New technological advancements in upcoming magnetic therapy devices such as introduction of microTesla magnetic field therapy and extremely low frequency magnetic field (ELF MF) based magnetic therapy, along with wide adoption for magnetic therapy devices among end users has reported to be a key driving factor for revenue growth in global magnetic therapy devices market. The introduction of home magnetic therapy devices is projected to be another primary factor driving growth of magnetic therapy devices market over the forecast years.
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Magnetic Therapy Devices Market: Segmentation
The global magnetic therapy devices market is classified on the basis of product type, magnetic field therapy type, application, end user and region.
Based on product type, magnetic therapy devices market is segmented into following:
- Constant Energy Magnets
- Pulsed Electro-Magnetic Field Energy
Based on magnetic field therapy type, magnetic therapy devices market is segmented into following:
- microTesla Magnetic Field Therapy
- Extremely Low Frequency Magnetic Field (ELF MF) Therapy
Based on application, magnetic therapy devices market is segmented into following:
- Multiple Sclerosis
- Scalp Acupuncture
- Pain Management
- Arthritis
- Soft Tissue Injuries
- Bone Fracture Healing
- Others
Based on end user, magnetic therapy devices market is segmented into following:
- Hospitals
- Specialty Clinics
- Homecare Settings
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Magnetic Therapy Devices Market: Key Players
Some of the key magnetic therapy devices manufacturers present across the globe are EMD Medical Technologies, Iskra Medical d.o.o., Curatronic Ltd., Swiss Bionic Solutions Holding GmbH, BEMER and others.
Magnetic Therapy Devices Market: Regional Overview
Among the regional presence, North America is projected to be most lucrative market for magnetic therapy devices due to growing prevalence of various diseases such as arthritis and ever increasing patient pool opting for advanced pain management solutions. Europe followed by East Asia is anticipated to be second largest revenue generating market for magnetic therapy devices due to presence of high number of regional device manufacturers along with advanced healthcare infrastructure in the region. Also, North America and Europe cumulatively accounts for a significant revenue share in magnetic therapy devices market due to favorable regulatory scenario present in the region for approval of magnetic medical devices. Middle East and Africa therefore is expected to register sluggish growth in magnetic therapy devices owing to poor adoption for magnetic therapy treatment procedures over conventional medications.
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