Market Challenges: Preference for alternative therapies

The preference for alternative therapies among people is a major factor restraining the growth of the global transcutaneous electrical nerve stimulation market. Many people experiencing pain prefer to try alternative therapies like acupuncture, yoga, meditation, or herbal medicines before adopting methods like TENS. Alternative therapies are generally considered more natural and have fewer side effects than options involving medical devices or pharmaceutical drugs. This perception has led many to first exhaust alternative options to pain relief through lifestyle and dietary changes or complementary practices. Only when alternative therapies provide inadequate relief do people consider methods like TENS involving a device. Furthermore, the growth of the alternative therapy industry has made these options much more accessible and acceptable worldwide. For example, practices like acupuncture or yoga have grown enormously in popularity in western nations over the past two decades. The National Health Interview Survey conducted by the Centers for Disease Control and Prevention found the share of U.S. adults using yoga, chiropractic/osteopathic manipulation, and meditation had doubled between 2002 and 2012.

Market Opportunities: Emerging economies offer attractive opportunities for investment.

Emerging economies present significant opportunities for growth in the global transcutaneous electrical nerve stimulation market. Many developing nations are undergoing rapid digitalization and have a young population receptive to new technologies. These nations are also investing heavily in expanding access to healthcare through both public and private investments. A key factor driving the market is the increasing availability of affordable TENS devices in emerging countries. Various device manufacturers and medical technology companies have launched low-cost versions of TENS machines tailored for consumers in price-sensitive markets. This has made TENS therapy an accessible option for pain relief even in rural and underserved areas. According to the Indian Brand Equity Foundation, the Indian medical devices market is projected to reach US$50 billion by 2025, boosted by government initiatives for inclusive healthcare and growth in domestic manufacturing. Indian companies are producing affordable TENS machines and electrodes, tapping into vast unmet needs within the country.