Shock Wave Therapy Device Market - Forecast(2022 - 2027)

Report Code: HCR 0632 Report Format: PDF + Excel

Shock Wave Therapy Device Market Overview

Shock Wave Therapy Device Market size is estimated to reach $197.2 million by 2026, growing at a CAGR of 5.6% during the forecast period 2021-2026. Shock Wave Therapy Devices are multidisciplinary devices used as an out-patient and a non-invasive alternative to the procedures of ligament disorders. These devices are also used in pain elimination and management. Shock wave therapy devices are increasingly being used in hospitals across the world as lithotripsy procedures have revolutionized the treatment for kidney stones and create a substantial impact on gallstone treatment. The rise in the adoption of lithotripsy procedures for pain management, increase in the inclination towards physiotherapy centers among patients for musculoskeletal disorders, the growing demand for shock wave therapy devices in cardiology, and the rise in investment by the key players to develop advanced shock wave therapy devices are the factors that are set to drive the growth of the Shock Wave Therapy Device Market for the period 2021-2026.

Report Coverage

The report: “Shock Wave Therapy Device Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Shock Wave Therapy Device Market.
By Type: Fixed Shock Wave Therapy Device and Mobile Shock Wave Therapy Device.
By Technology: Electromagnetic Technique, Electrohydraulic Technique, Radial Technique, and Piezoelectric Technique.
By End User: Hospitals and Clinics, Ambulatory Surgery Centers, Physiotherapy Centers, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa).

Key Takeaways

  • Geographically, the North America Shock Wave Therapy Device Market accounted for the highest revenue share in 2020, and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of fixed shock wave therapy devices in cardiology.
  • The increase in the availability of Lithotripsy procedures in hospitals is driving the Hospitals segment. However, the high cost of shock wave therapy devices is one of the major factors that is said to reduce the growth of the Shock Wave Therapy Device Market.
  • Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Shock Wave Therapy Device Market report.

Shock Wave Therapy Device Market Revenue Share, By Geography, 2020 (%)

 Shock Wave Therapy Device

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Shock Wave Therapy Device Market Segment Analysis-By Type

The Shock Wave Therapy Device Market based on the Type can be further segmented into Fixed Shock Wave Therapy Device and Mobile Shock Wave Therapy Device. The Fixed Shock Wave Therapy Device segment held the largest share owing to the factors such as the growing demand for devices that provide long-term treatment for various physical causes and the rise in investment by the key players to develop advanced shock wave therapy devices for musculoskeletal disorders. According to the World Health Organization (WHO), 1.71 billion people across the world have various musculoskeletal disorders. This increase in the number of musculoskeletal disorders has propelled the demand for various shock wave devices, which is driving the growth of the Shock Wave Therapy Device Market. The Mobile Shock Wave Therapy Device segment is estimated to be the fastest-growing segment with a CAGR of 6.4% over the period 2021-2026. This growth is owing to the factors such as the growing research and development activities for developing mobile medical devices and the rise in the availability of mobile shock wave therapy devices in various formats.

Shock Wave Therapy Device Market Segment Analysis-By End User

The Shock Wave Therapy Device Market based on the End User can be segmented into Hospitals and Clinics, Ambulatory Surgery Centers, Physiotherapy Centers, and Others. The Hospitals and Clinics segment held the largest share in 2020 owing to the factors such as the availability of Lithotripsy procedures in hospitals and the rise in the demand for shock wave therapy devices for pain management in hospitals. The rise in investment by the key players owing to the growing adoption of shock wave therapy devices for cardiology in emerging countries is driving the growth of the Shock Wave Therapy Device Market. The number of deaths from cardiovascular diseases in India increased to 4.77 million in 2020 from 2.26 in 1990. The Physiotherapy Centers segment is estimated to be the fastest-growing segment with a CAGR of 6.6% over the period 2021-2026. This growth is owing to the factors such as the growing demand for mobile shock wave therapy devices and the rise in inclination towards physiotherapy centers among patients for musculoskeletal disorders.

Shock Wave Therapy Device Market Segment Analysis-By Geography

The Shock Wave Therapy Device Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. North America held the largest share, with 36% of the overall market in 2020. The growth in this segment is owing to the factors such as the increasing demand for advanced shock wave therapy devices in developed regions and the growing adoption of fixed shock wave therapy devices in cardiology. The rise in the prevalence of musculoskeletal disorders in the United States is driving the growth of the Shock Wave Therapy Device Market. One out of every two persons in the country aged 18 and over are being affected with several musculoskeletal disorders. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the increasing demand for shock wave therapy devices in hospitals in emerging countries and the growing investment by the key players in the region to develop advanced shock wave therapy devices.

Shock Wave Therapy Device Market Drivers

Increase in the Demand for Physiotherapy Centers for Musculoskeletal Disorders is Expected to Boost Product Demand.

According to the Centers for Disease Control and Prevention (CDC), musculoskeletal disorders have accounted for 70 million physiotherapy visits in the United States per year. Moreover, the key players are focusing on developing advanced shock wave therapy devices for musculoskeletal disorders, which is one of the major factors driving the growth of the Shock Wave Therapy Device Market.

Rise in the Demand for Lithotripsy Procedures will Provide New Growth Avenues to the Industry Growth.

Lithotripsy procedures are increasingly being adopted in hospitals owing to the easy availability of shock wave therapy devices in hospitals. According to the National Center for Biotechnology Information (NCBI), lithotripsy procedures have revolutionized the treatment for kidney stones and creates a substantial impact on gallstone treatment, which is further propelling the demand for Shock Wave Therapy Device Market.

Shock Wave Therapy Device Market Challenges

High Cost of Shock Wave Therapy Devices in Developed Nations may Pose Hindrance to Market Growth.

The key players in the market are increasing their investment to carry out various research and development activities for developing advanced lithotripsy procedures for cardiology and musculoskeletal disorders. However, the average cost of shock wave therapy devices is $12,800 in hospitals and surgery centers, which is one of the major factors estimated to reduce the growth of the Shock Wave Therapy Device Market.

Shock Wave Therapy Device Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Shock Wave Therapy Device Market. Key companies of this market are -
  1. Boston Scientific Corporation
  2. C. R. Bard, Inc.
  3. Dornier MedTech
  4. Olympus Corporation
  5. Lumenis Ltd
  6. Cook Group
  7. Medtrue Enterprise Co., Ltd
  8. Medytox
  9. Siemens AG
  10. Karl Storz SE & Co. KG 

Acquisitions/Product Launches:

  • In September 2019, Dornier MedTech has launched the new OptiVision technology that uses extracorporeal shock wave lithotripsy devices for the Dornier Delta® III to provide urologists with visualization.
  • In April 2019, Medytox Korea launched HNT Medical HNT Medical Carewave, a shock wave device dysfunction that helps in restoring erectile function and providing convenience for operators across the world.

Relevant Links:

Report Code: HCR 0173

Report Code: HCR 19905

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1. Shock Wave Therapy Device Market - Overview
    1.1 Definitions and Scope
2. Shock Wave Therapy Device Market - Executive Summary
    2.1 Market Revenue and Key Trends by Company
    2.2 Key trends by Type
    2.3 Key trends by End User
    2.4 Key trends by Geography
3. Shock Wave Therapy Device Market – Comparative Analysis
    3.1 Company Benchmarking – Key Companies
    3.2 Financial Analysis – Key Companies
    3.3 Market Value Split- Key Companies
    3.4 Patent Analysis
    3.5 Pricing Analysis – Average Selling Price
4. Shock Wave Therapy Device Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Shock Wave Therapy Device Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Shock Wave Therapy Device Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Shock Wave Therapy Device Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Shock Wave Therapy Device Market – By Type (Market Size –$Million/$Billion)
    8.1 Fixed Shock Wave Therapy Device
    8.2 Mobile Shock Wave Therapy Device
9. Shock Wave Therapy Device Market – By Technique (Market Size –$Million/$Billion)
    9.1 Electromagnetic Technique
    9.2 Electrohydraulic Technique
    9.3 Radial Technique
    9.4 Piezoelectric Technique
10. Shock Wave Therapy Device Market – By End User (Market Size –$Million/$Billion)
    10.1 Hospitals and Clinics
    10.2 Ambulatory Surgery Centers
    10.3 Physiotherapy Centers
    10.4 Others
11. Shock Wave Therapy Device Market - By Geography (Market Size –$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Mexico
        11.1.3 Canada
    11.2 Europe
        11.2.1 U.K.
        11.2.2 France
        11.2.3 Germany
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia Pacific
        11.3.1 China
        11.3.2 India
        11.3.3 Japan
        11.3.4 South Korea
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Shock Wave Therapy Device Market - Entropy
13. Shock Wave Therapy Device Market – Industry/Segment Competition Landscape Premium
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key companies
        13.1.3 Market Share by Countries – Key Companies
        13.1.4 Competition Matrix
        13.1.5 Best Practices for Companies
14. Shock Wave Therapy Device Market – Key Company List by Country Premium Premium
15. Shock Wave Therapy Device Market Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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