Electrical Stimulation Devices (ESDs) Market is segmented by Product Type (Spinal Cord Stimulation (SCS) Devices, Deep Brain Stimulation (DBS) Devices, Vagus Nerve Stimulation (VNS) Devices, Sacral Nerve Stimulation (SNS) Devices, Gastric Electric Stimulation (GES) Devices, Transcutaneous electrical nerve stimulation (TENS) Devices, and Neuromuscular Electrical Stimulation (NMES/EMS) Devices), by Application Type (Pain Management, Neurological, and Movement Disorder Management, and Musculoskeletal Disorder Management), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The U.K., Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, Israel, and Others]) - COVID-19 Impact Analysis and Forecast to 2026.
Electrical Stimulation Devices (ESDs) Market is segmented by Product Type...
“The Electrical Stimulation Devices (ESDs) Market is expected to grow from USD 5.5 billion in 2020 to USD 7.9 billionby 2026 at a CAGR of 6.3% during the forecast period”.
Electrical Stimulation Devices are medical instruments or a technique whereby controlled electrical pulses are used to stimulate muscles, nerves, or tissues with the purpose of healing, relieving pain, or restoring the functional capacity of the body part in question. They operate by acting as the actual electric signals from the body to strengthen muscles, alleviate inflammation, boost circulation, or change the reception of pain to the brain.
ESDs are employed with their extensive use in treatment and management processes in physical therapy, rehabilitation, and pain intervention. TENS units, EMS, and deep brain stimulators are common ESDs, all of which differ in their uses and the problems for which they are designed to address.
Market Drivers
The Electrical Stimulation Devices (ESDs) market is primarily driven by the growing prevalence of chronic diseases and the increasing aging population. The demand for ESD is mainly from a large number of chronic diseases such as obesity, diabetes, and chronic pain.
Also, the overweight population is highly susceptible to cardiac diseases or chronic diseases. Moreover, a significant rise in diabetes further creates a need for advanced & effective drugs or treatments, thus augmenting the industry growth, during the forecast period.
COVID-19 Impact
The COVID-19 pandemic has moderately affected the Electrical Stimulation Devices (ESDs) industry. The rapid spread of COVID-19 has led to several thousands of hospital admissions. The focus of healthcare professionals has been shifted toward the treatment of COVID-19-infected patients, which affected the treatment of non-emergency medical conditions, amid the pandemic.
The Spinal Cord Stimulation (SCS) Devices segment accounted for the largest market share in 2020.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
North America accounted for the highest share in 2020 and is expected to grow at a robust CAGR during the forecast period.
By Product Type
“The Spinal Cord Stimulation (SCS) Devices segment captured the highest market share in 2020”.
The market has been segmented into Spinal Cord Stimulation (SCS) Devices, Deep Brain Stimulation (DBS) Devices, Vagus Nerve Stimulation (VNS) Devices, Sacral Nerve Stimulation (SNS) Devices, Gastric Electric Stimulation (GES) Devices, Transcutaneous Electrical Nerve Stimulation (TENS) Devices, and Neuromuscular Electrical Stimulation (NMES/EMS) Devices.
The Spinal Cord Stimulation (SCS) Devices segment accounted for the largest market share in 2020. Spinal cord stimulation (SCS) is a kind of neuromodulation, which works by blocking pain signals in nerves from reaching the brain. It enables to reduce the pain and also exhibits improved functioning and increased activity & mobility.
Regional Analysis
“North America dominated the market in 2020, with strong expected growth, while the Asia Pacific market is forecasted for healthy expansion”.
The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, the North American Electrical Stimulation Devices (ESDs) market accounted for the highest share in 2020 and is expected to grow at a robust CAGR during the forecast period.
The Electrical Stimulation Devices (ESDs) market growth is mainly attributed to the changing lifestyle of the people, the growing burden of chronic diseases, rising incidences of sports injuries, the prevalence of better healthcare facilities, rising healthcare spending, and favorable reimbursement & insurance plans, augments the regional market growth during the forecast timeline.
The Asia Pacific Electrical Stimulation Devices (ESDs) market is expected to grow at a healthy CAGR during the forecast period due to increasing aging population, high prevalence of several types of pain in the region, improving healthcare infrastructure, and a promising life expectancy of populations in numerous countries.
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Key Players
The following are the key players in the Electrical Stimulation Devices (ESDs) Market (arranged alphabetically)
Boston Scientific (US)
Cogentix Medical (US)
Cyberonics (US)
DJO Global (US)
Medtronic (Ireland)
NeuroMetrix (US)
Nevro (US)
St. Jude Medical (US)
Zynex (US)
Note: The above list does not necessarily include all the top players in the market.
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In-depth Analysis of the Electrical Stimulation Devices (ESDs) Market
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Global, regional, and country-level historical data and forecasts
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Market segment analysis and Forecast
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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The Electrical Stimulation Devices (ESDs) market is primarily driven by the growing prevalence of chronic diseases and the increasing aging population.
The key players operating in the global electrical stimulation devices (ESDs) market are Boston Scientific (US), St. Jude Medical (US), Medtronic (Ireland), Cyberonics (US), DJO Global (US), Nevro (US), NeuroMetrix (US), Cogentix Medical (US), Zynex (US).