The industry analysis report by Future Market Insights projected that the global pulse electromagnetic field therapy devices market would bring in US$ 416.6 million in sales by 2021. It is anticipated that between 2022 and 2032, the market would grow at a rate higher than the historical average, particularly 8.6%. From 2022 to 2032, the Low-Frequency segment of the market is expected to generate the largest revenue, with a compound annual growth rate (CAGR) of over 8.8%.
According to the International Osteoporosis Foundation, osteoporosis results in 8.9 million fractures annually. Additionally, there are 1.6 million hip fractures worldwide each year, and between 4.5 and 6.3 million hip fractures are anticipated by 2050. As a result, as the incidence of osteoporosis increases, so will the demand for PEMF therapy devices.
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Increased fractures from falls, accidents, and sports injuries, as well as poor road conditions in various nations, are some of the causes driving the market’s expansion. A significant portion of people worldwide are affected by fractures brought on by sports-related injuries, accidents, falls from a particular height, and symptoms including arthritis, knee discomfort, and joint pain.
According to WHO figures, around 1.3 million people die each year because of traffic accidents. Furthermore, low- and middle-income countries account for the majority of worldwide traffic fatalities. Poorly maintained roads can result in a variety of injuries and pain in various body areas.
Pedestrians may become hurt by potholes, uneven pavement, fractured surfaces, and road cracking, all of which require medical attention. The danger of accidents and other injuries that might result in severe pain is also increased due to governments’ lack of focus on enhancing road infrastructure, which drives up healthcare costs for individuals.
Competitive Landscape
Some of the players operating in the pulse electromagnetic field therapy devices market include Bedfont Scientific, Orthofix Holdings, Nuage Health, Bemer, Oxford Medical Instruments Health, OSKA, Medithera, NiuDeSai, and I-Tech Medical Division.
Some of the recent developments of key players in Pulse Electromagnetic Field Therapy Devices Market are as follows:
- In August 2021, BEMER, released its latest Go-Edition to help people improve their health and well-being while on the go. A low-intensity pulsed electromagnetic field (PEMF) is used in the new portable set to increase muscle conditioning, performance, strength, and recuperation. Furthermore, the Go-Edition is an FDA-approved Class 11 medical device.
- In April 2021, Orthofix entered into an agreement with IGEA S.p.A., a biomedical company that specializes in biophysical therapeutics. The current agreement enabled the companies to collaborate on expanding the range of their bone, cartilage, and soft tissue stimulation treatments all over the United States.
- In September 2020, OSKA Wellness’ OSKA Pulse technology-enabled products were introduced in India. PETF technology used by OSKA Pulse has been scientifically tested to be effective in increasing the functionality of patients who have motor difficulties, had back problems or had been in calf pain, among other conditions.
- In February 2020, Orthofix launched the new STIM onTrack mobile app version 2.1, which allows for enhancing the treatment with CervicalStim, SpinalStim, and PhysioStim bone growth stimulators by assisting patients to share PROM data remotely along with device usage data.
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More insights:
North America is expected to dominate the Pulse Electromagnetic Field Therapy Market due to the increasing prevalence of chronic diseases such as arthritis, chronic pain, and depression. The region also has a well-established healthcare infrastructure and is home to many key market players.
Market Segments Covered in Pulse Electromagnetic Field Therapy Devices Industry Analysis
By Component:
- Low Frequency
- High Frequency
By Application:
- Bone Growth
- Pain Management
- Other Applications
By End-use:
- Home Care Settings
- Hospitals
- Other End-uses
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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