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 growth of the functional electrical stimulation market is driven by several factors, including the increasing incidence of musculoskeletal disorders, advancements in medical technology, the rising importance of pain management therapies across various fields of medicine, and the growing number of physiotherapists utilizing muscle stimulators to alleviate pain, discomfort, restore muscle tone, and rehabilitate different parts of the body.
Furthermore, an unhealthy diet and lack of physical activity and exercise also contribute to the demand for functional electrical stimulation.
As the prevalence of musculoskeletal disorders continues to rise globally, fueled by unhealthy lifestyles and habits, the demand for functional electrical stimulation is expected to grow significantly. According to the World Health Organization’s February 2021 data, approximately 1.71 billion people worldwide are affected by musculoskeletal conditions, with low back pain being the most prevalent, affecting 568 million individuals worldwide.
U.S. and Canada Functional Electrical Stimulation Market Outlook
Obesity is linked to nervous system diseases 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 need for functional electrical stimulation is expected to rise from 2022 to 2032.
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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 greatest frequency of musculoskeletal disorders in Europe, with 6,737 and 6,697 per 100,000 persons, 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 research is a compilation of first-hand knowledge, qualitative and quantitative analysis by industry analysts, and input from industry professionals and value chain players. The research examines parent market trends, macroeconomic data, and controlling factors, as well as market attractiveness by segment. The qualitative influence of key market factors on market segments and regions is also depicted in the study.
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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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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