Electro-medical And Electrotherapeutic Apparatus Market To Reach $95.5 Billion By 2030

Electro-medical And Electrotherapeutic Apparatus Market Growth & Trends

The global electro-medical and electrotherapeutic apparatus market size is anticipated to reach USD 95.5 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to grow at a CAGR of 6.4% from 2025 to 2030. Key factors driving market growth include the increasing geriatric population, advancements in technology, rising awareness among patients about diagnostic and treatment options, and the growing prevalence of various chronic disorders. For instance, the International Agency for Research on Cancer reported approximately 19,976,499 new cancer cases and 9,743,832 cancer-related deaths worldwide in 2022.

The growing prevalence of chronic disorders such as cancer, cardiovascular diseases, and neurological conditions necessitates the need for effective diagnostic and treatment solutions. Electro-medical and electrotherapeutic apparatus play a crucial role in addressing this need by offering efficient and advanced devices that support accurate diagnoses, monitor patient conditions, and deliver therapeutic treatments. These devices are essential in improving patient outcomes and managing chronic conditions more effectively. Advancements in technology is further expected to contribute to overall market growth. For instance, in April 2024, Soterix Medical Inc., a global leader in non-invasive brain stimulation and complementary monitoring technologies, announced the launch of the MxN-GO EEG. This innovative system combines High-Definition transcranial Electrical Stimulation (HD-tES) with EEG, featuring a unique untethered design.

Strategic initiatives by key market players, such as mergers and acquisitions, product launches, regulatory approvals, partnerships, collaborations, research and development (R&D) efforts, and expansion, are essential in driving the growth of the market. For example, in July 2024, Philips, a global leader in health technology, announced a partnership with Star Imaging in Pune to establish a first-of-its-kind MRI Training School in India. This institution will offer internationally recognized training on MRI technologies across 17 sub-specialties.

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Electro-Medical And Electrotherapeutic Apparatus Market Report Highlights

• In 2024, the diagnostic segment dominated the product segment by capturing a share of 37.9%.  

• The therapeutic equipment segment is anticipated to grow at the fastest CAGR during the forecast period.

• Cardiology segment held the largest market share in the application segment by capturing a revenue share of 26.9% in 2024.

• The neurology segment is expected to grow at the fastest rate during the forecast period.

• Among end use, hospitals held a majority share of the market of 46.5% in 2024.

• The ambulatory surgical centers segment is expected to grow at the fastest rate over the forecast period.

• North America dominated the market with a share of 47.0% in 2024.

Electro-Medical And Electrotherapeutic Apparatus Market Segmentation

Grand View Research has segmented the global electro-medical and electrotherapeutic apparatus market based on product, application, end use, and region:

Electro-medical And Electrotherapeutic Apparatus Product Outlook (Revenue, USD Million, 2018 - 2030)

• Diagnostic Equipment

• Therapeutic Equipment

• Surgical Devices

• Patient Assistive Devices

• Others

Electro-medical And Electrotherapeutic Apparatus Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiology

• Neurology

• Oncology

• Orthopedics

• Gynecology

• Urology

• Others

Electro-medical And Electrotherapeutic Apparatus End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Ambulatory Surgical Centers

• Diagnostic Centers

• Others

Electro-medical And Electrotherapeutic Apparatus Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Argentina

  • Mexico

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Electro-medical And Electrotherapeutic Apparatus Market

• GE HealthCare

• Koninklijke Philips N.V.

• Siemens Healthineers AG

• Medtronic

• Abbott

• Boston Scientific Corporation

• Fujifilm Holdings Corporation

• Zimmer Biomet

• Nihon Kohden Corporation

• OMRON Healthcare, Inc.

• Invacare Corporation