Shockwave Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Shock Wave Therapy Market Report is Segmented by Technique (Electrohydraulic Shock Waves, Piezoelectric Shock Waves, Radial Shock Waves, and Other Techniques), Application (Orthopedic, Cardiology, Urology, and Other Applications), End User (Hospitals, Clinics, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market size and forecast values are provided in terms of (USD) for all the above segments.

Shockwave Therapy Market Size

Shock Wave Therapy Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR 5.60 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Shock Wave Therapy Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Shockwave Therapy Market Analysis

The shock wave therapy market is anticipated to witness a CAGR of nearly 5.6% during the forecast period.

The healthcare system witnessed enormous challenges as a result of the COVID-19 pandemic. All outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission, as most chronic therapies were regarded as non-urgent. Moreover, with the advent of COVID-19 infection, innovative therapies for infection treatment came into focus. An article published in Medicines and Pharmacology in March 2021 reported the successful treatment of a patient with the diagnosis of COVID-19, severe chest pain, and significant shortness of breath using radial extracorporeal shock wave therapy (rESWT). The article indicated that the non-invasive, non-pharmacologic treatment might help in treating the breathing problems associated with the COVID-19 infection. The rise in the utilization of shock wave therapy for treating SARS-CoV-2-affected patients contributed to the growth of the market during the pandemic. Currently, the market is expected to grow due to the adoption of shock wave therapy for COVID-19 patients and is expected to continue over the forecast period as the prevalence of chronic diseases such as cardiac and musculoskeletal disorders is expected to increase.

The major factors attributing to the growth of the market are the increasing incidences of accidents and sports injuries, the rise in patients with musculoskeletal, urological, and cardiac disorders, and patients undergoing various surgical procedures. For instance, according to the WHO, in 2021, road accidents affected around 40 million people all over the world. Also, as per the same source, developing countries have a high rate of traffic injuries, with major road accidents occurring in low- and middle-income countries. Moreover, according to a report published by the WHO in February 2021, road traffic injuries cost over 3% of countries' GDP every year. The rise in the prevalence of road traffic injuries, which create several musculoskeletal and cardiological problems in injured people, is expected to drive the market.

Also, as per the 'Qatar Monthly Statistics - March 2022' released by the Qatar Planning and Statistics Authority, the number of road accidents in February 2022 was around 682, with a year-on-year increase of about 8.1% from the previous year. The Capital Market Authority of Oman in August 2021 that the total number of traffic accidents in the second quarter of 2021 was around 15,200, a huge increase of 119% from the previous quarter. A large number of road accidents will likely require significant medical attention for the affected passengers, which would provide a lucrative market for shock wave therapy in the region.

Shockwave therapy has multidisciplinary use, as it can be used in orthopedics, physiotherapy, urology, sports medicine, veterinary medicine, rehabilitation centers, and plastic surgery, among others. Thus, shock wave therapy provides faster healing, revascularization, and regeneration of the bones, ligaments, and tendons. For instance, in February 2021, the US FDA granted pre-market approval for severely calcified coronary artery disease Intravascular Lithotripsy (IVL), a sonic pressure wave therapy, for severely calcified coronary artery disease. Such approvals focusing on shock wave therapies are expected to add to the growth of the studied market over the forecast period. However, the high costs associated with the shock wave therapy devices and procedures and the lack of skilled healthcare professionals are likely to hinder the market growth during the study period.

Shockwave Therapy Market Trends

This section covers the major market trends shaping the Shock Wave Therapy Market according to our research experts:

Electrohydraulic Shock Waves Segment Expected to Hold the Largest Market Share During the Forecast Period

High-voltage electrode spark discharge underwater explosions produce electrohydraulic shockwaves, which are high-energy acoustic waves that are then focused by an elliptical reflector and directed toward the sick area to achieve a therapeutic effect. The segment dominance is owed to factors such as higher awareness and application of the technology over the past few years, along with the increased preference among physicians.

Electrohydraulic shock wave therapy has been increasingly utilized in the treatment of lithotripsy in the elderly population. Owing to the comorbidities associated with the real problem in the geriatric population, traditional surgical methods are not usually preferred for treatment. Also, electrohydraulic shock wave therapy is widely used in physiotherapy for orthopaedic concerns in the elderly population. Thus, the rising geriatric population worldwide is a major factor contributing to the market's growth. For instance, according to a Statistics Canada report in April 2022, the 7 million people aged 65 and above accounted for roughly one-fifth of all Canadians (19.0%) last year. The number of seniors aged 65 and older is increasing six times faster than that of children aged 0-14. Therefore, owing to the increasing use of shockwave therapy in the geriatric population and the rising elderly population are expected to be significant factors in the growth of the studied market over the forecast period.

Also, its wide range of applicability in various disorders, including cardiovascular diseases, veterinary medicines, and plastic surgery, resulted in a higher demand for the segment, contributing to a significant share fueling the global market. The key market players have also aided in the growth of the segment. For instance, in October 2021, Zomedica Corp., a veterinary point-of-care diagnostic and therapeutic products provider, acquired Pulse Veterinary Technologies, a leading electro-hydraulic shock wave technology provider for the treatment of a wide variety of conditions in veterinary patients.

Thus, owing to the above-mentioned factors, such as the growing geriatric population and strategic activities by market players, the electrohydraulic shock wave therapy segment is expected to grow significantly over the forecast period.

Shock Wave Therapy Market - Number of People Aged 65 Years or Over (in Billions), Global, 2022-2050

North America Expected to Hold a Significant Market Share over the Forecast Period

North America is expected to dominate the market throughout the forecast period. The dominance is owing to the rapid increase in the geriatric population, highly advanced technology, and established healthcare infrastructure providing the SWT for pain management. Also, the growing incidence of cardiac ischemia, kidney stones, and erectile dysfunction in the United States is expected to add to the market growth in the region.

As per the United States Census Bureau data on Demographic Turning Points for the United States: Population Projections for 2020 to 2060 updated in February 2021, in the United States, the number of people above 65 years of age is projected to reach 73.1 million by 2030 and reach around 94.7 million by 2060, to constitute around 23% of the population in the United States in 2060, showing a positive impact on the market. Also, according to the Action for Seniors report published by the government of Canada in February 2021, the number of people over the age of 65 years living in Canada by 2030 will be around 9.5 million. The rising geriatric population in the region is likely to add to the market growth.

According to the Centers for Disease Control and Prevention 2021 updated statistics, 6 in 10 adults in the United States had at least one chronic disease, and 4 in 10 adults in the United States had two or more chronic diseases. As per the same report, heart disease, cancer, chronic lung disease, stroke, Alzheimer's disease, diabetes, and chronic kidney disease are posing around USD 3.8 trillion in annual healthcare costs to the country's healthcare system. According to an article published in BMC Public Health in May 2021, the prevalence of chronic diseases such as diabetes, excess weight, high blood pressure, and depressive symptoms in Mexico has been on the rise in recent years. The increasing number of people being affected by chronic diseases in the region is expected to add to the market growth.

Additionally, product launches by the market players are expected to support the growth of the market. For instance, in June 2022, Zomedica Corp. announced that the United States Equestrian Federation (USEF) named PulseVet as the Official Shock Wave Therapy Supplier of US Equestrian Team Veterinarians.

The North American region is also set to have an enormous potential to grow significantly during the forecast period, driven by the increasing focus on patient care, well-developed infrastructure, and preference for non-invasive technologies.

Shock Wave Therapy Market - Growth Rate by Region

Shockwave Therapy Industry Overview

The shock wave therapy market is moderately competitive and consists of several major players. Some of the companies are expanding their market position and while others are adopting various strategies such as acquisitions, mergers, and introducing new products to maintain their market share. A few of the major players currently dominating the industry in terms of revenue are Karl Storz SE & Co. KG, Olympus Corporation, Dornier MedTech, Siemens, and EMS Electro Medical Systems SA.

Shockwave Therapy Market Leaders

  1. EMS Electro Medical Systems SA

  2. Olympus Corporation

  3. Karl Storz SE & Co KG

  4. Dornier MedTech GmbH

  5. Siemens Healthineers AG

*Disclaimer: Major Players sorted in no particular order

Shock Wave Therapy Market Concentration
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Shockwave Therapy Market News

  • Mar 2022: Shockwave Medical Inc. launched the Shockwave M5+ peripheral IVL catheter after receiving both CE Mark and Food and Drug Administration (FDA) clearance. The Shockwave M5+ catheter was specifically designed to decrease Intravascular Lithotripsy (IVL) treatment time, provide alternative access options, and expand IVL therapy to patients with larger vessel sizes.
  • Jan 2022: Menoufia University sponsored a clinical trial to evaluate the effectiveness and safety of focused Low-Intensity Extracorporeal Shock Wave Therapy (Li-ESWT) for erectile dysfunction.

Shockwave Therapy Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Incidences of Cardiac, Urological, and Musculoskeletal Disorders

      2. 4.2.2 Rise in Geriatric Population

      3. 4.2.3 Demand for Technologically Advanced Non-Invasive Treatments for Pain Management

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Shock Wave Therapy Devices and Procedures

      2. 4.3.2 Lack of Skilled Healthcare Professionals

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - in USD Millions)

    1. 5.1 Technique

      1. 5.1.1 Electrohydraulic Shock Waves

      2. 5.1.2 Piezoelectric Shock Waves

      3. 5.1.3 Radial Shock Waves

      4. 5.1.4 Other Techniques

    2. 5.2 Application

      1. 5.2.1 Orthopedic

      2. 5.2.2 Cardiology

      3. 5.2.3 Urology

      4. 5.2.4 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United states

        2. Canada

        3. Mexico

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. South Korea

        6. Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. GCC

        2. South Africa

        3. Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. Brazil

        2. Argentina

        3. Rest of South America


    1. 6.1 Company Profiles

      1. 6.1.1 EMS Electro Medical Systems SA

      2. 6.1.2 Dornier MedTech GmbH

      3. 6.1.3 Olympus Corporation

      4. 6.1.4 Karl Storz SE & Co. KG

      5. 6.1.5 Siemens Healthineers AG

      6. 6.1.6 BTL

      7. 6.1.7 EDAP TMS

      8. 6.1.8 Inceler Medikal Co. Ltd

      9. 6.1.9 Boston Scientific Corporation

      10. 6.1.10 Zimmer MedizinSysteme GmbH

    2. *List Not Exhaustive

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Shockwave Therapy Industry Segmentation

As per the scope of the report, shock wave therapy (SWT) is a technology that involves the non-invasive treatment of chronic, painful conditions of the musculoskeletal system by employing intense shock waves that travel faster than the speed of sound. SWT Devices are electronic devices used to generate low-energy sound waves which travel through the targeted area via a gel medium, thus repairing the tissue by causing mechanical stress and stimulating the body to jump into action. Shockwave therapy has a wide range of applications in physiotherapy, sports medicine, veterinary medicine, plastic surgery, and others. 

The Shock Wave Therapy Market is Segmented by Technique (Electrohydraulic Shock Waves, Piezoelectric Shock Waves, Radial Shock Waves, and Other Techniques), Application (Orthopedic, Cardiology, Urology, and Other Applications), End User (Hospitals, Clinics, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

Electrohydraulic Shock Waves
Piezoelectric Shock Waves
Radial Shock Waves
Other Techniques
Other Applications
By End User
Other End Users
North America
United states
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Middle-East and Africa
South Africa
Rest of Middle-East and Africa
South America
Rest of South America
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Shockwave Therapy Market Research FAQs

The Shock Wave Therapy Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)

EMS Electro Medical Systems SA, Olympus Corporation, Karl Storz SE & Co KG, Dornier MedTech GmbH and Siemens Healthineers AG are the major companies operating in the Shock Wave Therapy Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Shock Wave Therapy Market.

The report covers the Shock Wave Therapy Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Shock Wave Therapy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Shockwave Therapy Device Industry Report

Statistics for the 2024 Shockwave Therapy Device market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shockwave Therapy Device analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Shockwave Therapy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)