According to a ground-breaking forecast, the Global Functional Electrical Stimulation Industry is expected to expand at a solid rate of 4.1% CAGR, from a valuation of US$ 620.9 million in 2023 to an astounding US$ 931.4 million by 2033.
Industry insiders released this ambitious estimate, which highlights the sector’s potential for substantial growth over the next 10 years. The reason for this explosion is closely related to the increasing number of spinal cord injuries, which makes functional electrical stimulation an essential component of the rehabilitation and medical environment.
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What is Driving the Demand for Functional Electrical Stimulation?
The Functional Electrical Stimulation market is experiencing growth due to 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 using muscle stimulators to alleviate pain, discomfort, restore muscle tone, and rehabilitate different parts of the body.
In addition, an unhealthy diet, lack of physical activity, and exercise are contributing to the demand for Functional Electrical Stimulation.
As the prevalence of musculoskeletal disorders continues to rise globally, driven by unhealthy lifestyles and habits, the demand for Functional Electrical Stimulation is expected to increase significantly. According to data from the World Health Organization in February 2021, approximately 1.71 billion people worldwide are affected by musculoskeletal conditions, with low back pain being the most prevalent and affecting 568 million individuals worldwide.
US and Canada Functional Electrical Stimulation Industry Outlook
Obesity is associated with nervous system illnesses and can result in stroke, a condition in which blood flow to the brain is disrupted. Obesity is growing more prevalent in the United States as a result of changing lifestyles such as eating unhealthy foods and sleeping sporadically.
Obesity prevalence grew from 30.5% to 42.4% between 2000 and 2018, according to the CDC.
As a result, from 2022 to 2032, the demand for Functional Electrical Stimulation is predicted to increase.
Europe Demand Outlook for Functional Electrical Stimulation
The region has a significant prevalence of musculoskeletal problems, which benefits the electrical stimulation market directly. Poland and Hungary, for example, have the highest rates of musculoskeletal diseases in Europe, with 6.737 and 6.697 cases per 100,000 people, respectively.
The demand for Functional Electrical Stimulation in the region is increasing as the prevalence of musculoskeletal illnesses rises.
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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.
Integrated Global Functional Electrical Stimulation Industry 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.
Global Functional Electrical Stimulation Industry 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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