Shock Wave Therapy Devices Market - By Technology (Focused {EMSG, EHSG, PSG}, Radial or Ballistic, Combined), Application (Orthopedic, Cardiology, Urology), Type (Portable, Fixed), End-use (Hospitals, Diagnostic Labs, ASC) – Global Forecast, 2024 – 2032

Shock Wave Therapy Devices Market Size

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.
 

Shock Wave Therapy Devices Market Trends

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.
 

• Further, there is a rising demand for portable shock wave therapy devices that offer flexibility and convenience in clinical settings. Portable devices allow healthcare practitioners to easily provide shock wave therapy in a variety of settings, including clinics, sporting facilities, and distant places, increasing access to treatment alternatives.
   
• Moreover, advanced technologies such as focused shock waves, electromagnetic mechanisms, and real-time imaging guiding are being integrated by manufacturers into shock wave therapy devices. These innovations enhance treatment accuracy, therapeutic outcomes, and patient safety, contributing to market growth and differentiation among competitors.
   

Shock Wave Therapy Devices Market Analysis

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.
 

• Focused shockwave generation enables the precise targeting of pathological tissues or specific anatomical regions with high-energy shock waves. This precision minimizes collateral damage to surrounding healthy tissues and maximizes the therapeutic impact on the targeted area, improving treatment outcomes and patient satisfaction.
   
• Furthermore, focused shockwave therapy reduces patient pain and the risk of side effects associated with unfocused or radial shockwave therapy. Focused shockwave development decreases shock wave dispersion and the danger of tissue damage, bruising, or nerve irritation, hence improving therapy tolerability and safety.
   

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.
 

• For orthopedic disorders, shock wave therapy offers a minimally invasive or non-invasive treatment alternative. It reduces the need for surgical procedures and the risks, issues, and recovery periods associated with it. Patients and healthcare professionals often choose non-surgical methods such as shock wave treatment over traditional surgical procedures due to their safety, convenience, and more rapid recovery.
   
• Furthermore, chronic tendinopathies and musculoskeletal pain syndromes represent prevalent orthopedic conditions presenting therapeutic challenges and often proving resistant to conventional treatments. Shock wave therapy emerges as a promising approach for addressing these chronic and treatment-resistant orthopedic ailments, offering benefits such as enhanced tissue repair, breakdown of calcifications, and modulation of pain pathways. Consequently, it holds the potential to significantly improve patient outcomes and overall quality of life.
   

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.
 

• Portable shock wave therapy devices enable medical professionals to provide treatment in a wide range of clinical settings, including outpatient clinics, sports facilities, rehabilitation centers, and patients' homes. This adaptability improves access to shock wave treatment services, especially in distant or underdeveloped areas where healthcare facilities can be sparse.
   
• Additionally, portable devices are an affordable alternative to fixed-location equipment, which could require significant capital investment, facility changes, and continuous maintenance. Portable devices provide reduced upfront costs and operational expenditures, making shock wave treatment more accessible to smaller healthcare offices, independent practitioners, and mobile healthcare professionals, hence increasing market penetration, thereby fostering segment expansion.
   

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.
 

• Hospitals and clinics cater to a diverse patient population with varying healthcare needs and medical conditions. Shock wave therapy offers a non-invasive or minimally invasive treatment option for a wide range of musculoskeletal, orthopedic, urological, and cardiovascular disorders, making it a versatile and valuable therapeutic modality for addressing diverse patient needs across different medical specialties and clinical settings.
   
• Additionally, hospitals and clinics strive to provide comprehensive care delivery by offering a spectrum of diagnostic, therapeutic, and rehabilitative services to meet patients' healthcare needs. Shock wave therapy complements existing treatment modalities and rehabilitation programs, offering patients integrated and multidisciplinary care pathways that enhance treatment outcomes, functional recovery, and quality of life.
   

North America shock wave therapy devices market accounted for USD 69 million revenue in 2023 and is predicted to witness substantial market growth.
 

• North America is a hub for technological advancements and innovation in healthcare, with significant investments in research, development, and commercialization of medical devices. Manufacturers in the region continuously innovate and enhance shock wave therapy devices by integrating advanced technologies, improving treatment precision, efficacy, and patient outcomes, and driving market growth through product differentiation and technological leadership.
   
• Furthermore, North American healthcare providers prioritize evidence-based medicine and clinical guidelines when selecting treatment modalities and smart medical devices. The growing body of clinical evidence supporting the efficacy of shock wave therapy across various medical specialties, coupled with endorsements from professional societies and healthcare organizations, promotes the adoption of shock wave therapy devices in clinical practice and drives market expansion in the region.
   

Shock Wave Therapy Devices Market Share

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.
 

Shock Wave Therapy Devices Market Companies

Some of the eminent market participants operating in the shock wave therapy devices industry include:

• Boston Scientific Corporation
• BTL Corporate
• Becton, Dickinson and Company (C. R. Bard, Inc.)
• Dornier MedTech.
• Edaptms TMS
• EMS DolorClast
• Lumenis Ltd.
• Olympus Corporation
• Siemens Healthineers AG
• Zimmer MedizinSysteme GmbH
   

Shock Wave Therapy Devices Industry News:

• In February 2021, Shockwave Medical, Inc. announced that the US Food and Drug Administration (FDA) approved Pre-Market Approval to its sonic pressure wave therapy for highly calcified coronary artery disease. The FDA classified the novel method as an innovative device. It is a unique use of lithotripsy, which was used for decades to safely break up kidney stones. With its approval, IVL is now commercially accessible in the U.S. to treat calcium deposits in the coronary arteries, which can decrease blood flow to the heart.
   

Shock wave therapy devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 - 2032 for the following segments:

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Market, By Technology

• Focused shockwave generation
  • Electrohydraulic shock wave generation (EHSG)
  • Piezoelectric shock wave generation (PSG)
  • Electromagnetic shock wave generation (EMSG) 
• Radial or ballistic shock wave generation
• Combined shock wave generation

Market, By Application

• Orthopedic
• Cardiology
• Urology
• Other applications

Market, By Type

• Portable
• Fixed

Market, By End-use

• Hospitals and clinics
• Diagnostic laboratories
• Ambulatory surgical centers

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa