Product Innovation May Ward Off Declining Demand for Muscle Stimulation Devices; Global Market to Remain Sluggish Through 2028
Application of Novel Nerve Stimulation Device to Offer New Dimension to Stroke Care, Improving Overall Quality of Life
Muscle Stimulation Devices Market
In terms of revenue, the global muscle stimulation devices market is expected to register ...
The performance of the global muscle stimulation devices market is expected to witness immensely impactful developments, with potential improvements in the recovery of stroke through nerve stimulation. With rising rate of AIS (acute ischemic stroke), the focus has been shifted to improving the associated stages of stroke care, including prevention, intervention, and rehabilitation. The Ohio State University has been conducting a new clinical trial to shorten the motor skills recovery period in stroke patients, via VNS (vagus nerve stimulation).
The trial involves the use of a device - Vivistim, which has been developed by MicroTransponder, a Dallas-based company. The device functions by coupling VNS with the muscle movement, during rehabilitation. It is supposed to build up the motor function, learning, and memory, drastically improving the post-stroke outcome thereby. This nerve stimulation therapy, if used in tandem with appropriate interventions, can potentially result in excellent rehabilitation, minimizing the impact of complications that may follow the treatment process. If Vivistim delivers positive results and enables stroke patients to regain their motor function early, the market participants may witness multiple doors of opportunities in the rehabilitative treatment area.
Key Companies to Focus on Strong Distribution Channel Development & Suppliers to Strengthen Presence in Emerging Markets
New and innovative product launches such as wireless devices are being considered by manufacturers as the key to achieve enhanced device capabilities, which is presumed to trigger sales in long term. To expand market shares and improve distribution network through the next decade, several players are prioritizing strategic partnerships, i.e. distribution agreements for their product offerings. Enhanced distribution will also help the stakeholders penetrate various untapped regional markets.
Key players in the global muscle stimulation devices market are focusing on development of new pain management methods and techniques. Adoption of innovative marketing strategy by muscle stimulation device manufacturers is attributed to their gradually increasing market value share. Increased focus on strengthening of distribution channel will reportedly be the key for market expansion in emerging economies. On the flipside, suppliers are likely to consider patient needs as a top priority, while ensuring the supply of high-quality products to end users. Stakeholders are strengthening product portfolio by launching new products with improved features, and through strategic mergers and acquisitions. Moreover, a growing number of local players in the muscle stimulation devices market is expected to result in creating a fragmented market, since the market is already led by smaller-sized firms catering to domestic customer demands.
Muscle Stimulation Devices to Face Passive Growth
Despite immense scope for innovation in product development and applications, the global market for muscle stimulation devices is projected to observe sluggish growth over the next decade. As prompted by a recent research study by Future Market Insights, the global muscle stimulation devices market will expand at a CAGR of 3.9% during 2018-2028, attaining a value of over US$ 870 Mn by 2028 end. High price point will remain a longstanding factor limiting widespread adoption of muscle stimulators. Stringent regulatory norms regarding the launch and use of muscle stimulation devices is also anticipated to hinder market growth in upcoming decade.
By value, North America and Western Europe are expected to represent the dominant markets for muscle stimulation devices, whereas developing economies such as APEJ, Latin America, and Eastern Europe will reportedly exhibit relatively promising performance over the projection period. For more interesting insights on the global market scenario for muscle stimulation devices, write in to expert analysts at email@example.com
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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