Introduction
Extracorporeal Shock Wave Therapy (ESWT) Device is a device used to deliver a focused shock wave into a body part to treat a wide range of medical conditions. It uses shock wave technology to treat chronic pain and musculoskeletal disorders, such as plantar fasciitis, Achilles tendonitis, and tennis elbow. The global extracorporeal shock wave therapy device market is anticipated to register a CAGR of XX% during the forecast period of 2023-2032.
Market Dynamics
The increasing adoption of ESWT devices across the globe is the major factor driving the growth of the global extracorporeal shock wave therapy device market. The rising prevalence of musculoskeletal disorders such as plantar fasciitis, Achilles tendonitis, and tennis elbow is further fueling the demand for ESWT devices. Moreover, the rapid development of healthcare infrastructure in developing countries is expected to drive the growth of the market. Additionally, the growing preference of patients for minimally invasive treatments is also expected to boost the market growth.
On the other hand, the high cost associated with the ESWT devices is the major factor restraining the growth of the global extracorporeal shock wave therapy device market. In addition, the lack of awareness regarding the advanced healthcare treatments in emerging countries is also hampering the market growth.
Market Analysis
The global extracorporeal shock wave therapy device market is segmented based on type, application, and region. On the basis of type, the market is divided into table-top/portable ESWT device and hand-push type ESWT device. The hand-push type ESWT device segment is expected to dominate the market during the forecast period. On the basis of application, the market is bifurcated into medical institutions, physical therapy and sports center. The medical institutions segment is anticipated to hold the largest market share during the forecast period.
Regionally, the global extracorporeal shock wave therapy device market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global extracorporeal shock wave therapy device market, owing to the increasing prevalence of chronic pain and musculoskeletal disorders in the region. In addition, the high adoption of advanced healthcare technologies in the region is also fuelling the market growth.
Future Trends
The global extracorporeal shock wave therapy device market is expected to witness significant growth during the forecast period, owing to the increasing prevalence of musculoskeletal disorders, rising awareness regarding the advanced healthcare treatments, and increasing adoption of ESWT devices across the globe. Moreover, the increasing investments in the healthcare sector, technological advancements, and the presence of major market players in the market is also expected to drive the market growth.
Market Opportunities
The rising demand for minimally invasive treatments and the growing focus of the market players on the development of advanced ESWT devices is expected to create lucrative opportunities for the global extracorporeal shock wave therapy device market. In addition, the increasing investment in research and development activities and product development initiatives by the major market players is also expected to boost the growth of the market.
Key Regulations
The major regulatory bodies for the market include the U.S. Food and Drug Administration, the European Medicines Agency, the Pharmaceuticals and Medical Devices Agency (PMDA), and the Medical Device Agency (MDA). These regulatory bodies are responsible for the approval of the ESWT devices.
Segmental Overview
The global extracorporeal shock wave therapy device market is segmented based on type, application, and region. On the basis of type, the market is divided into table-top/portable ESWT device and hand-push type ESWT device. The hand-push type ESWT device segment is expected to dominate the market during the forecast period. On the basis of application, the market is bifurcated into medical institutions, physical therapy and sports center. The medical institutions segment is anticipated to hold the largest market share during the forecast period. Regionally, the global extracorporeal shock wave therapy device market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Market Scenario
The major companies operating in the global extracorporeal shock wave therapy device market include Chattanooga (DJO) (US), Likamed GmbH (Germany), EMS Electro Medical Systems (Switzerland), BTL (UK), Gymna (Belgium), Storz Medical (Switzerland), HANIL-TM (Korea), Zimmer MedizinSysteme (Germany), MTS Medical (Germany), Inceler Medikal (Turkey), Xiangyu Medical (China), and Halso (US). The major strategies adopted by the market players in the global extracorporeal shock wave therapy device market include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. For instance, in January 20XX, Zimmer MedizinSysteme GmbH launched the ZMS-ESWT|VET, a shock wave device for veterinary use.
Qualitative Insights
The major strategies adopted by the players operating in the global extracorporeal shock wave therapy device market include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. The market players are focusing on new product development and research and development activities to gain a competitive advantage in the market. In addition, the companies are also focusing on pricing strategies to attract more customers. Moreover, the market players are focusing on creating awareness among the customers regarding the advanced healthcare treatments.
Porter’s Five Force Analysis
The global extracorporeal shock wave therapy device market is highly competitive with the presence of numerous market players. The increasing investments in research and development activities and product development initiatives by the major market players is also expected to increase the competitive intensity in the market. Furthermore, the increasing demand for minimally invasive treatments and the growing focus of the market players on the development of advanced ESWT devices is expected to create lucrative opportunities for the market players.
Strategies Adopted in the Last 4 Years
The major strategies adopted by the players operating in the global extracorporeal shock wave therapy device market in the last four years include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. For instance, in October 20XX, Likamed GmbH acquired BTL, a medical device manufacturer, in order to expand its product portfolio. In addition, in January 20XX, EMS Electro Medical Systems launched the EMS Swiss DolorClast Master ESWT device for the treatment of musculoskeletal disorders. In addition, in April 20XX, Chattanooga Group Inc. launched the US Pro-X2 ultrasound device. Moreover, in August 20XX, HANIL-TM launched the ESWT Pro+ device for the treatment of musculoskeletal disorders.
Five more new companies
In addition to the mentioned companies, the other five new companies operating in the global extracorporeal shock wave therapy device market are BTL Group (US), Bio-Medical Research (UK), Aesthetics Systems (UK), BTL Corporation (US), and Shockwave Medical (US). The major strategies adopted by these companies in the last four years include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. For instance, in October 20XX, BTL Group acquired Hocoma AG, a medical robotic technology company, in order to expand its product portfolio. In addition, in July 20XX, Bio-Medical Research launched the BMFIT 10 ESWT device for the treatment of musculoskeletal disorders. Furthermore, in August 20XX, Aesthetics Systems launched the ESWT Pro+ device for the treatment of musculoskeletal disorders.
Extracorporeal Shock Wave Therapy (ESWT) Device is a device used to deliver a focused shock wave into a body part to treat a wide range of medical conditions. It uses shock wave technology to treat chronic pain and musculoskeletal disorders, such as plantar fasciitis, Achilles tendonitis, and tennis elbow. The global extracorporeal shock wave therapy device market is anticipated to register a CAGR of XX% during the forecast period of 2023-2032.
Market Dynamics
The increasing adoption of ESWT devices across the globe is the major factor driving the growth of the global extracorporeal shock wave therapy device market. The rising prevalence of musculoskeletal disorders such as plantar fasciitis, Achilles tendonitis, and tennis elbow is further fueling the demand for ESWT devices. Moreover, the rapid development of healthcare infrastructure in developing countries is expected to drive the growth of the market. Additionally, the growing preference of patients for minimally invasive treatments is also expected to boost the market growth.
On the other hand, the high cost associated with the ESWT devices is the major factor restraining the growth of the global extracorporeal shock wave therapy device market. In addition, the lack of awareness regarding the advanced healthcare treatments in emerging countries is also hampering the market growth.
Market Analysis
The global extracorporeal shock wave therapy device market is segmented based on type, application, and region. On the basis of type, the market is divided into table-top/portable ESWT device and hand-push type ESWT device. The hand-push type ESWT device segment is expected to dominate the market during the forecast period. On the basis of application, the market is bifurcated into medical institutions, physical therapy and sports center. The medical institutions segment is anticipated to hold the largest market share during the forecast period.
Regionally, the global extracorporeal shock wave therapy device market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global extracorporeal shock wave therapy device market, owing to the increasing prevalence of chronic pain and musculoskeletal disorders in the region. In addition, the high adoption of advanced healthcare technologies in the region is also fuelling the market growth.
Future Trends
The global extracorporeal shock wave therapy device market is expected to witness significant growth during the forecast period, owing to the increasing prevalence of musculoskeletal disorders, rising awareness regarding the advanced healthcare treatments, and increasing adoption of ESWT devices across the globe. Moreover, the increasing investments in the healthcare sector, technological advancements, and the presence of major market players in the market is also expected to drive the market growth.
Market Opportunities
The rising demand for minimally invasive treatments and the growing focus of the market players on the development of advanced ESWT devices is expected to create lucrative opportunities for the global extracorporeal shock wave therapy device market. In addition, the increasing investment in research and development activities and product development initiatives by the major market players is also expected to boost the growth of the market.
Key Regulations
The major regulatory bodies for the market include the U.S. Food and Drug Administration, the European Medicines Agency, the Pharmaceuticals and Medical Devices Agency (PMDA), and the Medical Device Agency (MDA). These regulatory bodies are responsible for the approval of the ESWT devices.
Segmental Overview
The global extracorporeal shock wave therapy device market is segmented based on type, application, and region. On the basis of type, the market is divided into table-top/portable ESWT device and hand-push type ESWT device. The hand-push type ESWT device segment is expected to dominate the market during the forecast period. On the basis of application, the market is bifurcated into medical institutions, physical therapy and sports center. The medical institutions segment is anticipated to hold the largest market share during the forecast period. Regionally, the global extracorporeal shock wave therapy device market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Market Scenario
The major companies operating in the global extracorporeal shock wave therapy device market include Chattanooga (DJO) (US), Likamed GmbH (Germany), EMS Electro Medical Systems (Switzerland), BTL (UK), Gymna (Belgium), Storz Medical (Switzerland), HANIL-TM (Korea), Zimmer MedizinSysteme (Germany), MTS Medical (Germany), Inceler Medikal (Turkey), Xiangyu Medical (China), and Halso (US). The major strategies adopted by the market players in the global extracorporeal shock wave therapy device market include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. For instance, in January 20XX, Zimmer MedizinSysteme GmbH launched the ZMS-ESWT|VET, a shock wave device for veterinary use.
Qualitative Insights
The major strategies adopted by the players operating in the global extracorporeal shock wave therapy device market include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. The market players are focusing on new product development and research and development activities to gain a competitive advantage in the market. In addition, the companies are also focusing on pricing strategies to attract more customers. Moreover, the market players are focusing on creating awareness among the customers regarding the advanced healthcare treatments.
Porter’s Five Force Analysis
The global extracorporeal shock wave therapy device market is highly competitive with the presence of numerous market players. The increasing investments in research and development activities and product development initiatives by the major market players is also expected to increase the competitive intensity in the market. Furthermore, the increasing demand for minimally invasive treatments and the growing focus of the market players on the development of advanced ESWT devices is expected to create lucrative opportunities for the market players.
Strategies Adopted in the Last 4 Years
The major strategies adopted by the players operating in the global extracorporeal shock wave therapy device market in the last four years include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. For instance, in October 20XX, Likamed GmbH acquired BTL, a medical device manufacturer, in order to expand its product portfolio. In addition, in January 20XX, EMS Electro Medical Systems launched the EMS Swiss DolorClast Master ESWT device for the treatment of musculoskeletal disorders. In addition, in April 20XX, Chattanooga Group Inc. launched the US Pro-X2 ultrasound device. Moreover, in August 20XX, HANIL-TM launched the ESWT Pro+ device for the treatment of musculoskeletal disorders.
Five more new companies
In addition to the mentioned companies, the other five new companies operating in the global extracorporeal shock wave therapy device market are BTL Group (US), Bio-Medical Research (UK), Aesthetics Systems (UK), BTL Corporation (US), and Shockwave Medical (US). The major strategies adopted by these companies in the last four years include product launches, acquisitions, business expansions, partnerships, investment opportunities, and market growth scenarios. For instance, in October 20XX, BTL Group acquired Hocoma AG, a medical robotic technology company, in order to expand its product portfolio. In addition, in July 20XX, Bio-Medical Research launched the BMFIT 10 ESWT device for the treatment of musculoskeletal disorders. Furthermore, in August 20XX, Aesthetics Systems launched the ESWT Pro+ device for the treatment of musculoskeletal disorders.
Key Benefits of the Report
- This study presents the analytical depiction of the Extracorporeal Shock Wave Therapy Device Market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the Extracorporeal Shock Wave Therapy Device Market share.
- The current market is quantitatively analyzed to highlight the Extracorporeal Shock Wave Therapy Device Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Extracorporeal Shock Wave Therapy Device Market analysis based on competitive intensity and how the competition will take shape in coming years
Extracorporeal Shock Wave Therapy Device Market Report Highlights
| Aspects | Details |
 By Types |
|
 By Applications |
|
 By Region |
|
 Key Market Players | Chattanooga(DJO)(US) Likamed GmbH(Germany) EMS Electro Medical Systems(Switzerland) BTL(UK) Gymna(Belgium) Storz Medical(Switzerland) HANIL-TM(Korea) Zimmer MedizinSysteme(Germany) MTS Medical(Germany) Inceler Medikal(Turkey) Xiangyu Medical(China) H |
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