GLOBAL ELECTROCONVULSIVE THERAPY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)
Global Electroconvulsive Therapy Market, By Product Type (Unilateral Electroconvulsive Therapy, Bilateral Electroconvulsive Therapy), By Application (Major Depressive Disorder (MDD), Bipolar Disorder, Schizophrenia , Others), By End User (Hospitals & Clinics, Ambulatory Surgical Centers, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
North America is expected to be the largest market for electroconvulsive therapy during the forecast period, accounting for over 35.7% of the market share in 2023. The North America electroconvulsive therapy market is driven by rising number of mental health disorders, increasing awareness about ECT benefits, development of new devices and supportive reimbursement policies. Growing acceptance of ECT therapy and development of brief pulse therapy devices and unilateral electrode placements has made it safer and more efficient treatment option.
Asia Pacific market is expected to be the second-largest market for electroconvulsive therapy market, accounting for over 25.2% of the market share in 2023. The Asia Pacific electroconvulsive therapy market is driven by the increasing burden of neurological and mental health disorders, growing awareness about ECT, and technological advancements enabling safer administration of ECT.
Europe market is expected to be the fastest-growing market for electroconvulsive therapy market, with a share of 19% during the forecast period. The Europe electroconvulsive therapy market is driven by growing prevalence of mental health disorders, increasing awareness about effectiveness of ECT, and rising healthcare expenditure in European countries. Growing geriatric population is also prone to Alzheimer's and mood disorders which act as a high impact driver. However, social stigma associated with ECT procedure and preference of psychiatrists for other alternative therapies hampers the market growth.
Geographies covered:
North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC Countries, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Central Africa
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