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Electroconvulsive Therapy Devices Market

Electroconvulsive Therapy Devices Market Size, Share & Trends Analysis Report By Туре (Unіlаtеrаl, Віlаtеrаl), By End-User (Ноѕріtаl, Ѕресіаltу Сlіnісѕ, Меntаl Ноѕріtаl, Оthеrѕ), By Region, And By Segment Forecasts, 2024-2031

Report ID : 2361 | Published : 2024-05-16 | Pages: 180 | Format: PDF/EXCEL

Electroconvulsive Therapy Devices Market Size is valued at USD 16.12 Mn in 2023 and is predicted to reach USD 18.79 Mn by the year 2031 at a 2.01% CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

  • The increasing occurrence of mental disorders such as depression, schizophrenia, and others is one of the primary factors fueling the growth of the electroconvulsive therapy market.
  • The growing applications of ECT are an important driving factor in the electroconvulsive therapy market.
  • North America dominated the market and accounted for a global revenue share in 2023.
  • The social stigma surrounding electroconvulsive therapy (ECT) creates challenges by influencing negative attitudes among patients and healthcare professionals, limiting access to this effective treatment.

Electroconvulsive Therapy Devices Market info

Electroconvulsive Therapy (ECT) devices are specialized medical instruments used to administer ECT, a procedure where seizures are electrically induced in patients under general anesthesia to treat severe mental and psychological illnesses such as major depressive disorder, bipolar disorder, and treatment-resistant schizophrenia. These devices, equipped with electrode pads or caps, a control panel, and monitoring systems, allow healthcare professionals to carefully control and monitor the electric current delivered to the patient's brain, adjusting for intensity, frequency, and duration of pulses. Advances in ECT device technology, anesthesia, and procedural techniques have significantly enhanced the safety and efficacy of ECT, making it a crucial, though sometimes debated, treatment option for certain psychiatric conditions.

It is driven by factors such as the high prevalence of mental disorders as well as increasing demand for technological advancements and increasing awareness among the public. However, side effects such as memory loss associated with ECT may obstruct market growth during the forecast period.

Competitive Landscape

Some Major Key Players In The Electroconvulsive Therapy Devices Market:

  • Mecta Corporation
  • Ectron Ltd.
  • Somatic LLC
  • Abbott
  • Soterix Medical Inc
  • Other Prominent Players

Market Segmentation:

The Electroconvulsive Therapy Devices Market is segmented based on product type and end-user. Based on type, the global electroconvulsive therapy devices market is segmented as unilateral and bilateral. The Electroconvulsive Therapy market is segmented by end-user into hospitals, specialty clinics, mental hospitals, and others. 

Based On End-User, The Hospitals Segment Is A Growth Contributor In The Electroconvulsive Therapy Devices Market.

With time, ECT has come to be recognised as a successful treatment for a number of mental health conditions, including bipolar disorder and severe depression. A greater number of referrals and uses of ECT services inside hospitals may result from this raised awareness. Also, the ECT process is now safer and more bearable for patients thanks to technological advancements in monitoring systems, electrode insertion procedures, and anaesthesia. Hospitals that make these technological investments can experience a rise in the demand for ECT treatments.

Bilateral Segment Led The Electroconvulsive Therapy Devices Market.

Bilateral Electroconvulsive Therapy is a procedure that includes two electrodes placed on the head, and an electric current is delivered through both sides of the brain. This produces bilateral seizures. These Seizures generally last for 25 seconds or even up to one minute. The Procedure depends on factors like age, health condition, seizure threshold, etc.

North America Has A Significant Revenue Share In The Global Electroconvulsive Therapy Devices Market Region.

The market for electroconvulsive treatment in North America is driven by the rise in mental health diseases, growing knowledge of the advantages of ECT, the creation of new equipment, and favourable reimbursement rules. The increasing prevalence of mental diseases is one of the primary factors propelling progress in this field. The cost ratio estimates that one in five Americans experience mental illness. according to a research by the National Alliance on Mental Illness. The increased acceptability of ECT therapy, the development of short pulse therapy devices, and the placement of unilateral electrodes have made it a more popular and successful treatment choice.    

Recent Developments:

  • In March 2024, Soterix Medical announced the launch of the MxN-GO EEG system that integrates high-definition transcranial electrical stimulation (HD-tE) with EEG capabilities. This system is designed to facilitate research applications that require both electrical brain stimulation and activity recording in mobile and natural settings.

Electroconvulsive Therapy Devices Market Report Scope

Report Attribute

Specifications

Market Size Value In 2023

USD 16.12 Mn

Revenue Forecast In 2031

USD 18.79 Mn

Growth Rate CAGR

CAGR of 2.01% from 2024 to 2031

Quantitative Units

Representation of revenue in US$ Mn and CAGR from 2024 to 2031

Historic Year

2019 to 2023

Forecast Year

2024-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

By Type, End-User

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea

Competitive Landscape

Mecta Corporation, Ectron Ltd., Somatic LLC, Abbott, Soterix Medical Inc and Others

Customization Scope

Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Electroconvulsive Therapy Devices Market Snapshot

Chapter 4. Global Electroconvulsive Therapy Devices Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis

5.1. by Type & Market Share, 2019 & 2031

5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:

5.2.1. Unіlаtеrаl

5.2.2. Віlаtеrаl

Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis

6.1. by Application & Market Share, 2019 & 2031

6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

6.2.1. Ноѕріtаlѕ

6.2.2. Ѕресіаltу Сlіnісѕ

6.2.3. Меntаl Ноѕріtаlѕ

6.2.4. Оthеrѕ

Chapter 7. Electroconvulsive Therapy Devices Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031

7.1.2. North America Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2031

7.1.3. North America Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.2. Europe

7.2.1. Europe Electroconvulsive Therapy Device Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031

7.2.2. Europe Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2031

7.2.3. Europe Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.3. Asia Pacific

7.3.1. Asia Pacific Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031

7.3.2. Asia Pacific Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2031

7.3.3. Asia Pacific Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.4. Latin America

7.4.1. Latin America Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031

7.4.2. Latin America Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2031

7.4.3. Latin America Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

7.5. Middle East & Africa

7.5.1. Middle East & Africa Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Type, 2019-2031

7.5.2. Middle East & Africa Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by Application, 2019-2031

7.5.3. Middle East & Africa Electroconvulsive Therapy Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2031

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Mecta

8.2.2. Ectron

8.2.3. I.E. Somatic

8.2.4. St.Jude Medical

8.2.5. Other Prominent Players

Segmentation of Electroconvulsive Therapy Devices Market -

Electroconvulsive Therapy Devices Market By Type-

  • Unilateral
  • Bilateral

Electroconvulsive Therapy Devices Market seg

Electroconvulsive Therapy Devices Market By End-User-

  • Hospitals
  • Specialty Clinics
  • Mental Hospitals
  • Others

Electroconvulsive Therapy Devices Market By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Electroconvulsive Therapy Devices Market Size?

Electroconvulsive Therapy Devices Market is expected to grow at a 2.01% CAGR during the forecast period for 2024-2031.

Mecta Corporation, Ectron Ltd., Somatic LLC, Abbott, Soterix Medical Inc and Others

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