Electro-medical and Electrotherapeutic Apparatus Market, By Product Type, By Technology, By Distribution Channel, By Application, By End User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
Electro-medical and Electrotherapeutic Apparatus Market size was valued at USD 57,645.45 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
Electro-medical and electrotherapeutic apparatus encompasses a diverse array of devices harnessing electricity for diagnosing, treating, and monitoring medical conditions. This broad category includes well-known devices like pacemakers regulating heart rhythm, TENS units managing pain through electrical stimulation, and ECG machines recording heart activity. Advanced examples comprise CT scanners generating detailed internal images and defibrillators restarting a stopped heart. These instruments are pivotal in modern medicine, aiding in diagnosis, treatment, and patient monitoring, ensuring optimal healthcare delivery.
Electro-medical and Electrotherapeutic Apparatus Market- Market Dynamics
Technological advancements in diagnostic and therapeutic devices to propel market demand
The electro-medical and electrotherapeutic apparatus market is witnessing robust growth, propelled by technological advancements in diagnostic and therapeutic devices, the rising prevalence of chronic diseases, and a burgeoning ageing population. The demand for innovative medical technologies, such as advanced imaging equipment, electroencephalography (EEG) devices, and electrotherapeutic apparatus, continues to surge, driving market expansion. Moreover, the increasing adoption of minimally invasive surgical procedures and the focus on early disease diagnosis further propel the market's momentum, reflecting the evolving landscape of healthcare delivery. The ageing population with growing healthcare needs is fueling the market for electro-medical and electrotherapeutic devices, both in hospitals and for home use.
Electro-medical and Electrotherapeutic Apparatus Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on Product Type segmentation, the diagnostic equipment segment was predicted to show maximum market share in the year 2023
Based on Application segmentation, cardiology was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
Electro-medical and Electrotherapeutic Apparatus Market- Segmentation Analysis:
The Global Electro-medical and Electrotherapeutic Apparatus Market is segmented based on Product Type, Technology, Distribution Channel, Application, End User and Region.
The market is divided into five categories based on Product Type: diagnostic equipment, surgical devices, patient assistive devices, therapeutic equipment, and others. In the Electro-medical and Electrotherapeutic Apparatus market, diagnostic equipment holds a prominent position as a dominant product segment in 2023. This segment encompasses a diverse array of devices essential for diagnosing various medical conditions. From sophisticated imaging modalities like MRI and CT scanners to portable diagnostic tools such as blood glucose monitors and electrocardiography (ECG) machines, diagnostic equipment plays a critical role in facilitating accurate diagnoses and guiding treatment decisions across medical specialities.
The market is divided into seven categories based on Application: cardiology, neurology, oncology, orthopedics, gynecology, urology, and others. In 2023, cardiology emerges as a dominant field with significant revenue. Cardiology encompasses the diagnosis and treatment of heart-related conditions, including coronary artery disease, arrhythmias, and heart failure. Advanced cardiac monitoring devices, such as Holter monitors and implantable loop recorders, along with diagnostic tools like echocardiography and stress tests, are integral Product Types of cardiology practice. Moreover, the development of innovative technologies like implantable cardioverter-defibrillators (ICDs) and cardiac catheterization techniques has revolutionized the management of cardiovascular diseases, contributing to improved patient outcomes and quality of life.
Electro-medical and Electrotherapeutic Apparatus Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Electro-medical and Electrotherapeutic Apparatus Market- Competitive Landscape:
In the electro-medical and electrotherapeutic apparatus industry, companies rely on strategic initiatives of innovation and market expansion. Key market players prioritize pioneering product development to meet the evolving healthcare landscape; ensuring devices are efficient, user-friendly, and compliant with regulations. They also broaden their market presence through strategic partnerships and acquisitions. Adhering to stringent regulatory standards and offering robust customer support further enhance their position, ensuring sustained leadership in delivering unique healthcare solutions.
Recent Developments:
In March 2022, OMRON is conducting studies to evaluate the efficacy of its Focus TENS (Transcutaneous Electrical Nerve Stimulation) Therapy for Knee (PM-710) device in alleviating pain for individuals with mild to moderate knee wear and tear.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
Johnson & Johnson Services Inc.
Abbott Laboratories
Medtronic plc
Siemens Healthineers AG
Fresenius Medical Care AG And Co. KGaA
Koninklijke Philips N.V.
Stryker Corporation
General Electric Company (GE) Healthcare
Baxter International Inc.
Boston Scientific
Others
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET, BY PRODUCT TYPE - MARKET ANALYSIS, 2019 - 2032
Diagnostic Equipment
Surgical Devices
Therapeutic Equipment
Patient Assistive Devices
Others
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET, BY TECHNOLOGY- MARKET ANALYSIS, 2019 - 2032
X-ray
MRI
Electroencephalography (EEG)
Electrosurgery
CT Scan
Ultrasound
Others
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET, BY DISTRIBUTION CHANNEL- MARKET ANALYSIS, 2019 - 2032
Direct Tenders
Retail Sales
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
Cardiology
Neurology
Oncology
Orthopedics
Gynecology
Urology
Others
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET, BY END USER- MARKET ANALYSIS, 2019 - 2032
Hospitals
Ambulatory Surgical Centers
Specialty Clinics
Diagnostic Centers
Homecare Settings
GLOBAL ELECTRO-MEDICAL AND ELECTROTHERAPEUTIC APPARATUS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1.Electro-medical and Electrotherapeutic Apparatus Market Overview
1.1.Study Scope
1.2.Market Estimation Years
2.Executive Summary
2.1.Market Snippet
2.1.1.Electro-medical and Electrotherapeutic Apparatus Market Snippet by Product Type
2.1.2.Electro-medical and Electrotherapeutic Apparatus Market Snippet by Technology
2.1.3.Electro-medical and Electrotherapeutic Apparatus Market Snippet by Distribution Channel
2.1.4.Electro-medical and Electrotherapeutic Apparatus Market Snippet by Application
2.1.5.Electro-medical and Electrotherapeutic Apparatus Market Snippet by End User
2.1.6.Electro-medical and Electrotherapeutic Apparatus Market Snippet by Country
2.1.7.Electro-medical and Electrotherapeutic Apparatus Market Snippet by Region
2.2.Competitive Insights
3.Electro-medical and Electrotherapeutic Apparatus Key Market Trends
3.1.Electro-medical and Electrotherapeutic Apparatus Market Drivers
3.1.1.Impact Analysis of Market Drivers
3.2.Electro-medical and Electrotherapeutic Apparatus Market Restraints
3.2.1.Impact Analysis of Market Restraints
3.3.Electro-medical and Electrotherapeutic Apparatus Market Opportunities
3.4.Electro-medical and Electrotherapeutic Apparatus Market Future Trends
4.Electro-medical and Electrotherapeutic Apparatus Industry Study
4.1.PEST Analysis
4.2.Porter's Five Forces Analysis
4.3.Growth Prospect Mapping
4.4.Regulatory Framework Analysis
5.Electro-medical and Electrotherapeutic Apparatus Market: COVID-19 Impact Analysis
5.1.Pre-COVID-19 Impact Analysis
5.2.Post-COVID-19 Impact Analysis
5.2.1.Top Performing Segments
5.2.2.Marginal Growth Segments
5.2.3.Top Looser Segments
5.2.4.Marginal Loss Segments
6.Electro-medical and Electrotherapeutic Apparatus Market Landscape
6.1.Electro-medical and Electrotherapeutic Apparatus Market Share Analysis, 2023
6.2.Breakdown Data, by Key Manufacturer
6.2.1.Established Players' Analysis
6.2.2.Emerging Players' Analysis
7.Electro-medical and Electrotherapeutic Apparatus Market - By Product Type
7.1.Overview
7.1.1.Segment Share Analysis, By Product Type, 2023 & 2032 (%)
7.1.2.Diagnostic Equipment
7.1.3.Surgical Devices
7.1.4.Therapeutic Equipment
7.1.5.Patient Assistive Devices
7.1.6.Others
8.Electro-medical and Electrotherapeutic Apparatus Market - By Technology
8.1.Overview
8.1.1.Segment Share Analysis, By Technology, 2023 & 2032 (%)
8.1.2.X-ray
8.1.3.MRI
8.1.4.Electroencephalography (EEG)
8.1.5.Electrosurgery
8.1.6.CT Scan
8.1.7.Ultrasound
8.1.8.Others
9.Electro-medical and Electrotherapeutic Apparatus Market - By Distribution Channel
9.1.Overview
9.1.1.Segment Share Analysis, By Distribution Channel, 2023 & 2032 (%)
9.1.2.Direct Tenders
9.1.3.Retail Sales
10.Electro-medical and Electrotherapeutic Apparatus Market - By Application
10.1.Overview
10.1.1.Segment Share Analysis, By Application, 2023 & 2032 (%)
10.1.2.Cardiology
10.1.3.Neurology
10.1.4.Oncology
10.1.5.Orthopedics
10.1.6.Gynecology
10.1.7.Urology
10.1.8.Others
11.Electro-medical and Electrotherapeutic Apparatus Market - By End User
11.1.Overview
11.1.1.Segment Share Analysis, By End User, 2023 & 2032 (%)
11.1.2.Hospitals
11.1.3.Ambulatory Surgical Centers
11.1.4.Specialty Clinics
11.1.5.Diagnostic Centers
11.1.6.Homecare Settings
12.Electro-medical and Electrotherapeutic Apparatus Market- By Geography
12.1.Introduction
12.1.1.Segment Share Analysis, By Geography, 2023 & 2032 (%)
12.2.North America
12.2.1.Overview
12.2.2.Electro-medical and Electrotherapeutic Apparatus Key Manufacturers in North America
12.2.3.North America Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
12.2.4.North America Market Size and Forecast, By Product Type, 2019 - 2032 (US$ Million)
12.2.5.North America Market Size and Forecast, By Technology, 2019 - 2032 (US$ Million)
12.2.6.North America Market Size and Forecast, By Distribution Channel, 2019 - 2032 (US$ Million)
12.2.7.North America Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
12.2.8.North America Market Size and Forecast, By End User, 2019 - 2032 (US$ Million)