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Shock Wave Therapy Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI3189
Shock Wave Therapy Devices Market size is poised to gain significant momentum from 2023 to 2032. This can be attributed 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, mounting occurrences of kidney stones in the geriatric patient pool worldwide would enhance the demand for 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 break down the calcific deposition. Meanwhile, shock wave therapy devices also impel a pain-relieving reaction mechanism to restrict pain messages in the body.
The shock wave therapy devices market growth is being further propelled by increasing investments in research and development activities in the space, aligned with the value for technologically advanced devices for pain management. For instance, in May 2022, Shockwave Medical Inc. and Genesis MedTech Group, producers of Intravascular Lithotripsy (IVL) for calcified cardiovascular disease announced the approval of their Shockwave IVL System from the National Medical Products Administration (NMPA) in China.
The aftermath of the Russia-Ukraine conflict showcased a hike in raw material prices and delays in the supply chains of these devices. Several medical devices were starved of rigorous R&D initiatives which hindered the development of advanced therapeutic devices in affected regions. The U.S. healthcare organizations observed exponential price rises that impacted product adoption severely in the country. Moreover, the global shock wave therapy devices industry progression 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 impede the market expansion over the analysis period.
In terms of product, the portable shock wave therapy devices market is witnessing notable gains. These machines enable safe and efficient pain relief for devices while also being used to connect with the main body or device that needs the possibility of receiving power. These machines are crucial devices for athletes as portable shock therapy devices use an electric pulse to stimulate the demand for hotshoe during massage without heat. An added advantage that is estimated to impel segment revenueis the ease of product transportation during travel.
Shock wave therapy devices are observing increased application 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, the prevalence of erectile dysfunction worldwide is slated to surge to 322 million men by the end of 2025. Urologists make use of low-intensity shockwave therapy for ED.
Regionally, the Asia Pacific shock wave therapy devices market is projected to account for remunerative growth through 2032. 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 market is highly consolidated and boasts of the presence of Seimens AG, Boston Scientific Corporation, Dornier MedTech (Advanced MedTech Holdings), Olympus Corporation, Zimmer Biomet, Lumenis, and United Medical Systems, among others. These players are involved in several organic marketing strategies including mergers and acquisitions, partnerships, and more, to attain a competitive edge in the overall shock wave therapy devices market.
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