Shock Wave Therapy Devices Market Size is poised to gain significant momentum from 2022 to 2028. This can be reasoned to the increasing incidences of sports and accidental injuries, a surge in the number of patients with urological, musculoskeletal, and cardiac disorders, and also in patients undergoing various surgical procedures. Moreover, expanding geriatric kidney stones patient pool worldwide would further enhance the demand for the overall shock wave therapy devices.
Shock wave therapy devices are generally used for pain management and pain removal. These devices stimulate the metabolic reaction in the affected tissues and generate cavitation bubbles to breakdown the calcific deposition. Meanwhile, shock wave therapy devices also impel a pain-relieving reaction mechanism to restrict pain messages of the body.
The shock wave therapy devices market growth is being further propelled by increasing investments for the research and development activities in the space, aligned with the demand for technologically advanced devices for pain management. For instance, in early 2021, the US Food and Drug Administration offered a nod to the Shockwave intravascular lithotripsy system for the treatment of calcified coronary artery plaques.
The global shock wave therapy devices market growth is expected to be hampered by the increased cost of these devices. Besides, a dearth of skilled workforce to operate shock wave therapy devices would further challenge the market expansion over the analysis period.
Based on the product, portable shockwave therapy devices are gaining ground worldwide. These machines can safely and efficiently offer pain relief for any device while also being used to connect with the main body or device that needs the possibility of receiving power. Portable shock wave therapy machines are an indispensable device for athletes as these machines use an electric pulse to stimulate the hotshoe demand during massage without adding heat. An added advantage that is estimated to provide growth to the segment is the ease of product carriage during travel.
Shock wave therapy devices are observing increased utility for the treatment of erectile dysfunction. Urologists have recently begun using these devices as a therapeutic for patients suffering from ED. This would imply that growing cases of ED worldwide would augment the need for shockwave therapy devices. According to reliable estimates, prevalence of erectile dysfunction worldwide is slated to surge to 322 million men by 2025 end. Urologists make use of low intensity shockwave therapy for ED.
Regionally, Asia Pacific shock wave therapy devices market is projected to account for remunerative growth through 2028. This can be ascribed to the expanding geriatric population suffering from kidney stones, growing orthopedic prevalence, and rising incidences of bone injuries in various developing economies including India, China, and Japan. Moreover, increasing healthcare investments by several central governments would support the burgeoning need for shock wave therapy devices in the region.
The global shock wave therapy devices market is highly consolidated and boasts of the presence of Seimens AG, Dornier MedTech, Boston Scientific Corporation, Olympus Corporation, Lumenis, Zimmer Biomet, and United medical Systems, amongst others.
These players are involved in different organic marketing strategies like mergers and acquisitions, partnerships, and more, to gain a competitive edge in the overall market.
The global shock wave therapy devices industry has been observing moderate growth during 2020. The negative outlook of the market can be reasoned to disruptions in the supply chain management, unavailability of raw materials, and temporary halt in production units. Moreover, postponement of various non-emergency surgeries including orthopedic, cardio-related, and more as well adversely impacted the overall business growth.
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