Global Pulse Electromagnetic Field Therapy Devices Market - 2021-2028

Global Pulse Electromagnetic Field Therapy Devices Market - 2021-2028

Market Overview

The Global ""Pulse Electromagnetic Field Therapy Devices Market"" Is Expected to reach at a CAGR of 7.8% during the forecast period (2021-2028).

PEMF (Pulse Electromagnetic Field) therapy devices are popular because they are safe and non-invasive, with few adverse effects. PEMF therapy is also a unique treatment option for various musculoskeletal problems. PEMF devices have several benefits, including reducing chronic and severe pain linked with ligament, tendon, bone, cartilage, and edema and inflammation control.

Market Dynamics

Pulsed electromagnetic field therapy to treat injuries and pain is expected to increase as the risk of fractures from falls and accidents increases, as does the number of sports injury cases. A growing focus on advanced product development, such as small devices and remote operation by integrating with mobile phone characteristics, is expected to drive market expansion significantly throughout the forecast period.

The increase in prevalance of road accidents and sports injuries will drive the market growth

Delay union and nonunion fractures and serious spinal injuries are common after trauma and car accidents. These injuries necessitate immediate surgery. When treating fresh fractures, fracture nonunion, delayed unions, and failed spinal fusions, these therapy devices are employed to aid in the healing process of these bones. Furthermore, as the number of people with osteoporosis rises, the market for pulsed electromagnetic field therapy equipment increases.

The majority of people today suffer from pain due to fractures from accidents, sports injuries, falls from a certain height, and indications such as arthritis, joint pain, and knee pain. According to recent WHO statistics, nearly 1.3 million people die each year due to traffic accidents. Most road fatalities (93 percent) occur in low- and middle-income countries. Non-fatal injuries affect between 20 million and 50 million people, with many becoming disabled due to their injuries.

According to a study conducted by the Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures each year, resulting in an osteoporosis fracture every three seconds.

The pulse electromagnetic field therapy devices are non-invasive and safe. These devices have no discernible adverse effects. PEMF therapy also provides a new treatment option for various musculoskeletal disorders. These devices have been approved by the US Food and Drug Administration to treat non-union fractures. The devices are also used to treat edema, discomfort, plantar fasciitis, and post-operative osteoporosis, among other things.

PEMF therapy devices have several advantages, including reducing acute and chronic pain associated with various connective tissues, such as inflammation control, edema, cartilage injury, ligaments, tendon, and bone. As a result of these advantages, the pulsed electromagnetic field therapy devices market is expected to rise significantly in the coming years.This contributes to the growth of the global pulse electromagnetic field therapy devices market.

Lack of infrastructure is likely to hamper the market growth

Due to the scarcity of suitable infrastructure required to use these devices, there is a high risk of device failure. In the absence of infrastructure, there is a lack of knowledge and resources required to operate pulse electromagnetic field therapy devices. Instead of treating the pain, defective devices can exacerbate it, threatening the growth of the pulse electromagnetic magnetic fields therapy devices market in the coming years.

COVID-19 Impact Analysis

Strict lockdown restrictions have been implemented in various regions due to COVID. With travel restrictions, quarantine, and complete lockdowns in several countries, the economy has slowed and is entering a state of recession. This has included healthcare systems all over the world. Furthermore, the COVID-19 pandemic impacted traumatology and orthopedics, with nonurgent consultations canceled and elective surgeries postponed to reduce the risk of infection for both medical staff and patients. As a result, the pandemic harmed market growth.

Segment Analysis

The pain management segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)

PEMF therapy devices generate an optimal magnetic field, which reduces pain by enhancing cell expansion and contraction and detoxifying and regenerating damaged cells. Chronic pain is becoming more common all over the world. According to the CDC, nearly 20.4 percent of adults in 2019 had chronic pain, and 7.4 percent of adults were suffering from chronic pain. Furthermore, according to the same source, high-impact chronic pain, like chronic pain, increased with age and was highest among adults aged 65 and older in 2019. As a result, rising cases of chronic pain among adults are expected to fuel segment growth.

According to the Central Drug Control and Prevention, over 54 million cases of arthritis were recorded in the United States in 2019, making it the leading cause of work disability. As a result, the demand for pain management stimulators to treat chronic pain has increased. Patients are increasingly looking for alternative treatment options, such as pain management devices, due to the ineffectiveness of oral medications. Furthermore, one of the factors driving up demand is a lack of preference for surgeries. Hence, some of the above mentinoed factors are responsible for the growth of this segment in the forecast period.

Geographical Analysis

North America region holds the largest market share of global pulse electromagnetic field therapy devices market

North America is estimated as the market's leading region in global pulse electromagnetic field therapy devices market, accounting for the largest revenue share. The growing cases of osteoarthritis and osteoporosis among the people in the region are expected to drive demand for PEMF therapy devices. According to the report, there were 320.7 million prevalent cases of osteoarthritis (knee or hip) in adults aged 30 and older worldwide in 2019. That number is expected to rise to 367.7 million prevalent cases by 2028. Furthermore, because the United States has advanced healthcare infrastructure, demand and growth for PEMF therapy devices are expected to rise in the region over the forecast period.

Competitive Landscape

The pulse electromagnetic field therapy devices market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Bedfont Scientific,Orthofix Holdings, I- Tech Medical Division, OSKA, Medithera, Niu Desai, Nuage Health, Oxford Medical Instruments Health, BEMER, LLC , HealthyLine, Sedona Wellness , Pulsed Energy Technologies LLC.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the blood and blood products market globally. For instance Aug 2021 BEMER has unveiled its latest Go-Edition to help improve health and well-being while on the go. The new portable set uses a low-intensity pulsed electromagnetic field (PEMF) to improve muscle conditioning, performance, strength, and recovery. Furthermore, the Go-Edition is a Class 11 FDA-approved medical device.

Key Developments

Aug 2021-IGEA S.p.A, a biomedical business and a world pioneer in biophysical therapies, has formed a deal with Orthofix. The two firms are expected to expand their portfolio of bone, cartilage, and soft tissue stimulation products across the United States and Canada as part of this collaboration.

Sep 2021-In India, OSKA Wellness launched OSKA Pulse, a line of PEMF (Pulsed-Electromagnetic-Field-Therapy)-enabled goods. Furthermore, OSKA pulse uses PEMF technology, which has been scientifically proven to be effective in reducing pain and improving functional movements and exercises in patients with lower back pain, scapular dysfunction, and calf muscle pull.

Feb 2020-Orthofix has released version 2.1 of the STIM Ontrack mobile app, authorized by the FDA. The new STIM Ontrack mobile app version 2.1 is designed to improve treatment with bone growth stimulators such as CervicalStim, SpinalStim by allowing patients to exchange PROM data, as well as device usage data, with their treating physician remotely.

May 2019-Oska Wellness and the South Dakota Association of Healthcare Organizations have forged partnerships (SDAHO). Following the collaboration, SDAHO plans to help Oska Wellness make its drug-free wearable technology more accessible to everyone in South Dakota who suffers from pain.

April 2019-BEMER increased its geographic reach by bringing BEMER Pulsed Electromagnetic Field (PEMF) technology to the Canadian market. The company hoped to use this to give BEMER technology to Canadian residents to improve their health, well-being, and quality of life.

Orthofix Holdings

Overview: Orthofix Holdings is a medical device company that provides healthcare providers with orthopedic and spine solutions. The company is divided into two segments: global spine, which includes bone growth and healing therapies, spinal implants, and regenerative tissue products, and global extremities, which offers products and solutions for non-spinal bone conditions. The global spine segment in the US accounts for most of the company's sales. Orthofix sells its products in North America, Europe, and several other countries worldwide. Hospitals, physicians, other healthcare providers, and patients can all benefit from the company's solutions.

Product Portfolio:

PhysioStim : The PhysioStim devices are available in various models and are anatomically designed to fit the patient's body. Nonunion fractures of the arm, hand, wrist, clavicle, shoulder, hip, thigh, lower leg, ankle, or foot have specific applications. The devices are designed to be worn over clothing, casts, and internal and external surgical fixation devices.

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Visualize the composition of the global pulse electromagnetic field therapy devices market segmentation by power, application, end user, and region highlighting the key commercial assets and players.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Pulse Electromagnetic Field Therapy Devices Market– By Power

Low Frequency

High Frequency

Medium Frequency

Global Pulse Electromagnetic Field Therapy Devices Market- By Application

Pain Management

Bone Growth

Others

Global Pulse Electromagnetic Field Therapy Devices Market– By End User

Hospitals

Home Care Settings

Others

Global Pulse Electromagnetic Field Therapy Devices Market- By Region

North America

Europe

Asia-Pacific

Middle East & Africa

South America