Shock Wave Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Shock Wave Therapy Market is Segmented by Technique (Electrohydraulic Shock Waves, Piezoelectric Shock Waves, Radial Shock Waves, and Others), Application, End-User and Geography

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >5.6 %

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Market Overview

The shock wave therapy market studied is anticipated to grow with a CAGR of nearly 5.6% during the forecast period. The major factors attributing to the growth of the market are the increasing incidences of accidents and sports injuries, rise in patients with musculoskeletal, urological, cardiac disorders, and patients undergoing various surgical procedures. For instance, according to the Center for Disease Control (CDC), about 54.4 million cases 22.7% of adults were reported with arthritis during 2013-2015. Therefore the high prevalence rate of musculoskeletal disorders creates a highly conducive environment for the growth of the shock wave therapy devices market.

Shockwave therapy has multidisciplinary use, as it can be used in orthopedics, physiotherapy, urology, sports medicines, veterinary medicines, rehabilitation centers, plastic surgery, and others. Thus the shock wave therapy provides faster healing, revascularization, and regeneration of the bones, ligaments, and tendons.

Scope of the Report

As per the scope of the report, shock wave therapy (SWT) is an FDA approved technology that involves 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 stimulate the body to jump into action. Shockwave therapy has a wide range of applications in physiotherapy, sports medicines, veterinary medicines, plastic surgery, and others.

Technique
Electrohydraulic Shock Waves
Piezoelectric Shock Waves
Radial Shock Waves
Others
Application
Orthopedic
Cardiology
Urology
Others
By End-user
Hospitals
Clinics
Others
Geography
North America
United states
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Electrohydraulic Shock Waves Segment is Expected to Hold the Largest Market Share

The electrohydraulic shock wave segment has been accounted for the largest market share in the last decade and is expected to continue over the forecast period. This dominance is owing to factors such as higher awareness and application of the technology for the past few years along with the increased preference among the physicians. 

Also, its wide range of applicability in various disorders including cardiovascular diseases, veterinary medicines, plastic surgery resulted in a higher demand for the segment contributing a significant share fueling the global market

Medical Cannula Market Share

North America Dominates the Market and Expected to do Same in 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 U.S. fuels the market in the region and contributes to the highest share in the global market.

Followed by North America, Europe accounts for the second-highest market revenue due to factors such as a huge patient pool with pain management which generates high demand for these devices. 

The Asia-Pacific region is also set to have an enormous potential to grow at the fastest rate during the forecast period, driven by the highest population, reluctance to surgical procedures and preference to non-invasive technologies in countries such as China, India, and Japan.

Medical Cannula Market

Competitive Landscape

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. 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 S.A.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Incidences of Cardiac, Urological and Musculoskeletal Disorders along with Rise in Geriatric Population

      2. 4.2.2 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 Force 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

    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 Others

    2. 5.2 Application

      1. 5.2.1 Orthopedic

      2. 5.2.2 Cardiology

      3. 5.2.3 Urology

      4. 5.2.4 Others

    3. 5.3 By End-user

      1. 5.3.1 Hospitals

      2. 5.3.2 Clinics

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United states

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    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 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
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Shock Wave Therapy Market market is studied from 2018 - 2026.

The Shock Wave Therapy Market is growing at a CAGR of >5.6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

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

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