- 25 June 2019 18:59
Electromagnetic Therapy Device Market Expected To Observe Major Growth with CAGR of 6.09% Forecast Period 2019-2028
New York, Jun 25, 2019: In this treatment, the device emits pulsating, different intensity and frequency electromagnetic field through a solenoid placed around the patient. Human body molecules contain small amount of magnetic energy and electromagnetic therapy with the help of electromagnetic radiation is able to treat various diseases.
The factors expected to drive demand for electromagnetic therapy are technological advancements in the pulsed electromagnetic field and wide applicability in medical devices that aid in the healing of non-union fractures, pain, and help in bone growth. In addition, increasing adoption of electromagnetic therapy device due to various benefits such as reduction of pain and inflammation, improve energy/circulation, blood/tissue oxygenation, etc. is another factor expected to support the market growth.
Moreover, factors expected to positively impact the market growth are increasing lifestyle associated diseases, increasing spending on health and wellness and increasing adoption of PEMF therapy device due to its assistance in enhancing natural recovery, augments the results of exercise, yoga & meditation, and improves the body’s ability to use nutrients. In addition, rising geriatric population across the globe, coupled with the increasing number of outpatient with bone joint pain and related problems is resulting in increasing demand from hospitals is another factor expected to support the market growth.
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However, major factors expected to hinder the market growth are lack of skilled professional and low awareness about the PEMF therapy device.
Technological advancements, coupled with R&D activities for the development of advanced compact and high-frequency devices are expected to create new opportunities in terms of revenue for players operating in the target market over the forecast period. In addition, an increasing public-private partnership for R&D activates and innovative product offerings are expected to further support the market growth.
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Electromagnetic therapy device is of two types high frequency and low frequency. These devices find the applicability in bone growth and pain relief.
North America accounts for largest revenue share in the global electromagnetic therapy device market currently, owing to well-developed healthcare infrastructure in order to facilitate R&D activities and adoption of advanced medical devices and the presence of major players operating in the countries in this region. In addition, increasing expansion activities through partnerships and agreements are expected to support market growth in this region to a certain extent.
The markets in Asia Pacific is expected to contribute significant revenue shares in the global market. This can be attributed to increasing government spending on the healthcare sector, and innovative product offerings by regional players operating in emerging economies in this region. In addition, growing merger and acquisition activities between regional players are expected to further support market growth in this region.
Some of the major players operating in the global electromagnetic therapy device market are Orthofix Medical Inc., Swiss Bionic Solutions USA, Inc., Curatronic Ltd., Dolphin Neurostim, BEMER AG, Oxford Medical Instruments Ltd., Medithera GmbH, EarthPulse, and Orin Group.
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