The global functional electrical stimulation (FES) market is projected to be valued at USD 620.9 million in 2023 and is anticipated to grow to approximately USD 931.4 million by 2033, reflecting a compound annual growth rate (CAGR) of 4.1% over the forecast period.
The market’s expansion is primarily driven by the increasing incidence of spinal cord injuries, which are contributing to a higher demand for effective rehabilitation and therapeutic solutions. From 2018 to 2022, the FES market registered a CAGR of 2.6%, highlighting a steady growth trajectory.
Advancements in functional electrical stimulation technologies are enhancing treatment options and improving patient outcomes, further fueling market growth. As the healthcare sector continues to innovate and address the needs of individuals with spinal cord injuries, the FES market is poised for significant development, offering promising opportunities for stakeholders in the coming years.
Future Market Insights, in its latest business report, elaborates on the current situation of the global Functional Electrical Stimulation market in terms of volume, value, production, and consumption. The report scrutinizes the market into various segments, end uses, regions, and players on the basis of demand patterns, and future prospects.
Understanding the Impact of Covid-19 on Healthcare Industry
With the pandemic plaguing maximum countries across the globe, healthcare industry is witnessing its fair share of ‘ups and downs’. The COVID-19 has placed an enormous strain on the healthcare sector’s workforce, facilities and infrastructure. Despite the endless pressure, healthcare sector is growing at a moderate pace due to the improvement in infrastructure and advancement in technology, healthcare sector is delivering a healthy performance.
The FMI’s latest report on the Functional Electrical Stimulation market gives a detailed analysis on the impact of COVID-19 with an incisive coverage on the innovative strategies adopted by the market players to survive the challenges due to pandemic.
A Old Full Report Analysis Click Here
Functional Electrical Stimulation Market: Segmentation
By Product Type:
- Wired Devices
- Wireless Devices
By Indication:
- Neurological Disorders
- Pain Management
- Musculoskeletal Disorders
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Author
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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