Market Overview:
Shock wave therapy is a non-invasive treatment used in wide areas of medical field, such as urology, cardiology, orthopedics, and physical therapy, among others. It is an alternative for orthopedic surgeries. In clinical studies, around 91% of the patients reported successful results, including an increase in mobility, decrease in chronic pain, and other health improvements. Shock wave therapy is used to treat a variety of musculoskeletal conditions, particularly those affecting medium to large sized tendons and their insertions on the bone. It is a non-surgical treatment, and works by delivering impulses of energy, targeted to specific damaged tissues within the abnormal tendon. Shock wave therapy stimulates cell regeneration and healing, increases the blood flow within the affected area, and decreases local factors which can cause pain. Thus, there is an increasing demand for shock wave therapy devices worldwide.
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Competitive Landscape:
Major players operating in the global shock wave therapy devices market are C.R. Bard Inc., Seimens AG, Karl Storz GmbH, Cook Group Inc., Edaptms TMS, Medtrue Enterprise Co. Ltd., Olympus Corp., Dornier MedTech GmbH, Lumenis Ltd., and Boston Scientific Corporation, among others.
Key Market Drivers:
High prevalence of musculoskeletal disorders across the globe is expected to propel growth of the shock wave therapy devices market during the forecast period. Musculoskeletal conditions are the leading contributor to disability worldwide. Musculoskeletal disorders are injuries or disorders of the muscles, nerves, tendons, joints, cartilage, and spinal discs. For instance, as per the World Health Organization (WHO), around 1.71 billion people have musculoskeletal conditions worldwide. Among musculoskeletal disorders, low back pain causes the highest burden with a prevalence of 568 million people.
Moreover, increasing demand for shock wave therapy devices, growing geriatric population, and established healthcare infrastructure is expected to augment the growth of the shock wave therapy devices market. For instance, in April 2019, Medytox Korea launched HNT Medical’s Carewave, Korea’s first extracorporeal shock wave equipment for erectile dysfunction, which is approved by the Ministry of Food and Drug Safety.
COVID-19 Impact Analysis:
Many patients with COVID-19 (coronavirus disease) suffer from shortness of breath and severe chest pain. Radial extracorporeal shock wave therapy to support breathing in case of COVID-19. This type of noninvasive, non-pharmacologic treatment can help many COVID-19 patients or patients who still suffer from breathing problems weeks after having been infected with COVID-19, giving them back quality of life. This therapy is considered safe, non-invasive, low cost, and without the dangers of the surgical procedure and postoperative pain. This in turn is expected to boost the growth of the market.
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Key Takeaways:
The shock wave therapy devices market is expected to exhibit a CAGR of XX % during the forecast period owing to the growing incidence of cardiac ischemia, kidney stones, and erectile dysfunction. For instance, in January 2021, Alma announced the launch of Alma Duo, a revolutionary treatment for men. Alma Duo has been clinically validated to improve blood flow and bring spontaneity back to men’s lives using the gold standard in shock wave technology-focused low-intensity extracorporeal shock wave therapy (LI-ESWT).
Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the shock wave therapy devices market, owing to the increasing prevalence of musculoskeletal disorders, huge patient pool with pain management, rise in preference to non-invasive technologies, and growing demand for technologically advanced shock wave therapy devices in these regions. For instance, in February 2021, the U.S. Food and Drug Administration (FDA) approved the Shockwave intravascular lithotripsy (IVL) system for the treatment of severely calcified coronary artery plaques.
Reasons to Purchase this Report
• Current and future of global Shock Wave Therapy Devices market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Shock Wave Therapy Devices Market Size Analysis
11.6 COVID-19 Outbreak: Shock Wave Therapy Devices Industry Impact
Chapter 2 Global Shock Wave Therapy Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Shock Wave Therapy Devices (Volume and Value) by Type
2.3 Global Shock Wave Therapy Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Shock Wave Therapy Devices Sales, Consumption, Export, Import by Regions
Chapter 5 North America Shock Wave Therapy Devices Market Analysis
Chapter 6 East Asia Shock Wave Therapy Devices Market Analysis
Chapter 7 Europe Shock Wave Therapy Devices Market Analysis
Chapter 8 South Asia Shock Wave Therapy Devices Market Analysis
Chapter 9 Southeast Asia Shock Wave Therapy Devices Market Analysis
Chapter 10 Middle East Shock Wave Therapy Devices Market Analysis
Chapter 11 Africa Shock Wave Therapy Devices Market Analysis
Chapter 12 Oceania Shock Wave Therapy Devices Market Analysis
Chapter 13 South America Shock Wave Therapy Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Shock Wave Therapy Devices Business
Chapter 15 Global Shock Wave Therapy Devices Market Forecast (2021-2028)
Chapter 16 Conclusions
Research Methodology
Continued….
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