The global extracorporeal shockwave therapy (ESWT) devices market report explores the critical analysis of the extracorporeal shockwave therapy (ESWT) devices industry using key parameters. The report covers investment strategies, the need for investment opportunities in the extracorporeal shockwave therapy (ESWT) devices industry, and the numerous advantages for investors. Importantly, this report outlines major changes in global technical regulations for the extracorporeal shockwave therapy (ESWT) devices industry and how economic and non-economic barriers assist the extracorporeal shockwave therapy (ESWT) devices market expansion. In addition, the report analyzes historical and projected market sizes at the global, regional, and national levels. The report also thoroughly examines key investment propositions, demand & supply gaps, SRC analysis, STAR analysis, competitor positioning, and Tornado analysis. Key technological developments and other analyses include value chain analysis, PESTEL analysis, Porter's five forces analysis, etc.
REPORT ATTRIBUTE
DETAILS
Extracorporeal Shockwave Therapy (ESWT) Devices Market by Volume
Yes
Market by Value
Yes
Market, Tornado Analysis
Yes
Market, STAR Analysis
Yes
Market, SRC Analysis
Yes
Market, Import-Export Data
Yes (On Demand)
Market Pricing Analysis
Yes (On Demand)
Market Segment Analysis
By Product (Table-top/Portable ESWT Device and Hand-push Type ESWT Device)
By End-User (Physiotherapy Clinics, Specialty Clinics, Hospitals, and Others)
By Application (Orthopedic, Cardiology, Erectile dysfunction, Urology, and Others)
Market, Regional Analysis
North America (the US and Canada)
Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, South East Asia, and the Rest of Asia Pacific)
Latin America (Brazil, Mexico, and the Rest of Latin America)
Middle East and Africa (GCC Countries, South Africa, and the Rest of the Middle East and Africa)
How are the major segments performing in the Extracorporeal Shockwave Therapy (ESWT) Devices Market?
In 2021, the table-top/portable ESWT device segment led the market in product and was expected to continue throughout the forecast period. The table-top/portable shock wave therapy system creates cavitation bubbles, which trigger the affected tissues' metabolic response to fracture calcific deposition. The devices activate an analgesic response mechanism to suppress pain signals in the body. As a result, gaining potential market demand from end-use industries.
In 2021, the orthopedic and urology application segments held the largest global market share. Younger people are increasingly obtaining painless medical procedures, shock wave therapy devices offer value-added characteristics, and cell proliferation, tissue formation, and angiogenesis are being stimulated more, which has helped to increase the segment's dominant market share.
In 2021, the physiotherapy clinic's end-user segment dominated the global market and was expected to continue over the projected period. Extracorporeal shockwave therapy is a physiotherapy procedure used to treat various chronic illnesses and injuries. A pneumatic generator produces high-density, high-power sound waves that stimulate blood flow, disintegrate irritating calcium deposits, and accelerate healing.
Which region dominated the extracorporeal shockwave therapy (ESWT) devices market?
North America holds the largest share of the global market for extracorporeal shockwave therapy (ESWT) devices owing to technological advancements and significant financial investments in the research and development of medical device technology in the region. The rapid rise in the elderly population, highly developed technology, and a well-established healthcare system that offers the ESWT for pain management are responsible for regional dominance. In addition, the rising prevalence of cardiac ischemia, kidney problems, and erectile dysfunction in the United States is estimated to contribute to the region's market growth.
How is US Market Performing in the Extracorporeal Shockwave Therapy (ESWT) Devices Market?
The United States is anticipated to hold a significant revenue share in the extracorporeal shockwave therapy (ESWT) devices market due to improved pharmaceuticals, progress in R&D, and increased use of cutting-edge equipment in labs and hospitals. The country's growing geriatric population and rising prevalence of bone diseases are expected to drive growth in the regional extracorporeal shockwave therapy (ESWT) device industry. Besides, rising demand for new treatment options is expected to fuel growth in the ESWT device industry in the United States.
What is the competitive environment of the extracorporeal shockwave therapy (ESWT) devices market?
The extracorporeal shockwave therapy (ESWT) devices market has a few significant players and is moderately competitive. Some significant companies are strengthening their market positions, while others are using a variety of tactics to hold onto their market share, including mergers, acquisitions, and introducing new products. For instance, Boston Scientific Corporation announced launching DIRECTSENSE Technology in June 2020, a tool for measuring the effect of radiofrequency (RF) energy delivery following cardiac ablation therapies. Similarly, STORZ Medical launched Modulith SLC in 2019, the first extracorporeal shockwave therapy device primarily used to treat angina pectoris.
Executive Summary
What are technical developments being developed in extracorporeal shockwave therapy (ESWT) devices?
The growing number of chronic disorders affecting bones and tendons has increased the demand for this treatment technology. These multidisciplinary devices assist in treating rheumatology, urology, physiotherapy, and orthopedics. These cutting-edge technologies make pain relief and mobility restoration more rapid than usual. Moreover, technological advancements such as combined shock wave therapy integration facilities with various electronic probes and laser technology are expected to drive the growth of extracorporeal shockwave therapy (ESWT) devices over the forecast period. Furthermore, its broad technical applicability in various disorders such as cardiovascular disease, veterinary medicine, and plastic surgery resulted in increased demand for extracorporeal shockwave therapy (ESWT) devices, contributing significantly to the global market. For instance, Shockwave Medical Inc introduced the M5+ Peripheral Shockwave IVL catheter in March 2022 after receiving CE Mark and FDA clearance. The Shockwave M5+ catheter was developed to reduce IVL treatment time, provide alternative access options, and expand IVL therapy to patients with larger vessel sizes.
Which key investments by the extracorporeal shockwave therapy (ESWT) devices market players?
The primary factors influencing the growth of extracorporeal shockwave therapy (ESWT) devices globally are the rising and significant investment in research and development activities in the medical device sector and the demand for scientifically superior devices for pain management. Moreover, the increase in R&D investments for the creation of novel medical devices, as well as technological developments and modernization in the healthcare industry, will open up new opportunities for the extracorporeal shockwave therapy (ESWT) devices market during the predicted period. Key corporations invest in strategic acquisitions and partnerships to improve and strengthen their regional footprints worldwide. For instance, Pulse Veterinary Technologies, a leading manufacturer of electro-hydraulic shock wave technology for treating a wide range of conditions in veterinary patients, was acquired by Zomedica Corp. in October 2021, a company that provides veterinary point-of-care therapeutic and diagnostic products.
Some major players in the extracorporeal shockwave therapy (ESWT) devices market are Storz Medical AG, Zimmer Medizine Systeme GmbH, Likamed GmbH, MTS Medical, Wikkon, HnT Medical, Lumenis Ltd., BTL Corporate, Boston Scientific, and Gymna Corporation.
What are the Major Driving Factors for the Extracorporeal Shockwave Therapy (ESWT) Devices Market?
The rising demand for hassle-free methods and the increase in the prevalence of musculoskeletal disorders and arthritis are the two main drivers of the extracorporeal shock wave therapy device market. In addition, the market is anticipated to grow as chronic muscular and tendon dysfunction, back and neck pain, and sports injuries rise. Extracorporeal shock wave therapy products are in greater demand globally, primarily due to the rapid expansion of R&D activities in the medical sector. The growing prevalence of bone diseases, such as arthritis, among the elderly increases the demand for extracorporeal shock wave therapy equipment for knee issues. Technological advancements like the combination of laser technology propel the market's expansion.
What Major Risks for the Extracorporeal Shockwave Therapy (ESWT) Devices Market?
The high prices of the therapy and a lack of trained professionals for the device's procedure and handling may limit the growth of the ESWT market during the forecast period. On the other side, the design necessary for properly adopting these techniques puts a high cost on the producers.
Which key product in the extracorporeal shockwave therapy (ESWT) devices market?
The Table-top/Portable ESWT Device product segment is projected to expand the fastest during the projected period. Table-top/portable ESWT devices are compact and lightweight, making them portable from one location to another. A trained operator usually operates these devices. They are primarily used to treat ailments like tennis elbow, chronic plantar fasciitis, and epicondylitis. It can be accessed from far-off locations where the patient cannot be transported to a hospital. The devices trigger an analgesic response mechanism in the body, suppressing pain signals. As a result, potential market demand from end-use industries is increasing.
How is the extracorporeal shockwave therapy (ESWT) devices market performing in regions?
In 2021, North America held a dominant position in the global extracorporeal shockwave therapy (ESWT) devices market due to the region's rapidly expanding elderly population, the wide use of extracorporeal shockwave therapy for managing pain, and the rising incidence of liver disease and sexual dysfunction. The region is also expected to have significant growth potential during the projected period, owing to a growing emphasis on patient care, well-developed infrastructural facilities, and a preference for non-invasive technology solutions. The ESWT procedure is inexpensive and has a quick recovery time, making it a popular treatment option in North America.
Besides, the increased prevalence of chronic diseases among people makes the Asia Pacific region another important market for extracorporeal shockwave therapy (ESWT) devices. Chronic neck and spinal disorders have emerged due to the region's explosive growth in the information technology industry, necessitating this cutting-edge technology for treatment. This region's large geriatric population also contributes to the market's size. Increased infrastructure development and therapeutic device industry advancements also benefit the market of regional extracorporeal shockwave therapy (ESWT) devices.
What is the regulatory landscape for the extracorporeal shockwave therapy (ESWT) devices market?
Extracorporeal shockwave therapy has many applications, including orthopedics, physiotherapy, urology, sports medicine, veterinary medicine, rehabilitation facilities, plastic surgery, and other specialties. Extracorporeal shockwave therapy, therefore, promotes faster revascularization, regeneration, and healing of the bones, ligaments, and tendons. For instance, the United States Food and Drug Administration approved Intravascular Lithotripsy (IVL), a sonic pressure wave therapy, in February 2021 to treat severely calcified coronary artery disease. Such approvals, centered on extracorporeal shock wave therapies, are expected to contribute to the global market's growth during the projected period.
What is the Market Size of the Extracorporeal Shockwave Therapy (ESWT) Devices regarding value?
The global extracorporeal shockwave therapy (ESWT) devices market is anticipated to grow at a substantial CAGR of 5.5% in the upcoming years. The global extracorporeal shockwave therapy (ESWT) devices industry is estimated to be worth USD 104.6 million in 2021 and is expected to be worth USD 144.22 million by 2028.
What are the major players planning for the future of the extracorporeal shockwave therapy (ESWT) devices market?
Manufacturers have been working to improve performance across all parameters with extracorporeal shockwave therapy (ESWT) devices through device design advancements. Extracorporeal shock wave therapy devices are becoming increasingly popular on the global market, owing primarily to the rapid expansion of medical R&D efforts. For instance, Menoufia University funded a clinical trial to assess the efficacy and security of centered Low-Intensity Extracorporeal Shock Wave Therapy (Li-ESWT) for erectile dysfunction in January 2022.
Segmentation of Global Extracorporeal Shockwave Therapy (ESWT) Devices Market-
Global Extracorporeal Shockwave Therapy (ESWT) Devices Market – By Product
Table-top/Portable ESWT Device
Hand-push Type ESWT Device
Global Extracorporeal Shockwave Therapy (ESWT) Devices Market – By End-User
Physiotherapy Clinics
Specialty Clinics
Hospitals
Others
Global Extracorporeal Shockwave Therapy (ESWT) Devices Market – By Application
Orthopedic
Cardiology
Erectile dysfunction
Urology
Others
Global Extracorporeal Shockwave Therapy (ESWT) Devices Market – By Region
North America
US
Canada
Europe
Germany
France
UK.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-east Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Frequently asked questions about the global extracorporeal shockwave therapy (ESWT) devices market
The COVID-19 pandemic also negatively affected the global market for extracorporeal shockwave therapy (ESWT) devices, resulting in a 3.2% decrease in market revenue share in 2020.
In 2021, North America held the largest revenue share of the global market for extracorporeal shockwave therapy (ESWT) devices.
The increasing prevalence of musculoskeletal and arthritis disorders drives the ESWT market growth. The demand for cutting-edge technological pain management methods and the non-invasive nature of the therapy is anticipated to fuel the expansion of the ESWT market throughout the forecast period.
The table-top/portable ESWT device segment had a major global market share in 2021.
The physiotherapy clinics segment had a major global market share in 2021.
