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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Shock Wave Therapy Device Market Outlook
The shock wave therapy devices market size attained a value of USD 1.75 billion in 2023. The market is further expected to grow at a CAGR of 7.7% during the forecast period of 2024-2032 to attain a value of USD 3.45 billion by 2032, likely to be driven by the rising demand for physiotherapy across the globe.
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North America Leading the Global Market for Shock Wave Therapy Device
North America is expected to have a major share in the market in terms of revenue owing to improved medications, advancement in R&D, and increased usage of modern instruments in laboratories and hospitals. The rising prevalence of bone diseases and the geriatric population in the Asia Pacific is expected to contribute to the growth of the global shock wave therapy device industry. Moreover, the increasing demand for new treatment options is also expected to spur the shock wave therapy device industry growth in the Asia Pacific region. The Middle East and Africa and Latin America are expected to show moderate growth due to increasing medical facilities and awareness in the regions.
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Shock Wave Therapy Device: Market Segmentation
Shock wave therapy, also known as extracorporeal shock wave therapy (ESWT) is a non-invasive treatment being used in areas like physical therapy, orthopaedics, cardiology, and urology. The therapy is known to be very efficient for pain management. It is carried out using specialised devices called shock wave therapy devices.
By technology, the market can be divided into:
- Focused
- Electromagnetic
- Electrohydraulic
- Piezoelectric
- Radial or Ballistic
- Combined
Based on modality, the market can be divided into:
- Portable
- Fixed
By application, the market is segmented into:
- Orthopaedic
- Cardiology
- Urology
- Others
By end use, the market can be divided into:
- Hospitals
- Clinics
- Rehab Centres
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Demand for Hassle-Free Techniques is Driving the Market Growth
The advancement in research and development activities, increased usage of modern equipment in hospitals and clinics, and improved medications are driving the global shock wave therapy device industry growth. The market is expected to register significant growth owing to the demand for technologically advanced treatment methods. The increasing prevalence of bone diseases in the geriatric population is providing an impetus for the market growth. In addition to this, the shock wave therapy device also helps in increasing cellular activity in the body, which is further aiding the growth of the shock wave therapy device industry.
Key Industry Players in the Global Shock Wave Therapy Device Market
The report gives a detailed analysis of the following key players in the global shock wave therapy device market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BTL Medical Technologies s.r.o.
- Zimmer MedizinSysteme GmbH
- Dornier MedTech GmbH
- Electro Medical Systems S.A.
- Storz Medical AG
- Guangzhou Longest Science & Technology Co., Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model, along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Technology |
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| Breakup by Applications |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Shock Wave Therapy Device Market Report Snapshots
Shock Wave Therapy Device Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market for shock wave therapy devices reached a value of USD 1.75 billion in 2023, driven by the rising demand for different kind of therapies.
The market is likely to grow at a CAGR of 7.7% during the forecast period of 2024-2032 to attain a value of USD 3.45 billion by 2031, likely to be driven by the rising awareness about the benefits of these devices.
The major drivers of the industry, such as increasing prevalence of bone diseases, advancements in R&D, and demand for hassle-free treatment methods, are expected to aid the market growth.
The key trend guiding the growth of the market is a rise in demand for minor surgeries.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America leading the market.
The major technologies in the market include focused, radial, or ballistic and combined. Focused technology can be further divided into electromagnetic, electrohydraulic, and piezoelectric.
The market can be divided based on modality into portable and fixed by modality.
The major application segments in the industry are orthopaedic, cardiology, and urology, among others.
The leading end use sectors in the industry are hospitals, clinics, and rehab centres, among others.
The major players in the industry are BTL Medical Technologies s.r.o., Zimmer MedizinSysteme GmbH, Dornier MedTech GmbH, Electro Medical Systems S.A., Storz Medical AG, and Guangzhou Longest Science & Technology Co. Ltd. among others.
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