Muscle Stimulator Market Trends
Growth Drivers
- Increasing Cases of Musculoskeletal Conditions – On account of the increasing population and ageing, the number of persons with musculoskeletal diseases and related functional restrictions is constantly rising. Further, it's possible for older persons to lack the motivation or ability to engage in physical activity appropriately, therefore, the needs of older persons are best served by muscle stimulators. In 2019, there were more than 700 million people worldwide who were 65 or older.
- Growing Rate of Sports Injuries – Sports-related injuries have become more common over the past several years, mostly as a consequence of increased engagement in athletics. As orthopedic power tools such as electric muscle stimulator disables the pain receptors in the nerves around the injury, which stops the nerves from communicating pain to the brain. Electrical stimulation might thereby lessen the discomfort from the damage. In the US, around 20 million children & teens play sports annually, and there have been more than 3 million reported sports-related injuries.
- Surging Demand for Fitness Products – The demand for sports equipments has risen as a result of an increase in the number of individuals participating in physical activities including biking, running, swimming, and others. Further, electrical stimulation is employed on pain-causing sports-related injuries, which have become more prevalent, as a result of increased participation in fitness-related activities. According to statistics, Australians spend more than USD 8 Billion annually, on exercise services and gear.
- Increasing Popularity of Sports – Owing to rising outdoor sport participation, whole-body electrical stimulation (ES) has gained popularity as a substitute for conventional exercise in order to improve fitness and health in healthy persons. As per estimates, more than 90% of Americans participated in sports and exercise every day in 2019.
Challenges
- Exorbitant cost of muscle stimulator devices - Customers are being encouraged to choose less expensive alternative therapies such as yoga, acupuncture, and aromatherapy owing to the high expense of muscle stimulators. For instance, acupuncture has been utilized as an alternative type of medicine, mostly for the treatment of pain.
- Absence of regulations regarding the use of muscle stimulators
- Acceptance of alternative therapies by patients
Muscle Stimulator Market: Key Insights
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.1% |
|
Base Year Market Size (2024) |
USD 1.13 billion |
|
Forecast Year Market Size (2037) |
USD 2.44 billion |
|
Regional Scope |
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