The healthcare sector has been witnessing rapid transformations with technological innovations such as wireless connectivity, smartphone compatibility, and customizable treatment options to enhance user experience. Technology-enabled care (TEC) solutions are being preferred for better healthcare facilities in developing economies. Various established players in the industry have been investing significant parts of their revenues in R&D for the development of better and more advanced products and technologies for the healthcare sector. For instance, in September 2022, ONWARD Medical N.V. announced the Up-LIFT pivotal study evaluating ARC-EX therapy achieved positive results in its major effectiveness endpoint, indicating improvement in upper extremity strength and function. ARC-EX therapy is a proprietary noninvasive spinal cord stimulation technology that is designed to restore movements as well as other functions in people with movement disabilities.
Electrotherapy Systems Market: Regional Overview
In terms of geography, the electrotherapy systems market is primarily segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In terms of revenue, in 2022, North America dominated the electrotherapy systems market share. The market growth in North America is ascribed to population aging, which results in a high demand for electrotherapy in the region. According to WHO data released in December 2022, 73 million individuals in North America are estimated to be of age 65 or above by 2053. The same source states that 17% of the US population above 65 years of age are experiencing back discomfort and spinal injuries.
The electrotherapy systems market in Asia Pacific is anticipated to register the highest CAGR during 2022–2030. Growth of the market in Asia Pacific is ascribed to the expanding pool of patients with neurology-associated pain disorders, and the growing concerns over the prevalence of neuropathy and other related conditions, subsequently increasing in demand for electrotherapy. Also, with numerous government programs supporting the delivery of palliative care for those with chronic pain, the need for electrotherapy as an alternative to traditional pain management is on the rise. For instance, Painaustralia calls on the Australian Government to fund a targeted community education and awareness campaign on pain and its management, with materials and messages developed in partnership with consumers, health professionals, and health and community groups. The campaign aims to improve understanding of best-practice care, including care pathways, self-management strategies, evidence and guidelines, and quality use of medicines.
Electrotherapy Systems Market: Competitive Landscape and Key Developments
BTL, DJO LLC, Omron Healthcare Inc, Abbott, Boston Scientific Corporation, Medtronic, Nevro Corp, Phoenix Healthcare, Eme srl, and Pure Care are among the leading companies operating in the electrotherapy systems market. Market players focus on many organic and inorganic developments, which allows them to grab attractive business opportunities prevailing in the electrotherapy systems market.
• In March 2022, the FDA approved Cionic’s Neural Sleeve, a lightweight leg-worn product. The new wearable sleeve helps persons with mobility challenges (arising from stroke, multiple sclerosis (MS), cerebral palsy (CP), and other neurological diseases) by improving their gait through electrical stimulation. The robust Neural Sleeve by Cionic is intended to analyze, forecast, and enhance a person’s movements. The product reads the signals sent to the muscles from the brain in real time through advanced algorithms to predict the user’s movement one-tenth of a second before their foot lifts off the ground.
• In January 2022, TensCare showcased its latest pain relief device named Mynd migraine device at Arab Health. The company showcased its new-to-market products featuring modern TENS technology, which can be extensively used in the long-term treatment of chronic pain conditions such as backache, diabetic neuropathy, osteoarthritis, and sciatica as well as to mitigate the acute pain associated with childbirth. This device aids improved muscle toning to cure all types of incontinence and bladder weakness. The company has also introduced the Uniglo Muscle Stimulator, a new clinically proven aesthetics device to reduce wrinkles and fine lines as well as sculpt body muscles. Its new Mynd migraine relief device is another latest addition to the pain relief range of products.
• In May 2021, ITO CO., LTD. a pioneer of electrophysical agents in Japan, received 510(k) clearance from the FDA for the D function, which is its electrical muscle stimulator designed to treat temporomandibular joint (TMJ) dysfunction and associated pain. It is equipped with multiple treatment modes to relieve muscle spasms as well as to maintain balance and control over the nerves and muscles around the head and neck. Relaxation and relief of pain observed in the TMJ can be attained by applying the highly functional waveforms. The stimulation is easy on the skin, unlocking a comfortable treatment for patients.
• In March 2021, the FDA approved an application by Medtronic plc for the revised commercial labeling for its Intellis platform with Differential Target Multiplexed (DTM) programming. The new labeling was meant to include study outcomes from a multicenter randomized control trial, mentioning superior back pain relief conferred by DTM SCS compared to conventional SCS.
• In September 2020, Boston Scientific launched the WaveWriter Alpha portfolio of spinal cord stimulators in Europe. The four MRI conditional, Bluetooth-enabled implantable pulse generators (IPGs) launched in this portfolio offer greater personalization based on patient needs. The products also include rechargeable and non-rechargeable options, and access to waveforms covering multiple areas of pain.