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2022

Shockwave Therapy Market

Shockwave Therapy Market Size, Share, Competitive Landscape and Trend Analysis Report by Technique, by Product, by Application, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

LS : Medical Devices & Supplies

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Author's: Vikita Thakur| Shubham Sharma | Roshan Deshmukh
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Shockwave Therapy Market Research, 2031

The global Shockwave Therapy Market Size was valued at $1,171.19 million in 2021 and is projected to reach $2,269.62 million by 2031, registering a CAGR of 6.8% from 2022 to 2031.  Shock wave therapy (SWT) is an FDA-approved 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. 

Shockwave Therapy Market

Historical overview 

The market was analyzed qualitatively and quantitatively from 2018-2020. Most of the growth during this period was derived from the Asia-Pacific owing to the rise in the prevalence of musculoskeletal diseases, sports-related injuries, and road accidents, the increase in the geriatric population, improving health awareness, rising disposable incomes, as well as the well-established presence of domestic companies in the region.   

Market dynamics 

The rise in the prevalence of sports-related injuries increases the cases of muscle and tendon disorders is the major factor boosting the Shockwave Therapy Market Growth. For instance, according to the data published by National Safety Council, it has been reported that with regard to exercise and exercise equipment injuries, the number of injuries increased slightly in 2021 (409,224 injuries in 2021 compared to 377,939 in 2020), the application with the highest injury rate is 15- to 24-year-olds, nearly twice as many males are injured as females (4,148,404 males vs. 2,158,887 females), and 91% of injury victims are treated in emergency departments and released. Furthermore, the surge in the number of road accidents and increasing ailments and chronic diseases among the population have also led to an increase in demand for better and technologically advanced shockwave therapy devices that boosts the market growth. Moreover, the increase in the number of R&D activities in the field of shockwave therapy kits or medical devices enhanced healthcare services, and significant investments by the government to improve healthcare infrastructure have become vital tools for small and large businesses globally. This is attributed to further support market growth. The demand for shockwave therapy is not only limited to developed countries but is also being witnessed in developing countries, such as China, Brazil, and India, which provides a lucrative Shockwave Therapy Market Opportunity in upcoming years.  

The outbreak of COVID-19 has disrupted workflows in the healthcare sector around the world. The disease has forced several industries to shut their doors temporarily, including several sub-domains of health care. The global shockwave therapy market experienced a decrease in 2020 as the pandemic significantly impacted the number of sports-tournament which are organized worldwide, which reduces the prevalence rate of sports-related injuries. However, the market is anticipated to witness steady growth in 2021 and is anticipated to grow at a significant CAGR during the forecast period for the shockwave therapy market. This is attributed to the increasingly sedentary lifestyle practices that are giving rise to chronic spinal ailments and back problems. These disorders require proper management and treatment in order to achieve the best results. In addition, the increase in the number of cardiovascular diseases among people as a result of sedentary lifestyle practices proves to be a great opportunity for the shockwave therapy market. The lack of physical activity among people increases the number of chronic diseases in society and has led to the increase in demand for better and more advanced technologies for therapeutic purposes to reduce pain within a shorter period of time than usual.    

Segmental Overview 

The shockwave therapy market is segmented on the basis of technology, type, application, end-user, and region. By technology, the market is segmented into electrohydraulic shockwaves, electromagnetic shockwaves, piezoelectric shockwaves, and radial shockwaves. By type, it is classified into mobile and fixed. By application, it is bifurcated into urology, orthopedics, cardiology, and others. By end user, the market is segmented into hospitals, clinics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

By technology, the market is segmented into electrohydraulic shockwaves, electromagnetic shockwaves, piezoelectric shockwaves, and radial shockwaves. The electrohydraulic shockwaves segment has largest Shockwave Therapy Market Sharein 2021 and is expected to remain dominant throughout the forecast period, owing to the widespread use of electrohydraulic shock wave therapy for orthopedic physiotherapy in elderly patients in order to treat lithotripsy.  

Shockwave Therapy Market by Technique

Based on type, the Shockwave Therapy Industry is segmented into mobile and fixed. The mobile segment dominated the global market in 2021 and is expected to remain dominant throughout the forecast period, owing to its flexibility and mobility also it is easily accessible from remote places where the patient can't be brought to the hospital setup. 

Shockwave Therapy Market by Product

By application, it is bifurcated into urology, orthopedics, cardiology, and others. The orthopedic segment has the largest Shockwave Therapy Market Share in 2021 and is anticipated to continue this trend during the forecast period. This is attributed to increases in the prevalence of musculoskeletal disorders, sports-related injuries, arthritis, and bone diseases, as well as rising geriatric populations.  

Shockwave Therapy Market by Application

By end user, the Shockwave Therapy Industry is segmented into hospitals, clinics, and others. The hospital segment dominated the global market in 2021 and is anticipated to continue this trend during the forecast period. This is attributed to the advantages offered such as hospitals providing specialized, individualized therapeutic, and emergency care for patients with symptoms of chronic muscular and tendon disorders, back and neck pain along with sports injuries. Hospitals are better equipped to handle any post-operative complications and they include facilities for physical rehabilitation post surgeries are the key factors that drive the growth of the market in upcoming years.   

Shockwave Therapy Market by End User

By region, The shockwave therapy market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the shockwave therapy market in 2021 and is expected to maintain its dominance during the forecast period. The presence of several major players and the advancement in technology of shockwave therapy devices in the region drive the growth of the market. The shockwave therapy market is mainly driven by the presence of well-established healthcare facilities, a growing geriatric population, and the rising prevalence of sports-related injuries and cardiovascular disorders. Moreover, an increase in the prevalence of arthritis and musculoskeletal disorders is contributing to the market growth in the region. Furthermore, increasing investment by pharmaceutical companies in R&D activities to design technologically advanced medical devices through innovative research is expected to fuel the Shockwave Therapy Market Size in this region. 

Asia-Pacific is expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to the presence of pharmaceutical companies in the region as well as the rise in the geriatric population of the countries, such as China and India. Moreover, the rise in the number of chronic and cardiovascular diseases, and an increase in the number of road accidents drive the growth of the market. Furthermore, the Asia-Pacific region exhibits the largest supply of medical devices and the largest pharmaceutical industry with the availability of technologically advanced medical devices in abundance, which can be easily accessed by consumers. This, in turn, drives the growth of the market. Asia-Pacific offers profitable opportunities for key players operating in the shockwave therapy market, thereby registering the fastest growth rate during the forecast period, owing to the growing infrastructure of industries, rising disposable incomes, as well as the well-established presence of domestic companies in the region. In addition, increased technological innovations and heavy funding by government and private organizations, and increased investment by companies in R&D activities are expected to provide great opportunities for the growth of the market in this region.   

Shockwave Therapy Market by Region

COMPETITION ANALYSIS 

  • Competitive analysis and profiles of the major players in the shockwave therapy market, such as BioMed India, Boston Scientific Corporation, BTL Corporate, Dornier MedTech, EDAP TMS, EMS Dolorclast, Inceler Medikal Co. Ltd, Karl Storz SE & Co, SANUWAVE and SANUWAVE Health, Inc. and Shockwave Medical Inc are provided in this report. Major players have adopted product launches, product expansions, and acquisitions as key developmental strategies to improve the product portfolio of the shockwave therapy market.   

Some examples of product launches in the market 

Product launch in the market  

  • In March 2022, Shockwave Medical, Inc. launched its Shockwave M5+ peripheral IVL catheter after receiving both CE Mark and U.S. Food and Drug Administration (FDA) clearance. The Shockwave M5+ catheter is specifically designed to decrease IVL treatment time, provide alternative access options, and expand IVL therapy to patients with larger vessel sizes. 

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the shockwave therapy market analysis from 2021 to 2031 to identify the prevailing shockwave therapy market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the shockwave therapy market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global shockwave therapy market trends, key players, market segments, application areas, and market growth strategies.

Shockwave Therapy Market Report Highlights

Aspects Details
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Market Size By 2031

USD 2.3 billion

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Growth Rate

CAGR of 6.8%

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Forecast period

2021 - 2031

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Report Pages

234

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By Technique
  • Electrohydraulic Technique
  • Piezoelectric Technique
  • Radial Technique
  • Electromagnetic Shock Waves
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By Product
  • Mobile Shockwave Therapy Devices
  • Fixed Shockwave Therapy Devices
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By End User
  • Hospitals
  • Clinics
  • Others
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By Application
  • Urology
  • Others
  • Orthopedics
  • Cardiology
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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Key Market Players

Inceler Medikal Co. Ltd., Dornier MedTech, Bio-Med Inc., EMS Dolorclast, Shockwave Medical, Inc, BTL Industries, EDAP TMS, SANUWAVE & SANUWAVE Health, Inc, Boston Scientific Corporation, KARL STORZ SE & Co. KG

Analyst Review

This section provides various opinions of top-level CXOs in the shockwave therapy market. According to several interviews conducted, the shockwave therapy market is expected to witness significant growth in the future, owing to an increase in the number of muscle and tendon injuries, a surge in the number of cardiovascular diseases, and a rise in the number of geriatric populations. 

According to the perspectives of CXOs, the shockwave therapy market is expected to witness steady growth in the future. The increasing ailments and chronic diseases among the population have also led to the increase in demand for better and more advanced technologies for therapeutic purposes anticipated to fuel the market growth. The surge in investments in R&D by pharmaceutical companies, the growing healthcare expenditure, and the rise in technological advancement are the key factors driving the growth of the market. However, the high cost associated with advanced technologies, and the rise in the expensive treatment cost hampers the growth of the market up to some extent over the forecast period.  

As per CXOs, North America is expected to dominate the global shockwave therapy market during the forecast period, followed by Europe. In addition, emerging economies such as India, China, Mexico, and Brazil are expected to offer lucrative opportunities owing to the lack of medical facilities and supplies in these countries leading to the development of chronic ailments which require shockwave therapy for better recovery. 

Author Name(s) : Vikita Thakur| Shubham Sharma | Roshan Deshmukh
Frequently Asked Questions?

The trends of the shockwave therapy market are the rise in the prevalence of sports-related injuries and the increase the in cases of muscle and tendon disorders is the major factor boosting the growth of the market.

The forecast period in the report is from 2022 to 2031

North America is the largest regional market for Shockwave Therapy

$2,269.62 Million is the estimated industry size of Shockwave Therapy

BioMed India, Boston Scientific Corporation, BTL Corporate, Dornier MedTech, EDAP TMS, EMS Dolorclast, Inceler Medikal Co. Ltd, Karl Storz SE & Co, SANUWAVE and SANUWAVE Health, Inc. and Shockwave Medical Inc are the top companies to hold the market share in Shockwave Therapy

The base year for the report is 2021

Yes, Shockwave Therapymarket companies are profiled in the report

No, there is value chain analysis provided in the Shockwave Therapy market report

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Shockwave Therapy Market

Global Opportunity Analysis and Industry Forecast, 2021-2031