Pune, April 03, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Healthcare market research firm has published a competitive intelligence market research report on the “Shockwave Therapy Market“. The Shockwave Therapy market size was valued at USD 1.26 Bn in 2022. The total Shockwave Therapy Market revenue is expected to grow at a CAGR of 6.9 percent from 2022 to 2029, reaching USD 2.15 Bn during the forecast period.
| Market Size in 2022 | USD 1.26 Bn |
| Market Size in 2029 | USD 2.15 Bn |
| CAGR | 6.9 percent (2023-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 282 |
| No. of Tables | 129 |
| No. of Charts and Figures | 121 |
| Segment Covered | By Technique, Application, End-User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Shockwave Therapy Market Scope and Research Methodology
The report on Shockwave Therapy Market provides an in-depth analysis of the industry. Key highlights of the report include the market size and the growth rate. Key insights of the report include the major applications and drivers of the market, challenges to growth and opportunities for Shockwave Therapy market growth. The report covers a thorough regional analysis of the Shockwave Therapy industry at the local, regional and global levels.
The report covers the Shockwave Therapy market strategies followed by major players and provides their analysis based on growth in the last few years in the industry which helps investors and major companies decide their investments and make data-driven decisions. The primary and secondary research method was used to collect the data from the Shockwave Therapy market. Key players in Shockwave Therapy Market are identified through secondary research. Secondary research was used to collect information for the extensive, market-oriented, and commercial analysis of the Shockwave Therapy Market. Regional analysis of the Market is conducted at the country, regional and global levels.
Shockwave Therapy Market Overview
Shockwave Therapy also known as Piezowave Therapy is a non-invasive therapy for musculoskeletal discomfort that uses sound wave pulses to repair and regenerate damaged muscle areas. Shockwave Therapy has been beneficial to the general population, especially chiropractic patients suffering from sports accidents or constant muscular pain. Some of the factors driving the shockwave therapy market during the forecast period include increasing patient demand for shockwave therapy, neurological side effects of the COVID-19 pandemic, an increase in orthopedic diseases, and an increase in R&D by leading manufacturing companies working on new shockwave therapies globally.
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Rise in the prevalence of musculoskeletal disorder to drive the Market
Shockwave Therapy treats a variety of joint problems. According to the MMR study, approximately 20.3 million individuals in the UK have a musculoskeletal disease such as arthritis or back discomfort, accounting for nearly one-third (32%) of the population. Musculoskeletal disorders affect individuals of all ages, but they become more prevalent with age and are more common in women. The changing use of extracorporeal shock wave treatment in the management of musculoskeletal and neurological conditions is anticipated to fuel market development during the forecast time frame.
The increasing use of Shockwave Therapy Treatments by numerous athletes to treat injuries drives the Shockwave Therapy Market.
Shockwave therapy is a secure and dependable treatment that enables athletes to recover quicker and return to their activity. Shockwave treatment also provides players with reduced discomfort from accidents and faster muscle regeneration. The increased demand for sports and the number of accidents among the younger population has boosted demand for the Shockwave Therapy market during the forecast period.
Increase in expenditures in research and development efforts for the creation of medical devices in the healthcare sector has generated new possibilities for the shockwave therapy market during the forecast period. Thus, rising treatment costs and post-treatment adverse effects are among the primary factors impeding the development of the shockwave therapy market during the forecast period.
North American region is expected to boost the Shockwave Therapy Market growth
North American region dominated the Shockwave Therapy Market in terms of revenue in 2022 and is expected to grow at a high growth rate over the forecast period. The presence of numerous prominent key players in the region, as well as advancements in shockwave treatment technology, is expected to fuel the development of the Shockwave therapy market during the forecast period. The existence of well-established healthcare sectors, a growing geriatric population, and the increasing incidence of sports-related injuries and cardiovascular diseases push the shockwave treatment market. Furthermore, pharmaceutical companies' growing expenditure in R&D efforts to develop technologically sophisticated medical devices through innovative research is expected to drive the Shockwave Therapy Market in the region.
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Shockwave Therapy Market Segmentation
By Technique:
- Electrohydraulic Shock Waves
- Piezoelectric Shock Waves
- Radial Shock Waves
- Other
Based on the Technique, the Electrohydraulic Segment is expected to hold the largest market share during the forecast Period.
Electrohydraulic shock wave therapy is increasingly being used to treat lithotripsy in the geriatric population. Traditional surgical techniques are not generally chosen for treatment because of the comorbidities associated with the actual issue in the geriatric community. This treatment is extensively used in physiotherapy for orthopedic issues in the geriatric population. As a result, the growing elderly population around the globe is a major factor driving the development of the Shockwave Therapy market.
By Application:
- Orthopedic
- Cardiology
- Urology
- Other
Based on the Application, the orthopedic segment has the highest Shockwave Therapy Market Share in 2021 because of the increases in the prevalence of musculoskeletal disorders, sports-related injuries, arthritis, and bone diseases, as well as rising geriatric populations.
By End User:
- Hospitals
- Clinics
- Other
Based on the end user, the hospital segment dominated the global market in 2021 because of the advantages offered such as individualized therapeutic, and emergency care for patients with symptoms of chronic muscular disorders, back and neck pain along with sports injuries.
Shockwave Therapy Market Key Players Include:
- Dornier MedTech GmbH
- Zimmer MedizinSysteme GmbH
- Medtrue Enterprise Co. Ltd.
- MS Electro Medical Systems S.A.
- BTL Corporate
- Bio-Med Inc.
- DJO Global Inc.
- MTS Medical
- Lumenis Ltd.
- Edaptms TMS
- Boston Scientific Corporation
- C.R. Bard Inc.
- Cook Group Inc.
- Olympus Corporation
- Inceler Medikal Co. Ltd.
- EMS Dolorclast
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Key questions answered in the Shockwave Therapy Market are:
- What is Shockwave Therapy?
- What was the Shockwave Therapy market size in 2021?
- What is the expected Shockwave Therapy market size by 2029?
- What is the growth rate of the Shockwave Therapy Market?
- Which are the factors expected to drive the Shockwave Therapy market growth?
- Which factors are expected to restrain the Shockwave Therapy market growth?
- Which segment dominated the Shockwave Therapy market growth?
- What is the demand pattern for the Shockwave Therapy market?
- Which region held the largest share in the Shockwave Therapy market?
- Who are the key players in the Shockwave Therapy market?
Key Offerings:
- Past Market Size and Market Competitiveness (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Challenges and Key Trends by region
- Market Segmentation – A detailed analysis by Breast Cancer Type, Cancer Stages, Drug Type, Drug Mechanism, Types Of Drug Treatment, Route of Administration, Distribution Channel
- Competitive Landscape –A detailed scenario of the competitive environment in the global market
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region based on Technique, application, end-user, and region.
- Market Consolidations – Mergers, Acquisitions, Joint Ventures, Partnerships.
- Company Profiles – Business Overview, Financial Overview, Business Strategy, SWOT Analysis, Recent Development.
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Key Takeaways
- Industry Recommendations
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