Global Magnetic Therapy Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Magnetic Therapy Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A magnetic therapy device is a medical device that uses artificial magnetic fields to be applied to human meridians, acupoints and lesions to treat certain diseases. Magnet therapy generally uses a magnetic plate placed on the surface of point or around meridians in order to treat particular disease. The magnetic therapy devices are used to treat various disease indications including multiple sclerosis, arthritis, soft tissue injuries, healing bone fractures and pain management.

Market Overview:

The latest research study on the global Magnetic Therapy Devices market finds that the global Magnetic Therapy Devices market reached a value of USD 702.6 million in 2022. It’s expected that the market will achieve USD 937.35 million by 2028, exhibiting a CAGR of 4.92% during the forecast period.

Advances in technology and research

Enterprises' research and investment in magnetic therapy devices is increasing, and related technologies are constantly maturing and improving. NASA has used PEMF for years. In fact, they've already invested $3.5 million into further research of pulsed electromagnetic field therapy studies. NASA has developed its own PEMF devices that are being used to reverse bone loss experienced by astronauts in outer space, due to their loss of Earth's magnetic field. Plus, PEMF can be utilized to heal broken bones that were unable to heal despite repeated surgical attempts. NASA has also found PEMF works for repairing traumatized tissues and for developing tissues for transplantation.

Lack of skilled professionals

The research on magnetic therapy is still in progress, and the related theoretical research cannot be said to be fully mature, and there is a shortage of talents in this specialty. The lack of understanding of the mechanisms by which some healthcare professionals heal bone effects, and the potential for unskilled manipulation of differentiated products, will pose challenges to product adoption. The lack of researchers in magnetic therapy will also challenge the more scientific progress of the industry.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects

Company Overview

Orthofix Holdings is one of the major players operating in the Magnetic Therapy Devices market, holding a share of 28.33% in 2022.

Orthofix Holdings

Since 1980, Orthofix has evolved and grown to become one of the leading medical device companies with a spine and orthopedics focus in the world.

Swiss Bionic Solutions

Swiss Bionic Solutions is a global health and wellness company focusing on pulsed electro-magnetic fields.

Segmentation Overview:

Among different product types, Pulsed Electro-Magnetic Field Energy segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Bone Fracture Healing segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Magnetic Therapy Devices market covered in Chapter 3:

BEMER
Advanced Medical Systems (AMS)
Zimmer Biomet, Inc
DJO
Orthofix Holdings
Curatronic
OMI
ORIN
Swiss Bionic Solutions

In Chapter 4 and Chapter 14.2, on the basis of types, the Magnetic Therapy Devices market from 2018 to 2029 is primarily split into:

Constant Energy Magnets
Pulsed Electro-Magnetic Field Energy

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Magnetic Therapy Devices market from 2018 to 2029 covers:

Multiple Sclerosis
Scalp Acupuncture
Pain Management
Arthritis
Soft Tissue Injuries
Bone Fracture Healing
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)