U.S. Electro-medical And Electrotherapeutic Apparatus Market To Reach $37.91 Billion By 2030

U.S. Electro-medical And Electrotherapeutic Apparatus Market Growth & Trends

The U.S. electro-medical and electrotherapeutic apparatus market size is anticipated to reach USD 37.91 billion by 2030, and is expected to expand at a CAGR of 6.4% during the forecast period, according to a new report by Grand View Research, Inc. Key factors driving market growth include the increasing prevalence of chronic disorders, advancements in technology, the growing preference for minimally invasive treatment options among patients and, the rising geriatric population. For instance, according to data from the Population Reference Bureau, the number of Americans aged 65 and older is projected to rise from 58 million in 2022 to 82 million by 2050, representing a 47% increase. By 2050, this age group is expected to account for 23% of the total U.S. population, up from 17% in 2022.

The growing prevalence of chronic disorders is a major concern in the U.S., with diseases such as diabetes, cardiovascular conditions, respiratory disorders, and neurological diseases such as Alzheimer's and Parkinson's becoming increasingly common. For instance, according to the American Diabetes Association, in 2021, 38.4 million Americans, or 11.6% of the population, were living with diabetes. Among them, 2 million individuals have type 1 diabetes, including approximately 304,000 children and adolescents. These conditions place a significant strain on healthcare systems and demand advanced diagnostic, therapeutic, and monitoring solutions. As the population ages and lifestyle factors contribute to the rise of these chronic illnesses, the need for effective management and treatment options continues to grow, driving the demand for electro-medical and electrotherapeutic devices.

Technological advancements are expected to significantly boost the growth of the U.S. electro-medical and electrotherapeutic apparatus market as companies continue to innovate and introduce new, advanced products. Market players are increasingly focused on developing advanced devices that address the evolving healthcare needs of patients and healthcare providers. A key aspect of this innovation is the integration of advanced technologies such as artificial intelligence, wearable devices, and continuous monitoring systems into medical equipment. As a result, companies are seeking regulatory approvals from government bodies, such as the U.S. Food and Drug Administration (FDA), to bring these new technologies to market. In June 2024, Abbott announced that the FDA had cleared two new over-the-counter continuous glucose monitoring (CGM) systems – Lingo and Libre Rio. Both products are built on Abbott's well-established FreeStyle Libre CGM technology, which is already used by around 6 million people globally. These innovations reflect the ongoing efforts of companies to enhance healthcare solutions and meet the growing demand for advanced, accessible diagnostic tools. 

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U.S. Electro-medical And Electrotherapeutic Apparatus Market Highlights

• Diagnostic equipment segment dominated the product segment by capturing a share of 38.2% in 2024.

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

• On the basis of application cardiology segment held the largest market share by capturing a share of 28.3% in 2024.

• Neurology segment is expected to grow at a fastest rate during the forecast period.

• Among end use, hospitals held a majority share of the market of 45.8% in 2024.

• Diagnostic centers segment is expected to grow at a fastest rate over the forecast period.

U.S. Electro-medical And Electrotherapeutic Apparatus Market Segmentation

Grand View Research has segmented the U.S. electro-medical and electrotherapeutic apparatusmarket, on the basis of product, application, and end use:

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

• Diagnostic Equipment

• Therapeutic Equipment

• Surgical Devices

• Patient Assistive Devices

• Others

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

• Cardiology

• Neurology

• Oncology

• Orthopedics

• Gynecology

• Urology

• Others

U.S. Electro-medical And Electrotherapeutic Apparatus End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Ambulatory Surgical Centers

• Diagnostic Centers

• Others

List of Key Players in the U.S. 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