According to Precedence Research, the global shockwave therapy market size is expected to surpass around USD 3.1 billion by 2030 and it is poised to grow at a CAGR of 11.12% from 2022 to 2030.

Ottawa, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The global shockwave therapy market size was valued at USD 1.33 billion in 2022. The shockwave therapy market mainly deals with multi-disciplinary device is better made use of in various surgical procedures relating to the orthopedics sector and sports medicine. With the increase in the sport tournament which are organized worldwide the number of sports injuries have increased to a great extent. These sport injuries require speedy recovery along with faster pain relief.

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The need for restoring the mobility of the patients is very important in order to maintain their stand in the world competition. In the cardiovascular diseases and urological disorders which require greater precision and accuracy. The number of chronic diseases that have increased worldwide as a result of the rapid urbanization and modernization require d to be treated with advanced technologies.

Regional Snapshots

The North American market has shown the fastest growth as a result of the huge population suffering with chronic diseases pertaining to the rapid modernization of lifestyle. The large number of people belonging to the geriatric age group has led to the increasing chronic ailments in the society which require advanced technologies and equipment for treatment which can heal faster with lesser side effects.

Asia Pacific region shows a significant growth in the sector as a result of the developing status of the countries. Lack of medical facilities and supplies in these countries lead to the development of chronic ailments which require shockwave therapy for better recovery. The European nations show a considerable growth during the forecast period as a result of the increasing chronic diseases among the people.

Scope of the Report

Report Attributes	Details
Market Size in 2021	USD 1.2 Billion
Revenue Forecast by 2030	USD 3.1 Billion
CAGR	11.12% from 2022 to 2030
Largest Market	North America
Largest Market	Asia Pacific
Base Year	2021
Forecast Year	2022 to 2030
Key Players	Dornier MedTech GmbH, Zimmer MedizinSysteme GmbH, Medtrue Enterprise Co. Ltd., MS Electro Medical Systems S.A., BTL Corporate, Lumenis Ltd., Edaptms TMS, Boston Scientific Corporation, C.R. Bard Inc., Cook Group Inc., Olympus Corporation

Report Highlights

• By product type, the mobile software therapy devices have showed the maximum growth because of its accelerating and ease of access. This is for the followed by the fixed type of shockwave therapy devices.
• By technique, the electrohydraulic shock waves prove to be the largest segment which is mainly used in the hospitals for obtaining accurate results in the radial software therapy along with the electromagnetic segment are the further types discussed in the report.
• By diseases type, the long bone fractures and the extremity injuries prove to be a potential market for this sector. The cardiovascular system disorders show a large revenue return during the forecast period. Urological conditions also contribute considerably during the forecast period.
• By end users, the hospital sector is the leading market for shockwave therapy as a large population walks in daily with their ailments to be treated. The clinics and laboratories form the next smaller sectors which fall later in line.

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Market Dynamics

What are the market drivers of shock wave therapy market?

• Sports injury forms the largest market for the shockwaves therapy which helps to heal the injuries faster by reducing the pain of the injured patient within a shorter period of time than usual. The increasing competition among the countries worldwide the requirement and demand for shockwave therapy has increased tremendously.
• The increasing ailments and chronic diseases among the population has also led to the increase in demand for better and advance technologies for therapeutic purposes. Cardiovascular diseases and urological disorders are mainly treated using these advanced methods where results are obtained with greater precision and accuracy.
• The congenital disorders too find an important place in this technology. Orthopedic surgeries are carried out easily with accuracy with the help of these shockwave therapies. The pain of the individual is managed quickly with faster healing processes. These multiple benefits prove to be the driving factors for the market during the forecast period.
  
  

What are the restraints of shock wave therapy market?

• The high cost which is associated with these advanced technologies and procedures cannot be afforded by the developing and under developed countries which forms a great barrier for the market to grow during the forecast period. The lower socioeconomic status of the countries makes it impossible for them to opt for such advanced facilities and treatments. The awareness regarding the availability of this procedures is also very less among these nations.
• A huge amount of investment is required in order to setup in the equipments which are required for performing these advanced procedures. The government needs to take official steps in order to make the facilities available to the common man at cheaper rates. On the other hand, the manufacturers of these devices and equipments might have to face the losses as a result of the unfordable crowd residing in these countries.

Which are the opportunities of shock wave therapy market?

• Rapid increase in the number of chronic diseases that people are suffering with helps the market to record a higher revenue during the forecast period. The increasing sedentary lifestyle practices which are followed in the post covid phase are giving rise to chronic spinal ailments and back problems. These disorders require proper management and treatment in order to achieve best results.
• The number of cardiovascular diseases that have increased among the people as a result of the sedentary lifestyle practices proves to be a great opportunity for the shocked therapy market. Laco physical activity among the people also increases the number of chronic diseases in the society.
• The various benefits and schemes that are provided by the developed nations to their citizens helps them to enjoy these advanced facilities easily. The easier reimbursement facilities and insurance services that are provided to the people in the development nations makes it affordable for them to opt for such procedures with advanced technology.
  
  

What are the challenges of shock wave therapy market?

• The high cost associated with these advanced techniques proves to be a challenge for the market growth during the forecast period.
• Lack of health care facilities in the under developed and developing nations hinders the growth of the market.
• The strict lockdowns and restricted movement during the pandemic had challenged the growth of the market.
  
  

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Recent Developments

• Shockwave are combined with high energy producing laser devices in order to increase its precision and efficiency by the use of SWT which is a product that is introduced by the BTL limited. It is mainly put into use in the sports medicine and veterinary services.
  
  

Market Segmentation

By Technique

• Radial Shock Waves
• Electromagnetic Shock Waves
• Electrohydraulic Shock Waves
• Piezoelectric Shock Waves
• Others
  
  

By Product

• Fixed Shockwave Therapy Devices
• Mobile Shockwave Therapy Devices

By Diseases

• Medial Tibial Stress Syndrome
• Upper & Lower Extremity Tendinopathies
• Long Bone Fracture
• Plantar Fasciopathy
• Avasive Necrosis
• Others

By Application

• Urology
• Cardiology
• Orthopedic
• Others

By End User

• Hospitals
• Clinics
• Diagnostic Laboratories
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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