Global Electroconvulsive Therapy Devices Market, in terms of revenue, was estimated to be USD 15.35 Million in 2021 and is expected to reach USD 17.58 Million in 2028, growing at a CAGR of 1.96% from 2022 to 2028.
The study provides a crucial view of global Electroconvulsive Therapy Devices Market by segmenting the market based on product type, application and region. On the basis of product type, global electroconvulsive therapy devices market is segmented as unilateral and bilateral. On the basis of application, the market is segmented into hospitals, specialty clinics, mental hospitals and others. The regions covered in global electroconvulsive therapy devices market are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global electroconvulsive therapy devices market sub-divided into U.S., Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Brazil, Mexico, GCC, Africa, etc.
ECT is treatment considered as most safe and effective for certain psychiatric illnesses. ECT is the most common treatment executed for severe or major type of depression. Though, the mechanism of action for this treatment is not fully known. It is said to be affecting central nervous system components such as hormones, neurotransmitters, neurotropic factors and neuropeptides. ECT is a procedure, done under general anesthesia, in which small electric currents are passed through the brain, intentionally triggering a brief seizure.
Electroconvulsive therapy is a medical process used to facilitate the treatment of various psychiatric illnesses such as schizophrenia, depression, Parkinson disease, and obsessive-compulsive disorder (OCD), among others. Under this procedure, minor units of electric currents are passed through the human brain which causes a brief seizure. The patient is initially injected with general anaesthesia before undergoing the treatment to avoid feeling the seizure induced discomfort and pain. Some of the commonly used equipment during this therapy are an oxygen delivery system, blood pressure measurement device, electrocardiographic device, along with a pulse oximetry measurement device.
Growing prevalence of psychiatric ailments, rise in the geriatric population base, and technological advancements in the field are primarily augmenting the outlook of this business vertical.Electroconvulsive Therapy Devices Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate ECT Market place for the forecast 2022– 2028.
The safety and efficacy pertaining to this therapy along with growing R&D activities in the field are adding momentum to the expansion of this industry sphere. Besides, increasing mental health awareness is another growth catalyst for the Global Electroconvulsive Therapy Devices Market. Moreover, it has been medically proven that excessive alcohol and tobacco consumption leads to the occurrence of various mental illnesses. With changing lifestyle habits and increased work-related stress, people are being drawn towards excessive smoking and alcohol consumption. This in turn is accelerating the progression of this business sphere.
The efficacy of this treatment procedure in patients who don’t show any response to antipsychotic medications is stimulating the overall dynamics of this industry. On the contrary, the risks of side effects induced by ECT-triggered seizures is hampering the development of this market. Considering the geographical frame of reference, North America is reckoned to capture a substantial revenue share over the forecast duration. This is attributable to the growing pervasiveness of mental illness, increasing healthcare expenditure, rapidly evolving healthcare infrastructure, along with rising efforts of raise mental health awareness among the masses.
ECT appears to cause changes in brain chemistry that can rapidly reverse symptoms of certain mental health conditions. Furthermore, changing lifestyle and increasing exposure to harmful toxins are also expected to attribute to the increasing usage of the device. The occurrence of schizophrenia was approximately 1.1% for the 18 years and above population in 2010. According to the report of National Alliance on Mental Illness, 1 out of 5 adults in the US experience mental illness. Additionally, increasing smoking rate, tobacco consumption and incidence of bacterial infection causing mental instability are the factors primarily responsible for growing cases of mental disorder. According to World Health Organization (WHO), in 2015, over 1.1 billion people smoked tobacco globally. So, increasing long term use of substance abuse linked to depression and anxiety (for example, smoking and tobacco consumption) is expected to increase the usage of ECT devices and foster the market growth within the forecast period.
North America held the largest market share of xx% in 2018. In North America the United States is one and the major revenue contributing countries will always have a special role in the global market. High prevalence of mental disorders is one of the key growth factor in this region. According to the report of National Alliance on Mental Illness, 1 out of 5 adults in the US experience mental illness.
|Historical data||2015 - 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 15.35 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 17.58 Million|
|Tables, Charts & Figures:||175|
|Companies||Mecta, Ectron, I.E. Somatic, St.Jude Medical, Others|
|Segments Covered||By Type, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|