The Global Pulse Electromagnetic Field Therapy Devices Market size is expected to reach $743.21 million by 2027, rising at a market growth of 10.3% CAGR during the forecast period.
Pulse Electromagnetic Field (PEMF) therapy devices are popular for their secure and non-invasive nature with minimized side effects. Also, PEMF therapy offers a unique method for treating several types of musculoskeletal disorders. PEMF devices exhibit many advantages such as reducing chronic and severe pain associated with various connective tissues like ligaments, tendon, bone, cartilage injury, and edema & inflammation control. Therefore, the growth of the market is expected to be fuelled by the advantages offered by these devices.
Acute spinal injuries and delayed union & non-union fractures are caused by road accidents and trauma and these injuries need appropriate surgical procedures. Also, the PEMF therapy devices support the growth of bones throughout the treatment of delayed unions, new fractures, failed spinal fusions, and fracture non-union.
As per the recent findings of the World Health Organization, the number of people aged 60 years or above would increase from 900 million to 2 billion from 2015 to 2050. This growing aging population would require pulse electromagnetic field therapy devices, thereby creating lucrative growth opportunities for the players operating in the pulse electromagnetic field therapy devices market during the forecasting period.
The outbreak of the COVID-19 pandemic has created the need for non-clinical remote professionals. Along with this, the industry players in the pulse electromagnetic field therapy devices are increasing the supply via eCommerce platforms so as to continue to provide these pain-relief devices to the patients as well as the healthcare institutions.
However, the demand for these devices was also hampered during the pandemic as many people prefer to treat themselves at home due to the fear of getting infected by the deadly coronavirus. Additionally, the hospitals also eliminated non-urgent treatments including pain-relief procedures which hampered the demand for these devices in the market.
Around the world, a significant portion of the population is suffering from pain because of the fractures that occurred by sports injuries, accidents, falls from a specific height, and signs like arthritis, knee pain, and joint pain. According to the statistics of WHO, around 1.3 million deaths occur annually because of road traffic accidents. In addition, low- and middle-income countries witness a major portion of the global fatalities on the road.
Poorly maintained roads can cause different types of injuries and pain in various parts of the body. Factors such as potholes, uneven roads, broken surfaces, and cracking of the road can hurt a pedestrian which would require medical attention. Also, the lack of focus of the governments to improve the road infrastructure increases the possibilities of accidents and other injuries which could cause severe pain, thus increasing the healthcare burden on the individuals.
With the low availability of suitable infrastructure needed for the utilization of these devices, there is an immense risk of failure of the devices. Lack of infrastructure means the absence of knowledge and resources required to operate the pulse electromagnetic field therapy devices. Instead of treating the pain, defective devices can increase the pain level which would seriously hamper the growth of the pulse electromagnetic magnetic fields therapy devices market in the upcoming years.
Based on power, the PEMF therapy devices market is segmented into low frequency and high frequency. In 2020, the low-frequency power segment acquired the maximum revenue share of the market. In addition, low-frequency PEMF devices are capable of delivering magnetic fields with generally medium-high intensities but at less frequency. Besides, these devices are utilized to treat delayed bone union and hard tissues.
Based on the Application, the Pulse Electromagnetic Field Therapy Devices Market is segregated into Pain Management, Bone Growth, and Others. The pain management segment procured the largest revenue share of the market. In addition, PEMF therapy devices offer an ideal magnetic field that can decrease pain by improving the expansion and contraction of cells and also by detoxicating and reproducing the harmed cells. Additionally, the cases of chronic diseases are constantly increasing around the world.
Based on End-use, the Pulse Electromagnetic Field Therapy Devices Market is segmented into Hospitals, Home Care Settings, and Others. The hospitals segment acquired the maximum revenue share of the market. Patients highly prefer to visit hospitals for the treatment of chronic pain and various bone diseases such as osteoporosis, osteoarthritis, and among others. Additionally, the growth of the segment would witness bright prospects due to the rise in the number of hospital admissions of patients experiencing fractures, spinal injuries, road accidents, and traumatic injuries.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 8.2 Billion |
| Market size forecast in 2027 | USD 743.21 million |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 10.3% from 2021 to 2027 |
| Number of Pages | 192 |
| Number of Tables | 339 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Power, Application, End use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on the Region, the pulse electromagnetic field therapy devices market is analyzed across North America, Europe, APAC, and LAMEA. In 2020, North America emerged as the leading region of the market by obtaining the largest revenue share of the market. The demand for PEMF therapy devices in the region would be driven by the growing cases of osteoarthritis and osteoporosis among the people in the region. Further, as the US is home to sophisticated Healthcare infrastructure, the demand and growth of PEMF therapy devices would increase in the region over the forecast period.
Free Valuable Insights: Global Pulse Electromagnetic Field Therapy Devices Market size to reach USD 743.21 million by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bedfont Scientific Ltd., Orthofix Medical, Inc., I-Tech Medical Division (I.A.C.E.R. Srl), Oska Wellness, Inc., Nuage Health Devices Pvt. Ltd., Sedona Wellness, Bemer USA, LLC, Pulsed Energy Technologies LLC, and HealthyLine.
By Power
By Application
By End Use
By Geography
The global pulse electromagnetic field market size is expected to reach $743.21 million by 2027.
Growing incidences of fractures due to fall, accidents, and sports injuries are driving the market in coming years, however, risk of failure and product recall limited the growth of the market.
Bedfont Scientific Ltd., Orthofix Medical, Inc., I-Tech Medical Division (I.A.C.E.R. Srl), Oska Wellness, Inc., Nuage Health Devices Pvt. Ltd., Sedona Wellness, Bemer USA, LLC, Pulsed Energy Technologies LLC, and HealthyLine.
The expected CAGR of the pulse electromagnetic field market is 10.3% from 2021 to 2027.
The North America market dominated the Global Pulse Electromagnetic Field Therapy Devices Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $310.44 million by 2027, growing at a CAGR of 9.6 % during the forecast period.
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