Market Trends of Pulse Electromagnetic Field Therapy Devices Industry
Hospitals and Clinics Segment is Expected to Hold a Significant Market Share
Pulse electromagnetic field therapy devices are mainly used in hospitals and clinics for patient recovery. The rising incidences of fractures due to accidents, sports injuries, fall from a certain height, and indications such as knee pain, joint pain, and arthritis are factors that drive the segment's growth.
For instance, as per the Sports Accident Statistics report updated by LegalMatch in August 2022, injuries to the anterior cruciate ligament (ACL) occur roughly 150,000 times every year in the United States. In addition, female basketball and soccer players had an ACL injury 2 to 8 times more frequently than other athletes. This prevalence of a high number of sports-related injuries in the region is expected to boost the demand for soft PEMF devices in hospitals and clinics.
According to an article published by Public Library of Sciences One in June 2022, the five most dangerous sports that caused the highest number of injuries in 2021 were basketball with 2,823 injury cases, American football with 1,719, soccer with 1,289, baseball with 347, and boxing with 247 injury cases. As per the same source, sprains and strains were the most frequent injuries for the three most dangerous sports in the United States, accounting for 37% of all basketball injuries, compared to 29% for soccer and 26% for American football. Thus, the high number of sports injuries is expected to boost the adoption of PEMF therapy devices in hospitals and clinics.
Thus, the rising prevalence of accidents and sports injuries is expected to boost the segment's growth during the forecast period.
North America is Expected to Hold a Significant Share of the Market Over the Forecast Period
The rising number of patients experiencing osteoporosis and osteoarthritis is projected to boost the demand for pulse electromagnetic field therapy devices in the region. Besides, the rising sports injuries in the region and the increasing presence of key market players are also expected to boost the market's growth in North America.
For instance, according to an article published by OTA International in June 2022, around 53 million Americans either carry a diagnosis of osteoporosis or are at risk for fracture due to decreased bone mass. Thus, the high prevalence of osteoporosis is expected to boost the usage of PEMF therapy devices.
The region's high prevalence of collisions and sports injuries is also expected to boost the market's growth. For instance, according to the data published by the National Safety Council of the United States in 2021, around 3.2 million people were treated in emergency departments for injuries involving sports and recreational equipment in the United States. The most common activities frequently associated with injuries were exercise, cycling, and basketball. The injury rate for exercise was 123.8 per 100,000 population in the United States in 2021, 113.7 for bicycles and accessories, 78.6 for basketball, 74.2 for skateboards, scooters, and hoverboards, and 67.2 for football.
Similarly, according to an article published by SpringerLink in September 2022, a study was conducted in Canada, which showed a high rate of injuries among collision sport participants in Canadian high schools. The rates of injuries ranged from 12.7 injuries per 100 participants every year in rugby to 33.1 injuries per 100 participants every year in ice hockey. The prevalence rate for injuries to the head was 33.3%, 16.0% for the wrist or hand, 12.8% for the shoulder, and 12.0% for the knee. Thus, the region's high prevalence of collisions and sports injuries is expected to boost the adoption of PEMF therapy devices.
The increasing developments by key players are also enhancing the market's growth. For instance, in July 2021, Orthofix Medical Inc., a US company, announced the publication of retrospective data evaluating fusion rates in patients receiving three- and four-level lumbar arthrodesis surgery treated adjunctively with the SpinalStim bone growth PEMF therapy device.
Thus, factors such as the rising prevalence of osteoporosis, the increasing collisions and sports injuries, and the key developments by market players are expected to boost the market's growth in North America.
