSWIRE) -- The global Electroconvulsive Therapy Market, valued at $16.1 million in 2023, is on a trajectory of rapid expansion, with projections indicating it will soar to $19.3 million by 2030, growing at a compound annual growth rate (CAGR) of 2.6% from 2023 to 2030, as per a recent report by Coherent Market Insights. Growing need for effective treatment of severe depression. ECT remains one of the most effective treatments available for patients suffering from severe depression who have not responded to other standard treatments like antidepressants and psychotherapy. Statistics show that around 30% of patients do not achieve full remission of depressive symptoms even after multiple antidepressant treatment attempts. ECT provides an important therapeutic option for such treatment-resistant patients.
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Market Dynamics:
The global electroconvulsive therapy market is witnessing high growth owing to rising geriatric population and increasing prevalence of neurological and mental disorders. As per WHO, over 20% of the world population will be aged 60 years and above by 2050. Also, mental and neurological disorders affect nearly 1 in 4 people globally. Electroconvulsive therapy is highly effective and safe treatment option for major depressive disorder and other conditions like bipolar disorder, postpartum depression and schizophrenia. Growing awareness regarding benefits of ECT amongst patients and practitioners is further fuelling the market growth.
Global Electroconvulsive Therapy Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2023 | $16.1 million |
| Estimated Value by 2031 | $19.3 million |
| Growth Rate | Poised to grow at a CAGR of 2.6% |
| Historical Data | 2018–2021 |
| Forecast Period | 2023–2030 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, By Application, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Increasing prevalence of mental disorders • Growing applications of ECT • Rising geriatric population |
| Restraints & Challenges | • Risk of cognitive impairment • Social stigma related to the therapy |
Market Trends:
Increase in home-based electroconvulsive therapy procedures: Many companies have introduced low-cost and portable electroconvulsive therapy devices that can be easily used at home or smaller clinics with minimal staff requirements. This reduces the overall healthcare costs and improves treatment accessibility in rural areas. Rising adoption of brief-pulse electroconvulsive therapy: Brief-pulse ECT uses brief electric pulses of 1.5 milliseconds instead of the conventional ultra-brief electric pulses of 0.5 milliseconds. It causes less cognitive side-effects without compromising therapeutic efficacy. Growing popularity of brief-pulse ECT is positively impacting the market dynamics.
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Unilateral electroconvulsive therapy (ECT) involves placing electrodes on one side of the head to induce seizures. It is considered a milder form of ECT compared to bilateral ECT as the seizures are limited to one side of the brain. Unilateral ECT helps reduce cognitive side effects and is recommended as the first choice of ECT for mild to moderate depression. The unilateral approach is expected to hold the largest market share owing to its reduced side effects.
Bilateral ECT involves placing electrodes on both sides of the head to induce generalized seizures. It is considered a more effective treatment for severe and treatment-resistant depression. Though it causes more pronounced cognitive and memory-related side effects compared to unilateral ECT, bilateral ECT dominates the market due to its efficacy in severe cases. Newer brief pulse waveform devices and ultrabrief pulse ECT have reduced the cognitive effects in recent years.
Key Market Takeaways:
The global electroconvulsive therapy market is anticipated to witness a CAGR of 2.6% during the forecast period 2023-2030, owing to rising awareness and acceptance of ECT as an effective treatment option for severe mental illnesses. On the basis of product type, the unilateral ECT segment is expected to hold a dominant position, owing to its reduced cognitive side effects. On the basis of application, the major depressive disorder segment is expected to dominate the market due to its high prevalence globally.
By end user, the hospitals & clinics segment dominates the market owing to specialized infrastructure and trained professionals required to administer ECT. North America is expected to hold a dominant position over the forecast period due to favorable reimbursement policies, healthcare infrastructure, and awareness. Key players operating in the electroconvulsive therapy market include Mecta, Ectron, Somatics, LLC., St.Jude Medical among others. These players are involved in new product launches and strategic collaborations to strengthen their market position.
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Market- Segmentation
By Product Type:
- Unilateral Electroconvulsive Therapy
- Bilateral Electroconvulsive Therapy
By Application:
- Major Depressive Disorder (MDD)
- Bipolar Disorder
- Schizophrenia
- Others
By End User:
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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