Pulse Electromagnetic Field Therapy Devices Market is expected to reach US$ 1 Billion by 2032, at a CAGR 8.6%
The Pulse Electromagnetic Field Therapy Devices Market revenues were estimated at US$ 416.6 Million in 2021 and are anticipated to grow at a CAGR of 8.6% from 2022 to 2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach US$ 1 Billion, with an absolute dollar opportunity of US$ 580 Million. The Low-Frequency pulse electromagnetic field therapy devices market is expected to account for the highest CAGR of 8.8%. Low-frequency PEMF devices are used to treat rheumatoid arthritis inflammation, pain, and impairments in a quick, non-invasive, and simple way.
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According to the International Osteoporosis Foundation, osteoporosis results in 8.9 million fractures annually. Additionally, there are 1.6 million hip fractures worldwide each year, and between 4.5 and 6.3 million hip fractures are anticipated by 2050. As a result, as the incidence of osteoporosis increases, so will the demand for PEMF therapy devices.
Increased fractures from falls, accidents, and sports injuries, as well as poor road conditions in various nations, are some of the causes driving the market’s expansion. A significant portion of people worldwide are affected by fractures brought on by sports-related injuries, accidents, falls from a particular height, and symptoms including arthritis, knee discomfort, and joint pain.
According to WHO figures, around 1.3 million people die each year because of traffic accidents. Furthermore, low- and middle-income countries account for the majority of worldwide traffic fatalities. Poorly maintained roads can result in a variety of injuries and pain in various body areas.
Pedestrians may become hurt by potholes, uneven pavement, fractured surfaces, and road cracking, all of which require medical attention. The danger of accidents and other injuries that might result in severe pain is also increased due to governments’ lack of focus on enhancing road infrastructure, which drives up healthcare costs for individuals.
Some of the players operating in the pulse electromagnetic field therapy devices market include Bedfont Scientific, Orthofix Holdings, Nuage Health, Bemer, Oxford Medical Instruments Health, OSKA, Medithera, NiuDeSai, and I-Tech Medical Division.
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Some of the recent developments of key players in Pulse Electromagnetic Field Therapy Devices Market are as follows:
- In August 2021, BEMER, released its latest Go-Edition to help people improve their health and well-being while on the go. A low-intensity pulsed electromagnetic field (PEMF) is used in the new portable set to increase muscle conditioning, performance, strength, and recuperation. Furthermore, the Go-Edition is an FDA-approved Class 11 medical device.
- In April 2021, Orthofix entered into an agreement with IGEA S.p.A., a biomedical company that specializes in biophysical therapeutics. The current agreement enabled the companies to collaborate on expanding the range of their bone, cartilage, and soft tissue stimulation treatments all over the United States.
- In September 2020, OSKA Wellness’ OSKA Pulse technology-enabled products were introduced in India. PETF technology used by OSKA Pulse has been scientifically tested to be effective in increasing the functionality of patients who have motor difficulties, had back problems or had been in calf pain, among other conditions.
- In February 2020, Orthofix launched the new STIM onTrack mobile app version 2.1, which allows for enhancing the treatment with CervicalStim, SpinalStim, and PhysioStim bone growth stimulators by assisting patients to share PROM data remotely along with device usage data.
North America is expected to dominate the Pulse Electromagnetic Field Therapy Market due to the increasing prevalence of chronic diseases such as arthritis, chronic pain, and depression. The region also has a well-established healthcare infrastructure and is home to many key market players.
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Market Segments Covered in Pulse Electromagnetic Field Therapy Devices Industry Analysis
- Low Frequency
- High Frequency
- Bone Growth
- Pain Management
- Other Applications
- Home Care Settings
- Other End-uses
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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