Executive Summary

The global extracorporeal shock wave therapy devices market is projected to grow at a CAGR of XX% during the forecast period of 2021-2028. The therapy is gaining popularity due to its non-invasive nature and its effectiveness in treating conditions that are difficult to manage using traditional treatment methods. The market is driven by increasing prevalence of musculoskeletal disorders, rising geriatric population, and increasing adoption of non-invasive treatment methods. However, high cost of treatment and lack of skilled professionals may restrain market growth to some extent.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

• Increasing prevalence of musculoskeletal disorders: The global extracorporeal shock wave therapy devices market is driven by increasing prevalence of musculoskeletal disorders, such as tendinitis, plantar fasciitis, and tennis elbow. According to the World Health Organization (WHO), musculoskeletal conditions are the second largest contributor to disability worldwide, with low back pain being the most common musculoskeletal disorder.
• Rising geriatric population: The global geriatric population is increasing rapidly, which is expected to drive the demand for extracorporeal shock wave therapy devices. According to the United Nations, the number of people aged 60 years or above is projected to reach 2.1 billion by 2050, up from 962 million in 2017.
• Increasing adoption of non-invasive treatment methods: The global extracorporeal shock wave therapy devices market is driven by increasing adoption of non-invasive treatment methods. Extracorporeal shock wave therapy is a non-invasive treatment method that does not require anesthesia or incisions, making it an attractive alternative to surgery.

Market Drivers

• Increasing prevalence of musculoskeletal disorders
• Rising geriatric population
• Increasing adoption of non-invasive treatment methods

Market Restraints

• High cost of treatment
• Lack of skilled professionals

Market Opportunities

• Increasing demand for portable and handheld devices
• Growing adoption of shock wave therapy for erectile dysfunction

Market Dynamics

The global extracorporeal shock wave therapy devices market is highly competitive, with several players operating in the market. The market is driven by increasing prevalence of musculoskeletal disorders, rising geriatric population, and increasing adoption of non-invasive treatment methods. However, the market is restrained by high cost of treatment and lack of skilled professionals.

The market is characterized by a high level of research and development activities, with companies investing in developing advanced shock wave therapy devices. For instance, in October 2020, BTL Industries launched a new extracorporeal shock wave therapy device, the BTL ShockMaster, which offers customizable treatment protocols and an intuitive user interface.

Regional Analysis

The global extracorporeal shock wave therapy devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market during the forecast period, due to increasing prevalence of musculoskeletal disorders and rising adoption of non-invasive treatment methods. Asia Pacific is expected to witness significant growth during the forecast period, due to increasing awareness about extracorporeal shock wave therapy and rising healthcare expenditure.

Competitive Landscape

Leading Companies in the Global Extracorporeal Shock Wave Therapy Devices Market:

1. Medispec Ltd.
2. Boston Scientific Corporation
3. EDAP TMS S.A.
4. Zimmer MedizinSysteme GmbH
5. Siemens Healthineers AG
6. Dornier MedTech GmbH
7. STORZ MEDICAL AG
8. MTS Medical UG
9. EMS Electro Medical Systems S.A.
10. GEMSS Medical Systems Co., Ltd.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The global extracorporeal shock wave therapy devices market has been segmented based on technology, application, end-user, and region.

By Technology:

• Focused Extracorporeal Shock Wave Therapy
• Radial Extracorporeal Shock Wave Therapy

By Application:

• Musculoskeletal Disorders
• Wound Healing
• Erectile Dysfunction

By End-User:

• Hospitals
• Clinics
• Rehabilitation Centers

Category-wise Insights

By Technology:

• Focused Extracorporeal Shock Wave Therapy is expected to dominate the market during the forecast period, due to its effectiveness in treating various musculoskeletal conditions, including plantar fasciitis, tennis elbow, and Achilles tendinitis.

By Application:

• Musculoskeletal Disorders is expected to dominate the market during the forecast period, due to increasing prevalence of musculoskeletal disorders and rising geriatric population.

By End-User:

• Hospitals are expected to dominate the market during the forecast period, due to the availability of advanced shock wave therapy devices and skilled professionals.

Key Benefits for Industry Participants and Stakeholders

• This report provides a detailed analysis of the global extracorporeal shock wave therapy devices market, covering key market trends, market drivers, market restraints, market opportunities, market dynamics, regional analysis, competitive landscape, segmentation, category-wise insights, key benefits for industry participants and stakeholders, SWOT analysis, COVID-19 impact, key industry developments, analyst suggestions, future outlook, and conclusion.
• The report provides a comprehensive understanding of the market dynamics and opportunities, helping industry participants and stakeholders to make informed decisions.
• The report provides a detailed analysis of the competitive landscape, helping industry participants and stakeholders to understand the competitive environment and develop effective strategies.

SWOT Analysis

Strengths:

• Non-invasive treatment method
• Increasing prevalence of musculoskeletal disorders
• Rising geriatric population

Weaknesses:

• High cost of treatment
• Lack of skilled professionals

Opportunities:

• Increasing demand for portable and handheld devices
• Growing adoption of shock wave therapy for erectile dysfunction

Threats:

• Intense competition among market players
• Side effects of shock wave therapy

Market Key Trends

• Increasing demand for portable and handheld devices: The global extracorporeal shock wave therapy devices market is witnessing increasing demand for portable and handheld devices, which are easy to use and convenient for patients. Portable and handheld devices are particularly useful for treating conditions that require frequent sessions, such as plantar fasciitis.
• Growing adoption of shock wave therapy for erectile dysfunction: Extracorporeal shock wave therapy is gaining popularity as a treatment method for erectile dysfunction, due to its non-invasive nature and effectiveness. Shock wave therapy helps to improve blood flow to the penis, which can lead to improved erectile function.

Covid-19 Impact

The global extracorporeal shock wave therapy devices market has been impacted by the COVID-19 pandemic, with several factors contributing to the impact. The pandemic has resulted in a significant decrease in patient visits to hospitals and clinics, which has affected the demand for extracorporeal shock wave therapy devices. Additionally, supply chain disruptions and production delays have affected the availability of shock wave therapy devices, which has further impacted market growth. However, the market is expected to recover during the post-pandemic period, due to increasing awareness about extracorporeal shock wave therapy and rising healthcare expenditure.

Key Industry Developments

• In May 2020, Zimmer MedizinSysteme GmbH launched the ZWave Pro 3, an advanced extracorporeal shock wave therapy device that offers customizable treatment protocols and an intuitive user interface.
• In June 2020, Storz Medical AG launched the Duolith SD1 T-TOP, an advanced extracorporeal shock wave therapy device that offers high energy and a range of treatment options.

Analyst Suggestions

• The global extracorporeal shock wave therapy devices market is projected to grow at a significant rate during the forecast period, due to increasing prevalence of musculoskeletal disorders and rising geriatric population.
• Companies operating in the market should focus on developing advanced shock wave therapy devices and expanding their product portfolio through strategic partnerships and collaborations.
• Companies should also focus on increasing awareness about extracorporeal shock wave therapy and its benefits, in order to drive market growth and adoption.

Future Outlook

The global extracorporeal shock wave therapy devices market is expected to witness significant growth during the forecast period, due to increasing prevalence of musculoskeletal disorders, rising geriatric population, and increasing adoption of non-invasive treatment methods. The market is expected to be driven by technological advancements in shock wave therapy devices and increasing demand for portable and handheld devices. However, the market may be restrained by high cost of treatment and lack of skilled professionals. The market is expected to recover from the COVID-19 impact during the post-pandemic period, due to increasing awareness about extracorporeal shock wave therapy and rising healthcare expenditure.

Conclusion

The global extracorporeal shock wave therapy devices market is projected to grow at a significant rate during the forecast period, due to increasing prevalence of musculoskeletal disorders and rising geriatric population. The market is characterized by a high level of competition, with several players operating in the market. Companies are focusing on developing advanced shock wave therapy devices and expanding their product portfolio through strategic partnerships and collaborations. The market is expected to recover from the COVID-19 impact during the post-pandemic period, due to increasing awareness about extracorporeal shock wave therapy and rising healthcare expenditure.