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 by 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, technological advancements such as medical science, the increasing importance of pain management therapies in various fields of medicine, and the increasing number of physiotherapists for muscle disorders. Stimulators help decrease pain, discomfort, restore muscle tone, and rehabilitate various parts of the body.
Furthermore, an unhealthy diet, as well as a lack of physical activities and exercise, tend to drive the demand for functional electrical stimulation quickly.
Rising Prevalence of Musculoskeletal Disorders Likely to Propel the Growth of Functional electrical stimulation Market
Musculoskeletal disorders are becoming more common around the world as a result of an unhealthy diet and a lack of physical activity, which leads to obesity and musculoskeletal disorders.
According to WHO data from February 2021, 1.71 billion people worldwide were suffering from musculoskeletal conditions. Low back pain has the highest burden, with 568 million people worldwide suffering from the condition.
As a result of the rising prevalence of musculoskeletal disorders, the demand for functional electrical stimulation will skyrocket in the near future.
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U.S. and Canada Functional Electrical Stimulation Market Outlook
Obesity is linked to nervous system disorders and can also lead to stroke, a condition in which blood flow to the brain is interrupted. Obesity is becoming more common in America as a result of changing lifestyles such as eating unhealthy foods and sleeping irregularly.
According to the CDC, the prevalence of obesity increased from 30.5% to 42.4% between 2000 and 2018.
As a result, the demand for functional electrical stimulation is expected to rise from 2021 to 2031.
Europe Demand Outlook for Functional Electrical Stimulation
The region has a high prevalence of musculoskeletal disorders, which has a direct positive impact on the electrical stimulation market. Poland and Hungary, for example, have the highest prevalence of musculoskeletal disorders in Europe, with 6,737 and 6,697 per 100,000 population, respectively.
As the prevalence of musculoskeletal disorders rises, so does the demand for functional electrical stimulation 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 analysis by industry analysts, and input from industry experts and value chain participants. The report examines parent market trends, macroeconomic indicators, and governing factors, as well as market attractiveness by segment. The qualitative impact of various market factors on market segments and geographies is also depicted in the report.
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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.
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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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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