Shock Wave Therapy Market Size, Share, Opportunities, And Trends By Technique (Electrohydraulic Technique, Piezoelectric Technique, Radial Technique, Electromagnetic Shock Waves), By Product (Mobile Shockwave Therapy Devices, Fixed Shockwave Therapy Devices), By End-User (Hospital, Clinics, Others), By Application (Urology, Orthopedics, Cardiology, Others), And By Geography - Forecasts From 2024 To 2029

The shock wave therapy market is anticipated to expand at a high CAGR over the forecast period.

Shock wave therapy, also known as extracorporeal shock wave therapy (ESWT), is a non-invasive medical treatment that utilizes high-energy shock waves to stimulate healing and reduce pain in various musculoskeletal conditions.

The technique involves delivering acoustic waves to the targeted area, promoting increased blood flow, cell regeneration, and tissue repair. Initially developed for breaking down kidney stones, shock wave therapy has found applications in treating conditions such as plantar fasciitis, tendonitis, and chronic pain in joints. The treatment is often considered when conventional approaches, such as physical therapy or medications, have not provided sufficient relief.

While the exact mechanisms of its effectiveness are not fully understood, shock wave therapy continues to be explored and adopted as a promising alternative for managing certain orthopaedic and soft tissue disorders.

Market Drivers

• Rising injuries and accidents

The market is experiencing growth due to the increasing occurrence of accidents and sports-related injuries, a rise in patients with musculoskeletal, urological, and cardiac disorders, and individuals undergoing various surgical procedures. As an illustration, the World Health Organization (WHO) reported in 2021 that road accidents impacted approximately 40 million people globally. Additionally, the WHO highlighted a high incidence of traffic injuries in developing countries, particularly in low- and middle-income nations. The surge in road traffic injuries, leading to various musculoskeletal and cardiac issues in affected individuals, is anticipated to propel market growth.

• A wide range of uses

Shockwave therapy is a versatile therapeutic modality that has found applications across a wide range of fields, including orthopedics, physiotherapy, urology, sports medicine, veterinary medicine, rehabilitation centers, and plastic surgery. Its efficacy in stimulating faster healing, revascularization, and regeneration of bones, ligaments, and tendons has been widely documented. A recent example of this therapy's effectiveness is the pre-market approval granted by the US FDA in February 2021 for Intravascular Lithotripsy (IVL); a sonic pressure wave therapy used to treat severe calcified coronary artery disease. This development is a testament to the growing recognition of the potential of shockwave therapy in treating a range of medical conditions and its broader impact on patient care.

The electrohydraulic shock waves segment is expected to grow significantly.

Underwater explosions caused by high-voltage electrode spark discharge generate electrohydraulic shockwaves, which are powerful acoustic waves. These shockwaves are focused by an elliptical reflector and targeted towards areas requiring treatment to achieve therapeutic effects. The dominance of this segment is attributed to heightened awareness and increased utilization of the technology in recent years, as well as a growing preference among physicians.

The use of electrohydraulic shock wave therapy has seen a notable rise in treating lithotripsy among the elderly population. Given the health complexities associated with this demographic, conventional surgical methods are often not the preferred choice for treatment. Additionally, electrohydraulic shock wave therapy finds extensive application in orthopaedic physiotherapy for addressing concerns among the elderly. Consequently, the global increase in the elderly population emerges as a key driver propelling market growth. For instance, a report by Statistics Canada in April 2022 indicated that seniors aged 65 and above accounted for approximately one-fifth of the Canadian population last year, with their numbers increasing six times faster than those of children aged 0-14. As shockwave therapy usage among the elderly continues to climb alongside the growing aging population, these factors are anticipated to significantly fuel market expansion in the foreseeable future.

North America is anticipated to hold a significant share of the market

North America is poised to maintain its market dominance throughout the projected period, driven by factors such as the rapid rise in the aging population, advanced technological developments, and a well-established healthcare infrastructure that facilitates the adoption of shock wave therapy (SWT) for pain management. Additionally, the increasing prevalence of conditions like cardiac ischemia, kidney stones, and erectile dysfunction in the United States is anticipated to contribute significantly to market expansion in the region. According to the United States Census Bureau's data on Demographic Turning Points (updated in February 2021), the U.S. is projected to have 73.1 million people aged 65 and above by 2030, reaching approximately 94.7 million by 2060, constituting around 23% of the population. This demographic shift is expected to positively impact the SWT market. Moreover, Canada is also expected to witness a considerable rise in the elderly population, reaching around 9.5 million individuals aged 65 and above by 2030, as per the Action for Seniors report published by the government in February 2021, further contributing to market growth in the region.

Market Developments

• In June 2022, Zomedica Corp. disclosed that PulseVet had been designated as the Official Supplier of Shock Wave Therapy for US Equestrian Team Veterinarians by the United States Equestrian Federation (USEF).
• In March 2022, Shockwave Medical Inc. introduced the Shockwave M5+ peripheral Intravascular Lithotripsy (IVL) catheter following approvals from both the CE Mark and the Food and Drug Administration (FDA). The design of the Shockwave M5+ catheter is tailored to reduce Intravascular Lithotripsy treatment duration, offer alternative access possibilities, and extend IVL therapy to individuals with larger blood vessel sizes.
• In January 2022, Menoufia University supported a clinical study aimed at assessing the efficacy and safety of focused Low-Intensity Extracorporeal Shock Wave Therapy (Li-ESWT) as a treatment for erectile dysfunction.

Market Segmentation

• By Technique
  • Electrohydraulic Technique
  • Piezoelectric Technique
  • Radial Technique
  • Electromagnetic Shock Waves
• By Product
  • Mobile Shockwave Therapy Devices
  • Fixed Shockwave Therapy Devices
• By End-User
  • Hospital
  • Clinics
  • Others
• By Application
  • Urology
  • Orthopedics
  • Cardiology
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits for the Stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. SHOCK WAVE THERAPY MARKET, BY TECHNIQUE

5.1. Introduction

5.2. Electrohydraulic Technique

5.2.1. Market Opportunities and Trends

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Piezoelectric Technique

5.3.1. Market Opportunities and Trends

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Radial Technique

5.4.1. Market Opportunities and Trends

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

5.5. Electromagnetic Shock Waves

5.5.1. Market Opportunities and Trends

5.5.2. Growth Prospects

5.5.3. Geographic Lucrativeness

6. SHOCK WAVE THERAPY MARKET, BY PRODUCT

6.1. Introduction

6.2. Mobile Shockwave Therapy Devices

6.2.1. Market Opportunities and Trends

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Fixed Shockwave Therapy Devices

6.3.1. Market Opportunities and Trends

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

7. SHOCK WAVE THERAPY MARKET, BY END-USER

7.1. Introduction

7.2. Hospitals

7.2.1. Market Opportunities and Trends

7.2.2. Growth Prospects

7.2.3. Geographic Lucrativeness

7.3. Clinics

7.3.1. Market Opportunities and Trends

7.3.2. Growth Prospects

7.3.3. Geographic Lucrativeness

7.4. Others

7.4.1. Market Opportunities and Trends

7.4.2. Growth Prospects

7.4.3. Geographic Lucrativeness

8. SHOCK WAVE THERAPY MARKET, BY APPLICATION

8.1. Introduction

8.2. Urology

8.2.1. Market Opportunities and Trends

8.2.2. Growth Prospects

8.2.3. Geographic Lucrativeness

8.3. Orthopedics

8.3.1. Market Opportunities and Trends

8.3.2. Growth Prospects

8.3.3. Geographic Lucrativeness

8.4. Cardiology

8.4.1. Market Opportunities and Trends

8.4.2. Growth Prospects

8.4.3. Geographic Lucrativeness

8.5. Others

8.5.1. Market Opportunities and Trends

8.5.2. Growth Prospects

8.5.3. Geographic Lucrativeness

9. SHOCK WAVE THERAPY MARKET, BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. By Technique

9.2.2. By Product 

9.2.3. By End User 

9.2.4. By Application

9.2.5. By Country

9.2.5.1. United States

9.2.5.1.1. Market Opportunities and Trends

9.2.5.1.2. Growth Prospects

9.2.5.2. Canada

9.2.5.2.1. Market Opportunities and Trends

9.2.5.2.2. Growth Prospects

9.2.5.3. Mexico

9.2.5.3.1. Market Opportunities and Trends

9.2.5.3.2. Growth Prospects

9.3. South America

9.3.1. By Technique

9.3.2. By Product 

9.3.3. By End User 

9.3.4. By Application

9.3.5. By Country

9.3.5.1. Brazil

9.3.5.1.1. Market Opportunities and Trends

9.3.5.1.2. Growth Prospects

9.3.5.2. Argentina

9.3.5.2.1. Market Opportunities and Trends

9.3.5.2.2. Growth Prospects

9.3.5.3. Others

9.3.5.3.1. Market Opportunities and Trends

9.3.5.3.2. Growth Prospects

9.4. Europe

9.4.1. By Technique

9.4.2. By Product 

9.4.3. By End User 

9.4.4. By Application

9.4.5. By Country

9.4.5.1. Germany

9.4.5.1.1. Market Opportunities and Trends

9.4.5.1.2. Growth Prospects

9.4.5.2. France

9.4.5.2.1. Market Opportunities and Trends

9.4.5.2.2. Growth Prospects

9.4.5.3. United Kingdom

9.4.5.3.1. Market Opportunities and Trends

9.4.5.3.2. Growth Prospects

9.4.5.4. Spain

9.4.5.4.1. Market Opportunities and Trends

9.4.5.4.2. Growth Prospects

9.4.5.5. Others

9.4.5.5.1. Market Opportunities and Trends

9.4.5.5.2. Growth Prospects

9.5. Middle East and Africa

9.5.1. By Technique

9.5.2. By Product 

9.5.3. By End User 

9.5.4. By Application

9.5.5. By Country

9.5.5.1. Saudi Arabia

9.5.5.1.1. Market Opportunities and Trends

9.5.5.1.2. Growth Prospects

9.5.5.2. Israel

9.5.5.2.1. Market Opportunities and Trends

9.5.5.2.2. Growth Prospects

9.5.5.3. Others

9.5.5.3.1. Market Opportunities and Trends

9.5.5.3.2. Growth Prospects

9.6. Asia Pacific

9.6.1. By Technique

9.6.2. By Product 

9.6.3. By End User 

9.6.4. By Application

9.6.5. By Country

9.6.5.1. China

9.6.5.1.1. Market Opportunities and Trends

9.6.5.1.2. Growth Prospects

9.6.5.2. Japan

9.6.5.2.1. Market Opportunities and Trends

9.6.5.2.2. Growth Prospects

9.6.5.3. South Korea

9.6.5.3.1. Market Opportunities and Trends

9.6.5.3.2. Growth Prospects

9.6.5.4. India

9.6.5.4.1. Market Opportunities and Trends

9.6.5.4.2. Growth Prospects

9.6.5.5. Indonesia

9.6.5.5.1. Market Opportunities and Trends

9.6.5.5.2. Growth Prospects

9.6.5.6. Taiwan

9.6.5.6.1. Market Opportunities and Trends

9.6.5.6.2. Growth Prospects

9.6.5.7. Others

9.6.5.7.1. Market Opportunities and Trends

9.6.5.7.2. Growth Prospects

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Competitive Dashboard

11. COMPANY PROFILES

11.1. Dornier MedTech GmbH

11.2. Zimmer MedizinSysteme GmbH

11.3. MS Electro Medical Systems S.A.

11.4. BTL Corporate

11.5. Edaptms TMS

11.6. Boston Scientific Corporation

11.7. Shock Wave Medical

11.8. Olympus Corporation 

Dornier MedTech GmbH

Zimmer MedizinSysteme GmbH

MS Electro Medical Systems S.A.

BTL Corporate

Edaptms TMS

Boston Scientific Corporation

Shock Wave Medical

Olympus Corporation