Electrotherapy Market Size, Share, Growth Analysis, By Type(Transcutaneous Electrical Neural Stimulation (TENS), Electronic Muscle Stimulator (EMS), Interferential Stimulator (IF), High Voltage Pulsed Galvanic Stimulator (HVPGS)), By End User(Hospitals & Clinics, Rehabilitation Centers, Long Term Centers), By Region - Industry Forecast 2024-2031

Electrotherapy Market size was valued at USD 0.80 billion in 2022 and is poised to grow from USD 0.83 billion in 2023 to USD 1.12 billion by 2031, at a CAGR of 3.8% during the forecast period (2024-2031)

The global rise in obesity rates has played a significant role in driving the electrotherapy market. Obesity is associated with various musculoskeletal and pain-related conditions, such as arthritis and back pain.

Technological advancements, rising obesity rates, increasing healthcare expenses, and a growing number of sports injuries are significant drivers of the electrotherapy market's growth. For example, exercise-related injuries accounted for the highest number of injuries among various sports and entertainment categories, according to the National Safety Council (NSC), with approximately 468,000 reported injuries. Bicycling, football, and basketball followed closely behind, with 417,000, 404,000, and 292,000 injuries, respectively.

The increasing frequency and incidence of sports injuries contribute to the demand for electrotherapy, thereby driving the market's compound annual growth rate (CAGR). The rise in healthcare expenditure globally further supports the growth of the electrotherapy market. The World Health Organization (WHO) reports a continuous increase in global health spending, with low- and middle-income countries experiencing a 6% rise and high-income countries experiencing a 4% rise. In addition to public healthcare expenditure, investments from manufacturers, the introduction of new products in the intracranial hemorrhage diagnosis and treatment field, and venture capital funding are expected to drive revenue growth in the electrotherapy market in the coming years.

US Electrotherapy Market is poised to grow at a sustainable CAGR for the next forecast year.