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Global Transcutaneous Electrical Nerve Stimulation Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

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    Report

  • 177 Pages
  • February 2024
  • Infogence Global Research
  • ID: 5820307

Ongoing technological advances and product innovations such as wearable TENS will provide significant growth opportunities to the market

The Global Transcutaneous Electrical Nerve Stimulation Market is estimated to be USD 417.15 Mn in 2023 and is expected to reach USD 512.67 Mn by 2028 growing at a CAGR of 4.21%.

Chronic pain is a serious global health concern. Rising cases of chronic and acute pain drive the market. Over 20% of adults experience chronic pain, which can significantly lower productivity and quality of life. TENS therapy is a non-invasive, medication-free pain management solution that has grown in popularity recently. It is becoming increasingly popular since it is a secure substitute for conventional pain treatment techniques like opioids, which have been linked to addiction and other side effects. The TENS market is expanding due to the rising prevalence of sports injuries and musculoskeletal conditions like arthritis and back pain. The need for TENS devices is also driven by the aging population, which is more prone to chronic pain.

Furthermore, the ineffectiveness of oral medications is leading patients to explore alternative treatment choices, such as electrotherapy devices. In a study published by Practical Pain Management, 14.0% of patients who received codeine reported feeling reduced pain. A lot of patients will forego surgery if there are other options.

However, the market is restrained by adverse effects associated with devices. The negative effects are often transient and minor. It includes skin sensitivity or redness where the electrodes are placed. Particularly at higher intensity settings, it might produce muscle twitching or spasms. Occasionally, some patients may experience an allergic reaction to the electrodes' adhesive. It may result in tingling or numbness, particularly if the electrodes are positioned too close to a nerve. It might obstruct the operation of other medical equipment, such as pacemakers. TENS therapy might result in pain or discomfort if misapplied or the electrodes are positioned incorrectly.

However, the market has an opportunity due to rising technological advancements and modernization in the machinery used in the healthcare sector. It provided various advantages for both patients and healthcare professionals. Creating transportable and simple-to-use TENS devices that patients can use at home is a significant benefit of these developments. These gadgets are handier for patients who need continual TENS therapy since they are lighter, smaller, and easier to use than older ones. A wider variety of settings and functionalities are now available in more advanced devices thanks to the modernization of TENS equipment. These devices can be adapted to each patient's unique requirements and programmed to deliver a variety of frequencies, pulse widths, and intensities. Modern TENS devices also come with cutting-edge safety features like automatic shut-off and overcurrent prevention that help to shield patients from harm and safeguard their safety. In addition to being more dependable and long-lasting than earlier models, these gadgets also require fewer repairs and replacements overall. TENS therapy is now combined with various treatment methods, including acupuncture, massage therapy, and physical therapy, thanks to the modernization of TENS equipment and expanding technical breakthroughs. This integration makes patient pain treatment programs more thorough and efficient. Avail is an over-the-counter electrotherapy device from Omron Healthcare that offers safe and efficient drug-free pain treatment. It is a TENS device with wireless and dual-channel functionality that relieves acute and chronic pain. Throughout the projected period, these developments are anticipated to promote market expansion in the area.
  • However, the market is challenged by a lack of skilled or trained physicians. It is a significant problem that may affect patient treatment and results. TENS therapy necessitates the assistance of a medical specialist familiar with its principles and use and can offer patients the right direction and counsel. However, there is a shortage of medical personnel training in TENS therapy, which may prevent patients from receiving the best care possible. This may result in improper TENS therapy use, improper device programming, and improper electrode positioning, all of which may have adverse effects or provide insufficient pain relief. Particularly acute shortages of TENS therapy-trained doctors exist in some geographic locations or healthcare settings, such as rural areas or community health clinics. Patients in these situations might not have easy access to medical personnel skilled in TENS therapy, which could lead to insufficient or delayed care.

Market Segmentations

  • The Global Transcutaneous Electrical Nerve Stimulation Market is segmented based on Type, Product, Application, End-User, and Geography.
  • By Type, the market is classified into Conventional TENS(High), Acupuncture-like TENS(Low), and Brief Intense TENS.
  • The conventional TENS segment dominates the market. It is a therapy that stimulates the nerves and lessens pain by using a tiny device to emit electrical impulses through the skin. It has been utilized for many years as a non-invasive, secure therapy alternative to control pain. It is frequently used to treat diseases like fibromyalgia, arthritis, and chronic pain. A traditional TENS treatment involves applying electrodes to the skin close to the painful location and turning on the machine to provide low-frequency electrical impulses. The body naturally produces endorphins to help with pain are released as these impulses pass through the nerves.
  • By Product, the market is classified into Portables TENS and Tabletop TENS.
  • Portable TENS are widely used to treat chronic pain from arthritis, ease muscle spasms, prevent muscle atrophy, and improve blood circulation. The Portable TENS segment dominated the market. The rise of immobile patients is ascribed to reasons including the rising need for gadgets for at-home usage and the expanding geriatric population. Also, because TENS units are compact and easily identifiable, one can keep one in their pocket or fasten it to their belt to guarantee they always have access to pain relief, whether they are at home or on the go. Hence, all these aforementioned reasons are contributing to the segment expansion. Also, due to advantages including a reduction in patient doctor visits, the portable TENS category is predicted to grow at the quickest CAGR during the projection period.
  • By Application, the market is classified into Acute Pain and Chronic Pain.
  • The Acute Pain segment held the largest share of the market. Acute pain is further sub-segmented into sports injuries, postoperative pain, labor pain, and menstrual pain. The leading causes of this kind of pain are surgery, trauma, sports-related injuries, and other disorders. The likelihood of injury is rising as more people engage in sports and leisure activities. For instance, according to Stanford Children's Health, approximately 3.5 million injuries among children and teenagers in the U.S. are reported each year. The total market will soon improve due to increased surgical procedures and rising healthcare costs. Opioids are frequently used to treat postoperative pain. However, the adverse effects of these pharmaceuticals have increased the focus on device-based pain management therapies, such as TENS, which has helped the market growth over the projected period.
  • By End-User, the market is classified into Hospitals, Physiotherapy Clinics, Rehabilitation Centers, Home Care, and Others.
  • The Physiotherapy Clinics segment held the largest share. The market is segmented into hospitals, physiotherapy clinics, rehabilitation centers, and home care. One of the main factors influencing the growth of this market is the increasing preference of physiotherapists for electrotherapies over manual treatments. The primary drivers predicted to drive the segment growth are rising patient visits for stimulation therapies and the accessibility of these therapies at reasonable prices at physiotherapy clinics. Furthermore, the category growth during the projection period is projected to be driven by the medical reimbursement offered to patients seeking these therapies.
  • By Geography, the market is classified into the Americas, Europe, Middle East & Africa, and Asia-Pacific.
  • Americas dominated the market with its market revenue share and is likely to maintain its position over the forecast period. The region's market is expanding thanks to essential players, significant government investments in creating novel medical devices, and the early release of TENS devices. Additionally, it is anticipated that the strong consumer spending power and greater use of cutting-edge technologies and novel medical gadgets will fuel market expansion. Also, significant public & private funding initiatives are in place, particularly in the United States, to raise awareness of advanced gadgets. Many programs, like the US Affordable Care Act (ACA), aim to reduce medical equipment prices.
  • Moreover, the most frequent reason for emergency room visits in this area is acute pain. Each year, about 45 million people have inpatient surgery, which causes excruciating pain. According to the CDC, osteoarthritis affects 32.5 million adults in the United States as of July 2019. The Arthritis Association estimates that in Canada, 20% of the population, or 1 in 5 persons, will have arthritis by 2021. The prevalence of chronic pain diseases such osteoarthritis, back pain, and fibromyalgia is increasing due to the increasing adoption of a sedentary lifestyle, which is fueling the expansion of the market in this area. For instance, the National Fibromyalgia Organization estimates that 10 million Americans had fibromyalgia as of August 2019. This has increased the TENS device market to help treat chronic pain. Moreover, Medicare's insurance coverages for TENS devices and the existence of significant market competitors are anticipated to fuel market expansion in the United States further.

Recent Development

  • Cionic Neural Sleeve has been granted Food and Drug Administration (FDA) clearance for functional electrical stimulation to assist in gait for people with foot drop and leg muscle weakness. - March 2022
  • CUTERA, Inc. announced the launch of the next generation of truSculpt flex. The new truSculpt flex+ rapid treatment mode takes Cutera's proprietary Multi-Directional Stimulation to the next level offering the same toning, firming, and strengthening results in a fraction of the treatment time. - December 2021
  • Synapse Biomedical had received the U.S. FDA Emergency Use Authorization (EUA) for its TransAeris- a diaphragm stimulator that assists Covid-19 patients in getting off mechanical ventilation. - April 2020

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Abbott Laboratories, Aleva Neurotherapeutics, BioMedical Life Systems, Bioness, Boston Scientific, Chirag Electronics, S.m.r.a, Cochlear, etc.

Countries Studied

  • America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
  • Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
  • Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
  • Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
  • The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

  • The report presents a detailed Ansoff matrix analysis for the Global Transcutaneous Electrical Nerve Stimulation Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
  • The publisher analyses the Global Transcutaneous Electrical Nerve Stimulation Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
  • Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Global Transcutaneous Electrical Nerve Stimulation Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The research report also provides a detailed market size analysis and projections in volume and value terms. The projections are calculated using verified research methodologies.
  • Excel data sheet for the market size will also be provided with the report.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 on the market is also featured in the report.
  • The report includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report includes Self-Assessment Form, which helps customers evaluate their position in the market compared to their competitors.
  • The report offers customized research - tailored uniquely to our customers with a quick turnaround time. We offer a 15% customization option at no extra charge to all our clients for any of our syndicated reports.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Impact Analysis - a comprehensive assessment to confront risk and make strategic & operational decisions to counter the changes in the market environment.
  • Market segmentation
  • Competitive Analysis: Comparative analysis of competitor
  • Historical, current, and projected size of the market based on value and volume
  • Market size of the US states
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations, and Outlook
4 Market Dynamics
4.1 Impact Analysis
4.2 Drivers
4.2.1 Rising Cases of Chronic and Acute Pain
4.2.2 Ineffectiveness of Oral Drugs and Low Preference for Surgical Intervention
4.2.3 Rising Demand for Reduced Hospital Stay
4.2.4 Rising Cases of Anterior Cruciate Ligament (ACL) Tear, Hip Flexor Strain, and Hamstring Strain
4.3 Restraints
4.3.1 Adverse Effects Associated with Devices
4.3.2 Increased Cost of Nerve Stimulation Therapy
4.4 Opportunities
4.4.1 Rising Technological Advancements and Modernization in the Healthcare Machinery
4.4.2 Rising Research and Development Activities in the Healthcare Sector
4.5 Challenges
4.5.1 Lack of Skilled or Trained Physicians
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTEL Analysis
5.4 Impact of Covid-19
5.5 Ansoff Matrix Analysis
6 Global Transcutaneous Electrical Nerve Stimulation Market, By Type
6.1 Introduction
6.2 Conventional TENS(High)
6.3 Acupuncture-like TENS(Low)
6.4 Brief Intense TENS
7 Global Transcutaneous Electrical Nerve Stimulation Market, By Product
7.1 Introduction
7.2 Portables TENS
7.3 Tabletop TENS
8 Global Transcutaneous Electrical Nerve Stimulation Market, By Application
8.1 Introduction
8.2 Chronic Pain
8.2.1 Arthritis
8.2.2 Back & Neck Pain
8.2.3 Fibromyalgia
8.2.4 Neuropathic Pain
8.2.5 Others
8.3 Acute Pain
8.3.1 Sports Injuries
8.3.2 Postoperative Pain
8.3.3 Labor Pain
8.3.4 Menstrual Pain
9 Global Transcutaneous Electrical Nerve Stimulation Market, By End-User
9.1 Introduction
9.2 Hospitals
9.3 Physiotherapy Clinics
9.4 Rehabilitation Centers
9.5 Home Care
9.6 Others
10 Americas' Transcutaneous Electrical Nerve Stimulation Market
10.1 Introduction
10.2 Argentina
10.3 Brazil
10.4 Canada
10.5 Chile
10.6 Colombia
10.7 Mexico
10.8 Peru
10.9 United States
10.10 Rest of Americas
11 Europe's Transcutaneous Electrical Nerve Stimulation Market
11.1 Introduction
11.2 Austria
11.3 Belgium
11.4 Denmark
11.5 Finland
11.6 France
11.7 Germany
11.8 Italy
11.9 Ireland
11.10 Luxembourg
11.11 Netherlands
11.12 Norway
11.13 Poland
11.14 Russia
11.15 Spain
11.16 Sweden
11.17 Switzerland
11.18 United Kingdom
11.19 Rest of Europe
12 Middle East and Africa's Transcutaneous Electrical Nerve Stimulation Market
12.1 Introduction
12.2 Egypt
12.3 Israel
12.4 Nigeria
12.5 Qatar
12.6 Saudi Arabia
12.7 South Africa
12.8 United Arab Emirates
12.9 Rest of MEA
13 APAC's Transcutaneous Electrical Nerve Stimulation Market
13.1 Introduction
13.2 Australia
13.3 Bangladesh
13.4 China
13.5 India
13.6 Indonesia
13.7 Japan
13.8 Malaysia
13.9 Philippines
13.10 Singapore
13.11 South Korea
13.12 Sri Lanka
13.13 Thailand
13.14 Taiwan
13.15 Rest of Asia-Pacific
14 Competitive Landscape
14.1 Competitive Quadrant
14.2 Market Share Analysis
14.2.1 M&A and Investments
14.2.2 Partnerships and Collaborations
14.2.3 Product Developments and Improvements
15 Company Profiles
15.1 Abbott Laboratories
15.1.1 Company Overview
15.1.2 Company Snapshot
15.1.3 Product Overview
15.1.4 Business Overview
15.1.5 SWOT Analysis
15.1.6 Recent Development
15.2 Aleva Neurotherapeutics SA
15.2.1 Company Overview
15.2.2 Company Snapshot
15.2.3 Product Overview
15.2.4 Business Overview
15.2.5 SWOT Analysis
15.2.6 Recent Development
15.3 BioMedical Life Systems
15.3.1 Company Overview
15.3.2 Company Snapshot
15.3.3 Product Overview
15.3.4 Business Overview
15.3.5 SWOT Analysis
15.3.6 Recent Development
15.4 Bioness, Inc.
15.4.1 Company Overview
15.4.2 Company Snapshot
15.4.3 Product Overview
15.4.4 Business Overview
15.4.5 SWOT Analysis
15.4.6 Recent Development
15.5 Boston Scientific Corp.
15.5.1 Company Overview
15.5.2 Company Snapshot
15.5.3 Product Overview
15.5.4 Business Overview
15.5.5 SWOT Analysis
15.5.6 Recent Development
15.6 Chirag Electronics Private Ltd., S.m.r.a
15.6.1 Company Overview
15.6.2 Company Snapshot
15.6.3 Product Overview
15.6.4 Business Overview
15.6.5 SWOT Analysis
15.6.6 Recent Development
15.7 Cochlear Ltd.
15.7.1 Company Overview
15.7.2 Company Snapshot
15.7.3 Product Overview
15.7.4 Business Overview
15.7.5 SWOT Analysis
15.7.6 Recent Development
15.8 Cogentix Medical, Inc.
15.8.1 Company Overview
15.8.2 Company Snapshot
15.8.3 Product Overview
15.8.4 Business Overview
15.8.5 SWOT Analysis
15.8.6 Recent Development
15.9 Cyberonics, Inc.
15.9.1 Company Overview
15.9.2 Company Snapshot
15.9.3 Product Overview
15.9.4 Business Overview
15.9.5 SWOT Analysis
15.9.6 Recent Development
15.10 Djo Global, Inc.
15.10.1 Company Overview
15.10.2 Company Snapshot
15.10.3 Product Overview
15.10.4 Business Overview
15.10.5 SWOT Analysis
15.10.6 Recent Development
15.11 ElectroCore, Inc.
15.11.1 Company Overview
15.11.2 Company Snapshot
15.11.3 Product Overview
15.11.4 Business Overview
15.11.5 SWOT Analysis
15.11.6 Recent Development
15.12 EMS Physio Ltd.
15.12.1 Company Overview
15.12.2 Company Snapshot
15.12.3 Product Overview
15.12.4 Business Overview
15.12.5 SWOT Analysis
15.12.6 Recent Development
15.13 Globus Medical, Inc.
15.13.1 Company Overview
15.13.2 Company Snapshot
15.13.3 Product Overview
15.13.4 Business Overview
15.13.5 SWOT Analysis
15.13.6 Recent Development
15.14 Medtronic PLC
15.14.1 Company Overview
15.14.2 Company Snapshot
15.14.3 Product Overview
15.14.4 Business Overview
15.14.5 SWOT Analysis
15.14.6 Recent Development
15.15 NeuroMetrix, Inc.
15.15.1 Company Overview
15.15.2 Company Snapshot
15.15.3 Product Overview
15.15.4 Business Overview
15.15.5 SWOT Analysis
15.15.6 Recent Development
15.16 NeuroPace, Inc.
15.16.1 Company Overview
15.16.2 Company Snapshot
15.16.3 Product Overview
15.16.4 Business Overview
15.16.5 SWOT Analysis
15.16.6 Recent Development
15.17 Nevro Corp.
15.17.1 Company Overview
15.17.2 Company Snapshot
15.17.3 Product Overview
15.17.4 Business Overview
15.17.5 SWOT Analysis
15.17.6 Recent Development
15.18 OMRON Corp.
15.18.1 Company Overview
15.18.2 Company Snapshot
15.18.3 Product Overview
15.18.4 Business Overview
15.18.5 SWOT Analysis
15.18.6 Recent Development
15.19 R-slimming Medical Systems
15.19.1 Company Overview
15.19.2 Company Snapshot
15.19.3 Product Overview
15.19.4 Business Overview
15.19.5 SWOT Analysis
15.19.6 Recent Development
15.20 Uroplasty, Inc.
15.20.1 Company Overview
15.20.2 Company Snapshot
15.20.3 Product Overview
15.20.4 Business Overview
15.20.5 SWOT Analysis
15.20.6 Recent Development
15.21 Zynex Medical
15.21.1 Company Overview
15.21.2 Company Snapshot
15.21.3 Product Overview
15.21.4 Business Overview
15.21.5 SWOT Analysis
15.21.6 Recent Development
16 Appendix
16.1 Self-Assessment Form

Companies Mentioned

  • Abbott Laboratories
  • Aleva Neurotherapeutics SA
  • BioMedical Life Systems
  • Bioness, Inc.
  • Boston Scientific Corp.
  • Chirag Electronics Private Ltd., S.m.r.a
  • Cochlear Ltd.
  • Cogentix Medical, Inc.
  • Cyberonics, Inc.
  • Djo Global, Inc.
  • ElectroCore, Inc.
  • EMS Physio Ltd.
  • Globus Medical, Inc.
  • Medtronic PLC
  • NeuroMetrix, Inc.
  • NeuroPace, Inc.
  • Nevro Corp.
  • OMRON Corp.
  • R-slimming Medical Systems
  • Uroplasty, Inc.
  • Zynex Medical