Global Shockwave Therapy Market Is Expected to Reach $2,269.63 Million by 2031: Says AMR
Rise in the incidence of chronic muscular & tendon disorders, and the increase in demand for a non-invasive solution for chronic & acute pain is the key factor that drives the growth of the global shockwave therapy market. By technology, the electrohydraulic technique segment held the major share in 2021. By region, Asia-Pacific would cite the fastest CAGR by 2031.
Portland,OR, Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Shockwave Therapy Market was estimated for $1,171.19 million in 2021 and is estimated to reach $2,269.63 million by 2031, exhibiting a CAGR of 6.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Technique, Product, Application, End-user, and Region.
Increasing incidence of muscle and tendon disorder and sports-related injuries.
The rise in technological advancement.
Rise in chronic and musculoskeletal disorders.
High cost of the treatment.
High growth potential in developing economies.
The overall impact of COVID-19 remains negative on the shockwave therapy market. Owing to decline in the number of surgical procedures worldwide, all outpatient treatments were postponed or restricted during the COVID-19 pandemic to reduce the risk of viral transmission as most chronic therapies were regarded as non-urgent.
Moreover, the COVID-19 pandemic also impacted the number of sports-tournament organized worldwide, reducing the prevalence rate of sports-related injuries.
However, it is expected that the sales of the shockwave therapy market will rapidly increase post covid phase, owing to the rise in the number of sports-related injuries and increasingly sedentary lifestyle practices that are giving rise to chronic musculoskeletal disorders and back problems in society has led to the increase in demand for shockwave therapy devices to reduce the pain of within a shorter period of time than usual are the key factors are expected to create lucrative opportunities for the market to grow in the near future, providing profitable opportunities for key players post-COVID-19.
The global shockwave therapy market is analyzed across technology, product, application, end-user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By technology, the electrohydraulic technique segment held the largest share in 2021, garnering more than one-third of the global shockwave therapy market revenue, and is projected to maintain its dominance by 2031. The piezoelectric technique segment, on the other hand, would showcase the fastest CAGR of 6.9% during the forecast period.
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By product, the mobile shockwave therapy devices segment contributed to more than half of the global shockwave therapy market share in 2021 and is projected to rule the roost by 2031. The fixed shockwave therapy devices segment, on the other hand, would display the fastest CAGR of 7.1% throughout the forecast period.
By application, the orthopedics segment accounted for the highest share in 2021, generating around one-third of the global shockwave therapy market revenue. The cardiology segment, simultaneously, would portray the fastest CAGR of 7.5% during the forecast period. The urology and other segments are also analyzed through the report.
By end user, the hospital’s segment accounted for the highest share in 2021, generating around one-third of the global shockwave therapy market revenue. The clinic’s segment, simultaneously, would portray the fastest CAGR of 7.2% during the forecast period.
By region, North America held the major share in 2021, garnering more than one-third of the global shockwave therapy market revenue. The Asia-Pacific region would showcase the fastest CAGR of 7.8% from 2022 to 2031. The other provinces assessed through the report include Europe and LAMEA.
The key market players analyzed in the global shockwave therapy market report include BioMed India, Boston Scientific Corporation, BTL Corporate, Dornier MedTech, EDAP TMS, EMS Dolorclast, Inceler Medikal Co. Ltd, Karl Storz SE & Co, SANUWAVE and SANUWAVE Health, Inc. and Shockwave Medical Inc,. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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