Global PEMF Therapy Device Market - 2022-2029

Global PEMF Therapy Device Market - 2022-2029

Market Overview

PEMF Therapy Device Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX % during the forecast period (2022-2029).

PEMF (Pulsed electromagnetic field) therapy uses pulsating magnetic fields and is applied using PEMF devices. Pulsed electromagnetic field therapy is also known as low field magnetic stimulation therapy, in which electromagnetic field is used to heal non-union fractures and depression. The electromagnetic exchange between cells is one of the body's important functions. Nothing happens in the body without an electromagnetic exchange between cells. Natural electromagnetic energy controls human chemistry. PEMF therapy treats cervical osteoarthritis, knee osteoarthritis, and chronic lower back pain. Pulsed electromagnetic field therapy has various applications, such as healing wounds, restoring normal potential, reducing swelling, and regenerating tissue regeneration. An increase in the incidence of sports injuries during sports and a rise in the risk of fractures due to falls & road accidents are the factors projected to drive the global pulsed electromagnetic field therapy devices market. Moreover, an increase in the geriatric population, a surge in awareness, and a rise in the prevalence of non-union fractures are anticipated to propel the global market.

Market Dynamics: Increasing awareness regarding the benefits of electromagnetic therapy drives market growth.

The rising wellness market, coupled with the growing expenditure and acceptance of alternative therapy, is the market's prime mover of pulsed electromagnetic field therapy devices. The growing awareness and the complementary influence of yoga and alternative therapies are generating a great demand for the pulsed electromagnetic field therapy devices market. The large economic burden coupled with the large prevalence of non-union fractures, which account for almost 12 % of the total fracture cases, is driving a large adoption of pulsed electromagnetic field therapy devices. The growing geriatric population, increase in risk factors associated with fractures such as accidents and falls, and growing sports culture are the demographic drivers of the market. The number of people aged 60 years or older is expected to rise from 900 million to 2 billion between 2015 and 2050, representing a growth from 12% to 22% of the total global population, according to a 2021 World Health Organization report.

However, a lack of understanding of the mechanism hampers the market growth. The PEMF therapy device market is constrained by poor experimental validation and the lack of understanding of the mechanism of the bone healing effect achieved by pulsed electromagnetic field therapy. The inconclusive and insufficient evidence, coupled with the lack of support from the mainline clinical practice professionals, has greatly limited the application of the pulsed electromagnetic field therapy devices. The FDA approves pulsed electromagnetic field therapy devices. However, pulsed electromagnetic field therapy devices must be marketed as wellness products. They are restrained from making claims of effectiveness for treating diseases, laying them open to criticism as superficial externalities and pseudoscience.

Market Segmentation: Low frеquеnсу devices segment will project the fastest growth in the market throughout the forecast period

PEMF therapy device is further segmented on the basis of types which includes low frеquеnсу and high frеquеnсу.

Low-frequency devices are gaining traction in the market due to their limited side effects and are more affordable than high-frequency PEMF therapy devices. Gоvеrnmеnts rulеѕ and rеgulаtіоnѕ on the uѕаgе of thіѕ dеvісеѕ with rеѕресt оf еlесtrоmаgnеtіс wаvеѕ and ѕоmе ѕіdе еffесtѕ from thеѕе dеvісеѕ like раіn, nаuѕеа, dіzzіnеѕѕ еtс. responsible to dесrеаѕе the market growth of the high-frequency PEMF therapy device market.

PEMF therapy device is further segmented on the basis of application which includes bone growth and pain relief.

Еlесtrоmаgnеtіс Thеrару dеvісеѕ are соmmоnlу uѕеd in pain relief treatments. The pain relief segment dominated the market in the forecast period due to the increased prevalence of chronic pain during sports and road accidents. In terms of end-user, the market can be divided into hospitals, home care settings, and others.

Geographical Penetration: North America is the dominating region during the forecast period.

Based on geography, the study analyzes the PEMF therapy device market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America dominated the global market in forecast period due to the presence of key players and the rise in the prevalence of sports injuries. According to the U.S. Centers for Disease Control and Prevention (CDC), participation in organized sports is on the rise. More than 3.5 million kids under 14 receive medical treatment for sports injuries each year. The market in Europe is projected to be driven by the rising prevalence of arthritis and injuries. The pulsed electromagnetic field therapy devices market in the Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to an increase in the number of road accidents, a surge in the geriatric population, and a rise in the prevalence of osteoarthritis. Moreover, changing lifestyles, obesity, and an ageing population are the factors expected to drive the market in the region. According to the Ministry of Health and Family Welfare, Government of India, osteoarthritis is the second most common disease in India and is more prevalent in women than men.

Competitive Landscape:

The PEMF therapy device market is highly competitive, owing to the presence of big food brands. The key PEMF therapy device players which are contributing to the growth of the global market include Oxford Medical Instruments Health Store, Nuage Health, Orthofix Holdings, Inc., I-Tech Medical Division, Pulsed Energy Technologies LLC, Swiss Bionic Solutions, SEDONA Wellness Ltd., Pulse Centers, and BioBalance, Orthofix Medical Inc., Dolphin Neurostim, BEMER AG, BEIJING (Suzhou) Medical Technology Co., Ltd., Jiangsu Alphay Medical Device Co., Ltd., Guangdong Owgels Technology Co., Ltd., Shenzhen Guangyang Zhongkang Technology Co., Limited, Wuhan Yuanguang Ruikang Technology Co., Ltd., among others. The major players are adopting new product launches and expansion strategies for global growth in the PEMF therapy device market. In May 2022, Orthofix Medical Inc. received the United States Food and Drug Administration granting pre-market approval for the AsselStim bone healing class 3 device. This device provides a safe, effective non-surgical treatment for indicated fresh fractures and fractures that have not healed. The product generates low-Intensity Pulsed Ultrasound signals to stimulate the bone's natural healing process to promote fracture healing. Also, in August 2021, BEMER launched a portable PEMF device set. This portable set uses a low-intensity pulsed electromagnetic field to enhance muscle conditioning, strength, performance and recovery. The Go-Edition is classified as a Class II cleared FDA medical device and included: B.SPOT and B.PAD, B.BOX, B.SCAN, Rechargeable Battery & Car Adapter and Custom Backpack. This device set stimulates muscle tissue and supports overall health.

COVID-19 Impact: Positive impact on the global PEMF therapy device market.

The COVID-19 pandemic has boosted the growth of the PEMF therapy device market, as few studies are being published on using PEMF therapy devices for the prevention or treatment of COVID-19. PEMF therapy devices help positively charge body cells, which are beneficial in preventing cell clumping together due to the Rouleaux effect. It means that body cells can continue functioning as normal and are thus able to deliver oxygen throughout the body. It is helpful for the proper functioning of the immunity system to function properly, which is helpful in fighting Covid 19. Also, this device is helpful for overall cellular functioning, providing various health benefits. It has become popular post the outbreak of COVID-19 globally. Therefore, considerable growth in the PEMF therapy devices market value can be expected in 2020.

The global PEMF therapy device market report would provide an access to approximately 68 market data tables, 48 figures and 170 pages