Shock Wave Therapy Market - Growth, Trends, and Forecast (2020 - 2025)
|出版商||Mordor Intelligence LLP||商品編碼||922070|
|出版日期||內容資訊||英文 112 Pages
|全球衝擊波療法市場:成長，趨勢，及預測 Shock Wave Therapy Market - Growth, Trends, and Forecast (2020 - 2025)|
|出版日期: 2020年01月01日||內容資訊: 英文 112 Pages||
The shock wave therapy market studied was anticipated to grow with a CAGR of nearly 5.6% during the forecast period. The major factors attributing to the growth of the market are the increasing incidences of accidents and sports injuries, rise in patients with musculoskeletal, urological, cardiac disorders and patients undergoing various surgical procedures. For instance, according to the Center for Disease Control (CDC), about 54.4 million cases 22.7% of adults were reported with arthritis during 2013-2015 and is expected to increase in the forecast period and expected to drive the global shock wave therapy devices market.
Shock Wave Therapy (SWT) is an FDA approved technology that involves non-invasive treatment of chronic, painful conditions of the musculoskeletal system by employing intense, shock waves that travel faster than the speed of sound. SWT Devices are electronic devices used to generate low energy sound waves which travel through the targeted area via a gel medium, thus repairing the tissue by causing mechanical stress and stimulate the body to jump into action. Shockwave therapy has a wide range of applications in physiotherapy, sports medicines, veterinary medicines, plastic surgery, and others.
The Electrohydraulic Shock Waves Segment by Technique is Expected to Hold the Largest Market Share in the Shock Wave Therapy Market
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the global SWT market throughout the forecast period. The dominance is owing to the rapid increase in the geriatric population, highly advanced technology and established healthcare infrastructure providing the SWT for pain management. Also, the growing incidence of cardiac ischemia, kidney stones and erectile dysfunction in the U.S. fuels the market in the region and contributes to the highest share in the global market.
Followed by North America, Europe accounts for the second-highest market revenue due to factors such as a huge patient pool with pain management which generates high demand for SWT devices. Also, the government support for start-ups and new entrants in the medical field with innovative developments coupled by the ongoing research and development activities by the key players to launch new products in pain management will drive the market in the region which is expected to the significant share of revenue in the global shock wave therapy market.
The Asia-Pacific region is set to have an enormous potential to grow at the fastest rate during the forecast period, driven by the highest population, reluctance to surgical procedures and preference to non-invasive technologies in countries such as China, India, and Japan. However, the developing nations in the Middle East and Africa are expected to experience a lower growth rate due to lack of advanced healthcare facilities, skilled operators along with the high cost of the devices and therapy.
The shock wave therapy market is moderately competitive and consists of several major players. Some of the companies are expanding their market position and while others are adopting various strategies such as acquisitions, mergers, and introducing new products to maintain their market share. BTL, a medical device manufacturer has introduced a novel approach of SWT to enhance the efficiency of therapy and speed up the recovery process by combining shockwave and high-intensity Laser therapy. The treatment is useful as veterinary medicine and sports medicine also which has increased the revenue of the company fueling the global market. Few of the major players currently dominating the industry in terms of revenue are Karl Storz SE & Co. KG, Olympus Corporation, Dornier MedTech, Siemens, and EMS Electro Medical Systems S.A.