Global Muscle Stimulation Devices Market: Overview
Used to stimulate motor nerves, muscle stimulation devices are set to witness surge in demand over the forecast period of 2019 to 2027. They use reasonably low voltage and that adds to their popularity. As per Transparency Market Research, the global muscle stimulation devices market will record steady growth over the stated period. And, multiple trends and growth drivers will keep the market buoyant. Some of the reasons include benefits such as non-evasive electrotherapy, cheaper option and portability, reduction in pain, no side effects, and growing number of people opting for physical exercises, where these devices can be used to aid warm-up and even rehabilitation in case of an injury. It is quite pertinent to note here that impressive opportunities will arise as a result of this growth.
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Global Muscle Stimulation Devices Market: Competitive Landscape
The competitive vendor landscape of global muscle stimulation devices market is witnessing players taking active measures to battle out competition. A keen focus is on improving distribution channels and developing innovative products. Various strategies such as forging strategic alliances based on mutual synergies, and technological advancement are also often deployed. These strategies and measures opted for in order to carve a sizeable share of the revenue also lead to growth in the market.
Renowned and proactive names in the fragmented vendor landscape of global muscle stimulation devices market are the following:
- NeuroMetrix, Inc.
- OMRON Corporation
- BioMedical Life Systems, Inc.
- Zynex, Inc.
- EMS Physio Ltd.
- DJO Global, Inc.
- Beurer GmbH
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Global Muscle Stimulation Devices Market: Key Trends and Drivers
A slew of growth factors have been identified by Transparency Market Research for the forecast period. From the extensive list of trends and drivers that are provided in the global muscle stimulation devices market in the upcoming market research report, the prominent ones are detailed out below:
- Cases of chronic pain and muscle injuries are increasing and that is driving-up demand for muscle stimulation devices. This is a result of growth in number of people opting for sports. Besides, there is technological advancement and adoption of state-of-the-art techniques is supporting the growth further. Players in the market are also highly focused on this aspect.
- Geriatric population is increasing in the world. People aged 60 and above will grow to a number of 2 billion by 2050, a marked increase from 2017’s 960 million (approximately). Besides, over the world, one in every six people will be aged 65and above. This will drive demand for these devices by a considerably value
Global Muscle Stimulation Devices Market: Regional Analysis
Over the forecast period, while North America is anticipated to dominate the global muscle stimulation devices market, it is Asia Pacific which is set to record a stellar growth rate. The former would reap benefits of presence of prominent market players marking its landscape, technological advancement and adoption, and increasing investments poured in by government. Number of sports injuries in the region is also quite high. This, therefore, is set to contribute to growth in the global muscle stimulation devices market. The latter, on the other hand, will grow at the back of growing adoption of pain management therapies, increasing awareness regarding health and fitness, leading to increase in sports participation, and exercise, and adoption of smart devices my more and more people in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.