The global electrotherapy market was valued at $979.0 million in 2021, and is projected to reach $1,636.4 million by 2031, registering a CAGR of 5.3% from 2022 to 2031. Electrotherapy is the use of electrical currents to produce therapeutic effects on the body. It is a powerful tool used by many physiotherapists to treat chronic pain, musculoskeletal injuries, muscle wasting, and nerve pain by using targeted & controlled electrical stimulation. Electrotherapy is a gentle & non-invasive modality that works by stimulating nerves & muscles through the surface of the skin. It sends out electrical impulses that block or interfere with the body's pain signals, leading to reduced pain. It helps to release endorphins (chemical messengers) that naturally decrease pain in the body. It stimulates muscle tissue to contract to reduce atrophy and creates a heating effect within the body which improves circulation & stimulates healing.
The electrotherapy market is driven by an increase in the prevalence of diabetes, advancement in technology in electrotherapy systems, and a rise in number of sports injuries. Diabetic peripheral neuropathy (DPN) is the most common complication of diabetes and is often associated with pain, affecting 16% to 33% of diabetes patients. Different types of electrotherapies are used to treat diabetic peripheral neuropathy. Further, according to the International Diabetes Federation, in 2021, approximately 537 million adult population across the globe suffered from diabetes. The total number of people suffering from diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, rise in the prevalence of diabetes is anticipated to drive the demand for electrotherapy, thereby strengthening the market growth. In addition, rise in number of product launches & approvals for electrotherapy devices contributes to driving the market growth. For instance, in May 2022, Abbott Laboratories, a medical device manufacturing company, announced the approval of the U. S. Food and Drug Administration (FDA) for its new Proclaim Plus spinal cord stimulation system, which provides tailored relief to multiple pain areas.
The geriatric population is more susceptible to orthopedic disorders, diabetes, and fall injuries as compared to other age groups, which results in rise in the prevalence of pain. Thus, rise in geriatric population increases the demand for electrotherapy for the treatment of chronic pain which contributes to drive the growth of electrotherapy market. In addition, governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, U. S. health care spending grew by 9.7% from 2019 to 2020 reaching $4.1 trillion ($12,530 per person). As a share of the nation's Gross Domestic Product, healthcare spending accounted for around 19.7 %. Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it was estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure in the UK, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for electrotherapy applications in different disease treatments, thereby boosting market growth.
On the other hand, the lack of awareness among people regarding electrotherapy and the different options available for the treatment of chronic pain is anticipated to restrain the growth of the electrotherapy market.
The global electrotherapy market is segmented on the basis of type, application, end-user, and region. On the basis of type, the market is segmented into transcutaneous electrical nerve stimulation, therapeutic ultrasound, and others. Other segments include electrical muscle stimulation, and interferential current (IC) therapy. By application, the market is classified into pain management, anxiety & insomnia management, sports medicine, and others. The pain management segment is divided into back pain and neck pain. Other segments include veterinary pain management, aesthetic, face lifting & toning. As per end user, the market is bifurcated into hospitals & clinics, and rehabilitation centers. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global electrotherapy market include Abbott, AliMed, Colfax, EMS Physio Ltd, HMS Medical system, Medtronic, OMRON Healthcare, Palex Medical, Skin Inc., and Zynex Medical.
The electrotherapy market is driven by an increase in the prevalence of diabetes, advancement in technology in electrotherapy systems, and a rise in number of sports injuries. Diabetic peripheral neuropathy (DPN) is the most common complication of diabetes and is often associated with pain, affecting 16% to 33% of diabetes patients. Different types of electrotherapies are used to treat diabetic peripheral neuropathy. Further, according to the International Diabetes Federation, in 2021, approximately 537 million adult population across the globe suffered from diabetes. The total number of people suffering from diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Thus, rise in the prevalence of diabetes is anticipated to drive the demand for electrotherapy, thereby strengthening the market growth. In addition, rise in number of product launches & approvals for electrotherapy devices contributes to driving the market growth. For instance, in May 2022, Abbott Laboratories, a medical device manufacturing company, announced the approval of the U. S. Food and Drug Administration (FDA) for its new Proclaim Plus spinal cord stimulation system, which provides tailored relief to multiple pain areas.
The geriatric population is more susceptible to orthopedic disorders, diabetes, and fall injuries as compared to other age groups, which results in rise in the prevalence of pain. Thus, rise in geriatric population increases the demand for electrotherapy for the treatment of chronic pain which contributes to drive the growth of electrotherapy market. In addition, governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, U. S. health care spending grew by 9.7% from 2019 to 2020 reaching $4.1 trillion ($12,530 per person). As a share of the nation's Gross Domestic Product, healthcare spending accounted for around 19.7 %. Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it was estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure in the UK, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for electrotherapy applications in different disease treatments, thereby boosting market growth.
On the other hand, the lack of awareness among people regarding electrotherapy and the different options available for the treatment of chronic pain is anticipated to restrain the growth of the electrotherapy market.
The global electrotherapy market is segmented on the basis of type, application, end-user, and region. On the basis of type, the market is segmented into transcutaneous electrical nerve stimulation, therapeutic ultrasound, and others. Other segments include electrical muscle stimulation, and interferential current (IC) therapy. By application, the market is classified into pain management, anxiety & insomnia management, sports medicine, and others. The pain management segment is divided into back pain and neck pain. Other segments include veterinary pain management, aesthetic, face lifting & toning. As per end user, the market is bifurcated into hospitals & clinics, and rehabilitation centers. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global electrotherapy market include Abbott, AliMed, Colfax, EMS Physio Ltd, HMS Medical system, Medtronic, OMRON Healthcare, Palex Medical, Skin Inc., and Zynex Medical.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electrotherapy market analysis from 2021 to 2031 to identify the prevailing electrotherapy market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electrotherapy market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electrotherapy market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Transcutaneous electrical nerve stimulation
- Therapeutic ultrasound
- Others
By Application
- Pain management
- Type
- Back pain
- Neck pain
- Anxiety and Insomnia Management
- Sports Medicine
- Others
By End User
- Hospitals and clinics
- Rehabilitation Centers
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest Of LAMEA
Key Market Players
- Abbott Laboratories
- AliMed
- Colfax
- ems physio ltd
- HMS Medical system
- Medtronic, Inc.
- Omron Healthcare
- Palex Medical SA
- Zynex Medical
- Skin Inc.
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Patent Landscape
CHAPTER 4: ELECTROTHERAPY MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Transcutaneous electrical nerve stimulation
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Therapeutic ultrasound
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: ELECTROTHERAPY MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Pain management
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.2.4 Pain management Electrotherapy Market by Type
5.2.4.1 Back pain Market size and forecast, by region
5.2.4.2 Neck pain Market size and forecast, by region
5.3 Anxiety and Insomnia Management
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Sports Medicine
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
5.5 Others
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market analysis by country
CHAPTER 6: ELECTROTHERAPY MARKET, BY END USER
6.1 Overview
6.1.1 Market size and forecast
6.2 Hospitals and clinics
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Rehabilitation Centers
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
CHAPTER 7: ELECTROTHERAPY MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Type
7.2.3 North America Market size and forecast, by Application
7.2.3.1 North America Pain management Electrotherapy Market by Type
7.2.4 North America Market size and forecast, by End User
7.2.5 North America Market size and forecast, by country
7.2.5.1 U. S.
7.2.5.1.1 Market size and forecast, by Type
7.2.5.1.2 Market size and forecast, by Application
7.2.5.1.3 Market size and forecast, by End User
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Type
7.2.5.2.2 Market size and forecast, by Application
7.2.5.2.3 Market size and forecast, by End User
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Type
7.2.5.3.2 Market size and forecast, by Application
7.2.5.3.3 Market size and forecast, by End User
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Type
7.3.3 Europe Market size and forecast, by Application
7.3.3.1 Europe Pain management Electrotherapy Market by Type
7.3.4 Europe Market size and forecast, by End User
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Market size and forecast, by Type
7.3.5.1.2 Market size and forecast, by Application
7.3.5.1.3 Market size and forecast, by End User
7.3.5.2 France
7.3.5.2.1 Market size and forecast, by Type
7.3.5.2.2 Market size and forecast, by Application
7.3.5.2.3 Market size and forecast, by End User
7.3.5.3 UK
7.3.5.3.1 Market size and forecast, by Type
7.3.5.3.2 Market size and forecast, by Application
7.3.5.3.3 Market size and forecast, by End User
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Type
7.3.5.4.2 Market size and forecast, by Application
7.3.5.4.3 Market size and forecast, by End User
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Type
7.3.5.5.2 Market size and forecast, by Application
7.3.5.5.3 Market size and forecast, by End User
7.3.5.6 Rest of Europe
7.3.5.6.1 Market size and forecast, by Type
7.3.5.6.2 Market size and forecast, by Application
7.3.5.6.3 Market size and forecast, by End User
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Type
7.4.3 Asia-Pacific Market size and forecast, by Application
7.4.3.1 Asia-Pacific Pain management Electrotherapy Market by Type
7.4.4 Asia-Pacific Market size and forecast, by End User
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Type
7.4.5.1.2 Market size and forecast, by Application
7.4.5.1.3 Market size and forecast, by End User
7.4.5.2 Japan
7.4.5.2.1 Market size and forecast, by Type
7.4.5.2.2 Market size and forecast, by Application
7.4.5.2.3 Market size and forecast, by End User
7.4.5.3 India
7.4.5.3.1 Market size and forecast, by Type
7.4.5.3.2 Market size and forecast, by Application
7.4.5.3.3 Market size and forecast, by End User
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Type
7.4.5.4.2 Market size and forecast, by Application
7.4.5.4.3 Market size and forecast, by End User
7.4.5.5 Rest of Asia-Pacific
7.4.5.5.1 Market size and forecast, by Type
7.4.5.5.2 Market size and forecast, by Application
7.4.5.5.3 Market size and forecast, by End User
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Type
7.5.3 LAMEA Market size and forecast, by Application
7.5.3.1 LAMEA Pain management Electrotherapy Market by Type
7.5.4 LAMEA Market size and forecast, by End User
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Type
7.5.5.1.2 Market size and forecast, by Application
7.5.5.1.3 Market size and forecast, by End User
7.5.5.2 Saudi Arabia
7.5.5.2.1 Market size and forecast, by Type
7.5.5.2.2 Market size and forecast, by Application
7.5.5.2.3 Market size and forecast, by End User
7.5.5.3 South Africa
7.5.5.3.1 Market size and forecast, by Type
7.5.5.3.2 Market size and forecast, by Application
7.5.5.3.3 Market size and forecast, by End User
7.5.5.4 Rest of LAMEA
7.5.5.4.1 Market size and forecast, by Type
7.5.5.4.2 Market size and forecast, by Application
7.5.5.4.3 Market size and forecast, by End User
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Players
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1 Abbott Laboratories
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 AliMed
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 Colfax
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 ems physio ltd
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 HMS Medical system
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 Medtronic, Inc.
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 Omron Healthcare
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 Palex Medical SA
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 Zynex Medical
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 Skin Inc.
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Electrotherapy Market,'. The global electrotherapy market size was valued at $979.0 million in 2021, and is projected to reach $1,636.4 million by 2031, registering a CAGR of 5.3% from 2022 to 2031. Electrotherapy includes a range of treatments using electrical currents to reduce pain and improve blood circulation. It repairs tissues, strengthens muscles, and promotes bone growth, leading to improvement in physical functioning. Different types of electrotherapies such as transcutaneous electrical nerve stimulation, therapeutic ultrasound, electrical muscle stimulation, percutaneous electrical nerve stimulation (PENS) and interferential current (IC) therapy are used to treat chronic pain.Factors that drive growth of the electrotherapy market size include rise in number of electrotherapy industry that manufacture electrotherapy devices, in technological advancement in healthcare sector, and increase in number of medical device manufacturing company. For instance, some of the key industry players operating in the electrotherapy market include Abbott, AliMed, Colfax, EMS Physio Ltd, HMS Medical system, Medtronic, OMRON Healthcare, Palex Medical, Skin Inc., and Zynex Medical. Moreover, rise in prevalence of sport injuries, orthopedic disorders, and other pain-associated disorders drives the demand for treatment through electrotherapy, thereby driving the electrotherapy market trends. According to the Centers for Disease Control and Prevention, (d it was reported that, by 2040, an estimated 78 million (26%) US adults aged 18 years or older are projected to have doctor-diagnosed arthritis. Thus, such rise in prevalence of orthopedic disorders is likely to raise the need for electrotherapy, thereby driving the market growth. Moreover, rise in adoption of non-invasive procedure for treatment of chronic pain drives the growth of electrotherapy market. According to the Journal of devices, in, around 654⋅1 million individuals (40 years and older) were diagnosed with chronic pain in 2020, across the globe.
In addition, rise in number of product launch & approvals related to electrotherapy is anticipated to fuel the electrotherapy market analysis. For instance, in January 2022, Medtronic Plc., a global leader in healthcare technology, announced the approval from the U.S. FDA for Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator for the treatment of chronic pain associated with DPN. Moreover, rise in geriatric population, which is more susceptible to fall injuries & orthopedic disorders, is anticipated to surge the prevalence of chronic pain. This factor fuels the demand for electrotherapy, thereby driving the market growth. According to the World Health Organization’s (WHO’s) estimates of October 2021, 1 in 6 people across the globe will be aged 60 years or over by 2030. Henceforth, increase in geriatric population is anticipated to raise the electrotherapy procedures, thereby contributing to the market growth.
On the basis of type, the market is classified into transcutaneous electrical nerve stimulation, therapeutic ultrasound, and others. Others segment include electrical muscle stimulation, therapeutic ultrasound and interferential current (IC) therapy. The transcutaneous electrical nerve stimulation segment dominated the market in 2021, and is expected to continue this trend during the electrotherapy market forecast period, owing to rise in prevalence of osteoarthritis & diabetes, increase in number of product launch & approvals related to electrotherapy.
By application, the market is classified into pain management, anxiety & insomnia management, sports medicine, and others. Pain management segment is divided into back pain and neck pain. Others segment include veterinary pain management, aesthetics, and face lifting & toning. The pain management segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in prevalence of back & neck pain and technological advancement related to pain management in healthcare sector.
As per end user, the market is bifurcated into hospitals & clinics and rehabilitation centers. The hospitals & clinics segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to rise in number of hospitals, increase in expenditure by government to develop healthcare infrastructure, and rise in number of chronic diseases.
Region wise, North America accounted for a majority of the electrotherapy market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to increase in number of product launch of electrotherapy device, rise in number of product approvals for electrotherapy technological advancement in the healthcare sector, and rise in prevalence of chronic diseases in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to growth in expenditure by government organizations to develop healthcare sector, increase in prevalence of chronic diseases, and rise in the number of electrotherapy industry that manufacture electrotherapy devices.
The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global electrotherapy market share as the pandemic has stressed healthcare systems across the globe. Huge number of clinics & hospitals across the globe were restructured to increase the hospital capacity for the COVID-19 patients. Most of the non-emergency and minor procedures got canceled or postponed during pandemic. Moreover, COVID-19 pandemic caused disruption in consultation for diseases such as orthopedic disorders & diabetes, and for chronic pain. Thu, this factor restrained the demand for electrotherapy procedures as well as their devices. In addition, disruption in supply chain of medical devices due to lockdown rules hindered the market growth. Moreover, decline in the number of consultations of geriatric population, as geriatric population was more susceptible to COVID-19 infection attributed to restrain the growth of electrotherapy market.
Key Findings of The Study
Based on type, the transcutaneous electrical nerve stimulation segment was the highest contributor to the market in 2021.As per application, the pain management segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
By end user, the hospitals & clinics segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
According to region, North America garnered the largest market share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Abbott Laboratories
- Alimed
- Colfax
- Ems Physio Ltd.
- Hms Medical System
- Medtronic, Inc.
- Omron Healthcare
- Palex Medical SA
- Zynex Medical
- Skin Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 280 |
| Published | October 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 979 million |
| Forecasted Market Value ( USD | $ 1636.4 million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
