Pulsed Electromagnetic Field Therapy Devices Market: Leading players engage in new product development to gain market share
Global Pulsed Electromagnetic Field Therapy Devices Market: Overview
Pulse electromagnetic field therapy (PEMF) is a non-invasive treatment which creates micro-current in a tissue. Pulsed electromagnetic field therapy devices are used to treat various chronic conditions as well as chronic pain. Additionally, these are used to treat bone related conditions, injuries, and pain. Moreover, PEMF therapy is used to treat cervical osteoarthritis, knee osteoarthritis, and chronic lower back pain. Pulsed electromagnetic field therapy has various applications such as healing of wounds, restore normal potential, reduce swelling, and regeneration of tissue.
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Global Pulsed Electromagnetic Field Therapy Devices Market: Key Trends
Increase in incidence of sport injuries during sports and rise in risk of fractures due to falls & road accidents are the factors projected to drive the global pulsed electromagnetic field therapy devices market. Moreover, increase in geriatric population, surge in awareness, and rise in prevalence of nonunion fractures are anticipated to propel the global market. In March 2018, Orthofix International N.V. received the U.S. Food and Drug Administration and European CE Mark approvals for the next generation PhysioStim bone growth stimulator. This product approval enabled to strengthen the PEMF technology platform. According to the Annual European Congress of Rheumatology (EULAR) 2018, an estimated 130 million people will suffer from osteoarthritis across the world by 2050. Furthermore, poor understanding of mechanism of bone healing and lack of experimental validation are likely to restrain the global market.
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Global Pulsed Electromagnetic Field Therapy Devices Market: Segmentation
The global pulsed electromagnetic field therapy devices market can be segmented based on power, application, and end user. In terms of power, the market can be bifurcated into low frequency and high frequency. Based on application, the global pulsed electromagnetic field therapy devices market can be classified into pain relief, bone growth, and others. The pain relief segment dominated the market in 2018 due to rise in prevalence of chronic pain during sports and due to road accidents. In terms of end-user, the market can be divided into hospitals, home care settings, and others.
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Global Pulsed Electromagnetic Field Therapy Devices Market: Regional Analysis
The global pulsed electromagnetic field therapy devices market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2018 due to presence of key players and rise in prevalence of sport injuries. According to the U.S. Centers for Disease Control and Prevention (CDC), participation in organized sports is on the rise. More than 3.5 million kids under 14 receive medical treatment for sports injuries each year. The market in Europe is projected to be driven by rise in prevalence of arthritis and injuries. The pulsed electromagnetic field therapy devices market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to increase in number of road accidents, surge in geriatric population, and rise in prevalence of osteoarthritis. Moreover, changing lifestyle, obesity, and aging population are the factors expected to drive the market in the region. According to Ministry of Health and Family Welfare, Government of India, osteoarthritis is the second most common disease in India and is more prevalent in women than men.
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Global Pulsed Electromagnetic Field Therapy Devices Market: Competitive Landscape
The global pulsed electromagnetic field therapy devices market is highly fragmented due to presence of large number of players. Large number of manufacturers hold significant market share in their respective regions. Leading players engage in new product development to gain market share. Key players operating in the global pulsed electromagnetic field therapy devices market are Oxford Medical Instruments Health Store, Nuage Health, Orthofix Holdings, Inc., I-Tech Medical Division, Pulsed Energy Technologies LLC, Swiss Bionic Solutions, SEDONA Wellness Ltd., Pulse Centers, and BioBalance, among others.
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