Shock Wave Therapy Devices Market
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Shock Wave Therapy Devices Market size was valued at around USD 174.6 million in 2023 and is estimated to expand at 4.9% CAGR from 2024 to 2032. Shock wave therapy devices are medical devices designed to deliver controlled shock waves to targeted areas of the body for therapeutic purposes.
These devices utilize various technologies, including electrohydraulic, electromagnetic, or piezoelectric mechanisms, to generate shock waves. This high market growth can be primarily attributed to numerous factors including increasing incidence of musculoskeletal disorders, ongoing advancements in technology, growing aging population, rise in number of sports-related injuries, and rising patient preference for minimally invasive procedures across the globe.
Musculoskeletal issues like tendinitis, plantar fasciitis, and calcific tendinitis are becoming increasingly prevalent worldwide due to factors such as aging populations, sedentary lifestyles, and sports-related injuries. With a significant portion of the population affected by these conditions, there's a growing demand for effective treatment options like shock wave therapy.
According to the World Health Organization (WHO) 2022 report, an estimated 1.71 billion people suffer from musculoskeletal disorders, including low back pain, neck discomfort, fractures, injuries, osteoarthritis, amputation, and rheumatoid arthritis, globally. Further, shock wave therapy is gaining popularity as a non-invasive treatment option for conditions like tennis elbow, golfer's elbow, and patellar tendinopathy, driving market growth in sports medicine and rehabilitation.
Report Attribute | Details |
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Base Year: | 2023 |
Shock Wave Therapy Devices Market size in 2023: | USD 174.6 Million |
Forecast Period: | 2024 – 2032 |
Forecast Period 2023 - 2032 CAGR: | 4.9 |
2023 Value Projection: | USD 273.3 Million |
Historical Data for: | 2018 – 2023 |
No of Pages: | 160 |
Tables, Charts & Figures: | 287 |
Segments Covered: | Technology, Application, Type, End-use, and Region |
Growth Drivers: |
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Pitfalls Challenges: |
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The market is experiencing several notable trends that are shaping its growth and development. Factors such as continuous innovations in technology, rising demand for portable shock wave therapy devices, surging demand for integrated advanced technologies, growing focus on patient-centric care, among other factors are propelling the industry landscape.
The market, by technology is categorized into focused shockwave generation, radial or ballistic shock wave generation, and combined shock wave generation. The focused shockwave generation segment is further bifurcated into electrohydraulic shock wave generation (EHSG), piezoelectric shock wave generation (PSG), and electromagnetic shock wave generation (EMSG). The focused shockwave generation segment accounted for dominating share and was valued at over USD 102.6 million revenue in 2023.
Based on application, the shock wave therapy devices market is segmented into orthopedic, cardiology, urology, and other applications. The orthopedic segment dominated the market and accounted for 43.5% business share in 2023 and is anticipated to witness significant growth during the forecast period.
Based on type, the shock wave therapy devices market is segmented into portable and fixed devices. The portable segment accounted for over 75.3% business share in 2023.
The shock wave therapy devices market by end-use is categorized into hospitals and clinics, diagnostic laboratories, and ambulatory surgical centers. The hospitals and clinics segment accounted for around USD 103.7 million revenue size in 2023.
North America shock wave therapy devices market accounted for USD 69 million revenue in 2023 and is predicted to witness substantial market growth.
The shock wave therapy devices industry is fragmented in nature, with several large multinationals, small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Boston Scientific Corporation, Olympus Corporation, Siemens Healthineers AG, Zimmer MedizinSysteme GmbH, among others have a notable presence in the market.
Some of the eminent market participants operating in the shock wave therapy devices industry include:
Market, By Technology
Market, By Application
Market, By Type
Market, By End-use
The above information is provided for the following regions and countries:
North America shock wave therapy devices industry reached USD 69 million in 2023 and is expected to register a commendable CAGR from 2024-2032 due to technological advancements and innovation in healthcare in the region.
Boston Scientific Corporation, BTL Corporate, Becton, Dickinson and Company (C. R. Bard, Inc.), Dornier MedTech., Edaptms TMS, EMS DolorClast, Lumenis Ltd., Olympus Corporation, and Siemens Healthineers AG are some of the major shock wave therapy devices companies worldwide.
Shock wave therapy devices market size was USD 174.6 million in 2023 and is expected to register 4.9% CAGR from 2024-2032 owing to the increasing incidence of musculoskeletal disorders, ongoing technology advancements, and growing aging population worldwide.
Shock wave therapy devices industry from the focused shockwave generation segment recorded USD 102.6 million in 2023 due to their ability to reduce patient pain and the risk of side effects associated with unfocused shockwave therapy.