The global functional electric stimulation market is expected to be worth US$ 600 million in 2022, with a CAGR of 4.1% to reach US$ 897 million between 2022 and 2032. The increasing prevalence of spinal cord injuries is attributed to the growth. From 2016 to 2021, the functional electrical stimulation market grew at a CAGR of 3.3%.
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What is Driving the Demand for Functional Electrical stimulation?
The functional electrical stimulation market is driven by various factors such as rising musculoskeletal disorders, advancement in the technological field such as medical science, the rising importance of pain management therapies in different fields of medicines, and the increasing number of physiotherapists for the disorders of muscle stimulators helps decrease pain, decrease discomfort, restore muscle tone, and rehabilitate various parts of the body.
Also, the unhealthy diet and lack of physical activities and exercise tend to drive the demand for functional electrical stimulation soon.
Rising Prevalence of Musculoskeletal Disorders Likely to Propel the Growth of Functional electrical stimulation Market
The prevalence of musculoskeletal disorders is rising globally due to unhealthy diet and lack of physical activity which leads to obesity and musculoskeletal disorders.
According to WHO data of February 2021, a total of 1.71 billion people were suffering from musculoskeletal conditions worldwide. Among which low back pain causes the highest burden with a prevalence of 568 million people suffering from the condition globally.
Thus, the demand for functional electrical stimulation will increase significantly with the increasing prevalence of musculoskeletal disorders shortly.
U.S. and Canada Functional Electrical Stimulation Market Outlook
Obesity is related to nervous system disorders and can lead to the condition of stroke also where the blood stops flowing to the brain. In America, the prevalence of obesity is rising due to changing lifestyles such as having unhealthy diet choices and changing sleep schedules.
For instance, according to CDC, the prevalence of obesity increases from 30.5% to 42.4% from 2000 to 2018.
Therefore, the demand for functional electrical stimulation will increase during the forecast period from 2021 to 2031.
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Europe Demand Outlook for Functional Electrical Stimulation
The prevalence of the musculoskeletal disorder is high in the region that has a direct positive impact on the electrical stimulation market. For instance, Poland and Hungary are the two European countries with the highest prevalence of musculoskeletal disorder with 6,737 and 6,697 per 100,000 population respectively.
Thus, with the rising musculoskeletal disorder, the demand for functional electrical stimulation also rises in the region.
Who are the Key Manufacturers and Suppliers of Functional Electrical Stimulation?
The key players of functional electrical stimulation include HASOMED GmbH, Bioness Inc., Trulife, Otto Bock, Odstock Medical Limited, Hobbs Rehabilitation, MotoMed, and others.
The above companies follow certain strategies like merger & acquisition, getting FDA approval, and new product launches to be at the top position in the market. For instance, in May 2017, Ottobock collaborated with Bioness for the distribution of the new FES generation from Bioness.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Integrated Functional Electrical Stimulation Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Note: Although care has been taken to maintain the highest levels of accuracy in FMI’s reports, recent market/vendor-specific changes may time to reflect in the analysis.
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Key Segments
By Product Type:
- Wired Devices
- Wireless Devices
By Indication:
- Neurological Disorders
- Pain Management
- Musculoskeletal Disorders
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
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