Electrohydraulic Shock Waves Dominate Shock Wave Therapy Market 2023-2028

DUBLIN, Aug. 17, 2023 /PRNewswire/ -- The "Shock Wave Therapy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.

The global shock wave therapy market is expected to experience a Compound Annual Growth Rate (CAGR) of nearly 5.6% during the forecast period, according to industry analysts.

The market has witnessed significant growth due to the adoption of shock wave therapy for treating COVID-19 patients during the pandemic and is projected to continue expanding as the prevalence of chronic diseases, such as cardiac and musculoskeletal disorders, rises.

The COVID-19 pandemic posed immense challenges to the healthcare system, leading to the postponement or restriction of all outpatient treatments, including most chronic therapies. In response, innovative therapies for COVID-19 treatment, such as radial extracorporeal shock wave therapy (rESWT), gained attention.

A March 2021 article in Medicines and Pharmacology reported the successful treatment of a COVID-19 patient with severe chest pain and shortness of breath using rESWT. The non-invasive, non-pharmacologic approach demonstrated promise in addressing COVID-19 related respiratory issues, contributing to the growth of the market during the pandemic.

Key factors driving the market's growth include the increasing incidence of accidents and sports injuries, a rise in patients with musculoskeletal, urological, and cardiac disorders, and an increase in surgical procedures. For example, in 2021, road accidents affected approximately 40 million people worldwide, with developing countries experiencing a higher rate of traffic injuries. The injuries resulting from road accidents often lead to various musculoskeletal and cardiological problems, driving the demand for shock wave therapy.

Shock wave therapy has multifaceted applications in orthopedics, physiotherapy, urology, sports medicine, veterinary medicine, rehabilitation centers, and plastic surgery, among others. This versatile treatment offers faster healing, revascularization, and regeneration of bones, ligaments, and tendons. Regulatory approvals for shock wave therapies, such as the US FDA granting pre-market approval for Intravascular Lithotripsy (IVL) for coronary artery disease, further contribute to market growth.

Despite the positive outlook, the market faces challenges related to the high costs of shock wave therapy devices and procedures and a shortage of skilled healthcare professionals, which may hinder growth during the study period.

Key Market Trends:

• Electrohydraulic Shock Waves Segment to Dominate: The electrohydraulic shock waves segment is expected to hold the largest market share during the forecast period due to its increased adoption in the treatment of lithotripsy in the elderly population and its wide applicability in various disorders.
• North America to Lead Market Share: North America is expected to dominate the market throughout the forecast period, driven by the rapid increase in the geriatric population, advanced technology, established healthcare infrastructure, and growing incidence of cardiac, kidney, and erectile disorders.

Competitive Landscape:

The shock wave therapy market is moderately competitive, with major players such as Karl Storz SE & Co. KG, Olympus Corporation, Dornier MedTech, Siemens, and EMS Electro Medical Systems SA. These companies are expanding their market presence and employing various strategies, including acquisitions, mergers, and product launches, to maintain their market share.

The global shock wave therapy market shows promising growth opportunities, driven by its diverse applications, increasing prevalence of chronic diseases, and advancements in technology. As the world continues to recover from the COVID-19 pandemic, the demand for non-invasive therapies like shock wave therapy is expected to rise, propelling the market's expansion.

A selection of companies mentioned in this report includes

• EMS Electro Medical Systems SA
• Dornier MedTech GmbH
• Olympus Corporation
• Karl Storz SE & Co. KG
• Siemens Healthineers AG
• BTL
• EDAP TMS
• Inceler Medikal Co. Ltd
• Boston Scientific Corporation
• Zimmer MedizinSysteme GmbH

For more information about this report visit https://www.researchandmarkets.com/r/s0gyxp

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